Here are the biggest analyst calls on Wall Street on Monday: Bernstein upgrades Boeing to outperform from market perform Bernstein says the aerospace company is in the middle of a turnaround. “We upgrade Boeing to Outperform. Boeing is now making the progress it needed for the growth trajectory we expected before the Alaska door plug accident in January 2024.” Bank of American reiterates Meta as buy The bank says it’s sticking with Meta ahead of its March quarter earnings on Wednesday. “Given constructive checks and modest 4pt deceleration in YouTube growth, we think the high end of Meta’s 1Q rev. guide is achievable.” HSBC downgrades Eli Lilly to reduce from buy HSBC sees a negative risk/reward. “Downgrade Lilly to Reduce (from Buy) as risk-reward is not attractive.” Jefferies reiterates Microsoft as buy Jefferies is bullish on the XBox and Windows parent ahead of earnings later this week. “We are bullish on MSFT’s LT consolidation story to grow share in an uneasy macro and highlight attractive valuation at 24x CY26E EPS.” Bank of America reiterates Amazon as buy The bank is sticking with Amazon despite concerns ahead of earnings later this week. “We acknowledge 2Q & 2H revenue uncertainty (retail, ads and Cloud), but remain confident on Amazon’s ability to take share in eCommerce, improve retail margins via headcount cuts, & benefit from Cloud AI demand.” Morgan Stanley reiterates Apple as buy Morgan Stanley raised its 12-month price target on the iPhone maker to $235 per share from $220 ahead of Apple ‘s earnings due on May 1. “We believe it’s unlikely many of these key debates are addressed at earnings, and therefore don’t see the print as a key catalyst for the stock, with shares likely to remain range-bound near term – $170 remains the floor on the stock, while our new $235 price target is the ceiling.” Morgan Stanley upgrades SAIA to equal weight from underweight The Wall Street bank upgraded the trucking company mainly on valuation after it plunged 31% Friday. “We upgrade SAIA from UW to EW but cut our PT from $275 to $250.” Citigroup opens a positive catalyst watch on Nio Citi added a positive catalyst watch on Nio and said the China EV company will see new model launches earlier than expected. “After recent orders recovery, we launch 30-Days positive catalysts watch on the stock backed by three elements with: (1) New model launches; (2) New [Advanced Driver Assistance System], New chips; and (3) Cost saving.” UBS reiterates Nvidia as buy UBS says AI chipmaker’s “controversy” remains high but it’s sticking with Nvidia. “Controversy remains high for AI stocks like NVDA (though all major hyperscalers have reiterated capex plans) – particularly around FQ2:26 (July) guidance (about half of investors now believe NVDA will guide down Q/Q – we do not share this view) as well as AI Diffusion – currently set to go into effect on 5/15 barring changes by the Trump Administration.” Stifel upgrades Jack in the Box to buy from hold Stifel says it likes the fast food company’s new CEO. “Additionally, investor[s] can focus on a single, super-regional brand, JIB , which is highly franchised with significant … growth potential. The chain will also have closed 200 underperforming units, which have been a drag on franchisee profits, thereby putting it in a stronger competitive position.” JPMorgan initiates SmartStop Self Storage as overweight JPMorgan says the real estate investment trust storage operator has growth potential. “We are initiating coverage of SmartStop Self Storage (SMA) with an Overweight rating and a $36 YE 2025 price target.” Piper Sandler upgrades Aon to overweight from neutral Piper upgraded the insurance brokerage on valuation. “We are upgrading Aon following a disappointing quarter that drove shares down further than we think was warranted.” UBS upgrades Evergy to buy from neutral UBS sees an attractive entry point for the electric utility. “We are upgrading shares of Evergy to Buy and raising our price target to $78.” Compass Point double downgrades Coinbase to sell from buy The researcher is concerned about slowing growth. “We are transferring coverage of Coinbase (COIN) and downgrading the stock to Sell (previously Buy). We are cautious heading into 1Q results on 5/8. We are also concerned about 2H25 performance as growth comes from lower margin institutional segments.” Citi upgrades On Holdings to buy from neutral Citi says the Zurich-based shoe company can navigate tariffs. “As the fastest growing brand within athletic/softlines with very strong brand heat (and a Swiss brand, not American), a geographically diverse sales base, and low sourcing exposure in China, we believe ONON is one of the best positioned brands to navigate the current uncertain tariff environment.” Wells Fargo reiterates Arm as overweight Wells lowered its price target on the British semiconductor designer to $150 per share from $185 but says it’s bullish ahead of earnings next week. “Despite a -32% stock move in Arm since F3Q25 EPS (vs. SOX -17%), we’re cautious into F4Q25 EPS on 5/7 & view investor positioning as short.” Truist upgrades Peloton to buy from hold Truist says “sustained profitability” is getting clearer. “Three years+ after we downgraded PTON to Hold from Buy, we believe the stock is finally nearing a point where the company’s improving fundamentals should support a gradual recovery of its equity.” Cantor Fitzgerald reiterates Tesla as overweight Cantor says it’s standing by shares of Tesla. “We reiterate our Overweight rating & our 12-month $355 PT, ahead of material near-term catalysts. While we expect some near-term headwinds due to macro conditions, tariffs, Mr. Musk’s polarizing politics and likely removal of EV Tax Credit, our long-term bullish thesis remains intact.” Bank of America upgrades Progressive to buy from neutral Bank of America upgraded the insurance company on valuation following its downgrade of the stock earlier his month. “Earlier this month we downgraded PGR to Neutral from Buy. In the intervening 15 trading sessions, PGR shares fell 8%, underperforming the S & P 500 by more than 1,000bps. Further, on April 16, Progressive announced March 2025 results, adding a net 572k new personal auto customers—the ‘growthiest’ month in its history on a nominal basis and the best March in its history on a percentage basis.” Barclays initiates Gildan Activewear at buy Barclays said the lifestyle activewear company is best positioned to weather higher tariffs. “Our Overweight rating on GIL is based on our view that it is relatively better positioned than others to absorb the tariff costs given the combination of: 1) no China sourcing exposure; 2) innovation this year (such as Plasma Print technologies and Color Comfort) that can command higher prices and offset cost pressures…” Susquehanna initiates Madison Square Garden Sports at positive Susquehanna says the New York-based sports company that includes ownership of the New York Knicks and Rangers is well positioned. ” MSGS is a pure-play on the value of two major market professional sports franchises (NBA & NHL) that we think are attractive currently given the impact to shares from both a very disappointing season for the NY Rangers as well as the overall market meltdown and the impact on asset valuations.”
