Here are Monday's biggest analyst calls of the day: Apple, FedEx, Nvidia, Facebook & more

Published Mon, Aug 10 20208:08 AM EDT

Key Points

Evercore ISI initiated J.B. Hunt as outperform.
Wedbush raised its price target on Apple to $515 from $475.
Mizuho raised its price target on Facebook to $315 from $285.
Bernstein upgraded FedEx to outperform from market perform.
Deutsche Bank raised its price target on Apple to $480 from $440.
Bank of America raised its price target on Nvidia to $520 from $460.
Morgan Stanley upgraded Pinterest to overweight from equal weight.

(This story is for CNBC PRO subscribers only.) Here are the biggest calls on Wall Street on Monday: Evercore ISI initiated J.B. Hunt as outperform Evercore ISI initiated the transporation and logistics company and said it had a "unique" business model. "The 800-lb. gorilla is powering through the downturn, and just wait for growth initiatives to turn profitable. JBHT has a unique business model that has helped the stock outperform the broader market in both times of prosperity as well as during periods of uncertainty and economic weakness." Wedbush raised its price target on Apple to $515 from $475 Wedbush raised its price target on Apple to a Street high and said its checks showed a strong demand for the iPhone 12 heading in to the October launch. "Our new Asia supply chain checks conducted by our TMT team over the last week are showing a discernible uptick in forecasts for iPhone 12, which bodes well for demand trends heading into this super cycle October launch. We previously were expected 4 models with a mix of 4G/5G for the iPhone 12 unveil, however now based on supply chain checks we are expecting ONLY 5G models for the Fall launch with a next generation 4G model (5th model) potentially hitting the market with lower price points in early 2021." Mizuho raised its price target on Facebook to $315 from $285 Mizuho raised its price target on the social media company and said it sees an "opportunity" for Facebook to capture market share in the wake of the TikTok distraction. "We recently spoke with industry contacts in China. Key points: (1) We believe the Chinese government is unlikely to get involved in the sale of TikTok as the matter may not be related to national interest or strategic industries. That said, we view near-term distractions to TikTok as an opportunity for FB to capture market share of social entertainment. We estimate a revenue upside of nearly 15% against our FY22 revenues. Maintain Buy on FB and raise PT from $285 to $315 by increasing EBITDA multiple by 10% to 11.5x to support this scenario." Bernstein upgraded FedEx to outperform from market perform Bernstein upgraded the shipping company and said it expects FedEx to deliver "better than consensus" expectations. "E-commerce parcel pricing is expected to remain strong as the pull forward of e-commerce penetration has strained delivery capacity. With UPS looking to get 'better, not bigger,' FDX emphasizing returns, and the USPS curtailing capacity the rate environment at present is outstanding. Pricing is the key to getting better returns out of residential delivery, and once the carriers begin to take price / improve margins we expect the market to move beyond the 'e-commerce driven negative margin mix shift' narrative that has plagued the sector. " Deutsche Bank raised its price target on Apple to $480 from $440 Deutsche Bank raised its price target on the tech giant and said it continues to be of the "highest quality" stocks in its coverage. "As we reflect upon our analysis, we conclude that future AAPL stock price appreciation will need to be increasingly revenue and EPS driven as compared to the past year, which has largely been valuation driven, perhaps limiting the ceiling for stock upside for AAPL, as it theoretically would lose one of its two levers (between valuation and EPS/ revenue growth). Nevertheless, we continue to believe that AAPL remains one of the highest quality stocks in our coverage with a bullish outlook." Bank of America raised its price target on Nvidia to $520 from $460 Bank of America raised its price target on the stock to a Street high ahead of the company's earnings report and said it sees "strong growth" in the company's Gaming business. "We reiterate Buy on top large-cap semi pick, NVDA , ahead of its earnings report on Wed Aug 19 after the market close. We expect an inline JulQ with sales of $3.65bn as data center demand remains resilient offset somewhat by softness in more cyclical autos and proviz businesses." Morgan Stanley upgraded Pinterest to overweight from equal weight Morgan Stanley said in its upgrade of the social media service company that the company is benefiting from "acclerating e-commerce and social shopping." "we believe shelter-in-place is driving a structural change in consumer behavior and accelerating e-commerce and social shopping. We see 'social online malls' (like PINS and FB) becoming even more important touchpoints for retailers, brands and merchants and therefore see ad dollars shifting even faster toward these leading platforms that deliver: 1) reach to shoppers with intent, and 2) e-commerce transactions."

Nvidia CEO Jensen Huang.

Source: Nvidia

(This story is for CNBC PRO subscribers only.)

Here are the biggest calls on Wall Street on Monday:

Evercore ISI initiated J.B. Hunt as outperform

Evercore ISI initiated the transporation and logistics company and said it had a "unique" business model.

"The 800-lb. gorilla is powering through the downturn, and just wait for growth initiatives to turn profitable. JBHT has a unique business model that has helped the stock outperform the broader market in both times of prosperity as well as during periods of uncertainty and economic weakness."

Wedbush raised its price target on Apple to $515 from $475

Wedbush raised its price target on Apple to a Street high and said its checks showed a strong demand for the iPhone 12 heading in to the October launch.

"Our new Asia supply chain checks conducted by our TMT team over the last week are showing a discernible uptick in forecasts for iPhone 12, which bodes well for demand trends heading into this super cycle October launch. We previously were expected 4 models with a mix of 4G/5G for the iPhone 12 unveil, however now based on supply chain checks we are expecting ONLY 5G models for the Fall launch with a next generation 4G model (5th model) potentially hitting the market with lower price points in early 2021."