Wednesday’s analyst calls featured multiple upgrades including Bernstein raising e.l.f. Beauty to outperform and Raymond James initiating Civeo as strong buy. Bank of America reiterated SpaceX as buy following the company’s first public earnings report. Melius reiterated Nvidia as buy noting SpaceX’s decision to exclusively use Nvidia compute. Bank of America reiterated Arista Networks as buy following strong 2Q results showing 38% revenue growth. TD Cowen upgraded Waters and initiated Ceco Environment as buy, while Goldman Sachs reiterated Pinterest as buy. On the downgrade side, Citi downgraded Burlington to neutral and Jefferies downgraded Best Buy to hold.
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