Here are Monday’s biggest calls on Wall Street:
Deutsche Bank upgrades Lam Research to buy from hold
Deutsche Bank said the semis company is best positioned.
“Despite the impressive move in shares YTD (+77%) and in the last 3 months (+31%), we believe LRCX is well positioned to outperform peers over the next twelve months given cyclical and secular tailwinds.” Read more.
Bank of America reiterates Apple as buy
The firm said iPhone 17 ship dates remain elevated.
“Our tracking of iPhone ship dates on Apple’s own website and various carrier websites indicates that as of Sep 29, ship time for the iPhone 17 (19 days) is more extended vs. last year’s iPhone 16.”
Wells Fargo upgrades Amer Sports to overweight from equal weight
Wells Fargo said investors should buy the dip in the sporting goods company.
“With AS shares down 20% this past month (vs. SPX +3%), we are taking advantage of the sell-off following diligence and expert checks in China that point to little-to-no concern both near-term and long-term over recent Arc social media backlash.”
Goldman Sachs upgrades Innoviz Technologies to buy from neutral
Goldman Sachs said the autonomous vehicle company is well positioned.
“Separately, we upgrade lidar provider Innoviz (INVZ) to Buy from Neutral, reflecting design win potential over the next 3–6 months and relative valuation.”
Jefferies initiates UP Fintech as buy
Jefferies said it is bullish on the China fintech company.
“UP Fintech is a leading integrated financial technology platform providing a cross-market, multi-product investment experience for investors around the world.”
Morgan Stanley downgrades Wells Fargo and US Bancorp to equal weight from overweight
The firm downgraded the stocks on valuation.
“We are downgrading WFC and USB to Equal Weight from Overweight, driven by valuation and our below-consensus NII [net interest income] estimates.” Read more.
Morgan Stanley upgrades Citizens Financial to overweight from equal weight
Morgan Stanley said the regional bank is “compelling.”
“As we look out to 2027, CFG’s strong 4+ percentage point ROTCE improvement story makes the stock more compelling, with multiple ways to get there.”
Bernstein reiterates Nvidia and Broadcom as outperform
Bernstein said the two stocks are a must-own.
“Own both NVDA and AVGO. AI sustainability worries have climbed as huge numbers start to draw disbelief, and NVIDIA’s ecosystem investments raise eyebrows. But demand looks off the charts; NVDA’s OpenAI deal and Hock’s new 5-year targets suggest we may still be early. We are hard-pressed to think of a better use of NVDA’s cash flow at this point. We think both stocks can and should be owned.”
Barclays reiterates Tesla as equal weight
Barclays said it is sticking with its equal-weight rating.
“Yet we believe the rally can also be put in context of Tesla as the ‘OG meme stock,’ with performance reflecting a mix of technical factors (option activity, call purchasing), retail excitement, and Mag7 catch-up.”
Morgan Stanley downgrades Novo Nordisk to underweight from equal weight
The firm said it sees too many negative catalysts for the biopharma company.
“We expect downward revisions to 2026–27 consensus from slower U.S. GLP-1 prescription growth and competitive pressure, and we see catalysts with downside risk over the next 6 months.”
Goldman Sachs reiterates Disney as buy
Goldman Sachs said it is sticking with shares of Disney.
“We believe investor sentiment is mixed. Bulls see DIS as a high-quality earnings compounder with double-digit EPS growth over the medium term, underpinned by DTC subscriber growth, operating leverage, at least 3 new cruise ships, and the return to Sports EBIT growth following a strong start to ESPN Unlimited.”
UBS initiates Core & Main as buy
UBS said investors should buy the dip in the fire protection company.
“We initiate coverage on CNM with a Buy rating and $65 price target, representing ~27% upside.”
Morgan Stanley reiterates AppLovin as overweight
Morgan Stanley raised its price target to $750 per share from $480.
“On Oct 1, APP will launch its self-serve tool for non-gaming. This is a key catalyst to grow its ad business and prove it can tap into billions of ad dollars outside the game industry.”
Barclays initiates Oklo as overweight
Barclays said shares of the nuclear company have plenty more room to run.
“OKLO is a levered way to invest in the SMR [small modular reactor] theme.”
Morgan Stanley reiterates Alibaba as overweight
Morgan Stanley raised its price target on Alibaba to $200 per share from $165.
“We raise our cloud growth estimates to 32% for FY26 and 40% for FY27, driven by increased capex, model upgrades, strategic partnerships, and accelerated international expansion.”
Deutsche Bank reiterates Intel as hold
The firm raised its price target to $30 per share from $23.
“INTC has had a busy month in the news, with multiple equity raises (USG, NVDA, etc.), collaborations (NVDA), divestitures (Altera), and macro-related impacts (tariffs and trade restrictions), all acting as event-driven catalysts for the stock.”
JPMorgan reiterates Spotify as overweight
JPMorgan said Spotify remains well positioned ahead of a possible price increase. The firm also raised its price target to $805 per share from $740.
“There is considerable investor focus on a U.S. price increase—which we believe could come by year-end or early 2026—that would drive further upside to our model.”