(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.) Broadcom and a Chinese electric vehicle maker were among the stocks being talked by analysts about on Tuesday. Bernstein named Broadcom a best idea, saying the chipmaker could jump more than 20%. Bank of America and Goldman Sachs, meanwhile, initiated Zeekr with buy rating, calling for strong gains ahead for the Chinese EV maker. Check out the latest calls and chatter below. All times ET. 5:55 a.m.: Oppenheimer initiates Flutter Entertainment at outperform Flutter Entertainment could be big winner ahead, according to Oppenheimer. The financial firm initiated shares of the sports betting and gambling company at an outperform rating, also setting a $240 price target. Shares of Flutter have added nearly 6% this year, with analyst Jed Kelly’s price target implying that the stock could soar another 27%. As a catalyst, the analyst pointed to the company’s structural advantages, while give Flutter a massive edge in growing within the domestic market. Eventually, Kelly foresees a duology emerging between FanDuel — whose majority owner is Flutter — and DraftKings. “Hold advantages allow for significant promotional velocity at higher unit economics to generate a massive edge in product stickiness/customer retention,” he wrote. Meanwhile, the company also offers a top U.S. parlay mix and provides players “the most pre-built selections with seamless bet-building experience,” Kelly added. While higher taxes pose a risk to the company, the analyst believes that Flutter is positioned the best to absorb these increasing tasks. Reduced competition and more state legalization could also help lower these taxes in the future. — Lisa Kailai Han 5:47 a.m.: Wall Street analysts see bright prospects ahead for Chinese EV maker Zeekr New player Zeekr could be giving its competitors a run for their money, according to some Wall Street analysts. Goldman Sachs and Bank of America initiated the Chinese electric vehicle maker at a buy rating. Goldman analyst Tina Hou set a 12-month price target of $34, while Bank of America analyst Ming Hsun Lee set a price objective of $35. The forecasts respectively imply a potential upside of 33% and 37% from the Monday’s close. “We view ZEEKR as well placed to ride on the rise of domestic brands, premiumization, and electrification trends in China EV market,” wrote Lee at BofA. “Leveraging R & D capabilities, ZEEKR has the advantages in vehicle design, drivability, safety, smart cabin, centralized E/E architecture, e-drive system, charging experience, and user community.” While Zeekr commanded 1.3% of the China electric vehicle market in 2023, Lee expects this number to rise to 2.5% by 2026, aided by “robust model portfolios.” Both Lee and Hou noted how the brand could benefit from its ownership by Geely Automobile. The company could leverage Geely’s existing engineering strengths, manufacturing capabilities, brand equity, strong supply chain and global footprint to expand overseas. “We believe ZEEKR is in a better position to compete by adopting an asset-light manufacturing model leveraging its parent company’s (Geely) factory capacity, which helps alleviate heavy upfront capex burden,” Hou said. Zeekr could grow its profitability by launching attractive models that generate consistently strong sales volume, which would ultimately drive economies of scale and build its brand, Hou added. Zeekr went public in the U.S. last month, listing its IPO at $21. Since then, shares are up 22%. — Lisa Kailai Han 5:47 a.m.: Bernstein names Broadcom a best idea Broadcom’s gains this year are primed to expand, according to Bernstein. Analyst Stacy Rasgon named the chipmaker one of its best ideas. He has an outperform rating on shares along with a $1,600 price target, which implies upside of 21%. The stock has already been on a tear in 2024, surging nearly 19%. AVGO YTD mountain AVGO year to date Despite these gains, Rasgon thinks the company’s valuation “remains compelling, inline with history vs industry for a story that has only gotten better with age.” On top of that, it “remains among the cheapest of all the ‘AI play’ semis, with a better narrative than many peers,” the analyst said. Broadcom shares trade at about 28 times forward earnings, while AI darling Nvidia has a multiple of 42. AMD also trades at 46 times forward earnings. — Fred Imbert
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