Here are Monday’s biggest calls on Wall Street: Stifel reiterates Tesla as buy Stifel cut its price target on the stock but said it is sticking with Tesla shares. “We are updating our forecasts to reflect lower near-term sales, and trimming our target price to $455 from $474. We expect share price volatility to persist in the near term, but remain optimistic on TSLA’s medium- to long-term prospects and reiterate our Buy.” Morgan Stanley upgrades KLA to overweight from equal weight Morgan Stanley says it sees a “rich catalyst” path ahead and robust earnings in late April for the semis company. “We see a rich catalyst path for a re-rating: MarQ 2025 earnings (late-April): KLA should be able to guide JunQ rev of flat q/q or better, with TSMC strength offsetting China weakness.” Deutsche Bank upgrades Goodyear Tire & Rubber to buy from hold Deutsche Bank said it sees “improved performance” from the tire company. “Similarly, our conversations with the company have given further confidence that it has the necessary traction to achieve its targeted $1.5bn in cost savings and margin improvement by the end of 2026. The improved performance comes at a time when tariff policy could leave Goodyear a relative winner within our coverage, with most of its US demand served by domestic manufacturing and tires (at least for now), not included in the tariffs announced last week.” Cantor Fitzgerald reiterates Nvidia, Broadcom, Marvell, Micron and ASML as overweight Cantor Fitzgerald said it is sticking with its overweight ratings on a slew of semis stocks. “Our Top Picks remain NVDA (sustained AI spend + product cycle), AVGO (custom silicon ramp + networking), MRVL (custom silicon ramp + networking), MU (HBMrelated upside), ASML .” BMO upgrades Steel Dynamics to outperform from market perform The firm called the company “best in class.” “We are upgrading our rating to Outperform (from Market Perform). Steel Dynamics is a best-in-class domestic US steel producer, with a product portfolio that is relatively well-positioned to benefit from expanded Section 232 tariffs.” HSBC upgrades PNC Bank to buy HSBC said it sees an attractive entry point. ” PNC shares are down 19% from their late November 2024 highs (vs S & P 500 down 5% over the same time frame). We now see an attractive entry point to add exposure to a high quality banking institution with proven discipline around risk and capital allocation.” Mizuho initiates Viper Energy as outperform Mizuho said the energy company is in a “league of its own.” “We are initiating coverage of Viper Energy (VNOM) with an Outperform rating and $56/share PT.” Evercore ISI adds Brinker to the tactical outperform list Evercore ISI added a tactical outperform on Brinker and says it sees a compelling entry point for the owner of Chili’s. “Many investors are understandably wary of Chili’s ability to lap increasingly difficult SSS comparisons. More specifically, investors wonder if Chili’s had caught lightning in bottle with successful social media marketing (e.g. cheese pull videos being featured on Tik Tok) and younger consumers.” BMO downgrades U.S. Steel to market perform from outperform BMO downgraded U.S. Steel on valuation. “We are downgrading our rating to Market Perform (from Outperform) as in our opinion the current share price is nearing fair fundamental value.” Barclays downgrades Canada Goose to underweight from equal weight Barclays said it sees too much competition for the clothing company. “We are downgrading shares of GOOS to UW based on 1) global macro pressure; 2) increasing competitive pressure; 3) potential impact of tariff exposure.” Jefferies upgrades Wingstop to buy from hold Jefferies said Wingstop has “defensive qualities.” “Enough drivers to navigate tough backdrop, with potential unlocks that could set up for positive surprises ahead.” Evercore ISI reiterates Netflix as outperform The firm said its survey checks show Netflix has a large runway for growth internationally. “Consistent with our HQ (High Quality) framework, we see Netflix facing a very large TAM with still SD% [single digit] share of that TAM, with one of the ‘Net sector’s strongest management teams, with an extremely strong and growing value proposition (which supports ongoing pricing power), and a very solid track record of innovation.” Truist upgrades Celsius to buy from hold Truist said it is bullish on the energy drink. “We are raising our rating on CELH to Buy from Hold and our 12-month price target to $45 from $35. In our opinion, the market is already looking past the hiccups of the legacy business in 2024 and the brand’s slowdown in 1Q25.” Jefferies initiates Norwegian Cruise Line as buy Jefferies said shares of the cruise company are at a discount. “As the fourth largest cruise line in the world (behind CCL, RCL, and MSC), there is a lot to like about NCLH, including: 1) reasonable capacity growth of MSD to HSD [mid single digit to high single digit], 2) MSD net yield growth, and 3) a relatively new CEO pushing cost efficiency.” Bank of America initiates Cava as buy The firm called the Mediterranean restaurant company a “value compounder.” “Like best-in-class operator peers, CMG and TXRH, CAVA has created a model that offers compelling value to customers while also translating its persistent topline growth into high and rising returns.” Bank of America reiterates Meta and Alphabet as buy The firm said it is sticking with both stocks as tariffs loom. “While the entire sector has tariff exposure, we expect Large Cap Online media platforms to hold up better ( GOOG , META) given less relative brand exposure and/or more robust advertiser auctions.” Cantor Fitzgerald initiates Okta as overweight The firm said the identity access management company is well positioned. “Okta is a leader in the identity security space, but the industry giant has encountered growth challenges of late.” Bank of America initiates Kestra Medical Technologies The firm said the wearable medical device tech company has a “compelling GM [gross margin] expansion opportunity.” “We are initiating coverage on Kestra (KMTS) with a Buy rating and $30 PO.” Barclays reiterates Apple as underweight Barclays said Apple has a “challenging growth backdrop, undefined AI strategy and a premium valuation.” “According to our sell-through checks, iPhone sell-through in China has been muted since the IP16 launch. AAPL continues to experience market share losses in China. Especially in Feb when Android were strong, relatively muted iPhones imply additional points of share losses.”
