Here are Monday's biggest analyst calls: Amazon, Best Buy, Microsoft, Tesla, Chevron & more

Published Mon, Jan 31 20228:33 AM ESTUpdated Mon, Jan 31 202211:34 AM EST

Here are the biggest calls on Wall Street on Monday: Goldman Sachs reiterates Uber and Lyft as buy Goldman kept its buy rating on the ride-sharing companies and said it sees improving profitability in 2022. "In our view, as we move through 2022, these companies will begin to show sustained & improving proﬁtability for the ﬁrst time with healthy incremental margins, which could give a broader group investors conﬁdence in the ability of UBER and LYFT to compound proﬁtability & FCF over the next several years." Jefferies reiterates Amazon as buy Jefferies said in a note to clients on Monday that it sees a mixed setup heading into earnings later this week. "We see AMZN as a 2H22 story, aided by easing comps, improved cost visibility, moderating capacity build-out, continued momentum at high-margin businesses, and ~40% multiple compression since mid-2020." Credit Suisse upgrades Tesla to outperform from neutral Credit Suisse said in its upgrade of the automaker that the pullback in the stock creates an "attractive entry point." "With the market disproportionately punishing growth stocks in the past month, we believe an attractive entry point has emerged for Tesla, and we upgrade to Outperform (from Neutral). Tesla is a 1 of 1: we are hard-pressed to find a stock that checks all the boxes as Tesla does – attractive growth story (both top line and EPS), disruption, decarbonization, etc." Read more about this call here . Loop reiterates Best Buy as buy Loop kept its buy rating on the big-box retailer and said it's "extremely well positioned" for the metaverse. "While it is still unclear exactly what the metaverse will entail, we left the conversation with a high degree of conviction whatever form it ultimately takes. Best Buy will be extremely well positioned to be a multiyear beneficiary given its market-leadership position, existing supplier relationships, and omnichannel capabilities." Goldman Sachs reiterates Exxon Mobil as buy Goldman said in a note to clients on Monday that it likes Exxon's valuation. "We continue to see more upside to XOM vs. CVX from a valuation standpoint. We see value in Guyana, Global LNG, Chemicals and the ongoing corporate governance transition as underappreciated in the current share price." Credit Suisse initiates coverage of Vivid Seats as outperform Credit Suisse said it's bullish on the ticket-exchange company's platform and customer experience. "During 2021, Vivid Seats launched its new web v2.0 and mobile v3.0 experiences, as well as updated its loyalty program, which should result in an improved customer experience, engagement and retention." Truist downgrades Chevron to hold from buy Truist said in its downgrade of the oil and gas giant that it sees better value in other energy names. "While CVX shares could go higher on an absolute basis if commodity prices continue to climb, we forecast far more upside for a number of smaller caps such as DVN, OXY or EOG versus CVX." Read more about this call here . Barclays upgrades Beyond Meat to overweight from underweight Barclays said in its double upgrade of the alternative meat company that the stock should benefit from Beyond Meat's rollout in more retail stores. "We believe BYND' s growth potential in the U.S. food-service channel and the international segment is not properly reflected in the current stock price. While we still expect increasing competition in the alternative meat space, especially in U.S. retail, we see more positives than negatives and hence upgrade BYND to OW." Read more about this call here. Credit Suisse names Chipotle and Papa John's top 2022 picks Credit Suisse named Chipotle and Papa John's as two of its favorite stocks for 2022. The firm said the companies are well positioned as they "expand the global footprint." "Expand the global footprint – improving returns; expansion of new formats (Chipotlanes, digital-only). … Leverage the box –implementing sales initiatives to maintain and grow sales (menu innovation, marketing, operations, digital, delivery)." William Blair reiterates Microsoft as outperform William Blair said in a note to clients on Monday that it's bullish on the company's cloud and expanding product base. "With a commercial cloud annual revenue run rate of more than $60 billion, Microsoft is the world's largest cloud vendor. We expect commercial cloud to surpass 50% of Microsoft's total sales by the end of fiscal 2023 — a milestone event." Bank of America reiterates Chevron as buy Bank of America said the reaction to the oil and gas giant's earnings disappointment last week is "overdone." "Simply put, we see the market's reaction to Chevron (CVX)'s quarterly headline miss of $2.56 vs. consensus at $3.11 as overdone, with no material read through to the underlying investment case." Citi upgrades Netflix and Spotify to buy from neutral Citi said in its upgrade of Netflix and Spotify that it sees other "top-line vectors" besides subscriber growth which the firm believes will drive the stocks higher. "We are upgrading Netflix and Spotify from Neutral to Buy. While Netflix and Spotify may see more modest sub growth, we see other top-line vectors. For Netflix, we believe the firm has ample pricing power. For Spotify, we believe the firm can improve ad-supported monetization." Read more about this call here. BMO downgrades Kellogg to market perform from outperform BMO said in its downgrade of the stock that it sees cereal "challenges." "We are downgrading K to Market Perform, as our case for aggressively investing in K is less persuasive at current valuations (in line with five-year averages), the ongoing challenges in U.S. cereal, and industrywide supply constraints/inflation Bank of America reiterates Starbucks as buy Bank of America said the coffee giant is well positioned despite the rise in coffee prices. " Starbucks establishes long-term relationships with suppliers and locks in prices one year-plus in advance to ensure stable supply of the high-quality coffee it uses."

A shopper exits a Best Buy store during Black Friday sales in Brooklyn, New York, November 26, 2021.

Brendan McDermid | Reuters

Here are the biggest calls on Wall Street on Monday: