Here are Wednesday’s biggest calls on Wall Street: Bank of America reiterates Boeing as the US Central Bank says Boeing has become a turning point. “Balanced short-term catalysts with long-term problems and challenges is key to understanding BA stock, in our view.” Credit Suisse initiates ChargePoint because it performs better Credit Suisse said when initiating ChargePoint that it had a first-mover advantage. “We rate ChargePoint positively, as it benefits from a capital-light growth model, a first-mover advantage with integrated solutions, and an attractive valuation.” Read more about this call here. Morgan Stanley downgrades AstraZeneca to the same weight as overweight Morgan Stanley says it sees a more balanced risk/reward for the bio company. “AZN stock has benefited from its attractive GARP profile and aggressive R&D catalyst in 2022. While there are plenty of catalysts ahead in 2023, we’ve downgraded to Equal-weight. to reflect short-term earnings risk, higher levels of U.S. drug pricing legislation and relative valuation considerations.” RBC initiated Petco because it outperformed RBC, the physical retailer said. This pet has a good place to share. “While short-term noise in the face of a weakening consumer environment is inevitable, we believe much of the risk is posed at these levels. In the long-term, we believe the company is at its best. Well positioned to capture market share of fast growing US pet portfolio revised corporate strategy, structurally advantageous real estate portfolio and expansion opportunities vet.” Wolfe upgrades Pinterest to outperform peer-to-peer performance Wolfe said during its stock upgrade that it sees some positive catalysts ahead. “We are upgrading PINS to Outstanding Capability with $28 PT using 30x EBITDA FY23. Our optimistic view focuses on LT user growth and PINS monetization potential under the Director. new CEO.” Read more about this call here. Jefferies, which initiated Red Rock Resorts when it acquired Jefferies, said the casino company was a “compelling growth story”. “Red Rock presents a compelling growth story, in our view, with valuable real estate properties strategically located in a booming area of Las Vegas.” Goldman Sachs reiterated Apple is neutral Goldman said investors should keep a close eye on pricing details when Apple announces its products Wednesday afternoon. “Entering Apple’s big annual iPhone event, we’re most concerned with how the company will approach pricing. We don’t believe it’s likely that Apple will raise the price of the Pro model as we believe this is likely. generate a lower contribution to total profit by pushing Pro owners to discount more quantities to reduce ASP (average selling price) for non-Pro devices.” Cantor calls Sprout Social an idea Best Cantor says the social networking software company’s stock is undervalued. “SPT is a provider of social media management (SMM) software. Effectively, brands rely on SPT to coordinate, execute, and achieve transparency in their social media strategy. across all major platforms.” MKM downgraded Electronic Arts to neutral with its acquisition MKM said in downgrading the video game maker that it sees “the possibility of further compressing profits.” “While the depth of EA’s development path remains sizable, we believe a meaningful acceleration in releases will not occur as previously predicted in FY24 but rather in FY24. finance 25”. Barclays echoed Starbucks as overweight Barclays said it was bullish on Starbucks stock ahead of the company’s investment day next week. “Starbucks will be hosting their ’22 Investor Day on Tuesday, September 13, in Seattle. We consider Starbucks a large-cap, high-growth, global consumer company led by dominant US retail & consumer products platform. China-led growth and a best-in-class digital platform. And we’re thrilled by the new CEO hire.” Macquarie Upgrade Netflix comes neutral from underperforming Macquarie says it’s becoming more constructive on the company’s new ad-level platform. “Globally, we model an ad revenue opportunity of $8.5 billion, or a total revenue increase of $2.1 billion by 2025E, if Netflix ramps up its international ad sales efforts. fast and let’s say the ad level attracts 10% more to the base sub in EMEA, LatAm, and APAC.” Morgan Stanley calls Biogen the idea that drives the catalyst Morgan Stanley names the stock the idea that drives the catalyst partner and said Biogen’s stock has a “favorable uptrend and sees a positive risk/reward”. “Top Ph3 data for Alzheimer’s drug lecanemab is expected in the fall. Our base case is a failed study, in line with market expectations, but we tend to be biased.” increase more favorably and see a positive risk/reward for the BIIB.” Telsey reiterates Bed Bath & Beyond is a less efficient operation than Telsey said it remains concerned about a drop in sales as the company operates with an interim CEO and CFO. “Our takeaway from last week’s strategy update is that Bed Bath & Beyond has enhanced its liquidity position and is making more aggressive cuts to adjust its cost structure to lower sales, but there has been no positive change in its sales trends in recent months, with a 2Q22 figure of (26%).” DA Davidson reiterated Amazon when it bought DA Davidson maintained its buy rating on the stock. Amazon’s vote but said video content from “The Lord of the Rings” combined with an increase in Prime costs could cause subscribers to cancel. “A large number of consumers may not be interested in LOTR (Lord of the Rings), may be unhappy about the increase in prime membership (from $119 to $139) reflecting cost of video content (such as LOTR) and, therefore, are more likely to have their membership canceled.” Bernstein calls Grab Holdings a best idea Bernstein names the multimedia technology company country is a good idea, noting that it benefits from the lack of disruptive competitors. “We expect Grab’s ride-hailing bookings to grow at a CAGR of 29% during the period 22-24 CY22, with EBITDA/GMV (gross profit margin) remaining at c12%. This profit, even after including overheads and settlement costs, remains the best globally.” Bank of America recalled Warner Brothers Discovery and Disney when buying Bank of America said Warner Brothers and Disney made the best use of a promotional video on the requesting platform. “Although it’s still early days, in our opinion, DIS and WBD are best positioned in the AVOD market based on their size, breadth and depth of content. reiterating their Overweight ratings me while raising our price target to $270 per share (compared to $263 previously) on MCD stock McDonald’s dominates its affordability position, which is not representative of the industry, and based on their global scale advantage.”