(This is CNBC Pro’s live coverage of Tuesday’s analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) A chipmaker and an e-commerce giant were among the stocks being talked about by analysts on Tuesday. Citi lowered its price target on Micron Technology ahead of earnings. Meanwhile, Redburn Atlantic upgraded Shopify to buy. Check out the latest calls and chatter below. All times ET. 7:56 a.m.: Bank of America upgrades Hewlett Packard Enterprise to buy Numerous catalysts ahead make shares of Hewlett-Packard Enterprise look especially compelling, according to Bank of America. The bank upgraded shares of the information technology firm to buy from neutral, lifting its price objective to $24 from $21. The updated forecast implies that shares of Hewlett Packard could rise 39% from Monday’s close. Shares of Hewlett Packard are 1% higher on the year. Analyst Wamsi Mohan pointed out that the stock’s valuation is now “compelling.” Mohan highlighted that new CFO Marie Myers, who comes with a proven industry track record, could significantly help reduce costs. A cyclical recovery across servers, storage and networking alongside a margin recovery in high performance compute could additionally prop shares up. Moreover, Hewlett Packard could also be a major artificial intelligence beneficiary. “With decades of expertise in liquid cooling (CRAY systems) and increased adoption of supercomputing, HPE will be able to command a key position in AI adoption at Enterprise and Sovereign,” Mohan wrote. Another major catalyst comes in the form of Hewlett-Packard’s acquisition of Juniper for $14 billion, which could continue to help drive cost reduction. — Lisa Kailai Han 7:45 a.m.: Bernstein cuts Airbnb’s price target Consensus for Airbnb’s third quarter is creating an entry point for investors, according to Bernstein. While the firm is remaining bullish on the stock, maintaining its outperform rating, it still cut its price target to $155 from $174 — which implies nearly 32% upside from Monday’s close. “We admit we did have some over optimism on Airbnb: while we continue to see a structural opportunity for ABNB as lodging demand outpaces hotel supply, we underestimated the cost of tapping this opportunity as it needs to be delivered in new markets,” analyst Richard Clarke wrote in a note to clients. However, he still believes it’s still too early to project third-quarter earnings, saying that “tough” comps are affecting peers as well and that growth initiatives have not yet taken effect. With this, he added that it’s “inconsistent” for consensus to view the quarter as a trend “with no acceleration” rather than a blip. “Although always a fan of the LT opportunity at ABNB, this pessimism is now creating a ST entry point with estimates and valuation de-risked.” This year, shares have fallen more than 13%. — Sean Conlon 7:23 a.m.: Bank of America upgrades Carvana Bank of America thinks Carvana can sustain long-term growth as the used car market normalizes and supply is replenished. The firm upgraded the used car seller to buy a buy rating from neutral. Its price target of $185 implies more than 20% upside. BofA had dropped its coverage of the stock before the rating change. “With efficiency gains and a relatively large fixed-cost base vs. Internet, we expect CVNA can maintain recent improvement in unit economics & leverage as growth accelerates,” analyst Michael McGovern said. “Used Car sales are still well below pre-COVID levels, & we expect further recovery as rates fall.” “We think the leading seller of used cars Online is well positioned for sustained long-term growth, in a fragmented $800bn+ market that is recovering as prices normalize, car supply returns, and rates begin to fall,” the analyst added. Carvana has surged nearly 189% in 2024. CVNA YTD mountain CVNA year to date — Brian Evans 7:03 a.m.: Jefferies downgrades SolarEdge Jefferies is moving to the sidelines on SolarEdge on rising competition domestically and high inventory levels abroad. “Given significant headwinds in Europe from persistently high inventory levels and Chinese competition, as well as stiff competition in US, we see more downside to the stock as estimates are revised lower,” analyst Dushyant Ailani said. The analyst downgraded the solar photovoltaic system stock to underperform from hold and lowered its price target to $17 per share from $27. That implies about 22% downside from Monday’s close. “We view SolarEdge as distinctly positioned in the inverter business with its proprietary optimized inverter-based solar systems for residential and commercial segments,” the analyst added. “However, we see risk to near-term revenue and margins on high inventory levels, slower growth prospects in European markets, and limited expansion for margins given muted demand trends.” SolarEdge stock has dipped 77% in 2024. SEDG YTD mountain SEDG year to date — Brian Evans 6:52 a.m.: Jefferies upgrades BioNTech Jefferies is growing bullish on BioNTech thanks to the company’s BNT327 therapy for patients will small cell lung cancer. The firm upgraded the biotechnology stock to buy from hold and raised its price target to $150 per share from $95. Jefferies’ forecast implies more than 21% upside from Monday’s close. BioNTech has added 17% in 2024. “We’re upgrading BNTX on increased conviction on BNT327 … which could be the asset that makes its ADC [antibody-drug conjugate] combo strategy ‘work,'” analyst Akash Tewari said. “As a result, we’re modeling risk-adjusted peak sales of €3.6Bn for BNT327.” — Brian Evans 6:24 a.m.: Mizuho initiates Dell with outperform rating Mizuho Securities thinks the rise of generative artificial intelligence can benefit Dell . The firm initiated coverage of the personal computing and technology stock with an outperform rating and a $135 per share price target. Mizuho’s forecast implies more than 16% upside from Monday’s close. Analyst Vijay Rakesh noted Dell’s nearly $4 billion AI server backlog as of the July quarter as a means to be optimistic on the stock moving forward as demand remains robust. “We estimate C24E DELL AI Server revenues at ~$10-11B (vs 2023E at ~ $800M and compared to SMCI at ~$20B) and ramping up significantly into 2024E,” the analyst said. “DELL is the overall global server market leader (2023 share: ~13%) with a robust supply chain, and is also gaining AI server share.” Dell stock has surged more than 50% in 2024. — Brian Evans 5:52 a.m.: Redburn Atlantic upgrades Shopify Redburn Atlantic thinks explosive growth in social e-commerce, where online shopping and social media platforms merge and allow companies to capitalize on impulse buying, can help expand Shopify’s already strong position in the industry. The firm upgraded the e-commerce stock to buy from neutral. Its $99 price target implies more than 34% upside from Monday’s close. “Shopify’s industry-leading innovation, social media integrations, user-friendly platform and unique Shop Pay button functionality make it best positioned to capitalise on this structural growth,” analyst Dominic Ball wrote. “Moreover, Shopify’s ability to continue to win market share is backed by its extensive ecosystem and platform capabilities, which has cemented it as the ecommerce provider of choice for any merchant size.” The analyst forecasts that social e-commerce can grow to $354 billion by 2028, which equates to a 42% compounded annual growth rate (CAGR) from $62 billion in 2023. Ball said this outlook is based on the U.S. social e-commerce market following in the trajectory of the segment’s growth seen in China. “Shopify holds a significant advantage in the social ecommerce space, with its breadth of direct social media integrations that are crucial for social ecommerce,” Ball added. “A standout example is YouTube, where Shopify remains the sole ecommerce platform with direct integrations.” Shopify has ticked down roughly 6% in 2024. SHOP YTD mountain SHOP year to date — Brian Evans 5:52 a.m.: Citi trims Micron price target An upcoming earnings report could limit the upside on Micron Technology shares, according to Citi. Analyst Christopher Danely lowered his price target on the chipmaker to $150 from $175. To be sure, he maintained his buy rating, and the new forecast still implies upside of 72% from Monday’s close. Micron is set to release fiscal fourth-quarter results on Sept. 25. “We expect the company to post results and guidance below Consensus driven by legacy DRAM weakness,” Danely said in a note. “While it appears there has been an inventory build in DRAM in the PC and handset end markets, we believe this should finish by the end of the year.” “More importantly, we expect Micron’s revenue and gross margins to increase for the next several quarters,” he added. Micron shares are up just 2% this year. MU YTD mountain MU year to date — Fred Imbert