- Cowen raised its price target on Apple to $400 from $335.
- Stifel raised its price target on Peloton to $62 from $55.
- Wells Fargo upgraded Gap to overweight from underweight.
- UBS upgraded Walmart to buy from neutral.
- UBS downgraded American Express to sell from neutral.
- JPMorgan initiated Nikola as neutral.
- Barclays upgraded Marriott and Hilton to overweight from equal weight.
- Jefferies initiated DraftKings as buy.
- Jefferies upgraded Campbell Soup and Conagra to buy from hold.
- B. Riley FBR downgraded Foot Locker to neutral from buy.
- Benchmark upgraded Western Digital to buy from hold.
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Here are the biggest calls on Wall Street on Monday:
Cowen raised its price target on the stock and said the company should continue to benefit from the work-from-home environment as well as the upcoming 5G upgrade cycle.
"We remain bullish on Apple's stock and view it as a defensive name with a stock multiple-enhancing Services segment that continues to benefit from the work from home & distance learning environment, & a cash flow generating iPhone business that should accelerate as we enter a 5G upgrade cycle."
Stifel raised its price target on the stock to a Street high and said it's bullish on the company's long-term opportunity.
"As we near the end of the June quarter, we are incrementally positive on Peloton's current momentum and long-term opportunity as the leader in the rapidly growing connected fitness category. Shifting consumer behavior, gym closures / social contact avoidance, and steady demand from word-of-mouth have the potential to fuel multiple quarters of holiday-like demand in our view while also pulling forward the margin expansion path by two to three years in our expectations."