Here are Monday’s biggest calls on Wall Street: Jefferies reiterates Tesla as hold Jefferies said it’s standing by its hold rating on the stock. “TSLA is now regaining some tech initiative with June’s Robotaxi launch in Austin, but its edge may be scalability over technology as AV initiatives accelerate elsewhere. Having returned to a $1trn valuation, the shares give TSLA the benefit of the doubt on 152/107x 2025/26 PE.” Mizuho upgrades Bloom Energy to outperform from neutral Mizuho said in its upgrade of Bloom Energy that it sees an attractive risk/reward for the energy company. “We upgrade to Outperform as we see asymmetric risk/reward upside from marginal orders from utilities or other large load customers.” Morgan Stanley reiterates Apple as overweight Morgan Stanley said it’s sticking with Apple following its quarterly 10-Q report. “We share 4 observations from Apple’s 10-Q: (1) we see clear evidence of component/finished goods pull-forward in F2Q, (2) Advertising, App Store and Cloud continue to drive Services growth, (3) Op margins reached a 10 year high, and (4) Apple does not rule out raising prices to mitigate tariffs.” Morgan Stanley upgrades Ascendia Pharma to overweight from equal weight Morgan Stanley said the biopharma company’s hormone replacement drug, Yorvipath, is performing well. “Clean runway for Yorvipath performance to drive ASND in 2025, particularly through 2Q/3Q25 results; Moving to OW.” Goldman Sachs upgrades Sotera Health to buy from neutral Goldman said the testing lab company is well positioned in an uncertain environment. “While SHC has always maintained a durable business model with exposure to commercial pharmaceutical and medical devices, which are less volatile in an economic downturn due to the necessary nature of the products, we believe this exposure has become much more attractive to investors in the current environment given increased macro-related uncertainty.” UBS upgrades EQT to buy from neutral UBS said the energy company is undervalued. “We see 3+% upside potential to EQT’s FCF and production outlook from each of these catalysts, which we believe are not reflected in the stock price.” UBS upgrades Portland General Electric to buy from neutral UBS said the electric utility company is attractive. “We upgrade POR to Buy from Neutral.” UBS reiterates Berkshire Hathaway as buy The firm said it’s standing by the stock following earnings and the announcement of a CEO change. “Buffett leaves a company that is less reliant on his investing capabilities, with an array of leading businesses with strong cash flows. Operationally, we expect little change at BRK and the culture/strategy to remain unchanged under [Greg] Abel.” Loop initiates Okta as buy Loop said the identity access management cyber company is well positioned. “With Okta having the most strategic asset and the most strategic customer relationship (OpenAI) in this emerging AI-driven demand wave, we believe Okta is perhaps the best-positioned vendor in the identity security market.” JPMorgan upgrades Wendy’s to overweight from neutral JPMorgan said store economics are stabilizing. ” Wendy’s current share price provides a value-oriented opportunity as we see significant upside to equity value with 6-7% FCF yield (F26-28) with potential for this to step further up to 8.5%+ ex-funded franchise development.” Bank of America reiterates Advanced Micro Devices as neutral The firm is sticking with its neutral rating on the stock heading into earnings on Tuesday. “Maintain Neutral on AMD’s consistent execution, reasonable valuation and attractive compute market exposure, offset by strong competitive headwinds.” Canaccord upgrades Worthington Enterprises to buy from hold Canaccord said the machinery company has plenty of upside. “After reporting its fifth ‘clean’ quarter in March, coupled with an advantageous manufacturing/sourcing position in the current environment, we upgrade our recommendation from Hold to BUY and raise our PT to $67 ($54 prior), driven by increased estimates and a higher target multiple.” Seaport upgrades Reddit to buy from neutral Seaport said investors should buy the dip. “RDDT reported strong 1Q revenues (61.5% y/y) and EBITDA as well as strong 2Q revenue/EBITDA guidance. That said, slowing 2Q user growth (particularly in the U.S.) driven by Google search changes resulted in shares selling off. Melius reiterates Broadcom, Nvidia, IBM and Microsoft as buy The firm said it’s standing by a slew of tech stocks. “We are reiterating our buy ratings on Microsoft, Nvidia, Broadcom and IBM. We think Apple will eventually get through the tariff noise and revamp its iPhone line-up. However, a reacceleration in services is what it is really needed to get the stock going.” Bank of America initiates Taylor Morrison as buy Bank of America said the homebuilder has an attractive valuation. “We believe TMHC is relatively well positioned in a tough housing market given its more affluent customer base and lower exposure to entry level buyers.” Raymond James upgrades Lumen Technologies to outperform from market perform The Wall Street firm said it sees a slew of positive catalysts ahead for the telecommunications company. “We are upgrading our rating on shares of Lumen (LUMN) to Outperform from Market Perform as we believe there are several items in the next 6-9 months that could materially impact the equity value.” Jefferies initiates EHang as buy Jefferies said the eVTOL company has a “huge” total addressable market. ” EHang as the only player in the world securing all approvals required should be the biggest beneficiary in the space. Initiate on EH with BUY.”
