Here are Tuesday’s biggest calls on Wall Street:
Piper said it’s sticking with the stock ahead of earnings on Wednesday.
“We advise investors to weather the uncertainty and stay long the stock as this is likely largely the last wave of negative news for NVDA this year. Reiterate OW rating.”
UBS said the long term growth thesis is intact for the health company.
“We are upgrading our rating of LFST to Buy (50%+ upside on $8.50 PT) as we see a fundamental disconnect between underlying performance and valuation today.”
Piper said it’s bullish on shares of the AI voice company.
“We are initiating coverage of SoundHound with an OW rating and $12 price target based on 22x EV/CY26E Sales.”
Barclays downgraded the stock on valuation.
“We continue to like the role Coreweave is playing in the new GenAI world. However, after a 157% move since the IPO we see valuation at levels that could be stretched to move higher off fundamentals in the near term. As such, we downgrade to Equal Weight.”
Goldman said it sees “improved supply and structurally higher unit profitability.”
“We upgrade CMI to Buy from Neutral as we see (i) structurally higher Power Systems profitability (pricing structure beyond data center), (ii) derisked EPA 2027 expectations, and (iii) US truck demand expectations that have been significantly reduced while used sleeper inventory levels that are now down 30% yoy.”
Baird upgraded the dental equipment company on tariff relief.
“We’re also upgrading NVST today to Outperform, with our call focused more on stock factors than pure end-market fundamentals, with stable end markets/recent China tariff relief (for now) likely helping this upside become increasingly apparent next couple quarters.”
The firm said it’s standing by Apple despite concerns over an import tariff on the iPhone.
“While ‘time to market’ of a US-produced iPhone is one major impediment, our math says a 25% tariff on iPhone imports isn’t enough incentive for Apple to reshore US-bound iPhone production. This means tariff costs are likely to increase beyond the June qtr; we have largely already accounted for this
Truist said it’s bullish on the wing-themed restaurant company.
“We are upgrading our rating on WING to a Buy, from Hold, and increasing our ests. and PT to $400, from $274.
Bernstein calls the cruise company the “vanguard” of the “industry renaissance” and said the stock is a top idea in the second half.
“Add in a highly constrained supply environment, set to grow below demand, and Cruise should offer an attractive investment opportunity. Royal Caribbean is at the vanguard of this industry renaissance with the biggest ships and leading the industry on private destinations.”
Citi said the cross border payment company is well positioned.
“dLocal is a cross-border payment platform, connecting global merchants with customers from emerging economies in Africa, Asia and Latin America, through a unified platform and a single API [application programming interface].”
UBS said its survey checks showing declining interest in Tesla and EV’s.
“Survey shows declining interest in EVs and the Tesla brand around the world.”
The firm said it sees a slew of positive catalysts ahead for the energy company.
“Initiate coverage of XPRO with an Overweight rating and $12 PT.”
Jefferies upgraded Southwest on the management’s new initiatives.
“LUV’s $1.8BB of initiatives EBIT in ’25: $1BB from tactical changes of yield/inventory mgmt, new distribution channels, cuts to underperforming cities, & new intentional connections.”
The firm said it assumes the deal for Nippon to take over U.S. Steel will occur.
“We downgrade to Peer Perform in light of shrs trading near the Nippon takeout value. It seemed President Trump was set to approve the deal, which had been awaiting a final White House decision since January.”
Citi said it sees upside for Dell shares ahead of earnings this week with improved demand for Nvidia’s GB200 AI super chip which Dell uses.
“We open a ST [short term] Upside View on DELL shares on improving GB200 demand profile, showing a marked improvement.”
TD Cowen raised its price target on the stock to $540 per share from $490.
“As AI revenue is rapidly building in the Azure model, especially OpenAI’s contribution, we think this will start to put stronger upward pressure on total Azure growth. We think a return to Azure upside trends and firmer growth in the mid-30% level should help drive a stronger narrative around Azure and greater fund flows back into MSFT.”
JPMorgan said the industrial supplies company is a “turnaround story.”
“MSM has historically been among the most levered in the group to domestic IP trends given its status as industry leader in metalworking distribution.”
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