Here are the biggest calls on Wall Street Monday: Morgan Stanley Reiterates Netflix as Overweight Morgan Stanley raised its price target on Netflix to $780 a share from $700 ahead of its earnings call on Thursday. “We expect Netflix to continue to perform well in the second half of 2024, and are raising our estimates and PT to $780.” Morgan Stanley Reiterates Apple as Overweight Morgan Stanley raised its price target on the iPhone maker to $273 a share from $216. The bank also said it was a new top pick over Dell. “Apple is now our top pick.” Morgan Stanley Downgrades BP to Equal Weight from Overweight Morgan Stanley downgraded the oil major due to “weak earnings.” “BP’s disappointing trading update follows several quarters of weak earnings, putting 2025 guidance at risk. We are downgrading our rating to Equal Weight.” TD Cowen Reiterates Nvidia as Buy TD Cowen raised its price target on the dominant maker of artificial intelligence processors to $165 per share from $140. “Overall, we see a product roadmap that indicates a relentless pace of innovation across all aspects of the AI compute stack and reiterate Nvidia as a top pick, PT at $165.” TD Cowen Reiterates Advanced Micro Devices as Buy TD Cowen raised its price target on AMD from $200 to $210 per share. “Over the past 9 months, sentiment has shifted much more (both up and down) than fundamentals at AMD, as data center upside has so far been masked by declines in other segments.” Citi Downgrades Electronic Arts to Neutral from 2024 Citi downgraded the video game maker primarily due to its valuation. “Since Q4 FY24 results, EA shares have risen about 15% on optimism surrounding the upcoming release of College Football.” BMO upgrades Teck Resources from Market Perform to Outperform BMO said in its upgrade of the copper and zinc miner that it sees a cleaner investment story. “We see surprise opportunities in potential future M&A. We have seen many Canadian investors speculate on future acquisitions by Teck and some U.S. investors view Teck as an acquisition candidate.” Baird upgrades Carrier from Neutral to Outperform Baird sees multiple catalysts ahead for the air conditioning company. “We also upgrade CARR to Outperform as we see multiple catalysts that could play out over the next 12-18 months (asset sales, buybacks, reacceleration of residential trends) and see multiple expansion potential over the longer term.” » JPMorgan Upgrades Solid Biosciences to Overweight from Neutral JPMorgan said in its upgrade of Solid Biosciences that the life sciences company has a strong pipeline. “Upgrade to Overweight; pipeline progress should close the gap on the current valuation disconnect.” Truist Upgrades Zeta Global to Buy Truist said the marketing technology company is “unique.” “We believe Zeta represents a potential disruptive force in the large and growing (marketing technology) space, serving businesses with a unique combination of data, artificial intelligence, marketing cloud and activation capabilities.” Baird Upgrades Rubrik to Outperform Baird is bullish on shares of the cybersecurity company. “We initiate with an Outperform rating and a $42 price target. Rubrik stands out as a leading data security provider, seamlessly integrating backup and security amid surging data and cyber threats.” Citi downgrades Bank of New York Mellon to ‘neutral’ from ‘buy’ Citi downgraded Bank of New York Mellon after the results and a record close, citing valuation primarily. “Management has made great progress toward its medium-term goals, and we view the stock as fairly valued at 2.5x (tangible book value) and are therefore downgrading our rating to “neutral.” Loop Capital upgrades Apple to “buy” from “hold” Loop says Apple can be a “Gen AI base camp” for years to come. “We are upgrading our rating to Buy and $300 PT as the work of Loop Capital supply chain analyst John Donovan suggests that AAPL has the opportunity (over the) next few years to cement itself as the “base camp” of choice for Gen AI consumers, much as it did for social media 15 years ago and digital content consumption 20 years ago.” Morgan Stanley upgrades Alcon’s rating from underweight to equal weight Morgan Stanley has upgraded its rating toweighting of the eye care company, saying that “there is no doubt that ALC has found other factors that have more than offset the risk(s).” “ALC moves to equal weight as the positives offset weakness in the U.S. IOL (intraocular lens) business.” Evercore ISI initiates tactical underperform on Amazon Evercore ISI said it likes the stock but the earnings bar may be too high. “With respect to our tactical underperform call on AMZN, here’s the nuance. We continue to like AMZN as a long with a $225 PT. But the 28% YTD share price outperformance raises the bar for Q2 EPS results.” Wells Fargo reiterates Tesla as an underperformer Wells Fargo says Tesla’s fundamentals remain too “weak.” “We maintain our UW on TSLA. While the stock is up ~40% (S&P +4%) over the past month, primarily due to ‘bright’ headlines, most fundamentals remain weak. We are raising our Q2 EPS on Shipments and Energy, but lowering our FY24E on Tariffs and Pricing.” Morgan Stanley Reiterates Microsoft as Overweight Morgan Stanley said it has “increased clarity” on AI monetization. “Our CIO survey results highlight Microsoft’s position as the top beneficiary of GenAI, but investor debate over the magnitude of capital investment versus the scale and timing of the GenAI revenue opportunity has increased.” Susquehanna Downgrades Caesars to Neutral from Negative Susquehanna says the impact of “underinvestment” is now evident in Caesars shares. “We downgraded our CZR rating to negative as we believe it has ‘over-delivered’ its properties over the past three years, leading to an asset base that is below competition in (Las Vegas) (vs. MGM) and regionally (vs. PENN) with no meaningful digital outlook to offset.” Bank of America reiterates Amazon as a buy Bank of America said it was bullish on Amazon heading into Prime Day on Tuesday. “We estimate Prime Day could generate $13 billion (in gross merchandise value).” Evercore ISI pitches Datadog to outperform Evercore ISI said it was bullish on the cloud-scale applications company. “After treading water for two years, we believe DDOG has matured to a point (and grown in valuation) so that it can become a more cohesive compounder over the next 12 to 24 months.” Citi Names KLA Corporation a Top Pick Citi raised its price target on the semiconductor equipment maker to $980 from $760. “We are raising our TP on KLAC to $980, rated Buy, to reflect the outsized exposure to peak WFE spending, which is expected to grow 20-25% in 2025, and management’s confidence in the 2026 target model.” Morgan Stanley Downgrades Rocket Lab to Equal Weight from Overweight Morgan Stanley said it sees a “limited catalyst path” for the space company. “We are downgrading Rocket Lab (RKLB) to EW from OW and lowering our TP to $6 from $8, as we see a more limited catalyst path and become more cautious on (Defense Department) space spending.”