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1. Walt Disney (NYSE:DIS) was upgraded by MoffettNathanson to Outperform from Market Perform with a price target of $120 The analyst said, “We applaud Disney’s Board for the courage to make this change,” and added, the “magic is back.” He continued, “We have never hidden our affection for Mr. Iger and the job that he did in building Disney into the global powerhouse that it has become.”
2. Mobileye (NASDAQ:MBLY) was initiated at Raymond James with a Strong Buy rating and a price target of $50.00. The analyst said, “Mobileye is the pioneer and undisputed market leader for computer vision/advanced driver assistance systems (ADAS) in the automotive industry. A combination of fast-paced ADAS adoption, deeper penetration of a $40B TAM, and rebound in auto production as supply chain constraints dissipate provide the foundation for ~40% sales CAGR from 2022-26.”
3. Tesla (NASDAQ:TSLA) was upgraded by Citi to Neutral from Sell with a price target of $176 (from $141.33). The analyst believes the valuation is more justified now after the recent pullback in Tesla stock that has created a more balanced risk/reward in the near term.
4. Yum! Brands (NYSE:YUM) was upgraded by Argus to Buy from Hold with a price target of $142. The analyst said, “We expect consumers to opt for the company’s relatively inexpensive menu items and look for it to grow at a solid pace. We also expect YUM! Brands to benefit from an eventual reopening of the Chinese economy and an acceleration in restaurant openings.”
5. Vale SA (NYSE:VALE) was upgraded by Deutsche Bank to Buy from Hold with a price target of $20 (from $19). The analyst said, Vale is a “cash cow with option value,” adding, “Unlike major peers, Vale is positioned to steadily increase iron ore and base metal volumes over the next three years at low capex intensity, keeping investment levels contained and cash flows strong.”
6. Activision Blizzard (NASDAQ:ATVI) was upgraded by Baird to Outperform from Neutral with a price target of $95. The analyst said, “We are increasing our ‘standalone’ valuation of Activision Blizzard to $78, although we continue to expect the acquisition by Microsoft (NASDAQ:MSFT) to close next year ($95 deal price). We note positive momentum from Call of Duty: MW2 combined with other key product launches (Warzone 2.0, WoW expansion, Diablo IV, next COD) should provide improving visibility for out-year earnings targets, and possibly offer some recession-resiliency.”
7. Intuit (NASDAQ:INTU) was initiated by Credit Suisse at Outperform with a price target of $500.
