- 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.
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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. "