(This is CNBC Pro's live coverage of Tuesday's analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) A shoe stock and a doughnut maker were among the stocks being talked about by analysts on Tuesday.
Morgan Stanley upgraded Skechers to overweight. Meanwhile, HSBC raised its rating on Krispy Kreme to buy from hold. Its price target implies more than 30% upside.
Check out the latest calls and chatter below. All times ET. 5:53 a.
m.: HSBC upgrades Krispy Kreme Krispy Kreme's sale of its stake in Insomnia Cookies could boost its fundamentals, according to HSBC. The bank upgraded shares of the doughnut maker to buy from hold, while standing by its target price of $14.
This implies that shares of Krispy Kreme could rally 31% from Monday's close. Krispy Kreme stock is down 29% on the year, but analyst Sorabh Daga pointed to the company's announcement that it was selling its majority stake in Insomnia Cookies as a positive catalyst. He also likes the company's partnership with McDonald's to put doughnuts in the fast food giant's stores.
DNUT YTD mountain DNUT in 2024 "While the stock has pulled back 26% YTD, the operating outlook has improved with the McDonald's announcement in March 2024 and a potential debt reduction with today's announcement," Daga wrote. "This move comes with a rising focus on the core business of selling and distributing fresh doughnuts ..
. We like these moves to simplify the business and strengthen the core hub & sp.