(This is CNBC Pro's live coverage of Wednesday's analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) A chipmaker and a lab equipment maker are among the stocks being talked about by analysts on Wednesday.
Morgan Stanley raised its price target on Ambarella to $73, implying upside of nearly 40%. Meanwhile, Wells Fargo initiated Thermo Fisher with an overweight rating. Check out the latest calls and chatter below.
All times ET. 6:12 a.m.
: Deutsche Bank upgrades ArcelorMittal Despite a "weak cycle" which has pushed more bullish ArcelorMittal investors into a "reality check," Deutsche Bank thinks shares still have significant upside potential at current trading levels. The firm upgraded shares of the steel producer to buy from hold on Wednesday and increased its price target on them. U.
S.-listed shares have pulled back more than 17% in 2024. "We expect a tough H2 (and we remain slightly below the Street)," analyst Bastian Synagowitz said.
"However, we believe the risks are better understood at these levels, as we are near the bottom in the physical cycle." "GGiven a material growth pipeline in high-multiple businesses (with a large portion of capex already spent), we believe this provides material upside potential," the analyst added. — Brian Evans 5:56 a.
m.: Wells Fargo initiates Thermo Fisher as overweight As fundamentals improve in the life science tools and diagnostics initiation sector, Wells Fargo lists Thermo Fisher as one.