Here are the biggest calls on Wall Street on Monday: Melius reiterates Nvidia as buy The firm says Nvidia is “defensive.” “The clouds over the AI semis space mentioned above are winning this year despite Nvidia having tailwinds from inferencing and a clear line of sight on hyperscaler orders through year-end.” UBS upgrades CryoPort to buy from neutral UBS says the cell and gene therapy company is well positioned. ‘We’re upgrading CryoPort (CYRX) to Buy with a view that scaling cell and gene therapy service offerings provide a credible pathway to low-double-digit+ (~10%+) mid long term sales growth and positive free cash flow.” Evercore ISI downgrades Lennar to in line from outperform “Lennar is resolute in maintaining pace and letting margins be the shock absorber, and some day its “machine” could become a compelling differentiator for the company. However, in the meantime, there are real questions as to whether this machine is built for too much volume than the market will allow.” Wedbush adds IBM to the best ideas list The firm says it’s getting more constructive on shares of IBM. “We are now adding IBM to the Wedbush Best Ideas List reflecting our incremental confidence in this name. In a nutshell, investors remain nervous about the AI spending trajectory in this backdrop yet to the contrary we see many enterprises accelerating their strategic paths for 2025 which is bullish for the software ecosystem.” UBS upgrades Nucor to buy from neutral UBS said shares are compelling for the steel company. “With NUE’s medium term growth (and near term earnings momentum) and recent derating, we upgrade to Buy.” UBS upgrades Steel Dynamics to buy from neutral UBS says the steel company has an attractive entry point. “We upgrade STLD to Buy (from Neutral), $149/sh PT.” Jefferies reiterates Microsoft as buy Jefferies says Microsoft is among the firm’s favorite large-cap stocks. “Recent weakness has created attractive risk/reward.” Morgan Stanley initiates Dutch Bros as overweight Morgan Stanley says it’s bullish on the coffee chain. “A well-liked brand in a favored category, rapidly growing to be a national player. After a bit of a ride post ’21 IPO, BROS under newer mgmt is hitting its stride on development and comps, with a positive medium-term outlook, in our view, that should help the stock continue to work.” Raymond James upgrades Lumentum and Coherent to strong buy from outperform Raymond James says the telecom equipment company’s are well positioned within Nvidia’s supply chain. “We upgrade Coherent and Lumentum to Strong Buy from Outperform following Nvidia’s GTC and Corning’s analyst day meetings.” Melius upgrades Boeing to buy from neutral Melius says Boeing is “is entering a period of positive newsflow that can drive the stock higher. “With an operationally focused CEO, a faster-than-expected post-strike 737 delivery ramp, and a win over Lockheed on the Air Force’s sixth gen fighter program (Next Generation Air Dominance or NGAD), we are upgrading Boeing to Buy.” Deutsche Bank upgrades ViaSat to buy from hold Deutsche says the satellite company has “multiple paths” for equity value. “While we still have concerns about Viasat’ s core communication services business longer-term in the context of pressure from Starlink, we see multiple paths for the company to create equity value by materially deleveraging its balance sheet through asset monetization.” Goldman Sachs downgrades Super Micro to sell from neutral Goldman says the risk/reward is “unattractive” for the AI chip company. ” SMCI stock is up 38% year-to-date, making it the best performing stock in our Hardware coverage; with the stock trading at 16X F2025E P/E, we view risk-reward as unfavorable given downside risks on valuation, competition, and gross margins.” Barclays reiterates Disney as overweight The firm says Disney cruises are a key growth driver for the stock. “Disney’s cruise ship expansion comes with meaningful longterm advantages and likely accounts for a majority of growth guidance in the Experiences segment over the next couple of years; this, in turn, implies guidance for core theme parks is likely conservative, in our view.” Morgan Stanley initiates Mondelez and J.M. Smucker as overweight Morgan Stanley says J.M. Smucker has an attractive coffee portfolio. The firm also initiated Mondelez and and says the food products company has robust growth potential. “Among the large-caps, we are OW Mondelez (MDLZ) for its superior long-term growth algorithm supported by its exposure to higher-growth geographies and durable pricing power. We think The J.M. Smucker Company (SJM) offers upside as its coffee portfolio proves resilient to cost inflation and Hostess concerns abate.” Morgan Stanley initiates BellRing Brands as overweight The firm says the food company’s shares are “compelling.” “Our Top Pick is BellRing Brands (BRBR), with the recent pullback creating a compelling entry point for a scarce growth asset with attractive category exposure and near-term momentum. ” Wells Fargo reiterates JPMorgan as overweight Wells says the banking giant is well positioned for share gains. “Short term, JPM should benefit from volatility given its role as market facilitator, likely helping trading—our EPS ests. are above consensus. Medium term, JPM should benefit among the most from deregulation. Long term, tech spend at 50% more than the next largest bank should allow for more mkt shr gains.” Morgan Stanley reiterates Apple as overweight The firm said its checks show Apple is ramping up iPhone builds ahead of any tariffs “While we highlighted increased iPhone assembly visibility and China’s national electronics subsidies as two potential upside risks to C1Q25 iPhone builds last month, we believe the increase to iPhone builds this month reflects Apple pulling forward iPhone production to mitigate the impact of US/China tariffs, and therefore we don’t make any adjustment to our March quarter iPhone build forecast.” Morgan Stanley reiterates Eli Lilly as overweight Morgan Stanley says the stock remains well positioned in the diabesity space ahead of earnings on May 1. “We continue to believe oral GLP 1s, such as LLY’s Orforglipron (Orfor), could be another driver of diabesity market growth/expansion beyond the approved injectable GLP-1 medications.” JPMorgan reiterates Netflix as overweight JPMorgan says the streaming giant remains best positioned. “We remain positive on NFLX shares & our bull thesis is supported by: 1) healthy double-digit revenue growth in both ’25 & ’26; 2) continued operating margin expansion while increasing investments in content, ads, & gaming…” Bank of America initiates DT Midstream as buy The firm said in its initiation of the gas midstream company that it’s an “undervalued” data center beneficiary. “We are initiating coverage of pure-play gas midstream company DTM with a Buy rating and a $110 price objective.” Bank of America reinstates Generac as buy The firm called the battery backup company a “dominant player in a structurally expanding market.” “We reinstate coverage of Generac (GNRC) with a Buy rating and $182 PO (~40% potential upside). As a leading manufacturer of backup power, GNRC (75% market share) is well positioned to benefit from worsening grid reliability and increasingly severe weather disasters.” Jefferies upgrades FedEx to buy from hold Jefferies says investors should buy the dip in the shipper. “With the market overly distracted by the macro, we think investors are now ignoring the idiosyncratic cost transformations going on at FDX — which we think can lead to continued EPS growth in FY26/27 regardless of the top line.” Bank of America downgrades Lockheed Martin to neutral from buy The firm says it’s concerned about the ” recent quality of earnings.” “While it is our expectation that defense budgets will rise, we remain wary of Lockheed Martin’s recent quality of earnings, the loss of all 6th Gen manned tactical aircraft programs and lack of company-specific catalysts in the near-term. As a result, we are downgrading Lockheed Martin to a Neutral (from a Buy). Guggenheim upgrades Pinterest to buy from neutral Guggenheim says the social media company has “strong fundamentals.” “We believe that the recent share price pullback creates an attractive opportunity to invest in the still early-stage global user, monetization and profit growth opportunity at Pinterest. “
