(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.) Two companies involved in leadership shake-ups were among the stocks being talked about by analysts on Wednesday.
Several analysts raised their ratings and price targets on Starbucks a day after news that Chipotle CEO would take over at the coffee chain. Starbucks shares rallied on the news, while Chipotle shares fell. Despite the latter stock's pullback, Bernstein sees it as a buying opportunity.
Check out the latest calls and chatter below. All times ET. 5:59 a.
m.: Morgan Stanley steps to the sidelines on Intuit Near-term risks are weighing on Intuit shares, according to Morgan Stanley. Analyst Keith Weiss downgraded the software stock to equal weight from overweight.
He also lowered his price target on shares to $685 from $750, which implies just 6% upside from Monday's close. Intuit has notched strong operating margin and earnings per share growth over the last four years and managed to outperform the median large-cap software stock by more than 50%, per Weiss. However, he thinks the company's growth strategy shift toward pricing mechanisms have led to it losing ground across its portfolio.
The company launched price increases on TurboTax. "Consistent solid growth has long sustained INTU's multiple premium versus peers. Now along with the increased volatility from recently acquired CK and Mailchimp, we fear pushing too hard .