Here are Monday's biggest analyst calls of the day: Micron, Berkshire Hathaway, DraftKings & more

Published Mon, Mar 1 20218:14 AM EST

Key Points

Bank of America initiated Cree as buy.
Morgan Stanley initiated Boston Beer as overweight.
KBW raised its price target on Berkshire Hathaway to $430,000 from $400,000.
Loop raised its price target on DraftKings to $105 from $100.
Truist upgraded Wayfair to buy from hold.
Bernstein downgraded Apache to market perform from outperform.
Barclays named Micron a favorite idea.

Here are the biggest calls on Wall Street on Monday. Bank of America initiated Cree as buy Bank of America initiated coverage of the manufacturer and marketer of semiconductors and said it saw 25% upside. "We initiate coverage of specialty semiconductor materials and device vendor Cree Inc. with a Buy and Street-high $140 PO (~25% upside). Cree's Wolfspeed business is a global leader with 60%+ share in substrates for Silicon Carbide (SiC) – the next-gen material driving efficient power conversion in battery powered EVs and charging infrastructure." Morgan Stanley initiated Boston Beer as overweight Morgan Stanley initiated the beverage maker with an overweight rating and said the stock was undervalued and that it was bullish on the hard seltzer category. "A truly compelling long-term growth story. ... .Our Overweight thesis on Boston Beer i s anchored by a stronger longterm topline growth outlook than the stock is discounting." KBW raised its price target on Berkshire Hathaway to $430,000 from $400,000 KBW raised its price target on Warren Buffett's Berkshire Hathaway after the company's earnings report on Saturday and said it expects a boost in shares on Monday. "We raise our target price to $430,000 from $400,000 (mostly on updated peer comps) and maintain our Market Perform rating. ... .Despite the earnings miss, we expect positive commentary around sustained repurchases to boost the shares on Monday." Loop raised its price target on DraftKings to $105 from $100 Loop raised its price target on shares of the fantasy sports betting operator to a Street high after the company's strong earnings report. " DKNG delivered a much better-than-expected 4Q across all key metrics. Revenue of $322mn was $89mn higher than consensus, as both Monthly Unique Payers and average revenue per MUP (came in above forecast." Truist upgraded Wayfair to buy from hold Truist said in its upgrade of Wayfair that the company will emerge stronger from the coronavirus pandemic and as a "leader" in home and business improvement. "While elevated buyer demand due to pandemic will likely settle down as the economy reopens, we believe the company is set to emerge stronger after solidifying its position as category leader in Home and an improvement in business underpinnings." Bernstein downgraded Apache to market perform from outperform Bernstein downgraded the hydrocarbon exploration company and said it sees "fewer" 2021 catalysts. "First, we're of the view that the commodity rally is built upon a weak foundation. That concern leads us to move from predominantly overweight E & Ps to more neutral and we are expressing that view via downgrades of PXD and APA both of whom have reach our previous price targets and both of whom have relatively fewer 2021 catalysts." Barclays named Micron a favorite idea Barclays named the computer data and storage company a "favorite" idea and said it sees May guidance "ahead" of the Street. "For MU, we believe February is tracking well with the potential for a positive preannouncement and we expect May guidance ahead of the Street."

Niraj Shah, Wayfair CEO

Ashlee Espinal | CNBC

Here are the biggest calls on Wall Street on Monday.