Here are Thursday's biggest analyst calls: Apple, Tesla, Target, Goldman Sachs, Meta, FedEx & more

Bernstein said Tesla shares are inactive overvalued.

"2023 has served arsenic a reminder of however hard TSLA is to telephone successful the abbreviated term; however, we judge that successful the agelong term, valuation matters, and the banal is trading supra our just worth terms of $150/share."

Barclays said the edifice concatenation has underappreciated "growth prospects."

"We displacement our penchant to HLT for its underappreciated nett portion maturation prospects amidst a slowing macro backdrop."

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Jefferies said it sees "downside to statement from slowing apical enactment and moderating borderline expansion."

"Buyers are churning faster and spending little connected ETSY, forcing selling higher and putting unit connected EBITDA."

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Atlantic Equities says Spotify has "best-in-class" euphony streaming.

"Spotify's euphony concern remains taxable to a two-thirds payaway to the euphony labels and 1 cardinal mode to amended margins is to beforehand artists not signed to labels."

Morgan Stanley says Tesla's cybertruck is simply a "side-show" close now.

"A batch has changed since Franz von Holzhausen threw a metallic shot astatine the 'Armor Glass' model of the Cybertruck successful November 2019. The motortruck is existent and we had a large clip with it past week down the Austin plant. But financially it whitethorn beryllium much of a 'side-show' to the Tesla communicative today."

UBS calls the petroleum institution a "cash machine."

"We initiate with a Buy standing and people terms of $165/shr. In the past 2 years, MPC has paid retired $19.3Bn to shareholders (supported by Speedway merchantability proceeds) – the highest amongst autarkic refiners."

UBS calls Phillips 66 a "diversified refiner with increasing midstream footprint."

"Cash instrumentality to shareholders is competitory and we spot PSX returning ~$18.8Bn to shareholders betwixt 2023E and 2026E."

Jefferies said it sees "significant upside potential" up for Target.

"Based connected company-provided guidance, TGT has the astir borderline recapture imaginable successful 2023 among the Value Retail names we cover."

Bernstein said it sees the large container retailer arsenic a "reliable deliverer" of growth.

"Costco, which we inactive spot arsenic a perennially reliable deliverer of low-teens EPS growth.

Bank of America said it sees a "compelling borderline recovery" communicative for shares of the nutrient distributor.

"While borderline betterment for SYY has been prolonged, we spot a compelling trajectory for EBIT borderline enlargement successful F2H and beyond arsenic SYY focuses connected improving productivity and proviso concatenation efficiency."

Bank of America said the concern slope is "best-in-class."

"We reiterate Buy arsenic we judge GS is 1 of the champion fiscal franchises globally astatine comparatively discounted valuations with shares trading astatine 1.15x P/Book and 9x 2024 P/E."

Bank of America said the semiconductor institution has "strong AI potential."

"Taiwan Semiconductor Manufacturing Co. is simply a cardinal beneficiary and among our 20 planetary AI banal picks owing to the rising and widening applications of ample connection models (LLMs) and generative AI, led by ChatGPT."

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Evercore said concerns astir slowing iPhone maturation are overdone.

"We deliberation contrary to capitalist concerns, AAPL is well-positioned to turn iPhone units successful CY23 and beyond driven by aggregate tailwinds."

Wells said the commercialized slope is the "last antheral standing" astatine the crypto bar.

"The crypto scenery for banks conscionable got lonelier with SI winding down operations. While SBNY has self-imposed limits connected crypto deposits, they whitethorn get a spot of pricing powerfulness with the exit. We similar SBNY for its diversification and sub-TBV valuation."

Evercore named Meta a apical pick, noting it inactive likes the company's concern model.

"META is intelligibly moving to trim a outgo operation that arguably became bloated station Covid. Our checks suggest improved advertisement attribution is helping to retrieve much advertisement $'s, and Reels is good connected its mode to closing its monetization gap."

Oppenheimer said it's lasting by its outperform standing connected Meta.

"We are expanding our people to $235 (was $220) connected higher advertizing estimates arsenic AI investments are opening to thrust improved targeting."

Goldman said the shipping elephantine is good positioned heading into net adjacent week.

"While determination remains adjacent word hazard we proceed to judge that should the system so statesman a bottoming process implicit 1H2023, FDX is good positioned to instrumentality eventual measurement maturation and thrust it implicit their comparatively precocious fixed outgo Express web to amended borderline arsenic it has done successful anterior cycles."

Mizuho lowered its terms people connected the electrical conveyance company, but said it's lasting by shares of Rivian.

"Maintain Buy, little estimates/PT to $35 (prior $37) with higher involvement disbursal and imaginable dilution."

The steadfast said it sees an charismatic introduction constituent for shares of the pharmaceutical company.

"Overall, we spot the LLY communicative arsenic precise overmuch connected way and LLY remains 1 of our favourite names successful the group."