Tuesday’s Biggest Analyst Calls: NVIDIA, Arm, Tesla, Rivian, Netflix, Micron, Roku, Seagate & More

Here are the notable Wall Street calls for Tuesday:

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1. Morgan Stanley reiterates Rivian as overweight

Morgan Stanley maintained its overweight rating for Rivian but reduced the price target from $24 to $14 per share. Despite acknowledging the high risks, the analysts believe in the potential strategic value to a hypothetical partner, advocating an "OW" stance.

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2. Citi reiterates Snowflake as a top pick

Citi reaffirmed Snowflake as a top pick, expressing optimism about the 2024 setups for ESTC and SNOW. The positive outlook is based on anticipated easing cloud optimization tailwinds and GenAI product cycles.

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3. Berenberg reiterates Eli Lilly as a buy

Berenberg upgraded its price target for Eli Lilly from $780 to $850 per share. Despite the stock's strong start to the year, the firm maintains Eli Lilly as its top pick in the US pharma sector.

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4. Morgan Stanley downgrades Unilever to underweight from equal weight

Morgan Stanley downgraded Unilever due to concerns about missing growth targets. The analysts believe that Unilever's re-rating is overdone, especially considering weaker cash conversion and higher emerging market exposure relative to peers.

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5. Benchmark initiates MicroStrategy as buy

Benchmark initiated coverage of MicroStrategy with a buy rating and a price target of $990. The analysts based their assessment on a sum-of-the-parts analysis, combining the estimated value of the company's bitcoin holdings and its business intelligence software business by the end of 2025.

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6. Morgan Stanley initiates Fractyl Health as overweight

Morgan Stanley initiated coverage of Fractyl Health as overweight, emphasizing the biotech company's novel approaches to treating metabolic diseases.

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7. Edward Jones initiates Goldman Sachs as buy

Edward Jones initiated coverage of Goldman Sachs as a buy, emphasizing the investment banking giant's premier investment-banking franchise and positioning to benefit from a favorable environment for capital markets activities.

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8. Piper Sandler upgrades Unity to neutral from underweight

Piper Sandler upgraded Unity to neutral from underweight, citing a more balanced risk-reward profile for the software company as the multiple has compressed and the model appears conservatively reset.

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9. Piper Sandler names Datadog a top pick

Piper Sandler named Datadog a top pick, reiterating an overweight rating. The analysts consider Datadog the most compelling way to play trends around receding cloud optimizations and GenAI.

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10. Citi opens a positive catalyst watch on American Eagle

Citi opened a positive catalyst watch on American Eagle, citing the company's well-positioned status leading up to the upcoming investor day.

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11. Janney downgrades Sunrun to neutral from buy

Janney downgraded Sunrun to neutral from buy, citing uncertainties in the residential solar sector. The Fair Value Estimate was lowered to $13.00 from $20.00.

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12. Citi reiterates Micron as buy

Citi reiterated its buy rating on Micron, stating that concerns about the stock's underperformance are overdone. The analysts suggest investors buy the dip in Micron, maintaining a price target of $95.00.

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13. UBS reiterates Netflix as buy

UBS raised its price target on Netflix to $685 per share from $570, anticipating continued subscriber growth and conversion to paid subscriptions.

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14. Argus upgrades Domino's Pizza to buy from hold

Argus upgraded Domino's Pizza from hold to buy, reflecting the company's economies of scale, early entry into the pizza delivery business, and prospects for growth in international and domestic markets.

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15. Citi downgrades Sunoco to neutral from buy

Citi downgraded Sunoco to neutral from buy, primarily based on valuation concerns following recent outperformance since the NuStar (NS) deal announcement.

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16. Wells Fargo upgrades Kroger to equal weight from underweight

Wells Fargo upgraded Kroger to equal weight from underweight, suggesting that industry headwinds are near a bottom, providing a more balanced risk-reward.

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17. Wells Fargo downgrades Roku to underweight from equal weight

Wells Fargo downgraded Roku to underweight, citing increased risk related to Walmart's deal for Vizio.

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18. Deutsche Bank upgrades Brightspring Health to buy from neutral

Deutsche Bank upgraded Brightspring Health to buy from neutral, noting a compelling entry point and anticipating an acceleration in earnings over 2025/2026.

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19. Seaport initiates Duolingo as buy

Seaport initiated coverage of Duolingo with a buy rating, considering the language learning company a category leader with a $222 price target.

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20. New Street downgrades Arm to neutral from buy

New Street downgraded Arm to neutral, citing an unattractive risk-reward outlook for the shares at the moment.

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21. Bank of America initiates Magnolia Oil & Gas as buy

Bank of America initiated Magnolia Oil & Gas as a buy, highlighting its differentiated strategy prioritizing capital discipline and cash returns.

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22. Bernstein reiterates Alphabet as market perform

Bernstein reiterated Alphabet as market perform, suggesting that the risks to search are more severe outside of Gen AI, particularly in vertical and social search.

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23. Bank of America reiterates NXP Semiconductors as buy

Bank of America reiterates NXP Semiconductors as a buy, raising the price target to $300 based on its top pick status in diversified semis analysis.

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24. Citi reiterates Nvidia as a top pick

Citi reiterated Nvidia as a top pick, expressing a continued preference for Nvidia, AMD, and AVGO in the semiconductor space.

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25. Evercore ISI initiates Seagate as outperform

Evercore ISI initiated Seagate as outperform, emphasizing the hard disk data storage company's favorable positioning in the cyclical recovery and margin expansion with HAMR technology.

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26. Bank of America upgrades Sprouts to buy from underperform

Bank of America double upgraded Sprouts to buy from underperform, raising the price target to $70 per share. The upgrade reflects optimism about Sprouts' solid U.S. same-store growth.

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27. JPMorgan downgrades Domino’s to neutral from overweight

JPMorgan downgraded Domino's to neutral from overweight, stating that most catalysts are priced in, and it's time to move on, despite near-term momentum remaining.

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28. DA Davidson downgrades Comerica to neutral from buy

DA Davidson downgraded Comerica to neutral from buy, expressing doubts about Comerica's ability to outperform in a higher-for-longer rate environment, lowering the price target to $56.

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These calls represent the latest recommendations and assessments from various Wall Street analysts regarding the mentioned companies.

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