Jefferies kept Apple at underperform ahead of earnings, expecting fourth-quarter revenue and EPS to beat consensus by 4% and 5%, respectively, but anticipates a December miss due to weaker iPhone 18 Pro and Pro Max demand and rising memory prices. Several ratings were upgraded, including CACI to buy, Lockheed Martin and Tesla to overweight, Booz Allen Hamilton and Ross Stores to buy, and NorthWestern Energy and LKQ to overweight. Goldman Sachs, Bank of America, BMO, Guggenheim, StoneX and Monness Crespi Hardt also initiated buy ratings on Installed Building Products, Accelevation, FirstEnergy, Nutanix, Coherent, Lumentum and SoFi. Bernstein raised its SpaceX target to $268 from $248, Piper Sandler reiterated Nvidia at overweight, Morgan Stanley downgraded Block to equal weight, and JPMorgan added Dollar General to its focus list while forecasting third-quarter operating margin of 4.3%.
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