Here are Monday's biggest analyst calls of the day: Netflix, JPMorgan, Dollar General, Exxon & more

Published Mon, Mar 15 20218:18 AM EDTUpdated Mon, Mar 15 20218:29 AM EDT

Key Points

BMO reiterated Netflix as a top pick.
Wells Fargo raised its price target on JPMorgan to $185 from $170.
Goldman Sachs initiated Unity Software as buy.
Atlantic Equities upgraded Dollar General to overweight from neutral.
Jefferies upgraded MGM to buy from hold.
BMO downgraded ViacomCBS to underperform from market perform.
Bank of America reiterated Exxon and Occidental as top ideas.
Wells Fargo raised its price target on Gap to $40 from $32.
Baird named Sprout as a fresh pick.

Here are the biggest calls on Wall Street on Monday: BMO reiterated Netflix as a top pick BMO reiterated the streaming giant as its top pick and said investors should buy the stock head of the company's share buyback later this year. The firm also said the company's password crackdown could lead to upside to consensus subscriber estimates. "We recommend investors take profits in VIAC and use them to build positions in NFLX ahead of the resumption of its share buyback in 2H21. NFLX has always held the 'password sharing clampdown' card and reports it has begun to play it last week make sense to help drive some incremental gross subscriber additions and smooth the member growth trend relative to the unprecedentedly difficult comps vs the first few weeks of the pandemic a year ago." Wells Fargo raised its price target on JPMorgan to $185 from $170 Wells Fargo raised its price target on the stock to a Street high and said the banking giant was a key beneficiary due to its innovations in "tech and big data." " JPM should emerge from the pandemic stronger with better-than-expected share, efficiency, and earnings. Its record counter-consensus investing through the downturn is both smart - that's the CEO's philosophy and what JPM did during the Global Financial Crisis - and fortuitous given the economy's extra tailwinds (stimulus, vaccines, yield curve, capital markets)." Goldman Sachs initiated Unity Software as buy Goldman initiated the video game software development company and said it was changing the way the video games are made. "We believe Unity and its engine for creating real-time content is driving a structural shift in the way that video games are created. The barriers to entry for game development - speciﬁcally a proprietary and expensive engine - are starting to come down as Unity makes its engine available to all types of creators at relatively low cost, and with the ﬂexibility to develop across platforms." Atlantic Equities upgraded Dollar General to overweight from neutral Atlantic Equities said in its upgrade of Dollar General that investors should take advantage of the recent sell off in shares. "We see the recent pullback in valuation as an opportunity to enter into a fundamentally high-quality, long-term growth, defensive retail story. While there are concerns for the near-term, particularly around the difficult YoY comparisons, as well as wage increases, inflation, freight costs, we believe those are understood and in the price." Jefferies upgraded MGM to buy from hold Jefferies upgraded the hotel and casino company and said it sees a meaningful Las Vegas recovery underway. "We expect change in valuation context on improved macro outlook for 2H21-2022, with a steeper recovery trajectory in Las Vegas vs. prior and continued regional strength. As well, tangible evidence of acceleration and leadership capabilities in Bet MGM warrants higher value. Macau's recovery and gradual MGP deconsolidation may reward patient investors, and are supportive to our rating." BMO downgraded ViacomCBS to underperform from market perform BMO said in its downgrade of ViacomCBS that the stock has run too far too fast. "We update our model for 4Q20 results and new 2024 streaming guidance, roll out new global streaming estimates, and (more importantly) transition valuation to 10-year DCF for streaming. This yields a higher target price of $70 ($45 for streaming, $25 for core) vs. $60 previously, but the stock has run beyond this, thus we downgrade to Underperform." Bank of America reiterated Exxon and Occidental as top ideas Bank of America reiterated Occidental as a top pick and said it was its favorite "buy-rated oil levered name." The analyst also reiterated Exxon as a top pick as the firm said it was adopting a $60 long term base case for Brent oil. "Top ideas are XOM (yield), HES & APA (exploration plays), PXD & DVN for consolidation and portfolio high grading. OXY remains our US1 pick amongst a number of Buy rated oil levered names." Wells Fargo raised its price target on Gap to $40 from $32 Wells raised its price target on the stock to a Street high and said the bull case has further to run. "A lot to like, see bull case building from here, stay long. With a solid 4Q print now behind us, we believe the bull case can continue to build from here. We continue to see an undervalued portfolio - led by Old Navy and Athleta (which by themselves should be valued at $35+ per share) - with a call option on the Gap brand potentially adding gravy to thesis." Baird named Sprout as a fresh pick Baird named the social media software company as a fresh idea and said it saw an "attractive" buying opportunity. "We are adding Fresh Pick designation to Sprout Social and reiterating Outperform rating. While we acknowledge market volatility and general concerns regarding software as a service multiples, we see current level as an attractive buying opportunity for growth investors."

Jamie Dimon, chief executive officer of JPMorgan Chase & Co.

Giulia Marchi | Bloomberg | Getty Images

Here are the biggest calls on Wall Street on Monday: