(This is CNBC Pro’s live coverage of Wednesday’s analyst conference call and Wall Street chatter. Refresh every 20-30 minutes to see the latest posts.) Among the stocks analysts were talking about on Wednesday were United Airlines and Apple. United Airlines shares were upgraded to a buy recommendation at Jefferies, which sees the company seeing about 30% upside. Meanwhile, Bank of America re-highlighted Apple as a top pick, citing potential upside from consumers upgrading to AI-enabled phones. Check out the latest conference call and chatter below. All times are ET. 6:27 a.m.: UBS Raises First Solar Price Target, Sees 25% Upside The outlook for First Solar is bright, according to UBS. The bank raised its price target on the solar-powered stock to $350 from $270, suggesting the stock could rise 25% from Tuesday’s closing price. Analyst John Windham cited a more supportive price environment as one of the reasons for the price target change. He wrote that rising U.S. import tariffs could ultimately support First Solar’s share price rise beyond 2026. The analyst added, “The change in PT is due to the company’s growing confidence in the underlying utility-scale project demand, driven by corporate ‘100% renewable’ demand, and the recent favorable news on U.S. import tariffs.” Meanwhile, Windham also noted that First Solar’s position as the only company with the technology to produce solar modules domestically at competitive prices gives it an edge over competitors. First Solar’s shares have already soared nearly 63% this year. FSLR YTD mountain FSLR year to date — Lisa Kailai Han 6:06 am: Citi upgrades Liberty Energy on improving outlook Liberty Energy shares are expected to continue their upward trend, according to Citi. Analyst Scott Gruber upgraded the energy stock to buy from neutral and raised his price target to $32 accordingly. The new price forecast, up from $24, means the stock could rise 34%.Liberty Energy shares have soared 32% so far this year, but Gruber believes the stock could rise further with an improving outlook. “LBRT has performed well in OFS over the past year as concerns about declining margins have proven overblown,” the analyst wrote. Meanwhile, the domestic fracking market will rise as the recent demand slump comes to an end. Gas activity could start to recover in the second half of 2024, while oil will likely face a seasonal downturn in the fourth quarter. Gruber also noted that Liberty’s diversification into other business segments will be a further catalyst. “LBRT’s investment in efrac differentiates it from its peers and adds stability to its base business. Additionally, its investments in mobile power and gas logistics create another source of growth that extends use cases beyond oil and gas in times of power scarcity,” he wrote, naming hospitals, mining companies, and data centers as potential future customers. — Lisa Kailai Hung 5:50 AM: Morgan Stanley Names SLB a Top Stock Morgan Stanley has named SLB a top stock in the U.S. energy services and equipment sector. The stock has fallen nearly 11% this year, presenting a buying opportunity for investors, according to analyst Daniel Katz. Katz also highlighted SLB’s proposed acquisition of ChampionX as a further catalyst, writing that the deal will add long-term value to the stock. The analyst also took the opportunity to reiterate his bullish view on the energy services and equipment industry. “For the first time in nearly two years, we believe that the three major OFSE ‘analysis markets’ — North American shale, global offshore, and international onshore — are likely to be located on the ‘right side’ of the cycle curve for the relatively near future,” Katz wrote. He added that services stocks are currently trading at a “significant discount” compared to historical levels, but should normalize again in the near future. Morgan Stanley has an overweight rating on the stock with a $65 price target, suggesting a nearly 40% upside. — Lisa Kailai Han 5:41 a.m.: Jefferies upgrades United Airlines to Buy United Airlines is expected to continue to lead its peers, according to Jefferies. The investment bank upgraded the airline to Buy from Hold and raised its price target to $65 from $54. The new target suggests that United Airlines shares could rise 28% from Tuesday’s closing price. Analyst Sheila Kahyaogulu pointed to United’s investment in its product offering as a catalyst. Through United Next, the airline aims to introduce more than 800 aircraft. International profit margins, which are currently higher than domestic, should also be a factor in the stock’s rise. However, Kahyaogulu expects this trend to reverse over the course of the year. “UAL’s decision to retain its entire widebody fleet during the pandemic has helped it achieve record profits internationally, with a schedule significantly higher in 2023 than peers and 2019 levels,” she wrote. “With international strength expected to normalize in 2024, the focus will be on domestic strategy with United Next. The delay of the MAX-10 will halt fleet growth momentum.” Kahyaogulu cited shareholder-friendly management and increased free cash flow generation compared to the same period last year as further positives for the stock. United Airlines shares are up 23% this year. — Lisa Kailai Hung 5:41 AM: Bank of America Reaffirms Apple as Top Pick According to Bank of America, Apple shares could rise as consumers upgrade to AI-enabled smartphones. Analyst Wamsi Mohan reaffirmed his view that Apple is a top pick, maintaining his buy rating and $230 price target. The forecast suggests a 21% upside over the next 12 months. “We see the upcoming AI-enabled smartphone (IntelliPhone) driving a multi-year upgrade cycle, similar to the step function improvements driven by smartphone introductions,” Mohan said. “Given an installed base of over 4 billion smartphones, we believe the next upgrade cycle could be a once-in-a-decade event.”Apple has lagged other major technology companies this year, falling 1.3%, while Nvidia has soared 130%. AAPL YTD Mountain AAPL YTD — Fred Imbert
United Airlines upgrades, Apple takes top spot
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