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Here are Monday’s biggest calls on Wall Street: Bank of America reiterates Tesla as neutral Bank of America said it sees a challenging setup for Tesla shares. ” Tesla 2Q earnings results are likely to be challenged due to tariffs and disappointing deliveries. Although Tesla produces all its vehicles in the US and it manufactures vehicle with a high proportion of content made in North America, the exposure to tariff is not insignificant.” Morgan Stanley reiterates Apple as overweight Morgan Stanley said it’s sticking with Apple shares. “Our estimates are moving higher, but we still need key overhangs to dissipate before getting more structurally bullish.” Morgan Stanley upgrades Pinterest to overweight from equal weight Morgan Stanley said the stock is well positioned. “We have been monitoring PINS’s GPU [graphic processing unit] enabled investments and budding engagement and monetization improvements for multiple quarters. Heading into 2H, we are turning positive as we think the benefits of these investments are set to drive under-appreciated acceleration and earnings power.” Wells Fargo reiterates Amazon, Alphabet and Expedia as equal weight Wells Fargo said all three stocks are the “best tactical longs” ahead of earnings. “See investors positioned much more aggressively in the SMidCaps and higher beta names, in stark contrast to last quarter where ‘defense’ was the mantra. Expect high volatility given positioning. See AMZN , GOOG and EXPE as best tactical longs.” TD Cowen upgrades Invesco to buy from hold TD Cowen said it sees a slew of positive catalysts for Invesco shares. “Further buyback announcements & capital return. Further platform scaling. Progress towards fee rate stability.” Read more. RBC initiates QXO as outperform RBC said shares of the building products company have more room to run. ” QXO is unique not just in its ambition to significantly consolidate (and innovate) building products distribution, but that its mandate to do so leaves it unbound and unconstrained by conventional norms faced by competitors.” TD Cowen upgrades CSX to buy from hold The firm upgraded the stock as rail consolidation looks likely. “We upgrade shares of NSC & CSX to Buy as likelihood of rail consolidation moves up considerably.” Morgan Stanley reiterates Nvidia as overweight The firm said the stock remains a top idea. “US AI companies NVIDIA , AMD, and Broadcom are likely to receive licenses to ship to China at levels consistent with the prior threshold. We would keep near-term expectations in check, as outlined below, but it’s a significant positive for 2026 for all AI stocks, including our Top Pick NVDA.” Jefferies initiates AvePoint as buy Jefferies said the software company is well positioned for the “AI wave.” “AVPT has impressively cemented itself as a data protection platform for the changing enterprise data estate.” Morgan Stanley reiterates Meta as overweight Morgan Stanley raised its price target on the stock to $750 per share from $650. ” META’s core growth algorithm of continuously improving GPU enabled machine learning driving higher engagement and monetization seems intact and is likely to continue to drive faster (accelerating) top-line growth.” Barclays downgrades Target to underweight from equal weight Barclays said the company needs a strategic shift. “We lowered our rating on TGT to UW from EW. This is a current state underweight; we see value in the TGT model, but absent a bigger strategic shift, we believe sales will continue to underperform.” Barclays upgrades Dollar Tree to overweight from equal weight Barclays said it sees “strong momentum” for Dollar Tree. “We see upside to earnings and valuation.” Benchmark initiates General Motors as buy Benchmark said the automaker has “underappreciated upside potential.” “We believe General Motors (GM) presents a compelling opportunity for investors seeking exposure to a durable, cash-generative U.S. industrial franchise with underappreciated upside potential.” Oppenheimer initiates Affirm as outperform “We initiate coverage of Affirm with an Outperform rating and $80 price target, offering 15% upside potential.” Wells Fargo reiterates Citi as overweight Wells said the stock is the “dominant” number one pick. “After listening again to Citi’s 2Q25 earnings call, we have more confidence that Citi meets the criteria of many generalist PMs [portfolio manager] of a company not only w/ line-of-sight restructuring benefits but also favorable revenue growth.” Wells Fargo reiterates Arm as overweight Wells raised its price target on the stock to $175 per share from $145. “While we remain positive on Arm’s LT positioning to benefit from emerging AI oppys & raise our PT to $175, we are cautious into F1Q26 EPS given recent outperf.” Oppenheimer initiates Affirm as outperform Oppenheimer said it’s bullish on the fintech company. “We initiate coverage of Affirm (AFRM) with an Outperform rating and $80 price target, offering 15% upside potential.” Leerink downgrades Sarepta to market perform from market outperform Leerink said it’s concerned about issues with the company’s gene therapy drug, Elevidys. “We are downgrading Sarepta (SRPT) to Market Perform (from Outperform) as we have significant concerns with management’s credibility, and it is plausible that Elevidys may be entirely removed from the market.” JPMorgan reiterates Carvana as overweight JPMorgan raised its price target on Carvana to $350 per share from $325. “Accelerating Share Gains Supports Forward Revisions, Though See Elevated Near-Term EBITDA Bar.” Northland initiates ThredUp as outperform Northland said shares of the used clothing marketplace are compelling. ” TDUP, a digital resale marketplace curated with brands from Vuori to Versace, is at a compelling inflection point.”
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