Wall Street Calls: UBS Upgrades Amkor, Baird Lifts Apple Target, HSBC Starts SpaceX at Hold

According to CNBC, UBS upgraded Amkor Technology to buy from neutral, saying the company's US$1.5 billion NVIDIA strategic partnership supports Amkor's ongoing ramp of Vera CPU. Baird reiterated Apple as outperform and raised its price target to $330 per share from $310. HSBC initiated SpaceX at hold, citing valuation, while Raymond James upgraded Teck Resources to outperform from market perform on expectations for accelerating growth. UBS also reiterated Advanced Micro Devices as buy and lifted its price target to $730 from $700 after the company's AI Day, and Bank of America reiterated Intel as buy following earnings, saying data center sales rose 59% year over year. Elsewhere, Morgan Stanley reiterated Nvidia as overweight on the Amkor deal, BMO upgraded Dover to outperform from market perform with a $240 target, and Piper Sandler lowered Tesla's price target to $450 from $500 after Q2 results and the 10-Q.