Here are Monday’s biggest calls on Wall Street: UBS reiterates Nvidia as buy UBS lowered its price target on the stock but said it’s sticking with Nvidia ahead of earnings later this month. “We expect Q/Q growth to reaccelerate in C2H [calendar] and see F2027/C2026E EPS of nearly $5.90 versus most investors now thinking low $5s. Net, we maintain Buy rated of the stock, but on lower estimateswe cut our PT from $180 to $175.” Jefferies upgrades Marriott to buy from hold Jefferies said the hotel giant is well positioned. “We are upgrading MAR & HLT to Buy from Hold, as we believe the business model strength is positioned to grow through the currently uncertain business climate, and therefore peak multiples are appropriate as shares currently trade mid-range.” Morgan Stanley upgrades Astera Labs to overweight from equal weight Morgan Stanley said shares of the AI semiconductor company are compelling. “We have maintained optimism on Astera’s prospects since the IPO, but have been somewhat valuation sensitive at the higher end of the range. We think this is a good entry point as AI enthusiasm comes back to the group and ALAB posts strong numbers.” Bank of America reiterates Amazon as buy Bank of America said Amazon’s use of robotics will only continue to grow and that it sees plenty of room for growth. ” Amazon’s robotic efforts thus far have been mainly focused on fulfillment, which represents around 17% of Amazon’s total costs (and 15% of total revenues). We believe delivery could be another area of material cost savings, with shipping costs representing another 17% of Amazon total costs.” Wells Fargo reiterates JPMorgan as overweight Wells said it’s bullish heading into JPMorgan’s investor day on May 19. ” JPM could become the first $1T mkt cap bank if it continues w/its leading returns, efficiency, and market share gains over 3 yrs. Reiterate OW. ” Morgan Stanley reiterates Apple as overweight The banking giant said it sees a mixed picture on Apple Services which includes the App Store but that it’s sticking with the stock. “Is Apple’s Services business more vulnerable than ever, or are recent Services concerns overblown? We believe both are true today.” Goldman Sachs upgrades Anheuser-Busch InBev to buy from neutral Goldman said Anheuser-Busch InBev is undervalued and underappreciated. “Reaching a turning point on deleveraging with macro tailwind; upgrade to Buy.” Morgan Stanley upgrades TotalEnergies to overweight from equal weight The firm said the energy company is well positioned during oil weakness. ” TotalEnergies is more integrated along the value chain, which tends to lead to lower earnings volatility during periods of oil price weakness.” Mizuho initiates Primo Brands as outperform Mizuho said the beverage company is well positioned for growth. “Initiate coverage of Primo Brands with an Outperform rating and $43 PT.” Bernstein downgrades Target to underperform from market perform Bernstein said it sees sales and margins issues at Target. “The going is getting tough for Target. In the short term, credit card data paints a bleak picture for Q1, dampened by poor weather, weak consumer sentiment, and a DEI-related strike in March. That’s before tariffs enter the frame, which means that TGT will likely have to lower guidance for the full year.” JPMorgan upgrades Teva to overweight from neutral JPMorgan said the biopharma company has pipeline optionality. “With TEVA’s recently announced cost-cutting program providing much-needed clarity on the drivers of the company’s margin expansion in 2026/2027, we are upgrading shares to OW from N.” D.A. Davidson reiterates Alphabet as neutral D.A. said in a note on Monday that the company should be broken up. “We believe the only way forward for Alphabet is a complete breakup that would allow investors to own the business they actually want — the top competitors to NFLX, AWS/ Azure, TTD and UBER/TSLA. We remain NEUTRAL rated, but would see GOOGL as the top mega cap pick if it proceeded with a complete break up” Barclays reiterates Walmart as overweight Barclays said it’s standing by the stock ahead of earnings later this week. “WMT has outperformed the market and the retail space YTD but has lagged other staples retailers — namely the grocers, dollar stores and warehouse clubs. Part of that reflects its significant outperformance in 2024, along with its own elevated absolute valuation.” Deutsche Bank upgrades Johnson Controls to buy from hold The firm said it’s bullish on the industrial electrical company’s new CEO. ” JCI’s new CEO Joakim Weidemanis (previously at DHR) introduced himself to the investment community on last week’s 2Q25 earnings call, with a clear message. He already sees significant operational improvement opportunities at JCI after just six weeks on the job, and execution on these opportunities should allow the company to close its long-standing margin gap vs. key peers over time.” Piper Sandler upgrades Forge Global to overweight from neutral Piper said the capital markets company is undervalued. “Upgrading to OW on valuation and growing momentum in private markets. We are upgrading shares of Forge Global ( FRGE) from Neutral to Overweight.” Argus upgrades Wayfair to buy from hold Argus said homeowners with low mortgage rates will upgrade their home furnishings benefiting Wayfair. “We are upgrading Wayfair to BUY from HOLD with a target price of $40. Wishing to hold on their historically low mortgage rates (January 2021 saw the lowest ever mortgage rates), and reluctant to purchase new homes at elevated prices, many homeowners are upgrading their home furnishings; a trend we expect to benefit Wayfair.”
