Listed below are the most important calls on Wall Road on Monday: TD Cowen reiterates Nvidia as purchase TD stated Nvidia stays a high choose on the agency. “NVIDIA Is Our Group’s High Decide, the Far and Away Tech Chief in AI.” Mizuho reiterates Superior Micro Units as outperform Mizuho says it is sticking with the inventory following its AI day final week. “With AMD gaining server share, a possible PC rebound and upcoming AI product launches, we see a base case PT of $19…” Mizuho reiterates Broadcom as outperform Mizuho raised its worth goal on the inventory to $220 per share from $190. ” AVGO OpenAI AI Chip win might be Doubtlessly > $16B alternative into 2H25-26E.” Goldman Sachs upgrades Ibotta to purchase from impartial Goldman Sachs reiterates Alphabet as purchase Goldman lowered its worth goal on the inventory to $208 per share from $217 citing a slew of headwinds for Alphabet. “As to the present working surroundings we see a strong/secure surroundings for direct response promoting , a secure, albeit weaker vs trade tendencies, model promoting surroundings and continued media consumption positive aspects for brief/lengthy type video content material with monetization positive aspects of short-form video, whereas slowing, nonetheless appearing as a tailwind within the subsequent 12-18 months.” Wells Fargo upgrades Flutter to obese from equal weight Wells says buyers can purchase the dip in shares of the playing firm. “We’re upgrading FLUT to OW, with our new $295 PT implying 34% upside.” Truist downgrades Amgen to carry from purchase Truist stated in its downgrade of Amgen that it sees rising competitors for the biotech firm. “…pipeline competitors mutes upside potential. Downgrade to Maintain, PT $333.” Morgan Stanley downgrades Caterpillar to underweight from equal weight Morgan Stanley stated it sees “mounting dangers of de-stocking” within the firm’s building industries phase. “Downgrading CAT to Underweight on mounting pressures in CI [construction industries] from potential destocking.” UBS initiates Surgical procedure Companions as purchase UBS says the outpatient surgical procedure firm has “enticing natural progress.” “We provoke protection of Surgical procedure Companions with a Purchase ranking and a $38 worth goal.” Piper Sandler reiterates Tesla as obese Piper says it is sticking with its obese ranking forward of Tesla earnings on 10/23. “We had been hopeful that the robo-taxi unveiling would yield an excuse to spice up estimates — and optimism is fading on this regard — however then again, there is no want for estimate cuts, as a result of we had all the time assumed that income from full self-driving (FSD) software program would not start ramping till 2027/2028.” UBS initiates Netstreit as purchase UBS says shares of the actual property funding firm are undervalued. “We advocate shopping for NTST as we count on accelerating exterior progress at a very discounted valuation.” Goldman Sachs downgrades AutoZone to promote from purchase Goldman downgraded the auto elements retailer resulting from “muted progress.” “We downgrade AZO to Promote from Purchase as we reposition our inventory rankings distribution to favor firms which can be extra uncovered to discretionary items.” Evercore ISI provides Apple to the tactical outperform checklist Evercore says it is bullish heading into earnings later this month. “Sentiment on Apple has turned extra bearish in latest weeks, and we expect buyside expectations are doubtless decrease than present consensus estimates. In opposition to this backdrop, we count on Apple to ship in-line outcomes in opposition to present estimates, which ought to allow the inventory to work increased.” JMP downgrades Duolingo to market carry out from market outperform JMP downgraded the language app firm primarily on valuation. “We’re downgrading Duolingo from Market Outperform to Market Carry out after shares have risen 78% since reporting 2Q24 earnings , are 5% above our prior worth goal, and now commerce at 27x and 19x our “Blue Sky” 2026 and 2027 EBITDA, respectively.” Baird downgrade KeyCorp to impartial from outperform Baird says the chance/reward is extra balanced for the regional financial institution. ” KEY – downgrading to Impartial, extra balanced danger/reward right here after notable SPX outperformance since our March 2023 improve.” Jefferies upgrades AptarGroup to carry from purchase Jefferies says it is bullish on shares of the pharmaceutical firm. “Given strong execution, ATR has risen ~30% YTD, however with a robust pipeline of recent merchandise similar to supply methods for GLP-1 medication, for OTC [over the counter] Narcan, and for Neffy (epinephrine nasal spray), we estimate the Pharma phase will lead an 8.5% total EBITDA CAGR by way of 2026.” Piper Sandler upgrades SentinelOne to obese from impartial Piper stated it sees a slew of constructive catalysts forward for the cyber firm. “We’re upgrading shares of S as we see a number of catalysts to buoy shares into 12 months’s finish…” Wells Fargo downgrades VF Corp to underweight from equal weight Wells stated in its downgrade of VF Corp that the proprietor of manufacturers like Vans has a valuation that is full proper now. “Downgrade to UW and decrease PT to $15. Inventory has run and valuation seems to be baking in far more upside than seems real looking. Wells Fargo downgrades Canada Goose to underweight from equal weight Wells says it sees too many China macro issues for the outerwear firm. ” GOOS has made China central to its DTC enlargement plan (now accounting for 40% of shops and > 30% gross sales), leaving the model over-exposed to the unstable macro which has gotten progressively worse by way of the 12 months.” Goldman Sachs downgrades AppLovin to impartial from purchase The agency says it sees a extra balanced danger/reward for the software program writer. “In opposition to a inventory worth of $143, we now see a extra balanced danger/reward skew to the shares from present ranges. Since being added to the Purchase Record on 04/19/2022, APP shares are up +192% vs. SPX +30%.” Goldman Sachs upgrades Ibotta to purchase from impartial Goldman says it likes the expansion alternative for the cell tech firm. “For IBTA, we see a horny danger/reward as we view present valuation ranges as under-appreciating IBTA’s ahead progress alternative round scaling 3P [third party] redemptions partnerships (Walmart, Instacart, and so forth.).” Oppenheimer reiterates Walmart as a high choose The agency says the “bull run nonetheless has legs” for Walmart. “Based mostly on our work, we’re reiterating our Outperform ranking and lifting our PT to $90 from $81.”
