(This is CNBC Pro’s live coverage of Thursday’s analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) Nvidia and a major dating stock were among the names featured Thursday by analysts. TD Cowen reiterated the chipmaker as a top pick, citing strong earnings ahead. Meanwhile, Morgan Stanley lowered its rating on Match Group, citing slowing growth for online dating. Check out the latest calls and chatter below. All times ET. 6:08 a.m.: JPMorgan upgrades JetBlue JPMorgan likes what it’s seeing from JetBlue . The bank upgraded the airline to neutral from underweight. Analyst Jamie Baker has a $7 price target, which indicates upside of 2.5%. While JetBlue has rallied 23% this year, Baker wrote that the stock is the second least-liked airline, according to sell-side ratings. But as the airline’s catalysts become even more clear in its upcoming earnings report and guidance, he expects sentiment around the stock to improve. Jetblue is slated to report earnings next week. JBLU YTD mountain JBLU year to date “Simply put, for airline investors intrigued by the notion of a potential domestic turnaround, we expect JetBlue to largely monopolize the spotlight going forward,” the analyst wrote. As one reason for the upgrade, Baker highlighted the company’s new management, which lacks the “high tolerance for loss production” as JetBlue’s previous CEO. Additionally, an activist shareholder has also joined the company. Additionally, the airline also has some solid fundamental business practices that are working in its favor. “JetBlue’s DNA aligns with our broader preference for loyalty, premium, and international exposure … albeit with less vigor than the Big 3,” the analyst wrote. “While we continue to expect JetBlue margins to trail those of the Big 3, in turn limiting our enthusiasm for the stock, we believe the combination of JetBlue’s New York real estate, established brand and management resolve may yield more turnaround momentum than elsewhere in the beleaguered domestic space.” — Lisa Kailai Han 5:47 a.m.: TD Cowen reiterates Nvidia as top pick The future looks even brighter for Nvidia , and TD Cowen expects the company’s upcoming results to reflect that. The firm highlighted Nvidia as its top pick in a recent note. Analyst Matthew Ramsay reiterated his buy rating and $1,100 price target on the name. This implies that shares of Nvidia could rally 31% from its Wednesday close. Share of the tech titan and Magnificent Seven darling have already rallied 70% this year. But Ramsay said its “full speed ahead” for the chipmaker. “Significant revenue and EPS growth are now largely expected following three consecutive quarters of the print coming in > $2B above previous company guidance,” the analyst wrote. Although some investors will question the sustainability of demand for Nvidia, Ramsay is much more confident that “all signs continue to point up” for the stock. He pointed to Nvidia’s March GPU Technology Conference, which highlighted its competitive advantage versus its peers, as well as its market-leading position as proof of its staying power. “NVIDIA remains the top franchise in accelerated compute and AI … and we are in the early innings of both paradigm shifts,” he wrote. “While valuation is above core semis, the suite of superior technology, long pedigree of innovation, and extensive growth-oriented investments should allow for strong, sustained, above-peer growth across a widening set of verticals.” Nvidia is slated to report earnings next month. — Lisa Kailai Han 5:47 a.m.: Morgan Stanley downgrades Match Growth in online dating is slowing, spelling trouble for Match Group , according to Morgan Stanley. Analyst Nathan Feather downgraded the Hinge and Tinder parent company to equal weight from overweight. He also cut his price target to $37% from $53, implying upside of 14.6%. “After 2 years of underperformance, we step to the sidelines on online dating as user growth remains cloudy,” Feather wrote. “We believe that soft user growth is more attributable to a lack of innovation than saturation as ~70% of US singles actively looking for a relationship do not currently use online dating.” “We are cautiously optimistic that innovation could reaccelerate user growth at Tinder and Bumble, especially as they have a wide slate of improvements to the core user experience planned for 2024,” he added. “However, visibility into the potential success of these initiatives is low and, as online dating is a momentum business, it will likely take some time to sustainably reaccelerate growth.” Match Group shares are down more than 11% year to date. Last year, the stock dropped 12%. MTCH YTD mountain MTCH year to date — Fred Imbert
Original news source Credit: www.cnbc.com
Business News, Investment strategy, JetBlue Airways Corp, Match Group Inc, NVIDIA Corp, stock markets
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