Analysts on Tuesday highlighted significant growth potential for Eli Lilly, Vista Energy, and AMD.

This is CNBC Pro’s live coverage of Tuesday’s analyst calls and Wall Street discussions. Refresh every 20-30 minutes for the latest updates.

On Tuesday, analysts spotlighted a leading pharmaceutical company and a semiconductor manufacturer as promising investment opportunities. Despite a significant rise in its stock this year, Wells Fargo remains optimistic about Eli Lilly’s growth potential, driven by ongoing drug trials. Additionally, Wells Fargo initiated coverage of AMD, citing robust demand for data centers as a positive factor. JPMorgan also highlighted Vista Energy’s value, noting its advantageous operations in South America.

Here are the latest analyst calls and market chatter, with all times in ET:

7:24 a.m.: Benchmark reaffirms DraftKings as a top pick, viewing recent underperformance as a buying opportunity
DraftKings’ stock has dipped about 2% in 2024, but Benchmark sees this as a chance to buy. The firm reiterated its buy rating and set a $44 per share price target, suggesting a nearly 28% upside from Monday’s $34.41 close. Analyst Mike Hickey pointed to improved market win margins, new user growth, tax strategies, and valuation contraction ahead of the NFL season as reasons for optimism. Hickey believes DraftKings deserves a premium for its market leadership in North America’s online gambling sector.

7:08 a.m.: Bank of America resumes coverage of TKO Group, emphasizing its dominance in sports rights
Bank of America attributes a projected 45% rise in TKO Group’s stock in 2024 to the solidifying market for sports rights. The firm resumed coverage with a buy rating and a $140 per share price target, indicating about 19% upside. Analyst Brent Navon noted that the recent NBA media rights renewal highlights the strength of the sports rights market, despite the decline of linear TV. Navon believes premium IP companies like TKO warrant a premium valuation due to their scarcity value.

6:42 a.m.: JPMorgan initiates coverage of Vista Energy with an overweight rating
JPMorgan sees Vista Energy’s strong position in the South American Vaca Muerta basin as a unique advantage. The firm initiated coverage with an overweight rating and a $68 per share price target, implying more than 38% upside from Monday’s $49.10 close. Analyst Rodolfo Angele praised the company’s founder-led structure and its investment in infrastructure as key growth drivers. Angele expects Vista’s production and EBITDA to grow at a CAGR of 30% from 2023 to 2026, with potential for upward revisions if additional drilling rigs and frac sets are acquired.

6:13 a.m.: Wells Fargo names Eli Lilly a top pick
Wells Fargo sees Eli Lilly’s growth driven by improved supply and key drug trials. The firm listed Eli Lilly as a top pick within its biotechnology coverage, maintaining an overweight rating and a $1,000 per share price target, suggesting more than 8% upside from Monday’s $921.81 close. Analyst Mohit Bansal highlighted upcoming catalysts like the Surpass-CVOT trial and pivotal readouts for Orforglipron/Retatrutide in 2025/26. Bansal believes Eli Lilly’s manufacturing capabilities and extensive data will create a significant competitive moat.

6:09 a.m.: Edward Jones initiates coverage of AMD with a buy rating, forecasting above-average growth
Edward Jones sees no signs of slowing data center demand, which could boost AMD’s growth. The firm initiated coverage with a buy rating, noting that AMD’s acquisition of Xilinx will help expand its chip offerings and enter new markets. Analyst Logan Purk mentioned that AI-enabled PCs could drive a longer upgrade cycle, supporting higher growth in the PC market. Purk believes this optimism is not yet fully reflected in AMD’s share price.