Here are the biggest calls on Wall Street Monday: Morgan Stanley reiterates Netflix after overweight Morgan Stanley raised its price target on Netflix to $780 a share from $700 before reporting results on Thursday. “We expect continued strong results from Netflix going into 2H24, raise our estimates and PT to $780.” Morgan Stanley reiterates Apple after overweight Morgan Stanley raised its price target for the iPhone maker to $273 per share from $216. The bank also said it is a new primary choice instead of Dell. “Apple is now our top choice.” Morgan Stanley cuts BP price to equal weight from overweight Morgan Stanley cut the price of the main oil due to “weak earnings”. “BP’s disappointing trading update follows several quarters of weak earnings, putting 2025 guidance at risk. We cut our rating back to equal weight.” TD Cowen reiterates Nvidia after buying TD Cowen raised its price target on the dominant maker of artificial intelligence processors to $165 a share from $140. “Overall, we see a product roadmap that shows a relentless pace of innovation across all aspects of the AI compute stack, and we reiterate Nvidia as a top pick, PT at $165.” TD Cowen reiterates Advanced Micro Devices as a buy TD Cowen raised its price target on AMD to $210 per share from $200. “Over the past 9 months, sentiment has moved (up and down) much more than fundamentals in AMD as the Datacenter upside has so far been masked by weakness in other segments.” Citi downgrades Electronic Arts to neutral from buy Citi downgraded the video game maker mainly on valuation. “Since fiscal 4Q24 results, EA stock is up ~15% on optimism surrounding College Football’s upcoming release.” BMO upgrades Teck Resources to outperform market BMO said in its upgrade of the copper and zinc mining company that it sees a cleaner investment history. “Where we see opportunities for surprise is potential M&A in the future – we’ve seen many Canadian investors speculating on Teck making future acquisitions and some US investors considering Teck as an acquisition candidate.” Baird upgrades Carrier to perform better from neutral Baird sees multiple catalysts ahead for the air conditioning company. “We are also upgrading CARR to Outperform as we see multiple catalysts that could play out over the next 12-18 months (asset sales, acquisitions, re-acceleration of housing trends) and see room for long-term multiple expansion.” JPMorgan upgrades Solid Biosciences to overweight from neutral JPMorgan said in its upgrade of Solid Biosciences that the life sciences company has a solid pipeline. “Upgrade to Overweight; Pipeline Progress Should Bridge Gap at Current Rating Detachment.” Truist Initiates Zeta Global After Buy Truist said the marketing technology company is “unique.” “We believe Zeta represents a potentially large and growing disruptive force [marketing technology] space, serving enterprises with a unique combination of data, AI-powered intelligence, marketing cloud and enablement capabilities.” Baird Initiates Rubrik to Outperform Baird is positive on the cybersecurity company’s stock. “We are We initiate with an Outperform rating and a $42 price target. Rubrik stands out as a top tier data security vendor, seamlessly integrating backup and security amid growing data and cyber threats.” Citi Downgrades Bank of New York Mellon to Neutral on Citi Acquisition , Bank of New York Mellon, after earnings and a record high close, mainly citing the rating of “Mgmt. has made great strides towards their medium-term objectives, and we see the stock fairly valued at 2.5x [tangible book value] and as a result we are downgrading our rating to Neutral.” Loop Capital Upgrades Apple to Buy from Hold Loop says Apple could be a “base camp of the AI generation” for the next few years. “We are upgrading to Buy and $300 PT as Loop Capital supply chain analyst John Donovan’s work suggests AAPL has an opportunity [over] next few years to solidify as the ‘base camp’ of choice for consumer AI generalists, just as it did for social media 15 years ago and digital content consumption 20 years ago.” Morgan Stanley Upgrades Alcon to Equal Weight from underweight Morgan Stanley upgraded the eye care company, saying “there can be no doubt that ALC has found other factors that more than offset the risk[s].” “ALC moving to equal weight as positive offsets the softer US IOL [intraocular lense] business.” Evercore ISI Initiates Tactical Underperform on Amazon. Evercore ISI said it likes the stock, but the earnings bar may be too high. “As for our AMZN Tactical Underperform call, here’s the nuance. We continue to like AMZN long with a PT of $225. But the 28% YTD share price performance is raising the bar for Q2 EPS results.” Wells Fargo reiterates Tesla underperforms Wells Fargo says Tesla’s fundamentals remain very “weak.” “We maintain UW- in our at TSLA. While stocks are up ~40% (S & P +4%) over the past month, mostly driven by razzle-dazzle headlines as most fundamentals remain weak. We raise our Q2 EPS on shipments and energy, but lower FY24E on fees and prices.” Morgan Stanley Reiterates Microsoft as Overweight Morgan Stanley said it has “increased clarity” on AI monetization. “Results of Our CIO survey shows Microsoft’s top gainer position in GenAI, but investor debate over the scale of capital investment versus the size and timing of GenAI’s revenue opportunity has grown.” Susquehanna downgrades Caesars to negative from neutral Susquehanna says that the effect of “underinvestment” is now evident in Caesars stock. “We have downgraded our CZR rating to Negative, given our view that it has ‘over-produced’ its holdings over the past three years, leading to a set of lower competitive assets in [Las Vegas] (vs. MGM) and regionally (vs. PENN) without any relevant digital prospects to offset.” Bank of America reiterates Amazon as I buy Bank of America said it is heading into Prime Day on Tuesday for Amazon. “We estimate that Prime Day could generate $13 billion [gross merchandise value].” Evercore ISI launches Datadog with better performance than Evercore ISI said is Bulgarian for cloud-scale application company. “After treading water for two years, we believe that DDOG has matured to a point (and grown in its assessment) so that it could become a more stable Component over the next 12-24 months.” Citi Calls KLA Corporation a Top Pick Citi raised its price target for the semiconductor device maker to $980 from $760. -WFE’s expense exposure, which is expected to increase to the mid-high teens in 2025, and management’s confidence in the 2026 target model.” Morgan Stanley Cuts Rocket Lab to Equal Weight from Overweight Morgan Stanley said it sees “limited catalyst path” for the space company “We downgrade Rocket Lab ( RKLB ) to EW from OW and lower our PT to $6 from $8 as we see a more limited catalyst path and become more cautious. [Department of Defense] Space costs.”
Monday’s Wall Street analyst calls include Apple and Nvidia