Here are Monday's biggest analyst calls of the day: Apple, Netflix, Disney, Chevron, Walmart & more

Published Mon, Jul 12 20218:28 AM EDTUpdated Mon, Jul 12 20219:42 AM EDT

Here are the biggest calls on Wall Street on Monday: Raymond James upgrades Brinker and Cheesecake Factory to outperform from market perform Raymond James said in its upgrade of Brinker International and Cheesecake Factory that it saw an "attractive" valuation entry point for the stocks. Brinker is the owner of restaurant chain Chili's. "We are upgrading CAKE and EAT to Outperform from Market Perform as we see strong upside to 2Q expectations and attractive valuation entry points with each down 20%+ from their recent highs." Read more about this call here. Morgan Stanley reiterates Walmart as overweight Morgan Stanley kept its overweight rating on shares of the retail giant and said the stock was starting to look "more interesting." " Walmart + membership levels remain unchanged since March in the ~9-10m range. Other data points (increasing Walmart+ resistance, high overlap with Prime) suggest a near-term inflection is unlikely. Stock is similarly treading water, but looking more interesting in our view." RBC raises price target on Chipotle to $1,800 from $1,750 RBC raised its price target on the Mexican food restaurant chain, reiterated its outperform rating on the stock and said it sees a more balanced risk/reward. "We model upside to 2Q21 Street estimates—driven by above-consensus sales and margins— though we see a more balanced risk-reward ahead of earnings, given CMG 's recent performance." Wells Fargo reiterates American Express as a top pick Wells Fargo called the credit card payment company a top pick and said it should be a key beneficiary as the economy reopens. "We see AXP shares benefiting from the travel and entertainment recovery as the US and global economy continues to reopen. We see upside to forward 2022/2023 EPS estimates on stronger T & E recovery." JPMorgan reiterates Disney as a top pick JPMorgan reaffirmed the entertainment and parks company as a top pick and said it sees theatrical revenues improving. "With its continued digital transformation and recovery at the legacy business, Disney remains our top pick in media in 2021, and we view current levels as a particularly favorable entry point for the long-term investor." Read more about this call here. Evercore ISI downgrades United Airlines to in line from overweight Evercore said in its downgrade of the airline that too much investment is needed at this point in the stock's cycle. " United has significant fleet needs given over 430 aircraft with an average age of ~21 years. That said, we believe the rate of planned investment makes it a tougher story at this point in the cycle." Wolfe downgrades 3M to underperform from peer perform Wolfe said in its downgrade of 3M that it sees a "challenging" growth outlook. "We have lowered our rating from PP to UP rating, given below-average risk reward vs. our YE22 target price of $215. We see a more challenging growth outlook through the back half of 2021 and into 2022 due to weakening short cycle end markets and elevated pandemic-related comps in Safety, Consumer and Health Care segments." JPMorgan reiterates Netflix as overweight JPMorgan kept its overweight rating on shares of the streaming giant and said it saw "upside" ahead of the company's earnings report. "However, we remain positive on the shares into earnings and 2H21 as we believe NFLX could have its strongest 6-month content slate ever, it gets greater distance from the pandemic pull-forward, & NFLX should make more progress in under-penetrated int'l markets." Citi initiates coverage of 23andMe as buy Citi said in its initiation of coverage that it saw "rapid" adoption and an "attractive" valuation for the personal genomics and biotech company. " ME is fundamentally different from other therapeutic companies, however, as its consumer arm allows the company to partially fund its therapeutic ambitions internally while also providing the company with unrivaled access to patient data." JPMorgan downgrades Clover Health to underweight from neutral JPMorgan said in its downgrade of the health-care stock that it was concerned about Clover's recent guidance metrics. "We think shares of other managed care companies offer a more balanced risk/reward profile with little visibility into near-term risks such as a rebound in post-pandemic medical utilization, pause in the direct contracting program and uncertainty into aligned beneficiary growth in 2H21 and 2022." Read more about this call here. JPMorgan reiterates Apple as overweight JPMorgan reaffirmed its overweight rating on shares of Apple and said recent surveys showed "robust" iPhone sales despite a new phone launch in the fall. "Recent survey from Wave7 Research into U.S. sales trends across various carriers in June 2021 continues to indicate that iPhone sales remain robust, with limited indications that consumers are pushing out purchases to wait for the upcoming launch, likely to support a better than seasonal sell-through for 2Q/3Q." Canaccord reiterates Virgin Galactic as buy Canaccord kept its buy rating on shares of the space flight company and said it saw more positive catalysts for the stock after Richard Branson traveled into space over the weekend. "While Branson trumpeted that Virgin Galactic is 'THE spaceline for Earth,' we continue to see several upcoming catalysts for the stock." Bernstein downgrades Charter to market perform from outperform Bernstein downgraded the cable company mainly on valuation. "We remain convicted about Charter' s business plans, financial strategies, and structural competitive position in most of the U.S. We think that supply growth in the medium-term should not dramatically change Charter's FCF/share trajectory." BMO initiates coverage of Chevron as outperform BMO said in its initiation of coverage that it likes the oil and gas giant's "strong" cash flow profile. " Chevron also has meaningful cash flow leverage to higher oil prices, and we think the company is in a strong position to increase cash returns to shareholders." Read more about this call here. Morgan Stanley reiterates Sunrun as overweight Morgan Stanley reiterated its overweight rating on shares of the solar company and said recent surveys show "overlapping interest in EVs and Solar." "We continue to believe that many Ford Lightning customers will choose to power their EV with solar panels installed by Sunrun. We reiterate our RUN OW thesis and see 73% upside to our $91 price target."

Customers order from a Chipotle restaurant at the King of Prussia Mall in King of Prussia, Pennsylvania.

Mark Makela | Reuters

Here are the biggest calls on Wall Street on Monday: