Here are Monday’s notable Wall Street calls:

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Wells Fargo Reiterates Apple as OverweightWells Fargo reaffirmed its positive stance on Apple, increasing the stock's price target from $225 to $275 per share ahead of the company's earnings report on August 1. They anticipate potential modest gains in iPhone estimates, emphasizing Apple Intelligence's capability to drive significant upgrades on an aging installed base, with potential for average selling price (ASP) increases in the upcoming quarters.

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Piper Sandler Reiterates Nvidia as OverweightPiper Sandler maintained its overweight rating on Nvidia, raising the price target from $120 to $140 per share. They are optimistic about Nvidia's setup ahead of its earnings for the July quarter and guidance for the October quarter.

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Goldman Sachs Initiates Talos Energy as BuyGoldman Sachs initiated coverage of Talos Energy with a buy rating and a 12-month price target of $14, citing the company's strong oil mix and robust free cash flow.

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Guggenheim Downgrades CrowdStrike to Neutral from BuyGuggenheim downgraded CrowdStrike to neutral from buy following a global IT outage on Friday. They cited expected resistance to new deals in the near term due to fallout from a quality assurance issue that caused significant IT system disruptions worldwide, as well as inherent risks in the fourth-quarter consensus estimates, particularly annual recurring revenue (ARR).

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Goldman Sachs Downgrades Lennar to Neutral from BuyGoldman Sachs downgraded Lennar, a homebuilder stock, to neutral from buy, primarily due to valuation concerns. They noted that considering the operating environment in the coming quarters, Lennar has less upside compared to others in their coverage.

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Goldman Sachs Initiates Webtoon as BuyGoldman Sachs initiated coverage of Webtoon Entertainment, Inc. with a buy rating and a 12-month price target of $62. They are bullish on the digital storytelling company's prospects.

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TD Cowen Initiates Berkshire Hathaway as HoldTD Cowen initiated coverage of Berkshire Hathaway with a hold rating. While they like the stock, they believe its valuation is currently full. Despite challenges in key areas, Berkshire Hathaway's insurance business continues to perform well.

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Raymond James Downgrades Estee Lauder to Market Perform from Strong BuyRaymond James downgraded Estee Lauder to market perform, expressing concerns about a slower recovery in China and travel retail, coupled with heavy competition in the U.S., which tempers their prior expectations for a significant rebound in fiscal year 2025.

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JPMorgan Upgrades Abercrombie & Fitch to Overweight from NeutralJPMorgan upgraded Abercrombie & Fitch to overweight from neutral, noting rising demand for the clothing retailer. They highlighted that with the shares down approximately 20% since the first-quarter earnings report, there is continued broad-based demand at the Abercrombie brand based on their fieldwork and management access.

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JMP Initiates nCino as Market OutperformJMP initiated coverage of nCino with a market outperform rating. They praised the fintech company for its best-in-class lending platform that scales from small consumer loans to large commercial loans, supported by positive customer checks.

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Citi Initiates Tamboran Resources as BuyCiti initiated coverage of Tamboran Resources with a buy/high-risk rating and a price target of $32 per share, showing bullishness on the natural gas company.

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Citi Adds Positive Catalyst Watch on NvidiaCiti placed a positive catalyst watch on Nvidia, citing further upside potential ahead of an annual conference where the company will present. They expect accelerating AI demand trends at the conference and view the recent pullback in Nvidia's stock due to geopolitical concerns as a buying opportunity.

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Jefferies Reiterates Amazon as BuyJefferies reiterated its buy rating on Amazon, with a favorable setup heading into the company's earnings on August 1. They emphasized the focus on high-margin Amazon Web Services (AWS) and advertising, which are expected to boost revenue and margins. They maintained a price target of $235 per share.

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Benchmark Initiates Enovix as BuyBenchmark initiated coverage of Enovix with a buy rating. They are optimistic about the battery manufacturer's position in the $12 billion smartphone lithium-ion battery market, noting its superior battery technology that provides increased energy density.

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Baird Upgrades Henry Schein to Outperform from NeutralBaird upgraded Henry Schein to outperform from neutral, noting potential upside for the dental company. They observed that dental stocks have underperformed the S&P 500 by over 20 points year-to-date, indicating that much of the negative sentiment is already priced in.

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Bernstein Downgrades American Airlines to Market Perform from OutperformBernstein downgraded American Airlines to market perform from outperform, indicating that a commercial recovery will take time. They noted several challenges currently facing the airline, making them cautious about a longer-term investment case.

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Stifel Upgrades International Flavors to Buy from HoldStifel upgraded International Flavors & Fragrances to buy from hold, citing the stock's position at a volume inflection point. They expect the company's volume inflection from the first quarter to continue, likely leading to increased guidance for 2024.

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Wells Fargo Names Burlington a Top PickWells Fargo raised its price target on Burlington Stores from $275 to $300 and named it a top pick. They highlighted Burlington's strong position within the sector.

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Morgan Stanley Upgrades Fiserv to Overweight from Equal WeightMorgan Stanley upgraded Fiserv to overweight from equal weight, viewing the financial services company as an attractive earnings compounder. They noted Fiserv's potential to consistently deliver modest upside to results, benefiting from strong management execution and long-term investor support.

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Jefferies Upgrades 10X Genomics to Buy from HoldJefferies upgraded 10X Genomics to buy from hold, expressing confidence in the biotech company's single-cell recovery. They pointed to continued utility in areas such as oncology research and superior technology compared to competitors.

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Citi Opens Negative Catalyst Watch on MicronCiti placed a negative catalyst watch on Micron, maintaining a long-term buy but expressing concern about competition from Nvidia. They expect Micron's stock to trade poorly in the next month as Samsung is expected to qualify high-bandwidth memory with Nvidia in the third quarter of 2024, leading to increased capital expenditures.

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Bank of America Upgrades C.H. Robinson to Buy from UnderperformBank of America upgraded C.H. Robinson to buy from underperform, raising the price objective from $76 to $99. They see margin upside for the trucking company.

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Oppenheimer Reiterates Coinbase as OutperformOppenheimer reiterated its outperform rating on Coinbase, identifying an attractive entry point for the cryptocurrency exchange's shares. They believe Coinbase's long-term thesis is underappreciated.

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