(This is CNBC Pro’s live coverage of Friday’s analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) Nvidia and Nike were among the major stocks garnering analyst attention Friday. The chipmaker was initiated with an outperform rating by Loop Capital, which set a Wall Street-high price target that calls for 65% upside. On the other hand, Oppenheimer downgraded Nike and cut its forecast on the stock. Check out the latest calls and chatter below. All times ET. 6:31 a.m.: Carvana downgraded to underperform by Raymond James Carvana’s near-term growth outlook is in question, according to Raymond James. The firm downgraded shares to underperform from market perform on Friday. It does not have a price target on the stock for its base case scenario. Over the past year, the stock has soared more than 400%, which has raised valuation concerns. CVNA 1Y mountain CVNA in past year “The path forward remains encumbered with sector-wide affordability issues and a ‘show me’ narrative concerning CVNA’s ability to drive revenue growth alongside profitability,” analyst Mitch Ingles wrote in a Friday note. “While the company’s internal restructuring and market adaptation strategies have fortified its position, external market conditions and sector-specific challenges may dampen the near-term growth trajectory,” Ingles added. The analyst is looking for improved sales growth and sustained profitability before re-entry the used car stock. Carvana is reporting earnings Feb. 22. — Hakyung Kim 6:15 a.m.: Jefferies forecasts more than 25% upside for América Móvil Latin American telecom giant América Móvil’s falling capital expenditure guidance is setting the stock up for an “inflection point” this year, said Jefferies. Analyst Alex Wright upgraded shares to buy from hold. He also raised his price target on U.S.-traded shares to $22.22 from $19.16, implying shares could rise 27% from Thursday’s close. The company issued capex guidance of $7 billion in 2024, a decline from an average annual of $8.4 billion from 2021 to 2023 following spending on 5G rollouts and increased capacity. This should lead to a rise in free cash flow generation, said Wright said. In addition, shares are now trading near a 10-year low, creating an opportune entry point for investors, per the analyst. He named the company as one the firm’s top picks across telecom companies in the Latin America region. Year to date, the stock is down around 3.5%. AMX YTD mountain AMX in 2024 — Hakyung Kim 5:46 a.m.: UBS steps to the sidelines on Newell Brands Consumer goods company Newell Brands is currently “too difficult to defend,” according to UBS. The firm downgraded shares to neutral from buy. It also cut its price target by $1.50 to $8.50, suggesting just 6.2% upside potential from Thursday’s closing price. According to analyst Peter Grom, CEO Chris Peterson’s turnaround strategy for more consistent financial delivery and multiple expansion hasn’t yet delivered as much progress as expected. The firm forecasts Newell Brands will return to top-line growth in 2025. “At this stage we would need a more attractive valuation or greater visibility into profitable top line growth in order to become constructive again,” Grom wrote in a Thursday note. Newell shares have struggled this year, losing 7.8%. — Hakyung Kim 5:41 a.m.: Oppenheimer downgrades Nike Don’t expect much out of Nike shares in the near future, according to Oppenheimer. The firm downgraded the apparel giant to perform from outperform and slashed its price target to $110 per share from $150. The new forecast implies upside of just 3.7%. “Longer-term prospects for NKE and the company’s equity remain compelling,” wrote analyst Brian Nagel. “That said, as we re-examine closely the nearer-term outlook for NKE, we come away increasingly concerned that over the next several quarters that top-line trends at the enterprise are likely to remain sluggish … given a combination of underlying, spotty consumer demand, lulls in product innovation, and modest competitive incursions, in select categories.” Nike shares have lagged in early 2024, losing 2.3%. The S & P 500, meanwhile, is up 5.5% year to date. The stock fell 0.7% in the premarket. NKE YTD mountain NKE year to date — Fred Imbert 5:41 a.m.: Loop Capital sets Street-high price target on Nvidia Nvidia shares have had a stellar run in the last year — and Loop Capital believes there’s 65% more upside potential ahead. “We’re gonna party like it’s 1995!” the firm wrote in a Thursday note, referring to the dot-com bubble of the 1990s. The firm initiated the chipmaker with a buy rating and a $1,200 price target. The forecast, which is a Street high, implies shares gaining 65% from Thursday’s close. Over the last 12 months, the stock has soared more than 200% amid the excitement around AI. “We believe not only is there material upside to Street estimates in CY2024/FY2025 & CY2025/FY2026, but that we are at the front end of a 3–5 year GPU compute & Gen AI foundational build across Hyperscale,” analyst Ananda Baruah said in the note. “Our work suggests NVDA’s largest customers will be taking everything NVDA can give them in 2024 and 2025.” Shares added more than 1% Friday before the bell. — Hakyung Kim
All the market-moving chatter from Wall Street Friday morning
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