Here are the biggest calls on Wall Street on Monday: Bank of America reiterates Nvidia and Broadcom as buy The firm says Nvidia is somewhat protected from the China-U.S. tariff war. “Hence companies with large US-based footprints serving China are most negatively exposed, such as INTC and TXN, while companies with overseas fab support such as AMD , NVDA , AVGO , MRVL and others are less exposed to announced China tariffs.” Morgan Stanley reiterates Amazon as overweight The firm lowered its price target on Amazon to $245 per share from $280. “Lower ’26 EPS to $7 (Down 10% vs. prior), PT to $245; Remain OW But ’26 Visibility Could Take Time.” Citi reiterates Apple as buy Citi lowered its price target on the stock to $245 per share from $275. “We expect AAPL stock to rally on Trump administration tariff exemptions for PCs and smartphones announced over the weekend, which blunts the negative ~900bps gross margin impact from our assessment last week.” Evercore ISI adds DoorDash and Netflix to the tactical outperform list Evercore ISI says it is bullish on both stocks ahead of earnings. ” NFLX — with an ultra-cheap $7.99 ad-supported plan offering arguably the best entertainment value for your $ in the land, and with our recent survey work suggesting reduced churn risk, despite the recent price increase … DASH — similar to UBER, and both companies have experienced consistent demand/revenue trends during soft economic patches … the macro trend of convenience is the tailwind here…” KeyBanc upgrades Apple to sector weight from underweight KeyBanc says it sees the tariff risk as “off the table” for now. “We are upgrading AAPL to SW. Late Friday’s announcement of exception from tariffs on smartphones is probably the best case scenario we can think of for AAPL, which makes it unlikely that our prior downside PT would be achieved, and takes a big risk off the table.” Goldman Sachs downgrades Hilton and Marriott to neutral from buy The firm says it sees a more balanced risk/reward and a deteriorating macro. “We downgrade Hilton Worldwide and Marriott International to Neutral from Buy, as a result of recent macro volatility and consumer pressures which we expect to be a headwind to the macro sensitive segments” UBS downgrades Stellantis to neutral from buy UBS said in its downgrade of the European auto company that it is concerned about tariffs. “The 25% US auto tariffs introduced on April 2 hit Stellantis harder than its Detroit peers: (1) ~35% of their vehicles sold in the US are imported; (2) after several quarters of severe market share loss, Stellantis’ aggressive plan to regain market share in a likely shrinking US market has now a lower likelihood of success; (3) Unlike F & GM, we see a high probability of losses in NA and a negative FCF.” Wells Fargo reiterates Microsoft as overweight Wells Fargo lowered its price target on the stock to $500 per share from $515, but says it is standing by the stock ahead of earnings later this month. “For better or worse, FQ3 likely centers on 3 key metrics: Azure growth (AI vs non-AI), CapEx (4Q, FY26 expects), and EPS growth. Despite elevated NT debates, still see MSFT among cleanest/most direct ways to play software/AI trends.” KeyBanc upgrades DuPont to overweight from sector weight KeyBanc says it sees a compelling entry point on a “high quality name.” “Given the sell-off in DuPont shares and the administration’s recent steps on deescalating the tariff uncertainty, we upgrade DD to Overweight from Sector Weight.” Baird upgrades Atlassian to overweight from neutral Baird says shares of the software company are attractive at current levels. “With its powerful business model, strong products, and unmatched partner channel, Atlassian has long been the envy of growth software companies.” BTIG initiates Hut 8 BTIG says it is bullish on the bitcoin miner. “We are initiating coverage on Hut 8 (HUT, Buy, $18 PT), a vertically integrated bitcoin (BTC) miner with a toe in the water in high performance computing (HPC) and AI infrastructure with ~1GW of power under management in North America.” Deutsche Bank upgrades Peloton to buy from hold Deutsche Bank says the stock has earnings defensibility. “Thus, while we do lower our FY26 Revenue/ Adj. EBITDA by 2/3.5% and our Target Price to $6.6 based on 10x across our Adj. EBITDA revisions cases, we upgrade Peloton to Buy, as we expect shares to outperform over the next 12 months as the defensibility of the company’s earnings growth algorithm against this challenged consumer backdrop plays out.” Wells Fargo downgrades Comcast to underweight from equal weight Wells Fargo says it sees too many negative catalysts. ” CMCSA is being pulled into a convergence investment cycle w/ higher mobile costs to re-accel b’band. We trim C & P, while NBCU also faces challenges. Our ’25/’26 EBITDA is -4%/-5% vs Street. We downgrade to Underweight as CMCSA is no longer defensive.” Deutsche Bank downgrades General Motors to hold from buy Deutsche Bank says it is concerned about tariff policy on General Motors. “For Ford and GM, we believe both will deliver solid 1Q results compared to expectations but will withdraw full-year guidance as they implement tariff mitigation strategies. As such, we reluctantly downgrade GM to Hold from Buy given structural uncertainty around US industrial/tariff policy.” Deutsche Bank reiterates Tesla as buy Deutsche Bank says it is sticking with the automaker. “We continue to view Tesla favorably longer term as an embodied AI secular winner but acknowledge it faces many cross currents for the next quarter or two.” Citi downgrades U.S. to neutral from buy Citi said in its downgrade of the U.S. market that it sees “exceptionalism” fading. “We downgrade the US market to Neutral (from Overweight previously). The drivers of ‘exceptionalism’ are fading, both from a GDP and EPS perspective. Tariffs, as they stand, could negatively impact US EPS the most.” Disclosure: Comcast owns NBCUniversal, the parent company of CNBC.
