(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 newly spun-off company and a dating stock were in focus as part of Tuesday’s analyst chatter. Grinder was initiated with a market outperform rating at JMP, calling for strong gains ahead. Meanwhile, RBC began coverage of GE Vernova as outperform. Check out the latest calls and chatter below. All times ET. 7:07 a.m.: Meta can gain nearly 12% from current levels, BofA predicts Meta can see more upside ahead as internet stocks see multiple expansion, per Bank of America. Analyst Justin Post upped his target price on the Facebook parent by $40 to $550. That new expectation reflects the potential for shares to climb another 11.9% over the next year. Post’s price target increase is in line with his move on the GAAP price-to-earnings multiple to 22 from 21. While he said this multiple requires a “slight premium” to historical averages, it can be warranted if the big technology company sees growth in advertising tied to artificial intelligence improvements. More broadly, he said a decreased cost of borrowing money can help the multiples of Meta and other large internet names. “Large cap stocks have had multiple expansion in 1Q 2024, and a lower interest rate environment could drive further expansion,” Post said. Meta has already jumped nearly 39% in 2024. That adds to the monster rally of more than 190% seen by the Magnificent 7 stock in the prior year. — Alex Harring 6:55 a.m.: Eli Lilly investors can keep ‘riding the GLP-1 rocket’, Citi says Weight-loss drug excitement can continue to propel Eli Lilly higher despite risks, Citi said. Analyst Andrew Baum increased his price target on the pharmaceutical stock to $895 from $675, now implying a 17.7% gain from Monday’s closing level. Baum kept his buy rating. The hike follows growth in anticipated risk-adjusted peak sales for the oral small molecule GLP-1, Baum said. He noted that the risk of drug-related hepato-toxicity is shrinking. Still, Baum said it’s important to keep an eye on competitive risks. While there are reasons to believe Eli Lilly and Novo Nordisk’s competitive advantages could be lowered, the analyst said the pair should be able to retain their dominant market positions and grow into multiples. Ultimately, he said investors can continue “riding the GLP-1 rocket.” Baum’s call comes amid another strong year for Eli Lilly shares, with the stock up more than 30% in 2024. That puts the Indianapolis-based company’s stock on track for its eighth straight winning year. — Alex Harring 6:39 a.m.: Melius moves to sidelines on Boeing Boeing has too many areas of concern, Melius Research warned. Analyst Robert Spingarn downgraded the plane maker to hold from buy and slashed his price target by $71 to $209. Spingarn’s new target reflects the potential for just 10.3% in upside over Monday’s close. “Overall, we believe Boeing is headed for, and in need of, a multi-year restructuring,” Spingarn wrote in a note to clients. “Negative newsflow is also unlikely to abate and will continue to be an overhang on the stock.” The reputational crisis following a midair panel blowout is just one issue for Boeing to deal with in the near- to medium-term, Spingarn said. Among the others: dealing with labor negotiations, finding a new CEO and de-leveraging the balance sheet. Given these challenges, he said the stock should be close to fair value compared with the firm’s 2026 estimate for free cash flow at $8.9 billion. That’s $1.1 billion below both the predictions of management and the consensus on Wall Street. Boeing has tumbled more than 27% in 2024, making it the worst performer in the Dow Jones Industrial Average. Still, the majority of analysts polled by LSEG have buy ratings on the stock. BA YTD mountain BA year to date — Alex Harring 6:20 a.m.: Citi names Coca-Cola a top idea Coca-Cola won the top-pick distinction among beverage, household and personal care stocks covered by Citi. Analyst Filippo Falorni said the soda maker was the top overall idea, replacing Clorox. He has a buy rating on Coca-Cola shares. Coca-Cola is a stock to like because of its stronger pricing power compared with peers and high exposure to emerging markets, Falorni said. The company’s appeal to a tax case could be a “clearing event” that allows investors to refocus on fundamentals, he said. As a whole, the analyst noted beverage stocks have better pricing power over the long term. He also said concerns tied to blockbuster weight loss drugs have been “largely overblown.” “At a sector level, after large HPC outperformance over the past year, we see the Beverage sector as starting to look more compelling with the valuation gap to HPC having widened,” he said, using the acronym for household and personal care stocks. Coca-Cola shares have advanced about 3% in 2024, somewhat turning a quarter after sliding more than 7% in the prior year….
Read More: All the market-moving Wall Street chatter from Tuesday