Loop has initiated coverage of AppLovin as a buy, stating that the software publisher is an indispensable infrastructure for the mobile gaming industry. They have given it a Buy rating and a $181 price target. Bernstein has initiated Costco as outperform, highlighting it as the highest quality company in their coverage. Despite trading at an expensive valuation, Bernstein believes that Costco’s consistent earnings power and growth potential are undervalued. They have also initiated Walmart as outperform, stating that the big-box retailer is best positioned for success. Citi has upgraded First Solar to buy from neutral, citing that the solar company is a winner regardless of the election outcome. Mizuho has initiated Cadence and Synopsys as outperform, expressing bullish sentiment towards both software companies. Jefferies has reiterated Tesla as hold, raising their price target on the stock. Morgan Stanley has reiterated Apple as a top pick, standing by their long-term AI upgrade cycle thesis. Loop has also reiterated Microsoft as buy, expecting solid earnings results. Bank of America has reiterated Meta as buy, noting its strong position in artificial intelligence. Redburn Atlantic Equities has initiated Mondelez as buy, considering it a top idea. KeyBanc has initiated Zeta Global as overweight, praising the marketing software company’s platform. Stifel has initiated Braze and Klaviyo as buy, highlighting their strong positions in the software space. Morgan Stanley has reiterated Disney as overweight, anticipating more upside in Disney shares. Citi has upgraded Fluor to buy from neutral, citing nuclear upside for the engineering and construction company. JPMorgan has downgraded Hertz to underweight, citing high financial leverage. BTIG has downgraded Deckers to neutral from buy, as growth moderates. Jefferies has upgraded Paylocity to buy from hold, noting its strong positioning in payroll systems. Guggenheim has named Itron a top idea, expressing confidence in the water tech solutions company. KeyBanc has initiated Flex as overweight, praising the multinational manufacturing company’s resilience and profitability.
