Here are Thursday's biggest calls on Wall Street: Bank of America reiterates IBM as buy Bank of America said the "portfolio is delivering" despite the company's mixed earnings report on Wednesday. "IBM reported a mixed F2Q with revenue and FCF exceeding expectations as Software and Infrastructure outperformed, while Consulting was weaker. The upside was partly driven by strong Transaction Processing revenues while areas like RedHat were weaker.
" Mizuho reiterates ServiceNow as buy Mizuho raised its price target on ServiceNow to $850 per share from $820 and said it's "evolving into a True Software AI Beneficiary" following earnings. "Evolving into a True Software AI Beneficiary; Raising PT to $850." Morgan Stanley reiterates Ford as overweight Morgan Stanley said it's sticking with Ford as a top pick following earnings on Wednesday.
"With the stock down 11% after 2Q results, Ford ranks 494 out of S & P 500 stocks on FY24 PE multiple." KeyBanc reinstates Shopify as overweight KeyBanc resumed coverage of the website for business company with an overweight rating. "We are resuming coverage at OW with an $80 PT, based on ~11.
7x FY24E EV/S. Our revenue estimates are slightly below the Street, reflecting tough comps, and our margin expectations are slightly behind the Street due to the continued penetration of Shopify Payments." Baird reiterates Apple as outperform Baird said it's sticking with the stock ahead of earnings on Aug.
1. "We reiterate our Outperform rating of AAPL and ar.