5 big analyst picks: Nvidia stock gets huge upgrade to Buy

5 big analyst picks: Nvidia stock gets huge upgrade to Buy | Pro Recap

April 18, 2023
2 minute read
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Here is your daily Pro Recap of the biggest analyst picks you may have missed since yesterday’s close: Nvidia’s double upgrade, plus upgrades for Comcast, Emerson and more.

HSBC does a 180 on Nvidia

HSBC upgraded Nvidia (NASDAQ:NVDA) to Buy from Reduce and raised its price target to $355.00 from $175.00. Shares are up more than 1% premarket today.

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Earlier this month, BofA Securities reported that its Steam survey showed Nvidia’s strong share gains are continuing, with the biggest takeaway being the company’s surprising jump in GPU share to 82.6% of gamers, up 700bps month-on-month.

Last week, several analysts raised their price targets on the company, including Piper Sandler with a new target of $320.00 (from $300.00) and maintained Overweight rating, Evercore ISI with a new target of $320.00 (from $300.00) and maintained Outperform rating, and KeyBanc with a new target of $320.00 (from $280.00) and maintained Overweight rating.

The company will report its Q1/24 earnings results on May 24. Consensus estimates stand at $0.91 for EPS and $6.48 billion for revenues.

Comcast upgraded to Overweight ahead of Q1 earnings next week

Atlantic Equities upgraded Comcast (NASDAQ:CMCSA) to Overweight from Neutral with a price target of $44.00.

The company is set to report its Q1/23 earnings results on April 27. Consensus estimates stand at $0.83 for EPS and $29.4B for revenues.

Earlier this month, KeyBanc upgraded the company to Overweight from Sector Weight with a price target of $44.00.

3 more upgrades

Wolfe Research upgraded Emerson (NYSE:EMR) to Outperform from Peerperform with a price target of $103.00 following the stock’s significant underperformance year-to-date.

According to the firm, the National Instruments (NASDAQ:NATI) transaction (last week the board has accepted Emerson’s $60 bid) marks the start of the next phase, with the new EMR emerging as a higher growth and quality company, and at a significant valuation discount.

KeyBanc upgraded Sunrun (NASDAQ:RUN) to Overweight from Sector Weight with a price target of $27.00. Shares rose more than 3% premarket today following a more than 5% gain yesterday.

Morgan Stanley upgraded Nabors Industries (NYSE:NBR) to Equalweight from Underweight while cutting its price target to $165.00 from $175.00. The company is set to report its Q1/23 earnings on April 24.