Here are Monday's biggest analyst calls of the day: Amazon, Apple, Nike, Disney, Peloton & more

Published Mon, Dec 20 20218:39 AM ESTUpdated Mon, Dec 20 20218:53 AM EST

Here are the biggest calls on Wall Street on Monday: Morgan Stanley reiterates Nio as overweight Morgan Stanley kept its overweight rating on the Chinese electric vehicle company and said it's bullish on the upcoming release of the electric sedan, ET7. "NIO hosted its 2021 NIO Day on Dec 18th, introducing the ET7, which is to start deliveries on March 28, and its mid-sized sedan, ET5, which is to hit the market next Sep. Number of NIO's battery swap stations should almost double in 2022." Piper Sandler downgrades Canopy Growth to underweight from neutral Piper said in its downgrade of the cannabis company that it sees limited sales growth. " Canopy's sales trends remain under pressure across its business, and we are lowering our estimates accordingly. Further, our sum of the parts analysis implies potential valuation levels of $5-6, even with applying some higher multiples than its peer comps." Morgan Stanley reiterates Amazon as overweight Morgan Stanley said in a note to clients on Monday that it sees video games as a big opportunity for the e-commerce giant. "We think AMZN and traditional game publishers (TTWO/EA/ATVI) are the next opportunities." UBS reiterates Peloton as sell UBS reiterates its sell rating on shares of Peloton and said subscriber growth could come in below expectations. "We are maintaining our Sell rating given: 1) lack of confidence around H2 subscription net adds and FY subs growth outlook and whether ~10ppts lower subs growth fully captures the downside vs. current guidance range of +44-48%." Guggenheim initiates coverage of Tesla as neutral Guggenheim started coverage of Tesla with a neutral and said it sees increasing competition. "Our balanced view is based on: 1) a favorable near-term setup — with demand outpacing supply, we see visibility to volume upside in 2022 and 2023 as new factories in Austin and Berlin ramp; 2) competitive advantage over all OEMs today, including a high degree of vertical integration, a software defined vehicle approach, a dedicated charging network, and greater battery capacity." Read more about this call here . Bank of America reiterates Spotify as buy Bank of America kept its buy rating on the streaming company and said momentum is building. "We believe substantial capacity exists for cont. SPOT gross margin growth and equity value creation, incl.: (1) penetration of a long-term global 5bn+ mobile internet user TAM, (2) enhanced podcast and advertising efforts, (3) scaling of emerging markets leading to a transition away from per stream rates to a healthier royalty pay-out structure." Evercore ISI reiterates Nike as outperform Evercore kept its outperform rating on the athletic retailer ahead of its earnings report on Monday after the bell and said the bad news is already priced in. "The good news is that demand is not Nike's issue (at least until this Omicron spread), and all signs point to the continuation of the strong sneaker and casualization trend well into 2022." JPMorgan reiterates Apple as overweight JPMorgan reiterated its overweight rating on shares of Apple and said its weekly checks show iPhone supply continues to improve. "In Week 14 of our iPhone 13 series tracker, lead times across all the models moderated on an average basis across the regions that we track for the second consecutive week in a row, and now stand at the lowest level we have seen across our survey since we started tracking back in September." Loop reiterates Best Buy as buy Loop said in a note to clients on Monday that investors should buy the earnings sell-off. "Given the dramatic post-earnings sell-off in Best Buy stock and growing COVID-19 infections and hospitalizations we are aggressively 'pounding the table'." Bank of America reiterates Disney as buy Bank of America kept its buy rating on the entertainment giant, but said the stock is now a "show me" story. "Following the disappointing F4Q results, we believe DIS has become a "show me" story as investors await signs of DIS + net adds to re-accelerate and theme parks to show operating leverage as attendance improves." Mizuho upgrades Anthem to buy from neutral Mizuho said in its upgrade of the health-care company that the stock should benefit from a favorable industry backdrop in 2022. "We believe the managed care sector is set to outperform in 2022 due to increased earnings visibility, reduced legislative risk, an improved economic backdrop, less exposure to supply chain and inflationary risks versus other sectors, and finally, a group that is leveraged to interest rates rising. Further, we believe the backdrop for all of ANTM's key health insurance segments is attractive." Citi initiates coverage of SoFi as buy Citi began coverage of the online personal finance company and said it sees "potentially significant upside" if SoFi gets an official bank charter approval. "We like SoFi's differentiated combination of consumer (lending, financial services) and enterprise (technology platform) services targeted at large markets on both sides with a member-centric approach and well-designed products that lead to rapid member growth and engagement." Read more about this call here. Mizuho names CVS Health a top 2022 pick Mizuho said vaccines will continue to benefit earnings in 2022 for CVS. "We believe CVS 's and WBA's role in the pandemic will create an unquantifiable positive perception that could create customer loyalty and serve as a key differentiator as both companies embark on new healthcare services strategic initiatives." Rosenblatt names Marvell, Advanced Micro Devices and Micron top 2022 picks Rosenblatt said in a note to clients on Monday that Marvell, AMD and Micron are the firm's favorite semi picks for 2022. The firm said it sees semi growth doubling with increasing profitability. "We believe a structural shift and a doubling in semiconductor growth going forward has important implications for investors in terms of valuation and a return to a baseline (to high-single-digits and not 4%) from current elevated growth rates." Barclays upgrades AT & T to overweight from equal weight Barclays said in its upgrade of the media and telecommunications company that AT & T is well positioned heading into 2022. "We believe US telcos are better positioned than cable in '22 due to wireless trends having relatively more visibility vs cable, Infrastructure Act tailwinds, near-term catalysts and potential upside from new sources of revenues." Read more about this call here. KeyBanc downgrades Sunrun to sector weight from overweight KeyBanc downgraded Sunrun due to increased uncertainty over the California Public Utility Commission's net metering decision. Net metering is a billing system that credits solar owners for the electricity added to the grid. "As a reminder, last week the CA PUC (public utilities commission) issued an unfavorable Proposed Decision on the state's Net Energy Metering policy ." Jefferies upgrades Boston Beer to hold from underperform Jefferies said in its upgrade of the stock that seltzer expectations are now more reasonable. "We lift our ests. (seltzer data bottoming), upgrade SAM to Hold, and raise our PT to $535 post the stock's > 60% pullback from its peak w/US hard seltzer growth expectations materially reset. Recent data points have improved (4Q sets up well), seltzer ests. reasonable, and GM (gross margin) % oppty. substantial." Goldman Sachs reiterates Amazon as buy Goldman Sachs reiterates Amazon as a top pick for 2022 and said it sees forward financial performance as a positive catalyst. "Our top stock pick for 2022 remains Amazon as we see them positively exposed to an array of our ten industry themes (including eComm, advertising, cloud computing, media consumption & consumer subscription adoption) & see forward ﬁnancial performance as a potential positive catalyst against trailing 12-month stock underperformance."

Workers install a Nike logo lamp outside the Wukesong Arena in Beijing, August 28, 2019.

Tingshu Wang | Reuters

Here are the biggest calls on Wall Street on Monday: