(This is CNBC Pro’s live coverage of Thursday’s Analyst Conference Call and Wall Street Chat. Refresh every 20-30 minutes to see the latest posts.) Fast Food Stocks and Nvidia was one of the hot stocks among Wall Street analysts. RBC assumed coverage for Jack in the Box with an outperform rating and a price target implying an upside of 40% or more. Meanwhile, analysts from Piper Sandler, Citi, and New Street Research released an earnings preview for NVIDIA. Check out the latest calls and chats below. Always Eastern Time. 7:26 a.m.: JPMorgan raises Palo Alto price target ahead of earnings report Cybersecurity stock Palo Alto Networks could be bracing for a rebound after next week’s earnings release, according to JPMorgan. Analyst Brian Essex said in a note to clients that Palo Alto’s performance appears to be improving and raised his price target to $340 a share from $330. “Bills performance was disappointing for the third quarter in a row. PANW’s FY24 outlook for the quarter has been significantly lowered (by $600 million).However, the conversation in the channel generally suggests health.” “We are supported by our previous activities in the fourth quarter,” the memo said. Palo Alto Networks stock is down about 17% from its all-time high in early February. JPMorgan’s new price target is about 8% above Wednesday’s closing price. The company rates Palo Alto as Overweight. The cyber company is scheduled to report fiscal third-quarter earnings on Monday. —Jesse Pound 7:09 a.m.: GoodRx has a solid growth story and attractive valuation, according to Raymond James, after the company’s first investor day on Wednesday. , upgraded healthcare company GoodRx to outperform the market. “Given GDRX’s reaccelerating revenue, improving margins, more focused business strategy, and attractive valuation, we remain progressively positive on the stock,” analyst John Ransom said Thursday. “Overall, we are positive about the growth story here, and there is potential for upside in the numbers.” He added that he views the outlook for 2024 as conservative. Ransom’s $10 price target suggests about 37.6% upside potential for the stock, which has risen 8.5% this year. The analyst said GoodRx’s new management has prioritized building symbiotic relationships with retail networks that “represent a turnaround” for the company, as seen in its new deal with grocery store chain Kroger. That’s what it means. In the pharmaceutical industry, GoodRx also sees upside opportunities from GLP-1 and specialty drugs, he added. — Pia Singh 6:40 a.m.: Evercore ISI raises price target on Dell, points to Tesla as new AI customer Evercore ISI says Dell has broad AI opportunities going forward. Amit Daryanani reiterated his Outperform rating and raised his price target by $14 to $160, suggesting the stock could rise more than 7% over the next year. Dell’s stock price has soared nearly 95% this year. DELL YTD MOUNTAIN DELL YTD YTD Analysts say Dell has “gained significant storage connectivity” in addition to AI servers that may ship in conjunction with Tesla’s AI We have also gained a large amount of business for server construction. The company offers a strong AI infrastructure stack, including storage, servers and services, which is experiencing accelerating demand but is undervalued by investors, he said. “Dell continues to gain traction in AI servers and, more importantly, AI attach. It should help raise the prices,” Daryanani said in an article on Thursday. Note. — Pia Singh 6:23 a.m.: Wolfe Research upgrades Intel to equal performer, says its cautious approach ‘worked’ Weak sentiment and weak profitability weigh against Intel However, Wolfe Research still expects a long-term recovery in its stock price. Analyst Chris Caso said the stock’s “underperformance theory paid off” and upgraded the stock to an even performer. Caso’s $29 price target, which suggests the stock could fall 7.3%, was unchanged. Caso said that in order for Intel to increase revenue from the company’s high spending levels related to its “five nodes in four years” turnaround strategy, it will need higher revenue growth to reach the necessary margin and revenue goals. He said that it is necessary to realize this. “A key element of that cautious theory is that server CPU growth alone will not be enough to pay for the large CapeEx/depreciation costs required by INTC’s 5N4Y manufacturing strategy,” the analyst said in a note Thursday. ” he wrote. “Having said that, this is now part of investor expectations, as start-up costs come down and INTC begins to introduce more tiles in-house, albeit modestly, in CY25 there will be some GM Intel’s stock price is down about 37.8% this year, far below its peers and the broader market. — Pia Shin 6:05 a.m.: UBS upgrades South Korean e-commerce leader Coupang to acquisition target He says investors are excited about online market Coupang’s growth potential, even in a saturated market with increasing competition, according to UBS It is said that you should not miss it. Analyst Jennifer Han upgraded the stock from Neutral to Buy and raised her price target by $7.50 to $26, suggesting 15.5% upside potential. Coupang stock is up about 39% this year. “We view Coupang as a leader in the $124 billion South Korean e-commerce market, with a 29% market share, expected to increase to 43% by 2026,” Han wrote in a note Thursday. Ta. “Our analysis suggests that the market may have underestimated Coupang’s capabilities and overlooked its expanding portfolio and strong logistics network.” She forecasts a CAGR (compound annual growth rate) of 21% in gross merchandise value through the end of the year, driving her above-consensus revenue forecast. Over the long term, analysts believe Coupang could continue to improve its adjusted EBITDA margin by more than 10% due to continued improvements in operational efficiency, scale, and automation. — Pia Singh 5:41am: Analyst bullish on her Nvidia earnings The analyst is optimistic ahead of Nvidia’s first quarter results, which will be released after the closing bell next Wednesday. Piper Sandler’s Harsh Kumar remains bullish on the chipmaker’s earnings and expects strong demand for Nvidia’s new Blackwell GPU series across its data center customer base. He maintained his Overweight rating and $1,050 price target, suggesting nearly 11% upside potential. “We continue to see strong demand for NVDA’s data center products and feel the company is poised for another beat-and-raise quarter,” Kumar said, adding that in his bullish view, It added that total revenue could exceed current expectations by $1.5 billion to $2 billion. “NVDA remains our top large-cap pick and we remain bullish that the Blackwell series will significantly accelerate earnings over the long term,” Citi analyst Atif Malik said in the Street’s predictions. It expected inline sales to be $24 billion compared to 2025, and called for shortening H100 lead times and normalizing gross margins before GB200 volumes increase in the first half of 2025. Myrk said he likes stocks that are rated “buy.” “Long-term AI growth opportunity,” he said, maintaining his price target of $1,030. New Street Research maintained a buy rating and $1,100 price target on the stock ahead of the quarterly issue. Analyst Pierre Ferragh said that high-bandwidth memory sales will increase by more than 50% in 2025, suggesting that AI chip revenues will likely double as well, adding to NVIDIA’s theory. It gives momentum. Nvidia stock is up more than 91% this year. — Pia Singh 5:41 a.m.: RBC says Jack in the Box soars more than 40% This year’s big selloff in Jack in the Box has given investors a big boost, according to RBC Capital Markets. It is said to provide a buying opportunity. The bank assumed it covered the fast food chain with an outperform rating. The $75 price target implies 44% upside over the next 12 months. Analyst Logan Reich has three reasons for his positive outlook for stocks: [long-term] unit growth. 2) New menu items and digital innovations [same-store sales] Inflection period from H2 2024 to 2025, 3) Valuation looks attractive at 22% below the five-year average.” Jack in the Box stock has struggled this year, falling more than 34% 2024 Jack YTD Mountain Jack — Fred Imbert
All the Wall Street chatter that will move the markets starting Thursday
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