Here are Monday’s biggest calls on Wall Street: UBS upgrades Janus Henderson to buy from neutral UBS said the asset manager is well positioned for growth. ” JHG screens reasonably priced given its potential for double-digit EPS growth and, therefore, presents a compelling entry point as the firm executes on its growth strategy, in our view.” Bank of America initiates Smithfield Foods as buy The firm said the food products company is the “beneficiary of best pork cycle in more than five years.” “We initiate coverage of Smithfield Foods (SFD) with a Buy rating and $28 price objective…” Morgan Stanley upgrades Alibaba to overweight from equal weight Morgan Stanley said in its upgrade of Alibaba that the China e-commerce is now its preferred pick. “As the market shifts focus from weak consumption to technological breakthrough in China, we believe China Internet offers superior exposure to AI enablers / adopters.” Guggenheim upgrades Wingstop to buy from neutral The firm said the wings company has “competitive strength.” “We are upgrading Wingstop to a Buy rating (from Neutral) and reinstituting a price target at $280.” Morgan Stanley reiterates Nvidia as overweight The firm said it’s standing by Nvidia heading into earnings later this week. “We continue to think that near-term fundamentals are strong – more so than 60 days ago as we have seen improvements on multiple levels.” UBS upgrades RTX to buy from neutral UBS said it sees “idiosyncratic drivers” for the aerospace and defense company. “We believe RTX is well positioned at the intersection of strength in commercial OE and aftermarket, Defense has international growth drivers, and we see a number of company-specific drivers.” Barclays initiates Blue Owl as overweight The firm said the alternative asset manager is well positioned for growth. “We believe OWL is well positioned in many of the spaces (credit, wealth), with recent M & A putting them in the right places for continued future growth..” Jefferies upgrades Nike to buy from hold Jefferies said the stock is its new top pick and that the brand remains robust. “CEO Hill is tackling product and distribution issues head-on, positioning the brand to again outgrow the market and take back lost share. Survey work illustrates NKE’s brand remains very strong, proving that issues were self inflicted and competitive threats less severe.” Morgan Stanley upgrades Twilio to overweight from equal weight The firm said shares of the cloud communication company are compelling at current levels. “We are increasingly confident in crediting TWLO’s execution toward double-digit growth and operating margin outperformance on back of increased cross-sell, supported by our recent checks.” Wolfe upgrades Carrier to outperform from peer perform Wolfe upgraded the air conditioning and heating company after a meeting with company management. “We recently had the opportunity to deep-dive with Carrier management during our CO meetings, and so this is an opportune time to refresh our view now that FY25 guidance is in the books and ahead of the upcoming May 19 investor event.” BMO upgrades Block to outperform from market perform BMO said it sees a compelling entry point for Block. “We see an attractive entry point following the 4Q sell-off, and believe Street estimates now have less downside risk, while sentiment/positioning is more balanced.” Jefferies upgrades Freshpet to buy from hold Jefferies said share of the pet food company are attractive at current levels. “That said, valuation is at a five-year low, We think FRPT shares are worth 50% above where it is trading.” Stifel upgrades Old Dominion to buy from hold Stifel upgraded the freight shipping company and said it sees a buying opportunity. “…we see an opportunity for investors to get involved in LTL [less-than truckload] again—a great fundamental story. … .We are upgrading ODFL , XPO, and SAIA from Hold to Buy.” Goldman Sachs downgrades Conagra to neutral from buy Goldman downgraded the food products company due to a lack of visibility. “After a second operational issue in six months, the path of improvement for CAG has been elongated with less visibility. Moreover, we recently started seeing an increased focus on frozen by a key peer, which will likely make CAG’s recovery from these issues more challenging.” Bank of America reiterates Dell and Apple as buy The firm said Apple and Dell may need to raise prices if tariffs are imposed. “If tariffs of 10–25% are imposed, PC makers like Dell , HP, and Apple will likely pass the added costs onto buyers, raising prices by at least 10% in the US or raise prices across more geos by a lower magnitude.” UBS reiterates Berkshire Hathaway as buy UBS raised its price target on the stock to $557 per share from $536 following earnings on Saturday. “We continue to believe BRK’s shares are an attractive stock in an uncertain macro environment, while insurance fundamentals remain strong and with good margin visibility.” Bank of America downgrades Rivian to underperform from neutral The firm said Rivian has a “complicated” earnings forecast. “We downgrade RIVN from Neutral to Underperform. RIVN remains one of the most viable among the startup EV OEMs [original equipment manufacturers] and is making progress towards sustainably positive gross margins.” Wedbush reiterates Tesla as outperform Wedbush said it’s standing by the stock. “Tesla is gearing up for a new mass market vehicle launch in 1H25, making major product developments around autonomous/Optimus across its global production ecosystem, Austin unsupervised FSD launch set for June, and a host of other growth EV/battery catalysts on the horizon.”
