Top Calls on Wall Street: Alphabet, Meta, Apple, SoFi, Exxon Mobil and More

Here are Monday’s biggest calls on Wall Street:

Loop upgrades Meta to buy from hold

Loop said it sees a “brighter revenue picture” for the social media giant.

“We are upgrading Meta to Buy and raising out PT to $320. The stock has already re-rated meaningfully this year mostly on expense reductions; consensus EPS for next year is up 44% YTD on a 3% revision to revenue.”

Loop downgrades Alphabet to hold from buy

Loop said it’s concerned about AI uncertainty as it relates to the Google parent.

“We think long-term structural uncertainties surrounding the AI transition will keep investors nervous as the landscape evolves and put a ceiling on valuation.”

KeyBanc reiterates Apple as overweight

KeyBanc said it’s standing by its overweight rating Apple shares.

“We’re NT cautious but LT positive as we believe the user growth and capital return story continue to play out.”

Wedbush downgrades SoFi to underperform from neutral

Wedbush downgraded SoFi on slowing growth concerns.

“We’re downgrading shares of SOFI to UNDERPERFORM from NEUTRAL as we believe 1) the company may be nearing a tipping point on the fee income it recognizes related to loan origination and sales, 2) capital levels may be overstated using fair value accounting and we believe the company may look to raise capital this year to support growth.”

Morgan Stanley reiterates Exxon Mobil as overweight

Morgan Stanley said it has “high confidence” in the oil and gas giant.

“Last week, we hosted investor meetings with XOM’s management team at their headquarters in TX. The benefits from the company’s portfolio of advantaged growth projects are clear, and we came away with high confidence in XOM’s ability to deliver >2x earnings by ’27 (vs ’19).”

Wells Fargo reiterates JPMorgan as overweight

Wells said it’s bullish heading into the banking giant’s investor day.

“JPM is a best-in-class global bank, and the May 22 investor day should highlight the ‘Goliath is Winning’ theme.”

Citi adds a positive catalyst watch on Lam Research

Citi said the semiconductor company is a “self-help” story.

“Moreover, we believe Lam has the most ‘self-help’ story coming out of the downturn as the company expands its broader Asia manufacturing footprint to structurally improve gross margins to 47-48% from current 44% once the growth resumes.”