DoorDash, AMD upgraded: Wall Street's top analyst calls

The most talked about and market moving research calls around Wall Street are now in one place. Here are today's research calls that investors need to know, as compiled by The Fly.Top 5 Upgrades:
Raymond James upgraded DoorDash (DASH) to Strong Buy from Outperform with a price target of $260, up from $215. The firm believes the synergy potential with Deliveroo is underappreciated at current share levels, forecasting mid-teens EBITDA accretion in 2026 and high-teens in 2027.
Melius Research upgraded AMD (AMD) to Buy from Hold with a price target of $175, up from $110, citing the view that "many things have changed for the better since the beginning of the year."
Deutsche Bank upgraded Estee Lauder (EL) to Buy from Hold with a price target of $95, up from $71. The firm sees increasing evidence that the company's strategy is diversifying well beyond China and travel retail for future growth, underpinned by moves to accelerate innovation and migrate decision-making geographically closer to where business gets done.
BofA upgraded Omnicom (OMC) to Neutral from Underperform with an unchanged price target of $80. The firm shares investor concerns around the pending Interpublic Group (IPG) merger and related integration risks, but the firm's recent trip to the Cannes Lions and meeting with various industry stakeholders provide "enough confidence on both structural trends and cyclical dynamics" to upgrade the shares.
Wells Fargo upgraded FMC (FMC) to Overweight from Equal Weight with a price target of $50, up from $41. The firm is "increasingly confident" that 2024 will mark the near-term bottom for FMC's earnings given positive market trends and strategic actions.
Top 5 Downgrades:
Craig-Hallum downgraded Oklo (OKLO) to Hold from Buy with a price target of $59, up from $43. Given its "build, own, operate" model, Oklo is charting a regulatory path in which it will be both the nuclear technology provider and the project owner with it supplying baseload zero emissions power and heat to end users in the AI data centers and other applications, the analyst tells investors.
Scotiabank downgraded AST SpaceMobile (ASTS) to Sector Perform from Outperform with an unchanged price target of $45.40. The firm cites valuation for the downgrade with the shares above the price target following the "impressive rally."
BofA downgraded Equifax (EFX) to Neutral from Buy with a price target of $285, down from $300. The firm was "underwhelmed" by the company's investor day.
BMO Capital downgraded Dow Inc. (DOW) to Underperform from Market Perform with a price target of $22, down from $29. The "significant weakness" across the company's end markets resulting in soft pricing and lower volumes is likely to result in "severely challenged" Q2 EBITDA and second half of the year estimates "coming solidly lower," the analyst tells investors in a research note.
KeyBanc downgraded KBR (KBR) to Sector Weight from Overweight without a price target after the Department of Defense formally terminated KBR's HomeSafe program for cause last Wednesday. The firm believes that for investors to appreciate KBR's discount valuation, they "needed a defensible rebasing" of the long-term outlook.
Top 5 Initiations:
JPMorgan initiated coverage of DraftKings (DKNG) with an Overweight rating and $50 price target. The firm says land-based U.S. gaming faces macro uncertainty and risk of tariffs pressuring consumers in the second half of 2025.
JPMorgan initiated coverage of Penn Entertainment (PENN) with an Overweight rating and $24 price target. The firm says land-based U.S. gaming faces macro uncertainty and risk of tariffs pressuring consumers in the second half of 2025.
GLJ Research initiated coverage of GE Vernova (GEV) with a Buy rating and $702 price target. The firm says investors and analysts are increasingly stepping away from GE Vernova, a "best-in-class" power generation manufacturing story, citing valuation and a slowing event-path.
TD Cowen initiated coverage of Soleno Therapeutics (SLNO) with a Buy rating and $110 price target. The firm says Vykat XR "bucked the trend of clinical shortcomings" in Prader-Willi syndrome by becoming the first-approved treatment for hyperphagia in this devastating genetic syndrome.
Craig-Hallum initiated coverage of Sphere Entertainment (SPHR) with a Buy rating and $75 price target. The Sphere is disrupting the traditional venue model with "awe-inspiring" and immersive live events and unique original "Sphere Studios" shows, but one that can charge premium pricing, have significantly better utilization, and generate substantial advertising revenue via the Exosphere, the analyst tells investors in a research note.

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

Yahoo

40 minutes ago

• Yahoo

Is AMD Stock a Buy, Sell, or Hold on Untether AI Acquisition?

Over the past decade, Advanced Micro Devices (AMD) has thrived, rewriting its legacy in the fiercely competitive semiconductor arena. The company has evolved from an industry underdog to a headline name in innovation, particularly in artificial intelligence (AI). Adding another feather to its cap, in early June, AMD announced it has brought onboard the team behind Untether AI. These engineers, known for building AI inference chips that outperform rivals in both speed and energy efficiency, will now strengthen AMD's skills in enterprise data centers and edge computing. Robotaxis, Powell and Other Key Things to Watch this Week Make Over a 2.4% One-Month Yield Shorting Nvidia Out-of-the-Money Puts Is Quantum Computing (QUBT) Stock a Buy on This Bold Technological Breakthrough? Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! Far more than just a hiring spree, the strategic agreement brings in deep expertise in AI hardware, software, compiler engineering, kernel development, and system-on-chip design, all critical in the fast-moving AI race. The move is no isolated bet. Just weeks ago, AMD acquired silicon photonics firm Enosemi to scale its co-packaging capabilities, and days later, it snapped up open-source software player Brium. So, let us now examine whether the latest move strengthens AMD's position as a compelling investment opportunity. Advanced Micro Devices (AMD), headquartered in Santa Clara, California, holds a market cap of $205.6 billion and leads the charge in high-performance computing. The company delivers a powerful mix of CPUs, GPUs, FPGAs, Adaptive SoCs, and deep software capabilities to build cutting-edge platforms that support cloud infrastructure, edge computing, and end-user systems. Over the past three months, AMD has been on an upward march, posting gains of 22.5%. In just the last five trading days, the stock has leapt another 4.7%, a sharp spike that points to fresh tailwinds lifting the company higher. On May 6, Advanced Micro Devices lifted the curtain on its Q1 2025 earnings, and its performance beat analyst expectations. The chipmaker reported revenue of $7.44 billion, rising 35.9% year over year and exceeding Wall Street's forecast of $7.12 billion. At the heart of this impressive run was the data center segment, which delivered $3.7 billion in revenue, marking a 57% surge from the same period last year. Other divisions joined the rally too. The client and gaming business generated $2.9 billion combined. While the client unit saw a dramatic upswing of 68%, bringing in $2.3 billion, the gaming segment faced continued headwinds, falling 30% to $647 million. Still, the gains elsewhere helped AMD widen its gross margin to 50%, a solid jump from 47% a year ago, aided by a richer product mix and stronger data center sales. Non-GAAP net income climbed 54.6% to reach $1.6 billion, reinforcing the company's strong operational grip. Adjusted EPS came in at $0.96, up 54.8% from the prior year and again beating the Street's projection of $0.93. But despite the bullish results, AMD struck a cautious tone. Management has flagged export restrictions on A.I. chips to China, estimating a $700 million revenue hit this quarter and a total impact of $1.5 billion for the fiscal year. Even so, AMD forecast Q2 revenue at $7.4 billion. While analysts see EPS dipping 30% year over year to $0.35 in Q2, they expect it to rise 20.6% to $3.16 for the full year and jump 54.1% to $4.87 in fiscal 2026. AMD stands firm in the market, demonstrating steady confidence as it secures a 'Moderate Buy' consensus. Out of 42 analysts closely following the stock, 28 give it an enthusiastic 'Strong Buy' rating, one leans toward a 'Moderate Buy,' and 13 adopt a cautious 'Hold' stance. The average price target of $133.32 represents potential upside of 5.6%. Meanwhile, the Street-High target of $200 hints at a 58.7% climb from current levels. On the date of publication, Aanchal Sugandh did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on

TechCrunch

an hour ago

• TechCrunch

Four months after a $3B valuation, Harvey AI grows to $5B

Harvey AI, a startup that provides automation for legal work, has raised $300 million in Series E funding at a $5 billion valuation, the company told Fortune. The round was co-led by Kleiner Perkins and Coatue, with participation from existing investors, including Conviction, Elad Gil, OpenAI Startup Fund, and Sequoia. The financing comes just four months after Harvey announced that Sequoia led a $300 million Series D round at a $3 billion valuation. While many AI companies aim to keep headcount low, Harvey is rapidly expanding its staff. The three-year-old startup already employs 340 people and plans to double that number with its fresh funds, Fortune reported. Some of the new staff will be hired to help Harvey build AI products for professional services beyond legal, including tax accounting. The company's AI solutions, which assist lawyers in reviewing documents and drafting contracts, are used by 337 legal clients. Harvey has been growing at a rapid clip, reaching an annualized run-rate revenue of $75 million in April, up from $50 million earlier in the year, Reuters reported last month. Some of Harvey's competitors include older legal startups, such as 10-year-old Ironclad and 17-year-old Clio, which raised a $300 million round at a $3 billion valuation last year.

Scientific American

an hour ago

• Scientific American

AI Could Be Harnessed to Cut More Emissions Than It Creates

CLIMATEWIRE | Artificial intelligence could cut global climate pollution by up to 5.4 billion metric tons a year over the next decade if it's harnessed in ways that would improve transportation, energy and food production. Those reductions would outweigh even the expected increase in global energy consumption and emissions that would be created by running power-hungry data centers associated with AI, according to research by the Grantham Research Institute that was published in the journal npj Climate Action. 'The key will be to channel practical AI applications towards key impact areas to accelerate the market adoption rate and efficiency of low-carbon solutions,' the study said, noting that governments will have a vital role to play. On supporting science journalism If you're enjoying this article, consider supporting our award-winning journalism by subscribing. By purchasing a subscription you are helping to ensure the future of impactful stories about the discoveries and ideas shaping our world today. 'Governments must regulate AI to minimise their environmental footprint,' the study said, pointing to the need for energy efficient AI models and the use of renewable energy to power data centers. It also says governments should invest in AI infrastructure and education in developing countries, 'ensuring that the benefits of AI are shared equitably.' The use of AI has boomed in recent years and President Donald Trump has made its expansion a priority as he seeks to outcompete China on advanced technologies. But its voracious use of energy has raised concerns about its climate impact, particularly as Trump and other officials argue that winning the race for AI is a reason to expand fossil fuels. The International Energy Agency projects that by 2030 data centers will consume twice as much electricity as they do today. Growing energy demands are already challenging the U.S. grid, and oil companies are using AI to find new areas to drill. BloombergNEF has said fossil fuels will provide most of the new power for data centers over the next decade, imperiling efforts to cut carbon pollution. There are ways to mitigate the damage, the Grantham study said. It outlines five areas where AI can be harnessed to reduce emissions, including consumer behavior, energy management and technology innovation. For example, AI can help integrate renewables into the grid by better forecasting supply and demand fluctuations and help the grid distribute energy more accurately, reducing concerns about intermittency. That can increase the uptake of solar and wind and lower the use of polluting backup power sources, the report said. 'Power grids are at the heart of the entire economy, so improving their efficiency reduces emissions across multiple sectors,' Roberta Pierfederici, a policy fellow at the Grantham Research Institute and author of the study, said in an email. AI can also identify new types of protein to replace meat and dairy in human diets — industries that are heavy emitters. And it can improve transportation by lowering the cost of electric vehicles through battery improvements or encouraging people to switch to shared transport. Those actions combined could reduce emissions by 3.2 billion to 5.4 billion metric tons of carbon dioxide equivalent annually by 2035 compared to their current trajectory, the study said. That's more than the entire European Union. By comparison, the U.S. released 6.2 billion metric tons of climate pollution in 2023. Those cuts are not in line with what's needed to keep global temperatures from rising more than 1.5 degrees Celsius since the beginning of the industrial age. But they could keep a check on warming by more than offsetting the emissions released by using AI. The study estimated that energy emissions tied to data centers and AI will reach 0.4 billion to 1.6 billion metric tons of CO2 equivalent over the next decade. The study does have its limitations, given how quickly the field of AI is changing. The authors acknowledged that they might have underestimated AI's potential to reduce emissions, because they only looked at how AI is applied currently to three sectors. On the other hand, the study didn't consider how energy efficiency gains from AI could lead to increased consumption elsewhere that could drive emissions up. Pierfederici said while the rise in emissions from data centers is a valid concern, she believes the study makes a strong case for using AI to help tackle rising temperatures. 'That said, governments need to play an active role in guiding how AI is applied and governed, to make sure the downsides are managed effectively and the full potential of AI for climate action is realized,' she added.