4 Big Analyst Picks: NVIDIA Offers 3 Upgrades on Strong Earnings and Outlook

4 Big Analyst Picks: NVIDIA Offers 3 Upgrades on Strong Earnings and Outlook

Here’s your professional recap of the biggest analyst picks you may have missed since yesterday: upgrades to NVIDIA, Carnival, Toll and Futu.

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Nvidia receives 3 upgrades after strong Q1 results

NVIDIA (NASDAQ:) upgraded in three Wall Street companies after the company announced its first quarter, beating Street estimates and providing significantly better-than-expected guidance, as InvestingPro Realtime reported.

As a result, shares jumped more than 24% yesterday. First-quarter EPS came in at $1.09 on revenue of $7.19 billion, versus consensus estimates of $0.92 and $6.52 billion, respectively. The company expects Q2/24 revenue to be $11.00 billion, plus or minus 2%, beating the consensus estimate of $7.15 billion. This is attributed to the growing demand for its AI chips, used in ChatGPT and similar services.

Craig Hallum upgraded the company to Buy from Hold and raised its price target to $500.00 from $190.00, while Wedbush upgraded to Outperform from Neutral, increasing its price target to $490.00 from $290.00. Baird moved its rating from Neutral to Outperform with a price target of $475.00 (was $300.00).

Carnival upgraded to City

City upgraded Carnival (NYSE:) to buy Neutral and raised its price target from $10.00 to $14.00, noting that the company’s balance sheet is at a “turning point” as the industry cruises is recovering from pandemic-era restrictions.

“Like arguably the latest COVID reopening story, the pandemic tailwinds to the cruise industry are greater than any macro headwinds,” the bank said, adding that new CEO Josh Weinstein’s turnaround efforts are working. .

2 additional upgrades

RBC Capital improved Toll Brothers (NYSE:) to outperform of Sector Perform and raised its price target to $77.00 from $55.00 after a strong pace in the second quarter, sending the stock up more than 4% yesterday.

The company believes sentiment has been too negative on a relative basis given Toll’s high-end, west coast and build-to-order exposures, with recent trends showing it has seen similar improvement to Toll’s. peers.

Zelman & Associatesanother Wall Street firm, moved the company to Buy from Hold.

Swiss credit upgraded Futu (NASDAQ:) to outperform of Neutral with a price target of $49.00.

The company reported its first quarter on Wednesday, with revenue above the consensus estimate.

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