Wall Street Analyst Updates: Rivian Upgraded, Intel and Reddit Downgraded
A series of major analyst revisions on Friday highlights shifting sentiment across the technology, automotive, and consumer sectors. Jefferies upgraded Rivian (RIVN) to 'Buy' following strong Q3 order conversion rates for its R2 platform, while Rosenblatt upgraded Monolithic Power Systems (MPWR) due to significant projected revenue growth in cloud computing power circuits. Conversely, several high-profile downgrades occurred: Bank of America lowered Intel (INTC) to 'Neutral' as its turnaround appears delayed, and KeyBanc downgraded Reddit (RDDT) to 'Sector Weight' citing slowing search traffic. In the consumer space, TD Cowell downgraded Hershey (HSY) due to weakening category trends and revised growth guidance. In the semiconductor and cloud sectors, Raymond James maintained a 'Strong Buy' on Nvidia (NVDA), noting that Amazon Web Services (AWS) continues to drive demand for its systems despite internal chip development.
Tickers: $AAPL $AMZN $COIN $GEV $HON $HSY $INCY $INTC $MPWR $NVDA $RDDT $RIVN
Topics: Earnings Analysis Stock Upgrades Wall Street Sentiment