Here are Monday's biggest analyst calls of the day: Levi, Keurig Dr Pepper, Wayfair & more

Key Points
  • Morgan Stanley upgraded Keurig Dr Pepper to equal weight from underweight.
  • UBS initiated Levi Strauss & Co. as buy.
  • Bank of America downgraded First Solar to underperform from buy.
  • Morgan Stanley downgraded Wayfair to underweight from equal weight.
  • Baird downgraded L Brands to neutral from outperform.
  • Cowen downgraded Tilray to market perform from outperform.
  • Cowen downgraded Domino's Pizza to market perform from outperform.
  • Evercore ISI initiated Chewy as outperform.
  • Argus downgraded Norwegian Cruise Line to hold from buy.
Dr Pepper soda in the warehouse at the Dr Pepper Snapple Group bottling plant in Louisville, Kentucky, in April 2015.
Luke Sharrett | Bloomberg | Getty Images

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Here are the biggest calls on Wall Street on Monday:

Morgan Stanley upgraded Keurig Dr Pepper to 'equal weight' from 'underweight'

Morgan Stanley upgraded the beverage maker mainly on valuation.

"We are upgrading Keurig Dr Pepper to Equal-weight from Underweight post large stock underperformance, with KDP stock up ~5% over the last year, underperforming its closest peers KO by ~2,600 bps and PEP by ~2,400 bps, as well as underperforming the broader CPG peer group by ~1,500 bps and the S&P by ~1,600 bps over the same period. Post the large underperformance, we don't see enough downside to justify an Underweight."

UBS initiated Levi Strauss & Co. as 'buy'

UBS initiated the maker of denim jeans as buy and said the company is one of the world's "best" brands.

"We initiate at Buy because we think Levi's transformation into a global, direct-to-consumer, lifestyle brand could make the stock worth more long-term, catalyzing a P/E rerating. The market views Levi's as tethered to struggling US Dept. Stores. But, we think Levi's is a potential Softlines "winner," capable of delivering many years of +DD EPS growth and an improved, above-industry-avg. ROIC. "