Here are Monday’s biggest calls on Wall Street: Morgan Stanley names Tesla a top pick Morgan Stanley said the auto company is best positioned for artificial intelligence. “We reinstate Tesla as our ‘Top Pick’ in US Autos with > 50% upside to our $430 price target.” Bank of America reiterates Nvidia as buy The firm said the stock remains very attractive. ” NVDA remains compellingly valued…” Morgan Stanley initiates SanDisk as overweight Morgan Stanley said the computer flash memory company is attractive right now. “Despite uncertainty, this is one of the best risk/ rewards in our coverage.” Morgan Stanley upgrades Chipotle to overweight from equal weight Morgan Stanley said the company has an “enviable balance sheet.” “A quality large cap growth compounder seeing some slowing with the stock flat to 12 months ago – what’s not to like? We’ve always appreciated CMG’s strengths and think many are set to continue. An entry point has presented itself, in our view.” JPMorgan downgrades Southwest to underweight from neutral JPMorgan downgraded the stock mainly on valuation. “Our forecast for Southwest hasn’t changed, but given the combination of its surging valuation premium and our desire to rebalance our ratings following the addition of Sun Country, we are reducing our Neutral rating to Underweight, with no change to our $25 YE25 equity price target.” Barclays upgrades Kinder Morgan to overweight from neutral The firm said the energy infrastructure company’s shares are “compelling.” “We think KMI stands at the nexus of multiple structural tailwinds, benefiting its core infrastructure assets across natural gas and liquids products, and find its current valuation compelling.” Bank of America upgrades BeiGene to buy from neutral Bank of America said the biotech company has a robust pipeline. “We upgrade Beigene from Neutral to Buy with a new PO of US$320.0/HK$193.23 (previously US$207.0/HK$125) in light of the company augmenting its international products sales and extensive pipeline assets.” Baird downgrades Deere to neutral from outperform Baird downgraded Deere mainly on valuation. “But with the stock near all-time highs and valuation rightfully near all-time highs reflecting both sizable cyclical demand compression and excellent trough margin execution, further upside will increasingly be reliant on more meaningful cyclical reacceleration.” JPMorgan upgrades Mosaic to overweight from neutral JPMorgan said in its upgrade of the chemical mining company that the “direction of prices for its key fertilizers is higher.” “We think that there is an opportunity in Mosaic shares and upgrade them to Overweight for year-ahead performance.” Deutsche Bank upgrades Anheuser-Busch InBev to buy from hold The firm said “big beer is back.” “We believe ABI is steadily building a track record of strong delivery, despite prior exogenous challenges, that should command a higher multiple.” Morgan Stanley initiates Aurora Innovation as overweight Morgan Stanley said the autonomous software company is extremely well positioned. “We are initiating coverage of AUR at OW with a base-case valuation range of $7- $17, and a price target of $12.” Goldman Sachs adds Deere to the conviction list The firm said it sees a slew of attractive catalysts ahead for the ag company. “For DE, Jerry Revich is looking for a positive inflection in earnings as the company approaches a cyclical trough for ag equipment inventory, plus the realization of benefits from the roll-out of a nascent subscription business.” Morgan Stanley names Wingstop a top pick The firm said it sees an attractive risk/reward for the restaurant company. “We are moving OW-rated WING to our Top Pick today.” Bank of America upgrades Thor Industries to buy from neutral Bank of America said it sees a slew of catalysts ahead for the RV company. “We rate THO Buy given an outlook for market share recapture including at its largest customer, while we see signs of green shoots for the overall RV industry.” Deutsche Bank downgrades Dollar General to hold from buy Deutsche Bank said in its downgrade of the stock that it sees “limited visibility for improvement.” “We are downgrading shares of DG to Hold from Buy based on still challenging fundamentals and intensifying competition.” Wedbush reiterates Apple as outperform The firm said it is bullish on Apple’s partnership with Alibaba and what it means for China. “This Alibaba partnership is key to the long awaited growth catalyst in this region with our estimates that over 100 million of the roughly 200 million iPhones in China are in the window of an upgrade opportunity.” Morgan Stanley upgrades Melco Resorts & Entertainment to overweight from equal weight Morgan Stanley said the Asia and Europe casino company is well positioned for share gains. “We think consensus revisions may have bottomed for MLCO. “
