Monday's Biggest Analyst Calls: NVIDIA, Apple, Super Micro, Eli Lilly, Lyft, Doordash, Disney & More

Here is a comprehensive overview of the notable Wall Street calls from Monday, each offering insights and projections on various companies:

‍

Morgan Stanley has reiterated its overweight rating for Disney and increased its price target from $110 to $135 per share. The firm anticipates significant positive impacts on Disney shares by the end of fiscal year 2024, with streaming becoming profitable and Parks growth accelerating.

‍

Piper Sandler upgraded Dutch Brothers from neutral to overweight, citing the coffee chain's favorable positioning following its recent 4Q23 results. The firm delves into various dynamics in its note, expressing confidence in Dutch Brothers' prospects.

‍

Guggenheim upgraded GSK from neutral to buy, citing upside potential for the biopharma company. The decision is based on key revenue updates and increased confidence in margin benefits, especially if the Zantac overhang is resolved.

‍

Baird upgraded Squarespace to outperform from neutral, deeming the website building company undervalued. Despite healthy execution, revenue growth, and margin expansion, Squarespace has not seen a sufficient increase in investor sentiment according to Baird.

‍

UBS upgraded Norfolk Southern from neutral to buy, expecting margin improvement for the railroad. The upgrade is grounded in the anticipation of stronger performance in Norfolk Southern's merchandise network.

‍

Goldman Sachs initiated Super Micro as neutral, recognizing the company as an "AI winner" but cautioning that the current valuation is high. The initiation includes a Neutral rating and a 12-month target price of $941.

‍

Bernstein reiterated Tesla as underperform, emphasizing that the stock remains overvalued. While acknowledging Tesla's success in offering compelling EV models, the firm believes the valuation is stretched.

‍

JPMorgan reiterated Alphabet as overweight, expressing confidence in the company despite recent challenges. The note acknowledges investor frustration but emphasizes the belief in Alphabet's growth and positioning in a Gen AI world.

‍

UBS reiterated Eli Lilly as a buy, raising the price target from $810 to $910 per share. The firm expects next-generation GLP-1s from Eli Lilly to offset competitive pressures and raise the standard of care.

‍

UBS also reiterated Nvidia as a buy, maintaining the buy rating after investor meetings with the company. The firm notes that demand exceeds supply for Nvidia's new products.

‍

Seaport upgraded FuboTV from neutral to buy, seeing an attractive risk-reward profile. The upgrade is considered suitable for investors focusing on small-caps and able to navigate nimble trading strategies.

‍

Morgan Stanley initiated Kyverna Therapeutics as overweight, citing the company's strong positioning in the emerging and competitive cell therapy space for autoimmune diseases.

‍

Baird upgraded Fleetcor Technologies from neutral to overweight, citing improving investor sentiment for the payments and spend management company.

‍

Wells Fargo upgraded UDR from equal weight to overweight, emphasizing the compelling nature of the real estate investment trust's shares.

‍

Wells Fargo reiterated Starbucks as a top pick, despite mixed sentiment and concerns about near-term earnings risk and China macro uncertainty.

‍

Morgan Stanley reiterated America Health REIT as overweight, highlighting the company's unique position in healthcare real estate with a differentiated skilled nursing operating business.

‍

RBC upgraded Lyft and DoorDash to outperform from sector perform, seeing potential benefits from a future loyalty partnership.

‍

Melius reiterated Apple as a buy, encouraging investors to take a "deep breath" despite recent share price declines.

‍

Citi downgraded Ferrari from neutral to sell based mainly on valuation concerns, despite acknowledging the quality and long-term growth prospects of the luxury carmaker.

‍

Jefferies upgraded BP from hold to buy, citing various avenues for more upside in the oil and gas giant.

‍

Barclays upgraded BRF from equal weight to overweight, anticipating "better days ahead" for the food processing company.

‍

Barclays downgraded G-III Apparel from equal weight to underweight, citing negative catalysts including lost revenue from store closures and muted interest in owned brands.

‍

Evercore ISI initiated Toast as outperform, expressing bullishness on the shares of the restaurant tech company.

‍

Bank of America upgraded Ball Corp, International Paper, and Packaging to buy from neutral, citing upward tension in fundamentals and a still-neutral consensus rating for the three companies.

‍

Rosenblatt reiterated Broadcom as a buy, raising its price target on the stock to $1,500 per share from $1,160.

‍

Argus upgraded New York Times from neutral to buy, foreseeing revenue growth for the newspaper company.

‍

Citi reiterated Snowflake as a buy, standing by the stock despite a weaker revenue outlook and CEO Slootman's departure.

‍

These calls reflect a diverse range of opinions on various companies, providing valuable insights for investors navigating the dynamic landscape of the stock market.

‍

‍