Wall Street banks issued a fresh round of ratings changes on Thursday, led by JPMorgan's upgrade of CoreWeave and a raised Meta price target following Meta Connect. Morgan Stanley reiterated its bullish Nvidia stance and initiated Imax at overweight, while UBS held Tesla at neutral ahead of delivery numbers and Citi downgraded Dropbox to sell.
Banks issued a wide batch of stock market rating changes on Thursday. JPMorgan upgraded CoreWeave to overweight from neutral, citing an improving pricing environment for compute capacity. According to CNBC, the firm pointed to "the favorable pricing backdrop for compute given the strong demand backdrop" as the reason behind the call.
Meta's price target climbs after Meta Connect
JPMorgan reiterated its overweight rating on Meta and raised its price target to $920 per share from $820 following the company's Meta Connect event. The bank did not detail further specifics behind the increase beyond reaffirming its existing rating.
Nvidia and Imax draw bullish calls
Morgan Stanley reiterated Nvidia as overweight, pointing to the company's exposure to fast inference, agentic CPU demand and the Vera Rubin product cycle as catalysts. Separately, Morgan Stanley initiated Imax at overweight, saying the company's growing network and film slate are reinforcing higher box office revenue.
Tesla held at neutral, Dropbox downgraded
UBS reiterated Tesla as neutral ahead of the company's delivery numbers, pegging buyside expectations in a range of 460k to 480k units. Meanwhile, Citi downgraded Dropbox to sell from neutral with a $29 price target, saying the market is pricing in too much success from the company's AI storage pivot too early.
Mizuho also initiated SpaceX at outperform with a $200 price target, calling Starlink the company's cash engine.
Retail and real estate names get a lift
HSBC upgraded Dollar General to buy from hold and raised its price target to $160 per share from $125. JPMorgan also upgraded Welltower to overweight from neutral, citing multi-year growth potential. The bank separately upgraded Macerich to overweight from neutral as well, saying it also sees significant growth ahead.
Source: CNBC
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