Here are Monday’s biggest calls on Wall Street:
HSBC upgrades Visa, Mastercard to Buy from Hold
HSBC upgrades both payment stocks and says it sees attractive entry points.
“Upgrade V to Buy - TP to 389from389 from 389from335; upgrade MA to Buy – TP to 633from633 from 633from598.”
Morgan Stanley downgrades Tesla to Equal Weight from Overweight
Morgan Stanley says it’s waiting for a better entry point for Tesla.
“However, with the stock trading at 30x 2030 EBITDA downside to NTM [next twelve months] cons. estimates, and non-auto catalysts priced, we assume at EW and wait for a better entry.”
Evercore ISI reiterates Apple as Outperform
Evercore raises its price target on Apple shares.
“Apple will maintain its capital light approach to AI while still reaping in the benefits through new potential revenue streams and operating an ‘AI toll booth’. Maintaining our OP rating and raising our target to 325(from325 (from 325(from300).”
Pivotal downgrades Netflix to Hold from Buy
The firm says the deal for Netflix to acquire Warner Bros is expensive.
“We are moving to more conservative stance on our outlook as we believe this expensive deal does partly signal concern from management about trying to combat mediocre subscriber engagement trends.”
Deutsche Bank downgrades 3M to Hold from Buy
Deutsche says the stock’s valuation is full.
“MMM has gained 64% since we upgraded the stock to Buy in July 2024, and we credit much of this to ‘the Bill Brown effect’; the company hired a well-known, well respected industrial CEO with a strong track record of operational execution.”
KeyBanc upgrades Thermo Fisher to Overweight from Sector Weight
Key says the life sciences company has a slew of positive catalysts heading into 2026.
“We are also positive on TMO’s precise acquisition strategy, which should drive accelerating growth as shown in newly released FY27 estimates.”
JPMorgan upgrades Generac to Overweight from Neutral
JPMorgan says the stock is well positioned in 2026.
“We believe GNRC should benefit from multiple macro trends – increasing penetration of backup power owing to more frequent weather disruptions and a less stable grid, as well as increasing penetration of residential solar plus storage.”
Bernstein reiterates TSM as Outperform
Bernstein raises its price target to 330persharefrom330 per share from 330persharefrom290.
“We’re slightly above consensus on revenue, a tad below on margins, but 5% above on EPS. We view TSMC a quality compounder and a core holding for investors.”
Morgan Stanley downgrades Ferrari to Equal Weight from Overweight
The firm says it sees limited upside for Ferrari shares.
“We see only 8% upside to the shares and hence move to the sidelines for now. We see top line growing below 5% over the next three quarters, and hence wait for a better entry point”
Bernstein reiterates Nvidia as Outperform
Bernstein says it’s standing by shares of Nvidia.
“The datacenter opportunity is enormous, and still early, with material upside still possible.”
JPMorgan upgrades Novartis to Overweight from Neutral
JPMorgan says it likes the biopharma company’s pipeline.
“Overall, given the potential for a year of pipeline drive upgrades that would further enhance Novartis’ medium-term to long-term growth outlook, we believe this should drive Novartis to outperform. Hence, we upgrade the stock to Overweight and set a new Jun 2027 price target of SFr125 based on 15.7x 2027E Core EPS.”
Bank of America reiterates Carvana as Buy
Bank of America raises its price target to 455persharefrom455 per share from 455persharefrom385.
“S & P Dow Jones Indices announced that Carvana will be added to the S & P 500 index as part of the quarterly rebalance, effective prior to market open on December 22, 2025.”
Barclays upgrades KB Home to Overweight from Equal Weight
Barclays says it sees several positive catalysts ahead for the homebuilder.
“We think ROE could meaningfully recover into 2027 as KBH remains disciplined on capital allocation.”
Morgan Stanley upgrades Jefferies to Overweight from Equal Weight
Morgan Stanley says buy the dip in the investment bank.
“Looking forward, our outlook for JEF is favorable driven by the ongoing capital markets rebound, further share gain for JEF ahead with a 48% increase in MD [managing director] headcount since 2021, and a positive overall message at Investor Day on 4Q25 QTD activity and future margin improvement.”
Morgan Stanley upgrades General Motors to Overweight from Equal Weight
Morgan Stanley says GM is well positioned in 2026.
“Over the course of the last year, GM made strides in realigning their capital allocation strategy with a more tempered EV and AV growth curve (Ultium, Cruise), right-sized their China business to address a challenging competitive environment while also returning significant capital to shareholders.”
Barclays initiates Louisiana-Pacific at Overweight
Barclays says the building materials company is well positioned for share gains.
“We believe LP is in the early innings of a multi-year drive to gain share with its premium engineered wood siding solutions.”
Citigroup initiates Matador Resources at Buy
Citi says the natural gas company has a competitive advantage.
“MTDR’s strength lies in its consistent well results and vertical integration, differentiating it from peers.”
JPMorgan upgrades Devon Energy to Overweight from Neutral
JPMorgan says the energy company’s shares are compelling.
“We upgrade DVN to OW (from N) on our updated force ranking methodology, an attractive relative valuation, and tailwinds from the company’s $1.0bn business optimization plan.”
BTIG initiates Canaan at Buy
BTIG says shares of the bitcoin miner have plenty more room to run.
“We are initiating coverage on Canaan ( CAN, Buy, $3 PT),”
Bank of America initiates Pinnacle Financial at Buy
Bank of America says the regional bank is a “high growth” opportunity.
“We initiate Pinnacle Financial Partners (PNFP) with a Buy rating and a $113 PO (~18% upside).”
Benchmark downgrades Marvell Technology to Hold from Buy
Benchmark acknowledges its downgrade was controversial but says it’s concerned about Marvell’s loss of Amazon’s Trainium chip.
“Accordingly, with Marvell’s shares performing exceptionally well following its earnings report, we recommend investors take near-term profits on an overly optimistic misread of the company’s recent signals toward Amazon stability.”
Truist upgrades Five Below to Buy from Hold
Truist says the stock is reaching a growth inflection point.
“FIVE - Upgrading to Buy from Hold; Unicorn-like growth can command a higher multiple; can ‘comp the comp.‘”
Mizuho initiates Commvault at Outperform
Mizuho says the software company is best positioned.
“We initiate on CVLT with an Outperform rating and a $190 PT.”
TD Cowen upgrades Ulta Beauty to Buy from Hold
TD Cowen says it’s bullish on Ulta’s management.
“New CEO and refreshed leadership drive catalysts via stronger merchandising, disciplined promos, & global/tech growth.”
Morgan Stanley raises Old Dominion and Canadian Pacific to Overweight from Equal Weight
The bank sees an attractive risk/reward for the freight companies.
“We are upgrading ODFL and CP to OW (from EW) reflecting their relative quality and cautious investor positioning, which sets up an attractive risk-reward irrespective of what happens to the cycle, despite their relative premium valuations.”
Wedbush downgrades Pinterest to Neutral from Outperform
Wedbush sees “emerging AI risks” for Pinterest.
“We are downgrading shares of Pinterest to Neutral from Outperform and lowering our PT to $30.”
Bank of America reiterates Micron as Neutral
Bank of America raises its price target on the stock ahead of earnings later this month.
“Based on recent strong DRAM/NAND spot pricing trends, we raise our MU ests and PO to 250from250 from 250from180.”
Barclays reiterates Oracle as Overweight
Barclays lowers its price target on Oracle to 330persharefrom330 per share from 330persharefrom400 ahead of earnings later this week.
“We see AI bubble fears creating an ‘all or nothing’ mindset for shares and an attractive entry point.”
Comments