Monday’s Biggest Analyst Calls: NVIDIA, Apple, Tesla, Spotify Walmart, Nio, Broadcom Roblox & More

Here are Monday's top calls on Wall Street:

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Cantor Fitzgerald Reaffirms Overweight Ratings on Nvidia and Broadcom
Cantor Fitzgerald continues to view Nvidia (NVDA) and Broadcom (AVGO) as strong investment opportunities. Both companies remain among the firm’s top recommendations, along with Micron (MU), Marvell (MRVL), and Western Digital (WDC).

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JPMorgan Reaffirms Apple as Overweight
JPMorgan is maintaining its overweight rating on Apple (AAPL) ahead of the tech giant’s earnings report later this week. The firm expects Apple to post better-than-expected results for its fiscal fourth quarter (Sep-Q) but anticipates softer guidance for the first quarter of fiscal 2025 (Dec-Q). However, Apple has a history of exceeding its own guidance, which could make the stock more appealing as it approaches the earnings release.

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Morgan Stanley Initiates Overweight on FrontView REIT
Morgan Stanley began coverage of FrontView REIT (FVR) with an overweight rating, noting that the commercial real estate investment trust focuses on outparcel properties with significant frontage, giving it a distinct advantage in the market.

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Morgan Stanley Downgrades Global Foundries to Equal Weight
Morgan Stanley downgraded Global Foundries (GFS) from overweight to equal weight, citing increasing competition in the semiconductor sector. While the company remains in a strategic position, the firm expressed concerns about the slow recovery in the semiconductor market and the tougher competitive environment.

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Baird Upgrades Aaon to Outperform
Baird upgraded Aaon (AAON) from neutral to outperform, highlighting the commercial HVAC company's substantial liquid cooling orders, including a $175 million order from a data center client. These custom-designed thermal management systems are expected to play a pivotal role in the data center's liquid cooling deployment.

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Canaccord Raises Tesla Price Target
Canaccord reiterated its buy rating on Tesla (TSLA) and raised its price target to $298 from $278. The firm believes Tesla is poised to outperform, driven by accelerating financial trends, potential for growth outpacing its peers in 2025, and a favorable technical outlook. Even without new product launches in the first half of 2025, Tesla remains a promising near- to medium-term product cycle story.

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Jefferies Initiates Buy Rating on Core Scientific
Jefferies initiated coverage on Core Scientific (CORZ) with a buy rating, praising the bitcoin mining company’s successful turnaround following bankruptcy. Core Scientific is now leveraging its significant power access to build AI-focused data centers.

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Morgan Stanley Upgrades Nutanix to Overweight
Morgan Stanley upgraded Nutanix (NTNX) to overweight from equal weight. The cloud computing software company is positioned to gain market share, especially with upcoming renewals from VMware (VMW) customers, and partnerships with Dell and Cisco, which serve as catalysts for future growth.

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Wells Fargo Names Spotify a Top Pick
Wells Fargo named Spotify (SPOT) one of its top picks, pointing to potential margin expansion. The firm believes Spotify’s strategy and evolving industry dynamics will drive further growth, supporting the music streamer’s ability to beat consensus estimates.

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Raymond James Downgrades Frontier
Raymond James issued a downgrade on Frontier, though specific details were not included in this call.

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Wolfe Research Upgrades Dover to Outperform
Wolfe Research upgraded Dover (DOV) to outperform, citing several positive catalysts after the company’s strong third-quarter results. The firm believes Dover is positioned for better growth visibility in 2025.

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Wolfe Research Downgrades Honeywell
Wolfe Research downgraded Honeywell (HON) to peer perform from outperform, noting ongoing challenges for the industrial conglomerate. The firm expressed concerns about the headwinds Honeywell has faced over the past two years, warning of another potential wave of negative earnings revisions in the first half of 2025.

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Morgan Stanley Downgrades Ciena to Equal Weight
Ciena (CIEN) was downgraded by Morgan Stanley from overweight to equal weight, with the firm stating that the company is well-positioned for AI growth. However, Ciena’s near-term upside may be limited due to a re-rating, even though long-term prospects remain promising.

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Piper Sandler Initiates Neutral on Bowlero
Piper Sandler initiated coverage on Bowlero (BOWL) with a neutral rating. While the bowling company has strong fundamentals, the firm sees the risk/reward balance as relatively even at current levels, particularly given its leveraged balance sheet and the broader U.S. consumer outlook.

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Goldman Sachs Reiterates Walmart as Buy
Goldman Sachs maintained its buy rating on Walmart (WMT), highlighting the company’s solid earnings growth potential for the rest of the year. Walmart's market share gains, driven by its strong value and convenience proposition, should bolster profitability as its alternative revenue businesses continue to scale.

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Bank of America Initiates Buy on Antero Resources
Bank of America initiated coverage on Antero Resources (AR) with a buy rating. The firm is bullish on the hydrocarbon exploration company, which is one of the largest producers in Appalachia, focusing on the liquids-rich Marcellus and Utica formations.

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Macquarie Upgrades Nio to Outperform
Macquarie upgraded Nio (NIO) to outperform from neutral, expecting significant growth in the fourth quarter as the Chinese electric vehicle maker recently launched mass-market models, ONVO L60 and MONA M03. The firm expects these launches to drive higher volumes.

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Bernstein Initiates Outperform on StandardAero
Bernstein initiated coverage on StandardAero (SARO) with an outperform rating, citing the company’s potential to benefit from a robust commercial aerospace aftermarket, which has lifted other industry players' shares.

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Wedbush Adds Roblox to Best Ideas List
Wedbush added Roblox (RBLX) to its Best Ideas List, expecting the company's revenue growth to surpass industry peers over the next three years. The firm sees traffic growth, advertising revenue expansion, and the introduction of recurring revenues as key drivers.

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Stifel Downgrades Colgate-Palmolive to Hold
Stifel downgraded Colgate-Palmolive (CL) to hold from buy, lowering the price target slightly to $101. The firm cited challenging comps and unchanged estimates for 2024 to 2026.

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Oppenheimer Reaffirms Shake Shack as Outperform
Oppenheimer elevated Shake Shack (SHAK) to one of its top picks in the restaurant sector. Despite a 97% stock increase over the last 12 months, Oppenheimer believes Shake Shack’s valuation remains attractive compared to its growth peers.

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Monness Crespi Hardt Initiates Buy on Coinbase
Monness Crespi Hardt initiated coverage on Coinbase (COIN) with a buy rating and a $245 price target. The firm believes Coinbase is well-positioned as a long-term winner in the cryptocurrency exchange and services space, supported by its first-mover advantage and superior technology.

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Stifel Reaffirms Amazon as Buy
Stifel maintained its buy rating on Amazon (AMZN), stating that the stock remains a top pick ahead of its earnings report. The firm is optimistic about Amazon’s North American margins, AWS growth, and continued momentum in its advertising business.

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