Here are the biggest calls on Wall Street on Monday: JPMorgan reiterates Netflix as neutral JPMorgan says it's sticking with its neutral rating on the streaming giant but that it's getting more constructive on the launch of the company's ad-based service. "We expect NFLX to focus on large brand marketers in the U.S. to start, and soon expand to Western Europe and other regions." Bank of America reiterates Apple as neutral Bank of America says Apple's iPads category will continue to gain share. " iPads have been a structural share gainer in the tablet category since 2017. We expect the category to continue to gain share as AAPL continues (1) to introduce new features in newer iPad models, and (2) to expand its customer base in the enterprise and education segments by leveraging its iPad Pro and iPad mini models, respectively." Goldman Sachs upgrades Kraft Heinz to buy from neutral and downgrades Procter & Gamble to neutral from buy Goldman said in its upgrade of Kraft that it's becoming more constructive on the food sector. The firm said in its downgrade of Procter & Gamble that it's more guarded on the industry bellwether. "In that vein, we trim our exposure to HPC (household and personal care) by downgrading industry bellwether PG to Neutral, from Buy, while leaning more into Food by upgrading KHC to Buy, from Neutral." Read more about this call here. Mizuho upgrades Toast to buy from neutral Mizuho says the cloud-based restaurant software company's "restaurant land grab is in full swing." "Our proprietary Mizuho survey of 55 TOST restaurants uncovers the positive impact on sales and profits from cross-selling payroll and adjacent SaaS (service as a software) products." Goldman Sachs initiates Etsy as buy Goldman said in its initiation of the online marketplace that it likes the company's resilient model. "Post COVID, Etsy's marketplace model has shown a great level of resiliency relative to many of its eCommerce peers and in the face of ongoing macro headwinds." UBS downgrades Ford to sell from neutral and General Motors to neutral from buy UBS said in its downgrade of GM that the sector is deteriorating quickly. The firm also downgraded Ford and says it's concerned about a recessionary environment. "While we continue to like GM's EV momentum in 2023 with a strong (IRA-compliant) launch pipeline, the overall sector outlook for 2023 is deteriorating fast so that demand destruction seems inevitable at a time when supply is improving." Read more about this call here. Guggenheim upgrades Merck to buy from neutral Guggenheim said in its upgrade of Merck that it likes the pharmaceutical company's pipeline of products. " MRK now trades at ~11.8x Street 2023 forecasts on a P/E basis and in our view is poised to beat 2023 estimates with margin-driven potential upside to consensus as the Januvia patent win makes its way into forecasts and as the business trajectory for key growth products Keytruda and Gardasil remains very positive." Read more about this call here . Morgan Stanley upgrades Fortinet to overweight from equal weight Morgan Stanley called the cybersecurity company an "underappreciated compounder." "We think the market materially underestimates FTNT' s secular growth and share gains in an expanding TAM across security + networking." Bank of America initiates Howmet Aerospace as buy Bank of America says it sees room for revenue growth for the aerospace-component manufacturer. "We initiate coverage of Howmet Aerospace with a Buy rating and a $40 PO. HWM manufactures components for jet engines, fasteners and titanium structures for aero applications, and forged aluminum wheels for heavy trucks." Goldman Sachs resumes AIG as buy Goldman resumed coverage of the finance and insurance company and says it likes the company's "ability to deliver on their return on equity improvement targets." "We find it particularly attractive that the ability of AIG to hit a 10%+ ROE is not predicated on the macro environment, and we could potentially see an accelerated improvement of ROE as higher yields increase net investment income." Bernstein reiterates Chipotle as outperform Bernstein says Chipotle is "unlike any other" restaurant in the space. "Companies that can grow annual revenue at a sustained 15%+ over 15+ years are few and far between, let alone in the restaurant industry that is fragmented and highly competitive." Morgan Stanley reiterates Alphabet as overweight Morgan Stanley says it's cautious going into Google parent Alphabet earnings later this month but that investors should buy the weakness. "Near-Term Estimates too High but Watching Levels and What's Priced Closely to Buy on Dips. We expect GOOGL to miss consensus revenue and EBIT at 3Q." Morgan Stanley names Tencent Music Entertainment a tactical idea Morgan Stanley says it sees better-than-expected profit growth for the China music-streaming service company. "We expect TME to report stronger profit growth than consensus in 3Q22, driven by cost savings across long-form audio, live streaming revenue sharing ratio, music content cost and opex." Barclays reiterates Robinhood as underweight Barclays says it's sticking with its underweight rating on shares of Robinhood but that revenue could be slightly better than expected in the third quarter. "We are revising our model following July/August data and based on the updated rate outlook, and raising our PT to $11 from $10. For Q3, we expect transaction-based revenues will likely be better at the margin than in Q2."