Here are Monday’s biggest calls on Wall Street: UBS reiterates Tesla as sell UBS said the stock remains overvalued. “We believe TSLA remains fundamentally overvalued, but the price reaction will depend on Musk’s call comments.” Bank of America initiates Caris Life Sciences as buy The firm said the biotech company has a “best in class financial profile.” “Caris Life Sciences (CAI) is a molecular diagnostic company with a differentiated, data-driven platform for tissue-based tumor profiling.” Goldman Sachs initiates Nebius Group as buy Goldman said the AI cloud company is well positioned. “We initiate on Nebius (NBIS), a leading player in the AI Neocloud market (a niche AI GPU infrastructure rental market), with a Buy rating and a 12-month price target of $68 implying c.45% upside” Citizens downgrades Goldman Sachs to market perform from market outperform The firm said in its downgrade of Goldman that the bull thesis has played out. “At $700+ today, we believe much of our thesis has played out and the bar is now much higher for another leg up. Accordingly, while we are bullish on the business, we see the risk/reward as balanced and we will evaluate for a new entry point or developments that change our valuation framework.” Read more. Morgan Stanley initiates SPS Commerce as overweight Morgan Stanley said the retail solutions company is a share gainer. ” SPS Commerce is best known for its market-leading Electronic Data Interchange (EDI) capabilities for retailers that are accentuated by one of the largest retail trading partner networks in the industry with over 500,000 trading connections.” KeyBanc reiterates Nvidia as overweight KeyBanc said it’s bullish on Nvidia’s Blackwell chip. “The continued ramp of Blackwell and the initial ramp of Blackwell Ultra with higher ASPs [average selling price] should support continued upward estimate revisions.” UBS upgrades American Axle to buy from neutral UBS said it sees an attractive risk/reward for the auto supplier. “Our thesis is based on: 1) A longer tail for core AXL programs such as GM’s full-size truck/SUV platform amid a relaxed US emissions regulatory environment. 2) GM adding US capacity is a net positive for AXL that could boost outer year earnings power and is not yet in consensus numbers.” UBS upgrades Visteon to buy from neutral UBS said shares of the auto supplier are compelling. “We are upgrading VC to Buy from Neutral and raising our PT to $142. Our call is based on: 1) seeing a true durable outgrowth story driven by increased penetration through diversifying and growing with new customers such as Toyota; 2) reasonable out-year expectations.” Piper Sandler downgrades Best Buy to neutral from overweight Piper said it sees no “meaningful catalysts” ahead. “We are downgrading BBY to Neutral and reducing our PT to $75. Certainly, we recognized BBY has underperformed YTD, and both expectations and valuation are low.” Baird upgrades nCino to outperform from neutral Baird said the fintech company is firing on all cylinders. ” nCino is well underway on many initiatives, all aligned to reaccelerate subscription growth into DD% YoY range.” Read more. Baird downgrades Henry Schein to neutral from outperform Baird said it’s concerned the dental company could be losing a big customer. “Downgrading HSIC to Neutral/lowering price target to $72 on concerns HSIC’s biggest global customer (Heartland Dental) may be looking to transition away from HSIC by year-end.” Citizens initiates Hinge Health as market outperform Piper said the health company is well positioned. “We initiate coverage of Hinge Health , which is working to ‘build a new health system,’ with reduced costs for employers and improved experiences and outcomes for patients by utilizing tech to scale and automate the delivery of care, starting with physical therapy, with a Market Outperform rating and a $58 price target after the company’s IPO at $32/ share on May 22.” Piper Sandler downgrades Oscar Health to neutral from overweight Piper said it sees an unattractive risk/reward for the health company stock. “We downgrade OSCR from Overweight to Neutral and revise our PT to $14.00 (prior $18.00).” Guggenheim downgrades Rivian to neutral from buy Guggenheim said it’s concerned about softening sales for the EV company. “We are updating numbers post- RIVN 2Q deliveries and lowering our rating to NEUTRAL from BUY to reflect softer long-term R2/R3 assumptions driven by both softer R1 sales and negative US Electric Vehicle and Emissions policy changes.” Read more. Piper Sandler downgrades SoundHound to neutral from overweight Piper said it sees a tough setup for the AI company. “We are downgrading shares of SoundHound from OW to Neutral but reiterating our $12 price target.” Evercore ISI initiates Guardant Health as outperform Evercore said the biotech company is well positioned for growth. “We are initiating coverage of Guardant Health (GH) with an Outperform rating and $60 PT (represents ~20% upside from current levels).” Raymond James upgrades Paymentus to outperform from market perform Raymond James said shares of the electronic bill payment company are attractive. “We are upgrading PAY to Outperform from Market Perform as we view the recent drawdown in the stock as a compelling buying opportunity.” Wells Fargo upgrades Omega Health to overweight from equal weight Wells said shares of the health care company are attractive. “With an attractive valuation and investment pipeline opportunity set ahead, we are comfortable with OHI’s risk-reward profile.” Deutsche Bank upgrades Hyatt Hotels to buy from hold Deutsche said shares of the hotel company have more room to run. ” Hyatt (upgrading to buy), given, what we believe remains the best catalyst path in lodging looking forward…” Evercore ISI downgrades Procter & Gamble to in line from outperform Evercore said it sees too many negative catalysts ahead. “Macro pressures are transient, and unlike prior downturns, Procter’s portfolio now extends into mid-tier flanker brands in its price-sensitive categories, offering alternatives to pressured consumers.” BTIG upgrades Synchrony & Bread Financial to buy from neutral BTIG said both consumer financial stocks have more room to run. “We think the share growth for BFH and SYF will come from both 1) their ability to loosen their already-tight underwriting as credit performance has strengthened, and 2) using the increased pricing implemented in 2024 to garner more share gains by going after a wider net of customers.” Needham initiates Shopify as buy Needham said it likes the company’s “durable growth.” “We initiate coverage on Shopify with a Buy rating and $135 PT.” William Blair upgrades Stitch Fix to outperform from market perform William Blair upgraded the stock following a series of constructive meetings with management. “We hosted meetings with Stitch Fix CEO Matt Baer and CFO David Aufderhaar. The company has increasingly been in a more offensive stance as it moves out of the second phase of Baer’s restructuring strategy and into the ‘growth’ phase, embolden by a return to revenue growth in the April quarter, which was a year ahead of prior guidance.” Morgan Stanley adds a catalyst driven idea on Taiwan Semiconductor The firm said it’s bullish on the semis stock heading into earnings. “We expect TSMC’ s share price to rise if it raises full-year revenue guidance. We suggest accumulating ahead of the July 17 print given low expectations.” Morgan Stanley downgrades CrowdStrike to equal weight from overweight Morgan Stanley downgrades CrowdStrike on valuation. “Stepping to the sidelines given full valuation after ~50% run and rising growth expectations. Still a compelling long-term story, but the second half acceleration we expect now looks well priced in the shares.” Argus initiates Coinbase as buy Argus said the crypto company is a market leader. “We are launching coverage of Coinbase Global Inc. with a BUY rating and a price target of $400.”
