Here are Monday's biggest analyst calls of the day: Apple, Tesla, Nio, Nvidia, General Motors & more

Published Mon, Mar 21 20228:25 AM EDT

Here are the biggest calls on Wall Street on Monday: JPMorgan reiterates Apple as overweight JPMorgan said it sees "expanding lead times" for Apple 's latest iPhone. "In summary, lead times have extended over the last week, and while that is an encouraging sign for demand, we will wait for more data points to draw conclusions given the ongoing shifts in supply and logistics in the background." Jefferies reiterates Tesla buy Jefferies lowered its price target on shares of Tesla to $1,250 per share from $1,400, saying it sees a "riskier macro and geopolitical environment." "With cash accumulating at a faster pace than Tesla' s ability to grow physically, we look forward to Elon Musk revealing Master Plan Part 3. However, taking into account a riskier macro and geopolitical environment for valuation, we reduce our 12-month PT to $1,250." Morgan Stanley reiterates General Motors as equal weight Morgan Stanley lowered its price target on shares of GM to $50 per share from $55, noting it's concerned about inflation and supply chain issues. "Combined with continued supply chain disruption, a softening used car market and potential demand destruction we feel it is appropriate to bring earnings forecasts down modestly at this stage." Deutsche Bank reiterates Nio as buy Deutsche Bank lowered its price target on shares of the China electric vehicle company to $50 per share from $70, but said the "tide may finally be turning" for the stock. " NIO has cultivated an aspirational premium brand, underpinned by a leading service infrastructure that no domestic automaker has been able to match, in our view. While volumes have stagnated over the past few quarters due to operational bottlenecks, we think deliveries are on track to increase from 10k/month to 25k exiting the year which will shift the narrative away from supply constraints to product cycle." JPMorgan upgrades Air Products to overweight from neutral JPMorgan said in its upgrade of Air Products that it sees a "reasonable" risk-reward balance. "We think that overall economic growth and a positive price dynamic should lead to strong and consistent earnings growth for the major industrial gas companies. We think that the company has lapped its customer losses in domestic hydrogen. We think that strong merchant gas price trends should lead to margin recovery." Read more about this call here . Deutsche Bank adds a catalyst call buy idea on Five Below Deutsche Bank named the discount retailer as a short-term buy idea, saying it sees a "compelling entry point." "We are adding FIVE as short-term Buy idea heading into its 3/30 4Q release and Investor Day in light of the stock's ~20% YTD pullback (worst performer in our coverage group) with a positive 2:1 risk/reward skew over the coming year." Read more about this call here. RBC upgrades Blackberry to sector perform from underperform RBC said Blackberry's valuation has "normalized." "Following the normalization in BlackBerry's share price back to levels which we believe are more aligned with fundamentals, we are upgrading BlackBerry from Underperform to Sector Perform while maintaining our $7.00 price target." Bank of America reiterates Nvidia as buy Bank of America said it has big expectations for Nvidia heading into the company's analyst day on Tuesday. "We maintain our Buy rating on top sector pick ahead of NVDA GPU Tech conference (GTC'22) and analyst day on Tues, Mar 22nd with CEO keynote livestreamed at 11am ET." Bank of America initiates Silvergate Capital as buy Bank of America said Silvergate is a good way for investors to get exposure to crypto. "We believe SI offers investors an alternative way to gain exposure to the growth of the digital asset ecosystem, instead of owning an actual digital asset, such as a Bitcoin." Read more about this call here . Deutsche bank upgrades Manchester United to buy from hold Deutsche Bank said in its upgrade of the U.K.-based soccer club that the stock is underappreciated. "We believe Man U is one of the most recognized and valuable sports franchises in global sport with over 200M social media followers globally." RBC reiterates Uber as outperform RBC reiterated its outperform rating on shares of Uber but lowered its price target to $50 per share from $65, noting it sees less margin upside. "We maintain our Outperform rating on likely rising tide from reopening but lower our price target to $50 from $65 on an equalizing market share landscape in the U.S. and less margin upside potential." RBC reiterates Lyft as outperform RBC said it sees Lyft shares as a "clean, reopening rising-tide story." "We modestly lower our price target to $50 from $53 given potentially rising incentive costs but maintain our Outperform rating for its clean, reopening/ rising-tide story in '22." Morgan Stanley reiterates Bank of America as underweight Morgan Stanley kept its underweight rating on shares of Bank of America, but said the company should be a key beneficiary of higher interest rates. "On the heels of the Fed's rate hike last week, we took a look at which banks have a deposit base that is best positioned for a rising rate environment. BAC, RF, SBNY, and SIVB stand out, with relatively low loan-to-deposit ratios and a skew towards NIB (non interest bearing) deposits."

Chinese electric vehicle startup Nio Inc.'s first employee Tianshu Li and the company's leadership team celebrate at the New York Stock Exchange to commemorate the company's initial public offering in New York, Sept. 12, 2018.

Brendan McDermid | Reuters

Here are the biggest calls on Wall Street on Monday: