Here are Monday's biggest analyst calls of the day: Apple, Oracle, Snowflake, Boeing & more

Published Mon, Sep 21 20208:32 AM EDT

Key Points

Stifel upgraded Lam Research to buy from hold.
Piper Sandler upgraded Dunkin' Brands to overweight from neutral.
Summit Insights initiated Snowflake as sell.
Deutsche Bank added a catalyst call buy idea on Western Digital.
Goldman Sachs added Raytheon and Boeing to the conviction buy list.
Morgan Stanley upgraded Capri Holdings to overweight from equal weight.
RBC upgraded Oracle to outperform from sector perform.
Credit Suisse upgraded UPS to outperform from neutral.
Piper Sandler upgraded Tapestry to overweight from neutral.
Citi raised its price target on Apple to $125 from $112.50.

(This story is for CNBC PRO subscribers only.) Here are the biggest calls on Wall Street on Monday: Stifel upgraded Lam Research to buy from hold Stifel said in its upgrade of the designer and manufacturer of semiconductor processing equipment that Lam' s valuations were "compelling." "We believe the recent weakness in the group (that can be attributed to several factors including concerns on worsening China trade tensions and potential memory capex cuts) has brought shares to more attractive valuations, which support our more favorable rating. Fundamentally, while we still have concerns on near-term memory capex plans, we are incrementally more positive on 2021 wafer fab equipment (WFE) spending and believe it will be up from 2020 levels." Piper Sandler upgraded Dunkin' Brands to overweight from neutral Piper said in its upgrade of Dunkin ' that it sees consistent execution and "favorable" exposure to suburban and rural markets. "Our thesis is predicated on a 1.) low ticket, high frequency offering, 2.) franchise business model that has transferred operating risk and maintains a healthy partnership with franchise operators, 3.) exposure to suburban markets, an East Coast re-opening, and less reliance on urban/central business district sales, and 4.) an experience that is not replicable at home. Under this framework we expect rather consistent execution, and enough performance to support its total return policies." Summit Insights initiated Snowflake as sell Summit initiated the cloud based data-warehousing company as sell due to valuation and "intense" competition. "Our SELL rating is based on the belief that SNOW is the most expensive name in all tech, with limited differentiation with respect to Redshift, Big Query, and Azure SQL Database. Snowflake also competes with traditional legacy vendors such as IBM Netezza, Oracle, SAP, and Teradata. Each of these vendors has a cloud product as well. We believe there will be multiple winners in the market." Deutsche Bank added a catalyst call buy idea on Western Digital Deutsche Bank initiated a short-term investment idea on the computer hard disk drive manufacturer and data storage company and said its memory business was "undervalued." "We believe that WDC 's flash memory business is being undervalued by the market and the upcoming IPO of its flash memory joint venture partner Kioxia (formerly Toshiba Memory Corp.) could help identify the valuation mismatch between WDC's and Kioxia's flash memory businesses." Goldman Sachs added Raytheon and Boeing to the conviction buy list Goldman added Raytheon and Boeing to its conviction buy list and said defense offers "favorable" business characteristics. "We believe it is a particularly unique time in history to invest in aerospace stocks, while the US DoD budget is flattening. We still like defense overall given the favorable business model characteristics that compound cash flows and we see substantial budget declines as unlikely; but believe commercial aerospace currently offers even better medium-term opportunities in the context of total Industrials." Morgan Stanley upgraded Capri Holdings to overweight from equal weight Morgan Stanley upgraded the multinational fashion holding company and owner of brands like Michae Kors and said it sees a "sharper than expected" sales recovery trajectory. " CPRI' s faster than expected global retail recovery suggests revenue and earnings beats are coming. Raising CY21/22 estimates 42%/54% as sales recover on a restructured cost base. Price target to $29 (from $15). -45% YTD share price decline trails specialty retail even after the recent bounce." RBC upgraded Oracle to outperform from sector perform RBC said in its upgrade of the stock that it was bullish on the company's investment in TikTok and could leave to revenue growth Oracle has has not seen over the last "decade." "We believe the minority investment and acquisition of TikTok as an Oracle Cloud Infrastructure customer are potential catalysts to ORCL share appreciation, and thus raise our estimates and price target to $68. ... .If Oracle were to win just 5% of this incremental opportunity, total revenue growth would be mid-high single digits, something Oracle has not seen over the last decade." Credit Suisse upgraded UPS to outperform from neutral Credit Suisse upgraded the shipping company and said it was getting positive on the stock for the first time in five years and that it saw catalysts that were "clear and compelling." "We are upgrading UPS to Outperform from Neutral, as this is the first time we have been outright positive on the stock in five years. ... .Catalysts are Clear and Compelling: (1) Domestic pricing power has tangibly shifted toward the carriers; (2) capex is likely set to begin its descent from a multi-year high, with further and potentially significant opportunities to reduce capital intensity" Piper Sandler upgraded Tapestry to overweight from neutral Piper upgraded the owner of brands like Kate Spade and Coach and said Tapestry was a "value recovery" name 2021. "While a permanent CEO has yet to be named, we believe this could happen relatively soon. The underlying strategy has been underway for some time and supports SKU rationalization, headcount reduction and store rationalization. We see potential to capitalize on the 1M new customers acquired last quarter & are encouraged they are seeing lapsed consumers return to Kate Spade." Citi raised its price target on Apple to $125 from $112.50 Citi raised its price target on Apple and said it was bullish on the company's Wearables segment. "Our revenues and EPS estimates are higher for the Wearables segment underpinned by continued demand strength in consumer spending on technology gadgets, especially those that enable improved productivity and improved ability to track one's health/fitness. Additionally the Family Setup feature will help drive additional customers to the user base. As we have stated for many quarters the iPhone 12 delay is still slated for launch and availability in sufficient time for the holiday season, albeit later than many were hoping for."

The Boeing Co. manufacturing facility stands in North Charleston, South Carolina, U.S., on Monday, May 4, 2020. Boeing is restarting its 787 operations at the plant for the first time since April 8, including all operations that were suspended because of the Covid-19 pandemic, ABC News reported.

Sam Wolfe | Bloomberg | Getty Images

(This story is for CNBC PRO subscribers only.)

Here are the biggest calls on Wall Street on Monday:

Stifel upgraded Lam Research to buy from hold

Stifel said in its upgrade of the designer and manufacturer of semiconductor processing equipment that Lam's valuations were "compelling."

"We believe the recent weakness in the group (that can be attributed to several factors including concerns on worsening China trade tensions and potential memory capex cuts) has brought shares to more attractive valuations, which support our more favorable rating. Fundamentally, while we still have concerns on near-term memory capex plans, we are incrementally more positive on 2021 wafer fab equipment (WFE) spending and believe it will be up from 2020 levels."

Piper Sandler upgraded Dunkin' Brands to overweight from neutral

Piper said in its upgrade of Dunkin' that it sees consistent execution and "favorable" exposure to suburban and rural markets.

"Our thesis is predicated on a 1.) low ticket, high frequency offering, 2.) franchise business model that has transferred operating risk and maintains a healthy partnership with franchise operators, 3.) exposure to suburban markets, an East Coast re-opening, and less reliance on urban/central business district sales, and 4.) an experience that is not replicable at home. Under this framework we expect rather consistent execution, and enough performance to support its total return policies."