July 9, 2020
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Here are the largest analyst calls on Friday: Apple, Tesla, Slack, Oracle, Ulta and others

Here are the largest analyst calls on Friday: Apple, Tesla, Slack, Oracle, Ulta and others

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(This story is for CNBC PRO subscribers only.)

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Here are the biggest calls on Wall Street on Friday:

Jefferies raises Apple’s target price to $ 405 from $ 370

Jeffries raised his target stock price to the high of the street and said he is more optimistic when the 5G cycle begins.

“We are increasingly confident in the capabilities of Apple with the 5G cycle, as we analyze new data and take into account growth factors. In particular, we are better at Apple’s ability to hold retail prices for the launch of the new 5G version in the fall, which is the same as last year. while maintaining a high gross margin. We reiterate our Buy recommendation and raise our price to $ 405. ”

Read more about this call here.

Goldman Sachs Downgrades Slack Neutral Sale Rating

Goldman downgraded the business messaging service rating and said it faced competitive pressures and an “ongoing battle” for market share with Microsoft Teams.

“Despite the fact that Slack was in the near future a beneficiary of the work environment, the main focus here will be that we expect this to be a long struggle with Microsoft teams for market share. While we still consider Slack to be the best. We expect that in the class that offers group messaging, which is endorsed by the technical community, MSFT teams will continue to try to use their packaging in Office 365 to drive a wider rollout, thereby creating potential for a more competitive environment. the likelihood that this will affect Slack’s long-term growth rate and penetration of its targeted market. ”

Source

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