Here are the biggest calls on Wall Street on Tuesday: Goldman Sachs initiates Vera Therapeutics as buy Goldman says it sees a wide competitive moat for the biotech company. “Following the recent pullback, we see VERA shares at an attractive entry point given atacicept is largely de-risked with line of sight to commercialization starting next year.” UBS reiterates Microsoft as buy The firm says any sell-off in the stock is overdone. “In our judgement, the very modest -2% impact on Microsoft shares (one of the very few large-cap tech firms that was spared) felt about right, as the DeepSeek news validates much of what Microsoft has been saying/doing of late.” Barclays upgrades Victoria’s Secret to overweight from equal weight Barclays says the company is seeing a “brand renewal.” “We upgrade shares of VSCO as it checks off our 3 critical fundamental catalysts: 1) positive promotional inflection this quarter; 2) sustainable positive comp inflection in FY3Q24.” Morgan Stanley upgrades EcoLab to overweight from equal weight Morgan Stanley said in its upgrade of Ecolab that it sees margin upside for the chemicals company. “Upgrade to OW: Incremental margins likely in excess of expectations, driving material upside as volume grows.” Morgan Stanley upgrades Bancolombia to overweight from equal weight The firm says it’s bullish on the Colombian bank. “CIB is well positioned to benefit from a nascent macroeconomic recovery.” Evercore ISI reiterates Lululemon as outperform Evercore added the stock to its top five outperform list and says it’s “ready for prime time.” “We think the evidence is mounting that LULU’s product issues were contained to 2024, and our conviction is increasing that compelling innovation is poised to improve (bolstered by easy compares) in 1Q.” Morgan Stanley reiterates Nvidia, Broadcom, Marvell and Micron as outperform The firm lowered its price target on Nvidia to $152 per share from $166.The firm also went to $246 per share from $265 on Broadcom . Additionally, the firm lowered its price target on Marvell to $113 per share from $120 and cut Micron to $91 per share from $98. “The DeepSeek release highlights evolutionary innovations in AI, some of which may be deflationary. That said, the stock market reaction is probably more important than the cause, and could bring further export controls or reduce spending enthusiasm; trimming PTs but remain positive.” Bank of America reiterates Apple as buy The firm says it’s sticking with its buy rating on the stock. “Key drivers for AAPL include launch of iPhone SE in March/April, insourcing the modem (higher GMs), WWDC in June with more AI driven use cases (potentially agreements with Gemini etc), and iPhone 17 in Sep 2025.” TD Cowen upgrades Roper Technologies to buy from hold TD Cowen says the software company is attractive. “There’s a lot we don’t know in the world right now: Will industrials cyclically accelerate? Is the AI trade overdone? Tariffs? ROP’s portfolio stands as an attractive alternative with likely accelerating revenue growth not dependent on any of those themes with applicability across investor bases at an attractive multiple.” JPMorgan upgrades Ciena to overweight from neutral JPM says it sees minimal impact from DeepSeek for the networking systems company. “With improving earnings drivers for FY25, and 8%- 11% growth for FY26, we see upside to CIEN shares from the current levels…” Melius downgrades Advanced Micro Devices to hold from buy Melius says it sees profits being pressured. “We cut numbers already on January 6th on GPU’s [graphic processing unit] and the stock actually went up 3%, so a guide down on disappointing MI300 sales for 2025 is already expected. We are now more cautious on x86 server and PC as well over the long-term for AMD.” Bank of America reiterates Uber as buy Bank of America says Uber is well positioned heading into earnings next week. “We see opportunity for multiple expansion on steady growth & margin improvement in ’25 coupled with a stable-to-improving AV [autonomous vehicle] narrative.” Evercore ISI initiates Mind Medicine as outperform The firm says it’s bullish on shares of the psychedelics therapeutics company. “We’re initiating MNMD at Outperform with a $23 PT.” Goldman Sachs reiterates Target as buy The firm says it likes Target’s latest initiatives like Target+. “Alternative revenue businesses at Target have the potential to drive operating margin and multiple expansion.”
