Bernstein reiterates Nvidia as Outperform
Bernstein said it’s standing by the stock. “NVDA (Outperform, $400.00): The datacenter opportunity is enormous.”

JPMorgan reiterates Apple as Overweight
The firm said its checks show iPhone lead times moderating. “In Week 4 of our Apple Product Availability Tracker, lead times moderated for both models relative to Week 3, with the moderation for the iPhone 18 Pro more pronounced than both last week and the prior year cycle.”

Melius upgrades Microsoft to Buy from Hold
Melius said to buy any weakness in Microsoft. “Satya Nadella and his team are increasingly going to be considered the ‘adults in charge’ — a key cog in the security, governance and the ‘AI CYA’ play that is likely in the early innings.”

Canaccord reiterates Tesla as Buy
Canaccord said it’s sticking with the stock following Tesla delivery numbers on Friday. “The deliveries were good news, the kind that steadies nerves. But, in our opinion, the stock is a bet on other things: robots; some arriving on 4 wheels, and others on hands and feet.”

Morgan Stanley reiterates SpaceX as Overweight
Morgan Stanley said the stock is getting cheaper. “Adjusted for growth, SpaceX is one of the cheaper ways to play the strong optionality of the Space and Intelligence Economy. Investors still have a few weeks to ‘catch’ the opportunity before Flight 15.”

Morgan Stanley upgrades Wells Fargo to Overweight from Equal Weight
Morgan Stanley said Wells Fargo is a new top pick. “Upgrade WFC to Overweight as normalizing balance sheet growth should ease funding pressure, stabilize NIM, and raise our conviction in the path to higher returns.” Read more.

Citizens initiates Ondas as Outperform
Citizens said the autonomous company has plenty more room to run. “We initiate coverage with a Market Outperform rating and $14 price target on Ondas Inc. (ONDS), a dynamic player in the autonomous systems category with a diversified platform spanning four high-growth submarkets...”

Bank of America upgrades DraftKings to Buy from Neutral
The firm said it sees a slew of positive catalysts ahead. “We have been on the sidelines for DKNG for the past year given a challenging event path from prediction markets (PM) and material estimate risk. Now we see 1) PMs as a win-win, 2) less cannibalization risk, 3) bottoming Street ests., and 4) a favorable risk reward with the stock down -47% in the past year.”

Barclays upgrades Estée Lauder to Overweight from Equal Weight
Barclays said the stock is attractive. “We believe Estée Lauder’s sales growth and earnings profile over the next several years make it among the most attractive companies not just within our coverage but among broader Global Consumer Staples.”