Here are Monday's biggest analyst calls: Nvidia, Tesla, Amazon, Take-Two, BJ's, Dell, Disney, Broadcom, Apple & more
Here are the biggest calls on Wall Street on Monday: Morgan Stanley reiterates Amazon as a top pick Morgan Stanley raised its price target on the stock to $215 per share from $200. "New 'cost to serve' model highlights material upside to retail profit and gives us increased confidence in AMZN's ability to deliver $100bn+ of '26 EBIT and $10-11 of '26 FCF/share." Jefferies initiates Norfolk Southern as buy Jefferies said it sees margin upside for the railroad company. "We like CP and NSC for idiosyncratic growth (CP) and margin (NSC) stories." Piper Sandler upgrades Fastly to overweight from neutral Piper said investors should buy the dip in shares of the cloud-computing company. "Following a 30% YTD pullback, we are upgrading shares of FSLY from Neutral to OW with a $16 PT based on 3.5x CY25E Sales." JPMorgan upgrades GE Vernova to overweight from neutral JPMorgan said investors should buy the dip in the stock. "We are upgrading GEV to Overweight from Neutral. The stock has pulled back 14% since the April 2 spin, we believe largely owing to technical/flowback selling, and is now trading at a discount to our YE24 price target of $141 introduced in our recent initiation." Loop upgrades Ulta to buy from hold Loop said investors should buy the dip in shares of the stock. "We believe last week's selloff was well overdone, particularly given the extremely difficult comparison Ulta Beauty is facing in F1Q 2024." Goldman Sachs upgrades BJ's to buy from neutral Goldman said it sees earnings upside for the warehouse retailer. "We are upgrading BJ to Buy from Neutral with an updated 12-month price target of $87, as we see earnings upside driven by a better top-line outlook with the return of volume growth in grocery and solid inflation support along with greater customer engagement likely in general merchandise categories amid an improving consumer backdrop and the company's assortment refresh." Deutsche Bank reinstates Broadcom as buy Deutsche said it sees a slew of positive catalysts for the stock. "We are reinstating coverage of AVGO with a buy rating and a new price target of $1,500." Bernstein reiterates Tesla as underperform Bernstein said a Tesla Model 2 won't be as big a boon to the company as investors think. "The upshot is that the Model 2 will invariably be a huge boost to Tesla - but perhaps not as big as investors believe." Wolfe downgrades Eaton to underperform from peer perform Wolfe downgraded the electrical company mainly on valuation. " ETN continues to outperform. Perhaps not quite a tulip mania, but the valuation is becoming ever more de-coupled from fundamentals." Citi upgrades Take-Two to buy from neutral Citi said it sees an attractive risk/reward for the video game company. "We are upgrading Take-Two from Neutral to Buy and raising our target price from $170 to $200." Needham initiates D-Wave Quantum Needham said it's bullish on shares of the quantum-computing company. "We are initiating D-Wave Quantum with a Buy rating and have established a $2.50 price target. D-Wave is a pure-play quantum computing company that targets commercial applications with a unique quantum annealing technology. " JPMorgan reiterates Netflix as overweight JPMorgan raised its price target on the stock to $650 per share from $610 heading into earnings on April 18. " Netflix shares have significantly outperformed YTD — up +31% vs. the SPX +9% — and are 8% from the all-time highs of November 2021." KeyBanc reiterates Nvidia as overweight Key raised its price target on the stock to $1,200 per share from $1,100. "We view implications for our latest cloud tracker as moderately positive for NVDA and neutral for AMD, ARM, and INTC." Oppenheimer reiterates Meta as outperform Oppenheimer said it sees AI upside for Meta shares. "Increasing estimates and target to $585 (from $525) as AI driving revenue upside." Oppenheimer reiterates Alphabet as outperform Oppenheimer raised its price target on the stock to $185 per share from $172. "Following our ~1K person survey on Search/AI user behavior, we think GOOG shares remain attractive ahead of 1Q results and potential Gemini update at May Google I/O event given derisked model, discount to NASDAQ, and mixed/bearish investor sentiment." Citi reiterates Chipotle as buy Citi raised its price target on the stock to $3,358 per share from $3,016 ahead of earnings later this month. "We expect a top-line beat and encouraging commentary regarding momentum through the quarter, which, combined with a ramping benefit from thruput initiatives as CMG moves into its busier season..." JPMorgan adds PVH to the focus list JPMorgan added the stock to its focus list following a series of meetings with PVH management. "We hosted CEO Stefan Larsson, EVP & CFO Zac Coughlin, and SVP of Investor Relations Sheryl Freeman for group meetings." Evercore ISI reiterates Disney as outperform Evercore said it's sticking with its outperform rating on Disney shares. "We are increasing our price target from $115 to $130 to reflect an 18% premium to the S & P 500 on calendar 2024E EPS of $5.11 (+5% ahead of consensus)." Susquehanna upgrades Transocean to positive from neutral Susquehanna said it's getting bullish on shares of the oil field services company. "We also upgraded RIG to Positive as the offshore, ultra-deepwater market has rising demand, supply constraints, and pricing momentum." Cantor Fitzgerald upgrades Applied Materials to overweight from neutral Cantor said in its upgrade of the semiconductor company that it has a "clear path to share gains." "Adding AMAT (OW, PT $260) to Top Picks." Cantor Fitzgerald names Nvidia a top pick Cantor said Nvidia continues to be an AI winner. "AI momentum remains strong and should drive another solid beat and raise." Bank of America upgrades Huntington Bancshares to buy from neutral Bank of America says the regional bank is "well positioned." "Upgrade rating on Huntington Bancshares (HBAN) to Buy from Neutral. We view HBAN as well positioned to navigate multiple macro-economic outcomes." BTIG initiates Outset Medical as buy BTIG said the dialysis company is well positioned. " Outset Medical (OM) markets a pioneering dialysis system, Tablo, that can be used in both acute and home dialysis settings to address an $11.4B U.S. TAM [total addressable market]." Truist upgrades Sealed Air to buy from neutral Truist said in its upgrade of the stock that it has a compelling valuation. "We upgrade SEE to Buy from Hold and increase our price target to $44 from $39 given the company's growth potential once transitory headwinds abate, and ongoing portfolio rightsizing and cost savings initiatives, forthcoming operational improvements, and attractive valuation." Citi resumes SoFi as buy Citi resumed coverage of SoFi with a buy and said it sees "business diversification." "We resume coverage after a period of Rating Suspended with a Buy/High Risk (1H) rating and target price of $11." Melius reiterates Dell as buy Melius says Dell is "gaining ground" in the AI wars. "Still a Buy on AI - Dell is Gaining Ground." KeyBanc reiterates Apple as sector weight Key said its survey checks show iPhone demand remains "soft" for Apple shares. "Results from our iPhone carrier survey and Key First Look Data results reflect soft iPhone demand."