Here are Tuesday’s biggest calls on Wall Street: Loop initiates BrightView as buy Loop said it is bullish on shares of the commercial landscaping company. “We are initiating coverage on BV with a Buy rating and $18 PT as we believe in the company’s long-term margin expansion and unique self-help, return to profitable growth story.” Evercore ISI reiterates Apple as outperform Evercore ISI said it is bullish ahead of Apple earnings later this week. ” Apple looks well positioned to deliver a modest beat in the Jun-qtr and guide Sept-qtr inline to likely ahead of street expectations.” Citi reiterates Nvidia as outperform Citi said it is sticking with its buy rating on the stock after attending a conference featuring Nvidia CEO Jensen Huang. The firm said it is bullish on Nvidia’s Blackwell chip. “As such, we believe Blackwell roll out appears on track.” Bank of America upgrades Affirm to buy from neutral Bank of America said shares of the fintech company could rally ahead of earnings in late August. “Given recent share price underperformance, we believe the F4Q print (late August) could be a positive catalyst.” KBW upgrades Aon to outperform from underperform KBW upgraded the risk management and consulting company following earnings. “We upgrade AON’s shares to Outperform from Underperform and raise our 12- month target price to $380 from $313 following its very strong 2Q24 earnings report and conference call.” Barclays upgrades ASML to overweight from equal weight Barclays said investors should buy the dip in the semis company. “Whilst we think 2025 is looking increasingly closer to ASML’s midpoint than upper end, we like ASML more for the 2026 opportunity.” UBS reiterates Amazon as buy UBS said it is bullish heading into Amazon earnings on Thursday. “We increase our price target to $224 (from prior $217).” Oppenheimer reiterates Netflix as outperform Oppenheimer said investors should buy the dip in shares of the streaming giant. “We are bullish on NFLX shares following its 10% pullback since the 7/5 high as the company has the best long-term visibility within our coverage and deserves to trade at a premium valuation, in our view.” Wells Fargo upgrades Sprouts to equal weight from underweight Wells Fargo upgraded the grocery store chain following earnings. “An impressive Q2 provides the best evidence yet of SFM’s remarkable turnaround. Our skepticism has clearly proven to be wrong. The stock is not cheap and we see hurdles ahead, but SFM does seem to have reignited its growth story.” Bank of America reiterates Roblox as buy Bank of America said it is standing by Roblox ahead of earnings on Aug. 1. “We expect 2Q to be a contentious print as investors look for evidence if the 1Q miss was just a blip due to search & discovery staleness.” JPMorgan downgrades Frontier to underweight from neutral JPMorgan said it sees too many negative catalysts ahead for the airline. “We are growing increasingly uncomfortable with Frontier’s dependence on sale leasebacks, the proceeds from which, in some instances, account for the entirety of Frontier’s profit.” JPMorgan downgrades Novavax to underweight from neutral JPMorgan said the biotech company is overvalued. “Coupled with the $6/sh YE25 cash forecast, but little in the way of a foreseeably value accretive proprietary pipeline, we are returning to an underweight rating of NVAX shares, establishing of Dec-25 PT of $8.” RBC reiterates Tesla as outperform RBC said it is sticking with its outperform rating on shares of Tesla. “The bullish argument therefore is 2025 consensus might not be baking in any incremental gross profit despite forecasting 250k in incremental volumes.” Deutsche Bank reiterates McDonald’s as buy Deutsche Bank said it is standing by the fast-food giant following earnings. “We expect MCD to continue to be debated (though sentiment appears slightly more positive) with bulls viewing MCD as best positioned to win in a value environment, while bears are more skeptical given concerns on pricing, trade-off between traffic/check and a noisy competitive landscape.” Bank of America upgrades LPL Financial to buy from neutral Bank of America said the financial services company has an “attractive valuation.” “We upgrade LPL Financial (LPLA) to Buy following a significant decline in valuation and deterioration in sentiment, while we now have greater transparency into cash sweep risks post calls and channel checks.” Bank of America reinstates Whirlpool as underperform Bank of America said it sees too many negative catalysts ahead for Whirlpool. “We continue to see risk to guidance that implies stronger trends in 2H24 and model 2024E EPS 13% below consensus and below guidance.” Baird upgrades Varonis to outperform from neutral Baird said it is getting bullish on shares of the automated data security company. “We were warming to the name and as data security becomes a top-priority with GenAI adoption exposing risks, VRNS’ execution and pipeline visibility position it well for growth-acceleration.” Edward Jones downgrades Abbott Laboratories to hold from buy Edward Jones downgraded the stock due to litigation fears. “We are downgrading the shares of Abbott Labs to a Hold from a Buy and removing the shares from the Edward Jones Stock Focus List due to greater-than-expected litigation risk.” Bank of America reiterates Goldman Sachs as buy Bank of America said top pick Goldman Sachs has “cyclical/secular tailwinds.” “Stock offers among the best risk/reward in our coverage universe given the potential for positive EPS revisions, and for secular re-rating as the Street better appreciates the revenue/ROE resiliency.” Morgan Stanley reiterates Bank of America, Citi, Goldman Sachs, JPMorgan and Wells Fargo as overweight The firm said it is sticking with its overweight rating on several big banks on Tuesday. “We have been pounding the table on the capital markets rebound theme, and 2Q continued to support this outlook with trading and investment banking revenues beat consensus across the majority of our coverage, including beats at BAC, C, GS, JPM , PNC and WF.”
