Here are Monday’s biggest calls on Wall Street:
Raymond James reiterates Nvidia as strong buy
The firm says it’s sticking with Nvidia.
“NVDA’s stock has roughly tracked the S & P 500 YTD, which we consider disappointing. Investors have frequently asked us why a company with NVDA’s growth characteristics, financial position, cash generation & market leadership can trade at a discount; we do not attribute it to the fundamentals. We think investors favored momentum & scarcity trades, and this placed NVDA out of favor on those criteria.”
Stifel reiterates Tesla as buy
Stifel lowered its price target on the stock but is sticking with Tesla shares.
“Importantly, we believe TSLA is making strong progress on FSD and Robotaxi, both critical to value creation, and see a demand resurgence evidenced by its largest order backlog since 2023 and the Model YL launch. We maintain our Buy rating and are lowering our target price to $491 from $508 based on our sum-of-the-parts analysis.”
RBC reiterates SpaceX as outperform
RBC says SpaceX is attractive heading into earnings on Tuesday.
“We believe the current valuation is attractive (under 17x consensus 2028 EBITDA), but we believe investors are focused on long term challenges, looking past near-term strength and strong fundamentals.”
Goldman Sachs adds Applied Materials to the conviction buy list
The firm says the stock is best positioned.
“AMAT is positioned with the best equipment in the area with the greatest sustainable demand in the semis ecosystem, making for an outsized growth runway relative to peers.”
Truist upgrades Corning to buy from hold
Truist says it sees an attractive entry point.
“We upgrade GLW to Buy, with our $175 (fr. $205), 12-month PT implying 27% upside. Simply put, we have waited for a more reasonable entry point to get more constructive, and we now have one post a ~45% pull back in July.”
TD Cowen initiates Circle as buy
TD Cowen says the stock has “attractive platform potential.”
“We initiate on CRCL at Buy with an $82 PT. Circle is a rising infrastructure provider enabling the modernization of payments & financial markets through stablecoins.”
Morgan Stanley downgrades Circle to underweight from equal weight
The firm says it sees too many negative catalysts for Circle.
“Confluence of Tactical and Structural Headwinds Creates Numbers Downside & Multiple Drag; Downgrade to Underweight with $38 PT”
Wells Fargo downgrades eBay to underweight from equal weight
Wells downgraded eBay due to too much competition.
“Escalating US Competitive Intensity Drives Negative EPS Revisions, Downgrade to UW.”
William Blair adds GE Vernova to the conviction list
William Blair says the stock is undervalued.
“The debate taking hold of GEV shares is whether orders have peaked. We are taking the opposite side of this trade and believe that the market still underestimates the level by which electrical infrastructure and the U.S. power grid need to be built out.”
Melius upgrades Starbucks to hold from sell
Melius says a turnaround is underway.
“We are upgrading Starbucks to Hold from Sell and raising our 2-year target price to $110 (30x our FY2028 EPS estimate of $3.72) from FirstSponsor4.85%PCCS
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