As the US central bank (Fed) leaves the market full of uncertainty with its decisions regarding interest rates, the largest Wall Street banks indicate what they expect from the stock market this Wednesday.
Deutsche Bank downgrades McDonald’s
Until then, Deutsche Bank saw the fast-food giant (MCD) as a good buying opportunity, however, after the release of the balance sheet made yesterday (26), the bank observes a limited upside potential for the company.
Morgan Stanley reiterates Microsoft and General Electric
Morgan Stanley said the Microsoft (MSFT) has “strong value proposition and solid secular positioning” following the company’s earnings report released on Tuesday.
The bank is also getting more positive about the General Electric (GE)expecting little change for 2023 beyond the “multi-year growth cycle in the market, and a medium-term improvement in industry growth and profitability as supply chains improve.”
Credit Suisse reiterates position at Peloton
According to the bank, there are signs of a turnaround for the Peloton (PTON), but that investors need to be patient as “the changes in management and the CEO’s comments signal a desire to explore new avenues for growth.” Credit Suisse believes the shares will demonstrate the expected performance.
Cowen reiterates Uber and Lyft
The bank expects to see “gross growth in reserves” when at the same time Uber (UBER) report its earnings in early August.
In addition, Cowen said he also sees significant revenue growth for the Lyft (LYFT) which will report its earnings in early August.
Barclays reiterates Alphabet
According to the bank, the shares of Alphabet (GOOGL) still offer the “best long-term risk-return in technology.” Barclays further states that “the coming quarters could be tough for all digital advertising, but moving away from this print consensus, the numbers are likely to come close to what was expected.”
UBS reiterates Chipotle
The financial services group said it had confidence in the resilience of the Chipotle (CMG) after the company’s solid earnings report, highlighting “better-than-expected guidance for the third quarter, with confidence in pricing power, early brand resilience, and strong value positioning.”
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