Here are Monday’s biggest calls on Wall Street:
Bank of America reiterates Nvidia as buy
The firm said it’s sticking with the stock heading into earnings later this week.
“NVDA reports on Wed with sell-side consensus for FQ3/FQ4 sales at $33.2bn/$37bn, though as usual bullish investors’ expectations likely at least a $1bn+ higher at $34bn/$38-$40bn for FQ3 and FQ4.”
Bernstein reiterates Tesla as underperform
The firm said the EV automaker is full-self driving beneficiary under a Trump administration but it’s sticking with its underperform rating.
“Trump is anti-EVs, but TSLA is on a tear. Tesla’s stock is up 28% since Trump’s election victory, despite the fact that the new administration will likely end IRA consumer and battery manufacturing tax credits, potentially lower emissions standards and could increase tariffs on Chinese batteries.”
Bank of America reiterates Alphabet as buy
The firm said it’s bullish on Alphabet search in 2025.
“We expect an eventful year for search in 2025, with new competition, remedy ruling in DOJ case, and Google capitalizing on new AI overview format (better results, more ads). For the last three months, Google’s US search share has increased, and the global rollout suggests Google is seeing a positive impact on search share.”
Oppenheimer reiterates Netflix as outperform
Oppenheimer said the Jake Paul-Mike Tyson fight “demonstrates [the] ability for meaningful” live event viewership for Netflix.
“While the press will focus on the technical bandwidth issues and customer complaints, our guess is that viewing was likely ~2x internal expectations, a high quality problem than can be easily fixed by Christmas Day.”
HSBC upgrades Moderna to buy from hold
HSBC said the biotech company is undervalued.
“We think there is a good opportunity for Moderna’s pipeline to support the back-to-growth story and view it as currently undervalued.”
Baird upgrades Roku to outperform from neutral
Baird said in its upgrade of Roku that it sees an “attractive long-term opportunity.”
“ROKU is down 25% YTD vs. S&P 500 +23%. Historically, we have been hesitant regarding the company’s execution in a rapidly evolving streaming landscape - but we now think shares are overlooking the meaningful changes in the business and the attractive long-term opportunity.”
Wells Fargo upgrades CVS to overweight from equal weight
Wells said the “aggressive growth strategies” have “likely peaked.”
“We are upgrading CVS to Overweight from Equal Weight and increasing our PT to $66. We believe the negative consequences of aggressive growth strategies at Aetna have likely peaked and create a compelling investment opportunity.”
Needham downgrades Biogen to hold from buy
Needham said it sees a lack of upside for the stock.
“We are stepping to the sidelines as we do not see a meaningful source of upside for BIIB over the next 12 months.”
