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Wall Street analysts see buying opportunities in wake of market plunge

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Key Points
  • Goldman Sachs upgraded Boeing to buy from neutral.
  • Morgan Stanley upgraded Colgate-Palmolive and Pepsi to overweight from equal weight.
  • JPMorgan upgraded Coca-Cola to overweight from neutral.
  • Cowen downgraded AT&T to market perform from outperform.
  • MKM downgraded Starbucks to neutral from buy.
  • Piper Sandler upgraded CyberArk and Palo Alto Networks to overweight from neutral.
  • Morgan Stanley downgraded Honeywell to equal weight from overweight.
  • Baird upgraded Netflix to outperform from neutral.
  • SocGen downgraded AbbVie to hold from buy.
  • JPMorgan added Dollar General to the focus list.
  • Wells Fargo downgraded Carnival Corp. to underweight from overweight.
  • Bank of America upgraded Southwest Airlines to buy from neutral.
  • Bank of America upgraded Charles Schwab to buy from neutral.
  • Needham upgraded Lululemon to buy from hold.
A pilot waves as a Boeing 777X airplane taxis during its first test flight from the company's plant in Everett, Washington, U.S. January 25, 2020.
Terray Sylvester | Reuters

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Market volatility continued on Monday, but Wall Street analysts say there are still plenty of stocks with upside. Analyst upgrades include Boeing, Coca-Cola, Southwest Airlines, Netflix and more.

Here are the biggest calls on Wall Street on Monday:

Goldman Sachs upgraded Boeing to 'buy' from 'neutral'

Goldman Sachs upgraded Boeing and said it sees a buying opportunity as "substantial fear is priced in."

"We think Boeing will remain a going concern. We think travel by flight will be as popular as ever once COVID-19 is resolved. We therefore think shares of BA should be procured at the current price that is down 70% YTD, 80% from 2019 highs, and that makes it the worst performing S&P stock over $50bn in cap YTD. We upgrade the stock to Buy from Neutral."

Read more about this call here.

Morgan Stanley upgraded Colgate-Palmolive and Pepsi to 'overweight' from 'equal weight'

Morgan Stanley said it sees a compelling buying opportunity for Pepsi and Colgate.

"On the other hand, names with high leverage and/or a large degree of macro risk still lack visibility despite large stock underperformance. We would argue that a buying opportunity has emerged in some of the names in between these two extremes, as they have sold off steeply despite strong underlying EPS visibility. This includes Pepsi and Colgate, which we are upgrading today to Overweight from Equal-weight, as well as Mondelez and Procter & Gamble, existing OWs that have become more attractive in our minds post a pullback.

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