Here are Monday's biggest analyst calls of the day: Apple, Costco, Disney, Deere & more

Published Mon, Jul 13 20208:05 AM EDT

Key Points

Jefferies initiating Moderna as buy.
Atlantic Equities initiated Costco as overweight.
Baird upgraded Deere to outperform from neutral.
Goldman Sachs initiated Disney as buy.
Morgan Stanley raised its price target on Apple to $419 from $340.
Wedbush raised its price target on Apple to $450 from $425.

(This story is for CNBC PRO subscribers only.) Here are the biggest calls on Wall Street on Monday Jefferies initiating Moderna as buy Jefferies initiated the biotech company as buy on its belief there will be a vaccine for the coronavirus in early 2021. "We believe the Street will be surprised to the upside if the COVID-19 vaccine works, gets approved by early 2021, and there are multi-billion dollars of purchase orders from USA and around the world. The Street is divided as to what will happen or if the vaccine will even work, and is hugely divided on valuation. We believe the vaccine will get approved and could do $5B+ in orders over the next few yrs and the stock will head higher. ... .Our base case of $90/share is based on a sum-of-the parts analysis of MRNA 's clinical candidates in various indications." Atlantic Equities initiated Costco as overweight Atlantic Equities initiated the retail giant as overweight and said the company was well-positioned to succeed in any economic scenario. " Costco is a high quality, reliable retail operator with predictable profitability driven by the recurring membership fees. Additionally, we see multiple growth opportunities in a more productive assortment, more stores, e-commerce and additional membership services. Costco's retail profile is uniquely wellpositioned; operating in the discount retail segment whilst appealing to the complete demographic spectrum. We expect the company to do well in any economic scenario, with recent shifts in consumer behaviour likely to enhance its competitive advantage." Baird upgraded Deere to outperform from neutral Baird said in its upgrade of the stock that its checks showed better than expected trends in the company's Small Ag, Turf and Consumer businesses. "Our April downgrade was driven by rising risks in Small Ag and Consumer products similar to prior recessions. The past three months have provided ample datapoints showing consumer behavior shift post-COVID with demand for home-related durables and small ag proving remarkably resilient with positive implications for 2H20/FY21. We thus revert to our longer-term thesis, with DE 's critically important large ag business benefiting from longer-term replacement demand and differentiated technology tailwinds (precision/AI/autonomous)" Goldman Sachs initiated Disney as buy Goldman Sachs said in its initiation of Disney that its "best-in-class" brand and Disney+ streaming service is set up well to compete with Netflix among other things. "We believe that Disney is well-positioned to pivot into direct-to-consumer video models, and that consensus underestimates the proﬁtability of Disney+. We believe Disney's best-in-class brand, global distribution (breadth), production assets (build), sizable content library (backlist) and strong ﬁnancial proﬁle (balance sheet) position the company to build scaled DTC video platforms in the highly competitive streaming environment." Read more about this call here . Morgan Stanley raised its price target on Apple to $419 from $340 Morgan Stanley raised its price target on Apple and said the company's iPhone trade-in program gives it a competitive advantage. "Expanding iPhone trade-in programs highlighted by our AlphaWise consumer survey can unlock $147B of value and fund one-third of iPhone purchases over the next three years. We raise our FY20-22 iPhone and EPS estimates on this underappreciated competitive advantage and raise our PT to$419 from $340." Wedbush raised its price target on Apple to $450 from $425 Wedbush raised its price target on the stock to a Street high and said the company was on track to be the first $2 trillion valuation in 2021. "We believe during 2021 Apple will be the first $2 trillion valuation given the 5G tailwinds and services momentum potential over the coming years. In particular, we are seeing a continued demand snapback in China during the month of June and early July despite some speed bumps and the stage is setting up for a massive pent up iPhone 12 cycle heading into the Fall in this key region as well as globally."

Mickey Mouse rides in a parade through Main Street, USA with Cinderella's Castle in the background at Disney World's Magic Kingdom.

Joe Raedle | Getty Images

(This story is for CNBC PRO subscribers only.)

Here are the biggest calls on Wall Street on Monday

Jefferies initiating Moderna as buy

Jefferies initiated the biotech company as buy on its belief there will be a vaccine for the coronavirus in early 2021.

"We believe the Street will be surprised to the upside if the COVID-19 vaccine works, gets approved by early 2021, and there are multi-billion dollars of purchase orders from USA and around the world. The Street is divided as to what will happen or if the vaccine will even work, and is hugely divided on valuation. We believe the vaccine will get approved and could do $5B+ in orders over the next few yrs and the stock will head higher. ... .Our base case of $90/share is based on a sum-of-the parts analysis of MRNA's clinical candidates in various indications."

Atlantic Equities initiated Costco as overweight

Atlantic Equities initiated the retail giant as overweight and said the company was well-positioned to succeed in any economic scenario.

"Costco is a high quality, reliable retail operator with predictable profitability driven by the recurring membership fees. Additionally, we see multiple growth opportunities in a more productive assortment, more stores, e-commerce and additional membership services. Costco's retail profile is uniquely wellpositioned; operating in the discount retail segment whilst appealing to the complete demographic spectrum. We expect the company to do well in any economic scenario, with recent shifts in consumer behaviour likely to enhance its competitive advantage."