Monday’s Biggest Analyst Calls: Apple, Amazon, Oracle, Eli Lilly, Airbnb, Meta, Southwest & More

Here are the significant Wall Street recommendations for Monday:

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UBS has downgraded International Flavors from buy to neutral, citing a projected deceleration in the flavors company's recovery due to slower market rebound and reduced price/cost benefits compared to previous assumptions.

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Barclays has reiterated Apple as equal weight, expressing concerns about the iPhone 15 cycle, characterizing it as a suboptimal phase marked by demand weakness and extended replacement cycles.

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Piper Sandler upgraded Health Catalyst to overweight from neutral following strong 3Q23 results that surpassed guidance in both revenues and adjusted EBITDA.

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Stifel upgraded CrowdStrike from hold to buy, anticipating positive catalysts that will contribute to sustained low-to-mid 20% growth and operating margin/FCF expansion in the coming years.

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KBW upgraded Axis Capital Holdings from market perform to outperform, citing a bullish outlook for the risk transfer company after its 3Q23 earnings report.

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Bernstein upgraded TripAdvisor to outperform from market perform, emphasizing the potential for cash generation and raising the price target based on revised estimates and other positive factors.

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Bernstein named Airbnb a top pick, anticipating a strong 2024 for the online travel company with expectations of accelerated top-line growth and increased ancillary revenues.

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BTIG initiated Gitlab as a buy, highlighting the development ops software company's favorable position in the rapidly growing DevSecOps target market.

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Raymond James upgraded Guardant Health to outperform from market perform, recommending investors to buy the dip in shares following a 22% decline since earnings.

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Raymond James upgraded Natera to strong buy from outperform, noting the resolution of bear concerns and identifying the DNA testing company as poised for significant outperformance.

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Citi upgraded Hewlett Packard from neutral to buy, citing positive momentum in the PC market and anticipating improved revenue growth driven by AI integration in outer years.

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Jefferies initiated PepsiCo as a buy, considering it a defensive stock with the potential for high-single-digit or better earnings growth in the next three years.

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Jefferies initiated Procter & Gamble as a buy, positioning it as a top and bottom-line growth leader with expectations of continued peer-leading growth over the next four years.

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Jefferies initiated Constellation Brands as a buy, foreseeing a long runway for growth for the beer company despite a stable stock price.

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Jefferies initiated Monster as a buy, identifying it as a growth story with strong core energy, significant international opportunities, and untapped growth vectors.

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Jefferies initiated Colgate-Palmolive as a buy, citing a "reinvigorated" brand lineup and projecting a +16% upside in shares in the next 12 months.

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Morgan Stanley initiated Mirum Pharmaceuticals as overweight, recognizing it as a "leader" in rare liver disease with multiple catalysts ahead.

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Edward Jones upgraded Oracle from hold to buy, stating that the current share price does not adequately reflect the company's improved sales outlook.

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Citi initiated Olin as a buy, seeing an attractive buying opportunity for the chemical company given its market position, production cost advantage, and expected long-term demand growth.

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Citi reiterated buy ratings for Amazon and Meta, emphasizing the potential for incremental sales during the holiday shopping season through their partnership in Social Commerce.

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Truist initiated Cintas as a buy, projecting margin upside driven by a return to normalized pricing increases and moderating input costs.

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Citi reiterated Eli Lilly as a buy, expressing optimism following the presentation of Novo's GLP-1 Wegovy data and anticipating positive developments for Lilly.

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Melius downgraded Southwest from hold to sell, criticizing the airline's strategy as ineffective and emphasizing the importance of returning to the simplicity that made it successful in the past.