Here are the biggest inquiries on Wednesday on Wall Street: BTIG updates Nikola to buy from neutral BTIG said the electric vehicle truck company is well positioned to benefit from truck decarbonisation. “We upgrade NKLA to Buy because we believe NKLA is well positioned to benefit from the growing demand to decarbonise the Class 8 truck market.” Loop Downgrade Match to hold from buy Loop said in its online dating company downgrade that it is concerned about missed future earnings per share. “We are downgrading our Match Group valuation from Buy to Hold and lowering our price target from $ 70 to $ 60. The second quarter was missing from a revenue and earnings standpoint and we see the potential for further mistakes in the 2023 “. Morgan Stanley downgrades Motorola Solutions by weight to overweight Morgan Stanley downgraded the telecom company primarily based on valuation. “The recent re-rating of the MSI closes the valuation opportunity faster than we expected. Our confidence in growth and defensibility is stronger as we exit the second quarter, but the market premium of around 20% seems to be increasing in a gradual upward pressure on estimates and defensive preference “. JPMorgan reiterates Netflix as neutral JPMorgan said investor sentiment is “catching on” towards launching the streaming giant’s ad-based service. “NFLX shares have risen 8% since reporting Q2 earnings and our discussions suggest that investor sentiment and interest, while still mixed, is picking up towards the launch of the subscription level supported by the advertising, probably in the 4th quarter “. Berenberg updates Merck to buy from the clearance sale Berenberg said in his biopharmaceutical company update he sees numerous positive catalysts. “For investors looking for a low-risk value option in the pharmaceutical sector, we believe Merck & Co offers many attractions: medium-term growth just above the industry average, limited patent expiry burden, low exposure to reform. of prices in the United States, expansion of margins and no protrusion of litigation “. Read more about this call here. JPMorgan Reiterates Coinbase As Neutral JPMorgan said the cryptocurrency firm could benefit from higher interest rates. “We estimate that Coinbase has a substantial earning opportunity that comes from higher interest rates, based on a 1-month Treasury yield reaching approximately 3.75% by the year 2022.” KeyBanc starts Walmart and Target as overweight KeyBanc said in its big-box retailer opening that their competitive positioning has never been better. “Walmart and Target are two of the most prominent and dominant retailers in America. While investors may find better growth potential in smaller companies, we believe both Walmart and Target are in the best competitive position of the last decade given the catalyst for e-commerce pandemic is becoming significantly more important. ” Read more about this call here. Canaccord reiterates Tesla as the Canaccord purchase said Tesla is well positioned to address supply chain challenges and protect battery materials. “In recent years, Tesla has worked to secure the supply of battery materials through direct partnerships with lithium, cobalt and nickel manufacturers. As a result, Tesla has been able to address the global mobile supply chain crisis better than its own. competitors. ” Loop starts Masimo as a buy Loop said the medical technology monitoring company has strong cash flow. “MASI is a market leader in oximetry measurement with an expanding variety of non-invasive monitoring solutions ranging from measuring vital and non-vital body signs to hospital automation and connectivity platforms, which continues to grow steadily to single high / double low digits on a steady currency basis and strong cash flow. ” Raymond James Updates PayPal to Outperform Market Performance Raymond James said he is becoming increasingly confident in PayPal’s stock. “Put simply, after several difficult consecutive quarters of significant negative estimate revisions (EPS FY22 down 33% from a year ago, stocks down 66% from S&P 500 -7%), we now have a greater confidence that forward estimates have hit rock bottom and the depressed multiple of the PYPL is expected to increase as estimates increase. ” Cowen Starts Mondelez as Best Cowen said the food and snack company has consumer benefits. “We are constructive on Mondelez amid the current valuation disconnect. Our analysis shows that the company has beneficial consumer (emerging markets) and category (snacking) exposure, as well as relatively low private label penetration.” . Bernstein downgrades CSX and Union Pacific to outperform market performance Bernstein said his call is not about a potential strike, but that it is simply too difficult to buy the shares at current levels. “Railways are large corporations and offer a low-risk way to participate in the cyclical rally that will no doubt follow a pivot fed, but we find it hard to sustain the opportunity to increase US rail exposure here and downgrade CSX and UNP to Market Perform. “Barclays reiterates Starbucks as overweight Barclays said after the company’s investor day that he sees a” new era “of inordinate growth for Starbucks. “We are buyers here. Importantly, global business has so far been” immune “to the broader slowdown in business in the industry.” Bank of America reiterates BlackRock as the Bank of America purchase said it saw the investment manager emerge from a stronger bear market. “We expect BLK stock to outperform as the company continues to gain profitable market share through its centuries-old growth businesses where it has a leading franchise and / or early mover benefits.” Morgan Stanley reiterates Apple is overweight Morgan Stanley said iPhone 14 delivery times show Apple’s iPhone cycle “is starting stronger than expected.” “The early delivery times of the iPhone 14 show that this cycle is starting stronger than expected, with the delivery times of the iPhone 14 Pro Max the longest of any model in the past six years at this point in the cycle.” Bank of America updates SoFi to buy from neutral bank Bank of America said in its online personal finance firm update that it sees “favorable” risk / reward. “We see the potential for a significant catalyst path in the coming quarters as SoFi benefits from the end of the student loan moratorium and its high profile NFL-aligned marketing investments drive user engagement and growth.” Read more about this call here. Evercore ISI downgrades Block to underperform versus outperform Evercore ISI said in its payment company double downgrade it sees headwinds to growth. “We are downgrading SQ to Underperform from Outperform, given potential headwinds to its Seller and BNPL (Afterpay) businesses driven by increased competition, credit tightening and an expected slowdown in macroeconomic growth, putting our companies under negative pressure. estimates on gross profit and EBITDA for 2023 “. Bank of America replenishes Coty as the Bank of America purchase has taken back coverage of the beauty company and said it is a “turning point”. “We are restoring Coty’s coverage with a Buy rating and a price target of $ 12 (nearly 50% upside), reflecting a sum-of-parts (SOTP) valuation with 16 times our CY24e EBITDA for the Prestige segment and 10 times our CY24e EBITDA for Consumer Beauty “.