Here are Wednesday's biggest calls on Wall Street: RBC upgrades Estee Lauder to outperform from sector perform RBC said it sees an attractive risk/reward. "We are upgrading EL shares to Outperform. At this point, we believe EPS and investor sentiment have troughed and believe the risk-to-reward profile skews favorable.
" Raymond James initiates Taylor Morrison as outperform Raymond James said it's bullish on shares of the homebuilder. "We are initiating coverage of Taylor Morrison Homes with an Outperform rating and a $75 price target, representing an 8.3x multiple applied to our initial 2025 EPS estimate.
" Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's standing by shares of Tesla following the release of disappointing earnings. "No big change in outlook. Tesla's muddling through the EV recession.
That's okay." TD Cowen initiates JFrog as buy TD Cowen said the software company is an attractive cloud story. "Our thesis is 1) FROG is the standard for binary mgmt w/ durable competitive advantages & is mission critical; 2) Cloud story is attractive & we see a buying opportunity after the seasonally weaker.
" TD Cowen upgrades Lockheed Martin to buy from hold TD said it sees "enhanced visibility" with F-35 deliveries restarting for the defense company. "We're upgrading LMT from Hold to Buy and hiking our PT to $560..
" Goldman Sachs upgrades Spotify to buy from neutral Goldman said it's getting bullish on the streaming media company following earnings. "On the.