Here are Monday's biggest calls on Wall Street: UBS reiterates Nvidia as buy UBS said it's sticking with Nvidia shares heading into earnings later this month. "After a series of customer discussions and more supply chain work, we are making just slight adjustments to our model but our PT remains $150." Morgan Stanley reiterates Disney as overweight The firm said it's bullish on Disney's Experiences division.
"We view Experiences expansion as notable given its long history of high and rising ROIC. ..
. .Last Fall, Disney revealed plans to double capex in its Experiential assets over the next decade.
We now see its plans for both US parks and its cruise fleet." RBC initiates Ardent Health as outperform RBC said the behavioral health company has a differentiated platform. "We are initiating coverage on Ardent Health Partners, Inc .
(NYSE: ARDT) at Outperform with a $23 price target." Wolfe downgrades Qualcomm to peer perform from outperform Wolfe said Apple's internal modem use is finally having an effect on Qualcomm. "Downgrading QCOM to Peer Perform from OP due to a view that AAPL's internal modem will finally have an impact, premium Android has by now normalized, and IOT growth (QCOM's likely focus at their Nov.
analyst day) will likely be a tougher sell to investors." Wedbush reiterates Apple as outperform Wedbush said it's bullish on the upcoming iPhone cycle. "With anticipation from the Street and broader tech industry building for Apple's iPhone 16 AI driven launch in September, our recent Asia checks this week are giving us more confidence this upgrade cycle will kick off a long awaited renaissance of growth for Cupertino over the next year.
" Jefferies upgrades Par Technology to buy from hold Jefferies said it's bullish on shares of the "pure-play" restaurant tech platform. " PAR has made significant progress in positioning itself for durable, profitable growth." Evercore ISI adds a positive tactical call on Walmart Evercore said it's bullish heading into earnings later this week.
"Steady ship providing a port in the storm of consumer volatility. We are initiating a positive Tactical Trading Call or TAP ahead of earnings on 8/15 as we see 2Q Comp and EPS coming inline with the Street and we believe Walmart can hold its full year guidance for sales/earnings." HSBC initiates GE Vernova as buy The firm said it's bullish on shares of the energy company.
" GE Vernova (GEV) is a leading supplier of equipment and services for the generation and transmission / distribution of power, well placed in our view to benefit from secular tailwinds in the energy sector. Piper Sandler upgrades Robinhood to overweight from neutral Piper said in its upgrade of the stock that it sees an attractive entry point. "We also expect HOOD to benefit from the launch of a new web-based trading platform and the rollout of index options & futures trading later this year.
" Goldman Sachs initiates General Mills as buy Goldman said it's bullish on shares of the food products company. " GIS has a high-quality and diverse portfolio that aligns with current consumption trends, while exposure to private label risk appears better than feared and the company has a solid history of more resilient margins vs peers." Piper Sandler initiates TWFG as overweight Piper said it's bullish on shares of the insurance broker.
"We are initiating coverage of $1.06 billion market cap TWFG with an Overweight rating and a $27/share Price Target." Canaccord upgrades Blend Labs to buy from hold Canaccord said it's bullish on shares of the mortgage application fintech company.
"Counting many leading players in the mortgage lending space as customers, Blend's share of market at this point means the company will be a material beneficiary of an uptick in mortgage volumes." Mizuho reiterates Micron as outperform The firm lowered its price target on the stock to $145 per share from $155 but said it's sticking with the stock. "Maintain Outperform on MU , STX, WDC, while raising MU estimates and lowering PT to $145 from $155 with lower market multiples amid the recent AI pullback.
" Goldman Sachs initiates Conagra as buy Goldman said the food products company is best positioned. "We view CAG as a well positioned frozen and snack portfolio that aligns with current convenience and consumption trends, while exposure to private label risk appears better than feared." Morgan Stanley names Cummins a top pick Morgan Stanley said the machinery company is a top idea.
"Move CMI to 'Top Pick' and reiterate Overweight as preferred way to play Data Center theme in Machinery." Wells Fargo reiterates Starbucks as overweight Wells said it's positive that the coffee giant continues to attractive activist investors. "Starboard joins Elliott in the quest to revive SBUX , per Fri reports.
Details are slim, but this isn't Starboard's first Restaurant rodeo, adding more credibility to the 'activist team' and putting operational improvement in scope. We lean positive." Bank of America upgrades Liberty Global to neutral from underperform Bank of America said the media stock's valuation is looking more positive.
"Liberty announced 5 strategic moves to unlock value in its share price at YE results in February. Wells Fargo upgrades Prudential and Allstate to equal weight from underweight Wells said in its upgrade of both insurance stocks that it's taking a "more defensive view." "ALL is seeing results turn in auto and while we are more positive on PGR (seeing better growth) we believe the worst is in the rear-view mirror for ALL.
PRU has a strong capital base, ongoing momentum in its key businesses, and alternative capital levers." Deutsche Bank upgrades Eli Lilly to buy from hold Deutsche upgraded the stock following earnings last week. "LLY's 2Q24 big beat and raise in our view helped settled some nerves in a volatile macro backdrop.
Bank of America upgrades Churchill Downs to buy from neutral Bank of America said it likes the racing company's growth pipeline. We are upgrading share of Churchill Downs (ticker: CHDN) from Neutral to Buy and raise our PO to $155 from $145 based on 13x 2025E EBITDA." Bank of America upgrades Coherent to buy from neutral Bank of America upgraded the semis manufacturer and said it likes the operational turnaround.
"We really like COHR's selection of new CEO and industry veteran Jim Anderson, well regarded for his prior turnaround at Lattice Semi." HSBC upgrades Take-Two to buy from hold The firm said in its upgrade of Take-Two that the outlook is improving for the game maker. "We see an improved outlook for mobile gaming and have greater confidence in topline guidance as the GTA6 [Grand Theft Auto] release date draws closer and is reaffirmed by management alongside a solid releases pipeline.
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