Here are the biggest calls on Wall Street Monday: Jefferies reiterates Nvidia after buy Jefferies raised its price target on Nvidia to $150 a share from $135. “NVDA remains the king and maker – for example, we still see growth for MRVL and ALAB alongside NVDA, but NVDA’s decisions for each generation could change that materially.” Citi reiterates Micron as top pick Citi raised its price target on the stock to $175 a share from $150 before earnings on Wednesday. “Our Top Pick Micron will report Q3Q24 results on June 26 after the market close, and we expect the company to post Consensus results and guidance given Micron’s DRAM growth and growing AI memory exposure. ” Citi upgrades Carrier to buy from neutral Citi said transformation is underway for the heating and cooling company. “Ultimately, CARR remains a work in progress and we don’t expect ‘straightforward’ improvement, but the company is well run with leading shares in one of our favorite end markets and we see room for further improvement.” UBS upgrades Anheuser-Busch InBev to buy from neutral UBS said the beverage giant is at an inflection point. “Over the next 12 million, ABI is on the cusp of delivering the ideal growth profile of consumer staples that it has not consistently achieved since pre-2008.” Goldman Sachs launches IBM as acquisition Goldman said IBM’s transformation is underway and that the company is well positioned for the long term. “We believe IBM is on a path to successfully complete its pivot to long-term growth, driven by an improved mix of infrastructure software assets focused on open source and AI offerings aimed at driving business transformation of enterprises”. Goldman Sachs Upgrades Affirm to Buy from Neutral Following a change in analysts’ coverage, the firm upgraded the financial company to buy. “We see AFRM as the leading provider of modern credit solutions for consumers, with a diverse portfolio of products for point-of-sale financing and everyday expenses.” Bank of America reiterates Broadcom as it buys Bank of America said the company has best-in-class attributes. “Reiterate Buy on top pick, raise PO to $2,150 from $2,000 on AVGO’s transformation into a growth from a value stock, driven by increased contributions from AI and VMWare.” Morgan Stanley launches Ryder System as overweight Morgan Stanley said transformation is underway for the shipping company. “Ryder hasn’t gotten much credit for his transformation yet, but we may not have to wait much longer, especially with the growth cycle.” Morgan Stanley names UnitedHealth a top pick Morgan Stanley said the health care company is compelling. “On that note, we are adjusting our top pick to UNH (from CI), where relative share price performance presents an opportunity in our view.” Morgan Stanley Starts Elevance Health as Overweight Morgan Stanley highlighted Elevance Health’s earnings strength as it initiated coverage of the stock. ” ELV’s Managed Care Platform should leverage diverse revenue drivers across multiple health benefit verticals, pharmacy and provider solutions, supporting consistent +DD [double digit] earnings growth.” Bernstein Initiates Better Performance Cheniere Energy Bernstein said the energy company has a “bay-sized gap”. the largest exporter of US gas and one of the largest exporters of gas on Earth.” Citi initiates Ally Financial while buy Citi said the bank’s holding company is well positioned. “We are initiating ALLY with a Buy rating and a TP of $50. Our central case is for a soft put, and we believe that ALLY is the best way to play it within our universe because of the asset’s repricing potential with fixed rate combined with a liability-sensitive balance.” UBS reiterates Tesla as neutral UBS says it’s lowering expectations Ahead of company’s shipment figures in a few weeks “We forecast Tesla’s 2Q20 shipments to be -10% y/y but +9% q/ q,” said TD Cowen The fitness company has a “compelling catalyst path.” PLNT is an early turnaround play with a compelling catalyst and upside path to valuation.” Barclays Upgrades Synovus to Overweight from Equal Weight Barclays said it is bullish on the financial services company’s stock. “We upgrade SNV to Overweight from Equal Weight , as we believe The work started last June to strengthen capital and earnings is largely complete.” Melius reiterates Apple after buying Melius raised its price target for Apple to $260 per share from $227. “We think investors will continue to embrace this earnings visibility through at least 2026.” Bank of America reiterates Amazon as buy Bank of America said it is sticking to its buy rating on Amazon after a report said the e-commerce giant could charge a fee for Alexa. “Amazon is working to replace its current voice assistant with a two-tiered, artificial intelligence-powered ‘Alexa’ by August.” Citi launches Zeekr said it is bullish on shares of the Chinese auto company. ” Zeekr is positioned in the premium smart BEV [battery electric vehicle] market and differentiates itself with strong technology expertise, in-house R&D capabilities and exceptional user experience.” Jefferies reiterates Eli Lilly as Jefferies buy raises stock price target to $1,015 per share from $994. LLY for several reasons : 1) LLY has an attractive growth profile in a recessionary environment; 2) we are bullish on GLP1 and see it as one of the greatest drug classes of all time.” JPMorgan reiterates Royal Caribbean after overweight JPMorgan raised its price target on the stock to $175 per share from $173. “Based on our recent field work and mgmt access – we see RCL as better positioned for accelerating market share gains and continued beat/growth opportunities given the enhanced product/destination offering and differentiated.”
Monday’s top analyst calls on Wall Street like Nvidia