Here are the biggest calls on Wall Street on Monday: TD Cowen reiterates buy Nvidia TD said Nvidia remains the first choice in the company. “NVIDIA is Our Team’s Top Pick, the Far-Remote Technology Leader in Artificial Intelligence.” Mizuho Repeats Advanced Micro Devices Mizuho says it’s keeping up with the stock after AI Day last week. “With AMD gaining server share, a potential PC rebound and upcoming AI product launches, we see a $19 base case…” Mizuho reiterates Broadcom’s price target of $190 per share When he raised it to $220. “AVGO OpenAI AI Chip Win Could Be Potentially >$16B Opportunity in 2H25-26E.” Goldman Sachs upgrades Ibotta Goldman Sachs reiterates Alphabet as Goldman cut its price target on the stock to $208 per share from $217 citing multiple headwinds against Alphabet. “In terms of the current operating environment, we see a strong/stable environment for direct response advertising, albeit weaker than the industry, with the brand advertising environment and continued media consumption gains for short/long form video content with short form monetization gains. video, while slowing, It acts as a tailwind over the next 12-18 months.” Wells Fargo Raises Flutter from Equal Weight to Overweight Wells says investors should buy the gaming company’s share dip. “We’re upgrading to FLUT OW because our new $295 PT represents a 34% upside.” Truist drops Amgen to hold buy Truist said he sees increasing competition for the biotech company amid Amgen’s decline. “… Pipeline competition mutes upside potential. Downgrade to hold, PT $333.” Morgan Stanley downgrades Caterpillar from equal weight Morgan Stanley said it sees “discussion risks” in the company’s construction sector. “CAT downgrade to underweight amid rising pressures on potential destocking in CI (construction industry)”. UBS Launches Surgery Partners UBS says the ambulatory surgery company has “attractive organic growth.” “We initiate coverage of Surgical Partners with a Buy rating and a price target of $38.” Piper Sandler reiterates Tesla Piper says it maintains an overweight rating ahead of Tesla’s 10/23 earnings. “We had hoped that the introduction of the robot taxi would give an excuse to improve the estimates, and the optimism is disappearing in this respect, but on the other hand, there is no need for a reduction in the estimates, because we always assumed full income. -Driving (FSD) software would not start 2027 / until 2028.” UBS launches Netstreit buy UBS says the real estate investment firm’s shares are undervalued. “We recommend buying NTST as we expect accelerated external growth at an overvalued discount.” Goldman Sachs has downgraded AutoZone from buy to sell. Goldman downgrades auto parts retailer due to “muted growth.” “We have downgraded AZO to Sell from Buy as we reposition our stock valuation distribution to favor companies with exposure to discretionary assets.” Evercore ISI adds Apple to tactical performance list. Evercore says it is on course to turn a profit later this month. “Sentiment toward Apple has turned more bearish in recent weeks, and we believe that buying expectations will be lower than today’s consensus estimates. Against this backdrop, we expect Apple to deliver results in line with current estimates, which should allow the stock to perform higher. ” JMP downgrades Duolingo from market perform to market outperform JMP has downgraded language app company primarily in valuation. “We are downgrading Duolingo from Market Outperform to Market Perform after the stock has rallied 78% since reporting 2Q24 earnings, is more than 5% above our previous price target and now has 2026 and 2027 ‘Blue Sky’ EBITDA of 27 and We trade at 19 times, respectively.” Baird downgrades KeyCorp to neutral Baird says risk/reward is more balanced for the regional bank. “KEY – Lower to Neutral, more balanced risk/reward here after SPX’s outstanding performance since March 2023 update.” Jefferies upgrades AptarGroup to maintain buy. Jefferies says it’s bullish on the pharmaceutical company’s stock. “Given strong execution, ATR is up about 30% YTD, but with a strong pipeline of new products such as GLP-1 drug delivery systems, OTC (over-the-counter) Narcan and Neffy (epinephrine nasal spray), we . believes the pharma segment will bring an overall EBITDA CAGR of 8.5% through 2026.” Piper Sandler Upgrades SentinelOne to Overweight Piper said he sees a number of positive catalysts for the cyber company. “We are upgrading shares of S as we see multiple catalysts to push the stock through the end of the year…” Wells Fargo Downgrades VF Corp to Underweight from Equal Weight Wells downgraded VF Corp. The owner of brands such as Vans said in a rating has one that’s full right now. “Go down to UW and drop PT to $15. Stocks have been running and valuations seem to be on a much higher rise than is realistic. Wells Fargo Downgrades to Canada Goose from Equal Weight Wells Says Too Many China Macro Concerns sees them for the outdoor apparel company.”GOOS has made China the centerpiece of its DTC expansion plan (it currently accounts for 40% of stores and 30% of sales), and has been impacted by the volatile macros throughout the year.” AppLovin’s acquisition is neutral The firm says it sees a more balanced risk/reward for the software publisher “At its current share price of $143, we see a more balanced risk/reward for the stock today. Since being added to the Buy List on 04/19/2022, APP shares are up 192% compared to SPX +30%.” Goldman Sachs Upgrades Ibotta to Buy from Neutral Goldman said it likes the mobile tech company’s growth prospects. “For IBTA, the risk/ we see an attractive premium because current valuation levels underestimate IBTA’s growth potential around escalating 3P (third-party) bailouts (Walmart, Instacart, etc.) pick Company says “bull run still has legs” for Walmart “Based on our work, we reiterate our Outperform rating and are raising our PT to $90.”
