Rivian Automotive was upgraded to neutral by UBS. Meanwhile, HSBC upgraded AMD to buy, calling for more than 35% upside in the stock. Check out the latest calls and chatter below. All times ET. 7:50 a.m.: Northrop Grumman is Morgan Stanley's top defense pick Morgan Stanley says sentiment toward the defense sector is improving — and Northrop Grumman is its favorite pick. The "defense primes," or the top defense contractors of the U.S.
mountain DraftKings in past year — Hakyung Kim 6:32 a.m.: GE Vernova is a buy, according to Goldman The newly spun-off GE Vernova will be a winner in the energy transition and decarbonization trend, says Goldman Sachs. GE Vernova split from General Electric and began separately trading earlier this month. Analyst Joe Ritchie initiated a buy rating on the stock. His price target of $154 implies almost 17% upside potential from where shares closed on Monday.
mountain NVDA year to date — Hakyung Kim 5:53 a.m.: Deutsche steps to the sidelines on Honeywell Industrials stock Honeywell's lackluster growth is failing to create confidence in its stock performance, said Deutsche Bank. Honeywell shares are down 7.5% in 2024. By comparison, the multi-industry and electrical equipment group in the industrials sector has gained a median 13% year to date. The company hasn't been able to outperform the group since 2019, according to Deutsche.
mountain Rivian year to date — Fred Imbert 5:39 a.m.: HSBC upgrades AMD to buy The recent pullback in AMD shares has created a more attractive risk-reward backdrop, according to HSBC. The bank upgraded shares to buy from hold. Analyst Frank Lee also raised his price target to $225 from $180, implying shares rallying nearly 38% from Monday's close.
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