Here are the biggest calls on Wall Street on Monday: Bank of America initiates Klarna at buy Bank of America says it’s bullish on the fintech payment company. “We initiate on leading Buy Now, Pay Later (BNPL) provider KLAR with a Buy rating and $51 PO. Klarna offers consumers a convenient and transparent way to finance purchases, with its most prolific offering allowing buyers to split a transaction into four payments at 0% APR over 30-90 days.” Read more. Goldman Sachs initiates Figure at buy Goldman says the blockchain company is well positioned. “We initiate coverage of blockchain-enabled fintech lender Figure Technology Solutions (FIGR) with a Buy rating and a $42 12-month price target, based on 42.0x Q5-Q8 adjusted EPS, implying 4% upside.” Goldman Sachs reiterates Nvidia as buy Goldman raises its price target on the AI chip stock to $210 per share from $200. “We see significant upside to 2026 estimates for Nvidia, and are comfortable in risk/reward as ‘circular’ deals represent less than ~15% of revenue in 2027E.” Read more. Morgan Stanley upgrades Micron to overweight from equal weight Morgan Stanley says the stock is cheap. ” Micron is pushing the envelope on valuation as the group rallies, but we believe we are looking at multiple quarters of double digit price increases which can lead to substantially higher earnings power – and resolve any lingering questions on specialty high bandwidth memory for AI.” Read more. Wells Fargo resumes Disney at overweight Wells resumed coverage of the stock and sees a re-rating. “We think DIS’s assets are growing + maturing, creating more predictability in EPS upside that will engender a rerating. We expect solid execution and a near-term conclusion on succession. We resume coverage with a $159 PT, Overweight rating.” JPMorgan downgrades Bath and Body Works and Abercrombie & Fitch to neutral from buy The investment bank sees too many head winds for both retailers. “While ANF has made significant marketing, merchandising/supply chain, and profitaiblity improvements relative to pre-pandemic, the Abercrombie brand has experienced headwinds…While BBWI’s has experienced a recent leadership change, we see the potential positive impact to the P/L from strategic initiatives as weighted to 2H26 and FY27…” Mizuho reiterates Oracle as outperform Mizuho says shares of Oracle have more room to run ahead of its financial analyst day. “We remain bullish on ORCL heading into the Financial Analyst Day, viewing it as a key catalyst to refocus attention on Oracle’s long-term AI growth story.” Mizuho reiterates Broadcom as outperform Mizuho says the stock remains well positioned. ” AVGO To Continue Leading AI Custom Silicon with an Expanding Pipeline Driving EPS Upside, and Limited GM Dilution Impact.” Wells Fargo reiterates Microsoft as overweight Wells raised its price target on the stock to $675 per share from $650. “Key debate into FQ1 will be degree of Azure upside given incremental capacity in 1Q, though the last 2 prints (300/400bps Azure beats) present a high bar. With recent demand signals intensifying, expect MSFT broadly set to benefit. Raise PT to $675.” Baird reiterates Amazon as outperform Baird says “improving [Amazon Web Services] growth should help sentiment.” “On this ‘Open AI Monday’, we are opportunistic buyers of AMZN with likely acceleration in AWS growth in coming quarters, along with solid ongoing growth in high-margin Advertising and Services.” Wells Fargo upgrades Morgan Stanley Direct Lending to overweight from equal weight Wells says shares of the business development company are compelling. “We view MSDL as a compelling discounted name given its 0.79x NAV valuation, structural return protections through the credit lookback, and lower expense base that is more durable in a tighter spread environment.” JPMorgan reiterates Apple as overweight The firm says its channel checks show lead times are moderating for Apple’s iPhone. “In Week 4 of our Apple Product Availability Tracker, lead times moderated in what is typical for iPhones a month post launch, even though lead times are still tracking to elevated levels compared to lead times evidenced last year with iPhone 16 series, and pointing to higher demand y/y.” Jefferies upgrades Ford Motor to hold from underperform The firm says Ford has options to navigate tariffs. “We expect Ford to remain committed to an electrification strategy and should benefit from a longer adjustment period.” Rothschild & Co Redburn upgrades Affirm to buy from neutral Rothschild & Co Redburn says it’s getting more constructive on shares of the buy-now–pay-later fintech company. “Given Affirm’s more established product set and partnership-led international growth, we upgrade it to Buy. Citigroup downgrades Boston Beer to neutral from buy CIti says it sees “topline weakness” for the beer company. “We are downgrading SAM to Neutral from Buy as topline weakness continued into the summer…” Deutsche Bank upgrades Mobileye to buy from neutral Deutsche says the risk/reward is too attractive to ignore ahead of earnings later this quarter. “Ahead of 3Q earnings, we upgrade Mobileye from Hold to Buy, seeing a favorable risk/reward setup going forward.” Bank of America raises Brinker to buy from neutral, cuts Shake Shack to underperform from neutral and Sweetgreen and Papa John’s to neutral from buy The bank downgrades several restaurant companies, seeing too many macroeconomic risks. The firm also upgrades Brinker , saying the owner of Chili’s is in the midst of a turnaround. “We are downgrading Sweetgreen (PO from $18 to $10), Papa John’s (PO from $62 to $50), and Portillo’s (PO from $14 to $7) to Neutral and Shake Shack (PO from $148 to $86, see here for our: separate rating change note) to Underperform. We are upgrading Brinker (PO from $190 to $192) to Buy.” UBS reiterates Tesla at neutral UBS raises its price target on the Elon Musk-led EV maker to $247 per share from $215 “TSLA numbers will move higher post deliveries and while we expect tougher 4Q25, stock will move more on future AI commentary than numbers.”
