Here are Tuesday’s biggest calls on Wall Street: Goldman Sachs Reiterates Alphabet, Meta as Buy Goldman said it is maintaining its buy rating on shares of Alphabet and Meta. “We are raising our 12-month forward PT on GOOGL to $211 (from $195) and META to $522 (from $500), driven by both rising estimates and valuation multiples.” Stifel Initiates RH as Buy Stifel said the furniture company is in an “unparalleled position.” “But the performance is worth putting in context around unique headwinds — a backdrop that reinforces our confidence in an inflection point in organic growth initiatives that we believe will generate renewed enthusiasm for RH’s unmatched position of strength, which is significantly undervalued at current levels.” Jefferies Reiterates Amazon as Buy Jefferies raised its price target on the stock to $235 per share from $225. “We updated our AMZN SOTP (sum of parts) analysis, which highlights that about 3/4 of the value added comes from AWS and advertising – the two fastest-growing and highest-margin segments.” TD Cowen Reiterates Netflix as Buy TD Cowen raised its price target on the stock to $775 per share from $725 ahead of July 18 earnings. “Our Q2 2024 consumer survey shows NFLX is still the top choice for in-living room viewing, while YouTube leads on mobile. Net-net, PT at $775; reiterate Buy.” Stifel Initiates Sealed Air as Buy Stifel said it is bullish on shares of the air packaging company. “Sealed Air’s organic volumes have been largely flat since 2014 with weak volumes in 2022/23 (12% overall) due to the reversal of pandemic-related volume growth in 2021 and destocking in 2023, erasing modest growth in prior years. However, we believe the trend is turning.” Piper Sandler upgrades Bank of America to Neutral from Underweight Piper upgraded the stock ahead of the July 16 earnings call. “We are upgrading our rating on BAC to Neutral from UW as we refresh our thinking and preferences on the large banks ahead of earnings, which begin this Friday.” Bank of America reiterates Apple as Buy Bank of America said its checks show App Store revenue is growing for Apple. “According to SensorTower data, App Store revenue in F3Q (full quarter) increased to $7.5 billion (+13% YoY, according to SensorTower developer revenue data), with total downloads.” KeyBanc Reiterates Nvidia as Overweight KeyBanc said it is sticking to its Overweight rating on Nvidia shares. “We are increasing our estimates and raising our price target to $180 from $130, based on 35 times our FY26 EPS estimate of $5.16.” UBS Upgrades Chemours to Buy from Neutral UBS said in its Chemours upgrade that it sees outperformance potential for the chemicals company. “A low valuation and bottoming estimates lead to an attractive setup.” Raymond James Upgrades Principal Financial Group to Strong Buy from Market Perform Raymond James said the financial services company is a “high quality” business. “We upgrade PFG from Market Perform to Strong Buy. Our price target is $99, implying 27% upside potential. We like the company’s high-quality business and see opportunities to accelerate revenue and cash flow generation.” Jefferies initiates First Citizens as a Buy Jefferies said it is bullish on shares of the regional bank. “We initiate First Citizens BancShares with a Buy rating and a $2,005 PT.” TD Cowen initiates Exscientia as a Buy TD Cowen said the biotech company has a “novel AI platform.” “EXAI’s novel AI platform and pipeline of next-generation oncology assets address specific gaps in first-generation drugs.” Morgan Stanley initiates Tempus AI as an Overweight Morgan Stanley said the testing lab company has a differentiated platform. “Tempus AI is a unique platform company that sits at the intersection of healthcare and data/AI.” Wolfe rates Monday.com as an Outperform Wolfe said he is bullish on shares of the workflow solutions software company. “As the growth narrative becomes increasingly rare in SaaS, you need a product cycle, the ability to take price and enter new buying centers, and do all of that while having strong incremental margins. MNDY has all of that.” TD Cowen rates Markel as a Buy TD Cowen said he is bullish on shares of the insurance company. “MKL’s specialty (re)insurance business is poised for growth and is fueling capital into its investment and venture capital ‘engines’ that provide diversified revenue to the company.” Mizuho Upgrades Regency to Outperform from Neutral Mizuho said the real estate investment trust shopping center company has “earnings upside potential.” “Among our coverages, we see the greatest FY24 earnings upside potential in BRX and REG, and we upgrade REG to Outperform here.” Raymond James Initiates First Bancorp With Outperform Rating Raymond James said it is bullish on the Puerto Rican bank. “We initiate coverage on First Bancorp (FBP) with an Outperform rating and a $21 price target. We believe FBP is well positioned to reap the benefits of Puerto Rico’s economic recovery, which has been driven by significant fiscal stimulus that is expected to continue through 2035.” Bank of America Initiates Buy on Smurfit WestRock Bank of America said it is bullish on shares of the packaging company. “We initiate coverage on Smurfit WestRock with a BUY recommendation, $56 price target. Morgan Stanley upgrades CRH to Overweight from Equal Weight Morgan Stanley said in its upgrade of CRH that it is becoming bullish on shares of the building materials company. “We are moving to Overweight given 1) price stickiness, which supports estimates 4-5% ahead of consensus, 2) growth upside from M&A, and 3) updated exposure to attractive verticals after a 14% EBITDA depreciation.” JPMorgan upgrades CH Robinson to Neutral from Underweight JPMorgan upgraded the logistics company after the results. “We placed CHRW on our list of more attractive stocks after the 1Q24 results – something had clearly changed with the new ‘operating model’ in a company that struggled for consistency.” Morgan Stanley Reiterates Tesla as Overweight Morgan Stanley said it is sticking to its overweight rating on Tesla shares. “Tesla’s share of the global BEV (battery electric vehicle) market as of May 2024 is 15%, up from 12% last month and 16% on a YTD basis.” Benchmark Initiates Jumia Technologies as Buy Benchmark said it is bullish on shares of the pan-African marketplace technology company. “We initiate coverage on JMIA with a Buy rating and a $14 PT.” Correction: An earlier version of this article incorrectly stated the date on which Bank of America is scheduled to report its next earnings.