Here are Monday's biggest analyst calls: Apple, Amazon, Nvidia, Disney, Salesforce, Palo Alto and more

Published Mon, Aug 21 20238:08 AM EDTUpdated Mon, Aug 21 202311:18 AM EDT

Here are Monday's biggest calls on Wall Street: Credit Suisse reiterates Disney as outperform Credit Suisse said it's sticking with its outperform rating on the entertainment giant. "Thus, to the extent investors believe, as we do, that Disney forecasts are now reasonable and earnings are marching to $5 and then $6 the next two years, favorable sentiment should return." Goldman Sachs reiterates Palo Alto Networks as buy Goldman Sachs said it's standing by its buy rating on the stock following its earnings report Friday evening. "We maintain a Buy rating on the stock as we believe Palo Alto's combination of organic development and M & A allows it to drive durability of growth in an industry known for its rapid product cycles, and that its cross-sell strategy will drive superior unit economics over the long run. Key takeaways follow." Citi reiterates Snowflake as buy Citi said it's sticking with its buy rating heading into earning later this week. "We are cautiously optimistic heading into SNOW' s Q2 results that we have seen the last guidance cut from optimization headwinds." Morgan Stanley names Taiwan Semiconductor a catalyst-driven idea Morgan Stanley said the semiconductor company is a key Nvidia beneficiary. "TSMC is the sole supplier for NVDA AI GPU, so we view NVDA's October-quarter revenue guidance, due on August 23, as a key catalyst for TSMC. We would expect TSMC's share price to rise if NVDA's guidance were to beat expectations." Citi upgrades Insulet to buy from neutral Citi said shares of the insulin pump technology company are attractively valued. "Upgrading PODD to Buy: With the stock down 37% from its high (May 5, 2023) and down 29% YTD (essentially giving back the entire move from the Omnipod 5 launch), we are upgrading PODD to Buy from Neutral." Bank of America upgrades Xpeng to buy from neutral Bank of America said in its upgrade of the China electric vehicle maker that it likes the company's partnership with Volkswagen and its early mover "advantage" in autonomous driving. "We have a Buy rating on XPeng. We like its (1) early mover advantage in AD [autonomous driving] development, which could concert into service revenue as evident by its cooperation with VW, (2) new model pipeline in 2023-2025 to improve volume sales growth." Read more about this call here. Jefferies upgrades Acushnet to buy from hold Jefferies said the golf company has underappreciated value. "Looking ahead, GOLF is poised to defend its #1 share in golf balls and shoes, and gain share in #3 clubs, particularly metals, through broader appeal; while expanding margins on steady MSD% [mid single digits] revs. Upgrade to Buy, PT $84." Read more about this call here . JPMorgan initiates Restaurant Brands as overweight JPMorgan initiated the owner of brands such as Tim Hortons and Burger King and said it sees improved growth for Restaurant Brands. "We sense a sea change in this business, especially with the appointment of very widely respected former Dominos CEO Patrick Doyle in addition to numerous other executives." Bank of America reiterates Amazon as buy Bank of America said Amazon continues to gain share. "For 2Q'23, we est. Amazon's US market share grew approx. 2pts Y/Y to 36.1%. Importantly, Amazon accelerated share gains Q/Q while expanding US retail margins, enabled by efficiency gains from a new regional logistics network." Bank of America reiterates Walmart as buy Bank of America said Walmart is better positioned in the current environment over Target. "Looking forward, we continue to see opportunity for Walmart to gain additional Online share in 2023 and maintain our Buy rating." Bank of America reiterates Salesforce as buy Bank of America said Salesforce is the "next quality GARP stock." "More importantly, we believe that Salesforce remains on a path to become the next quality GARP stock." Baird names Nvidia a top pick Baird said it's bullish heading into Nvidia earnings later this week. "Our industry checks highlight ongoing and very significant momentum in AI demand for Nvidia, which should be compounded by a 2-2.5x increase in CoWoS [Chip-on-Wafer-on-Substrate] capacity next year." Read more about this call here. Loop reiterates Apple as hold Loop said the narrative around Apple remains "mixed." "As Loop has been citing for multiple quarters, the AAPL narrative is mixed at best. The muted start to CQ3 is not a surprise as consumers are awaiting the September release of the iPhone 15, but the first 6-7 weeks of the quarter are below our already cautious projections." Seaport upgrades Liberty SiriusXM to buy from neutral Seaport said in its upgrade of the media company that it sees limited downside. "We are upgrading our recommendation on LSXMA & LSXMK shares to Buy from Neutral and placing a $32 PT on each of the share classes. We think the story is cleaner now, post-reclassification, which separated out the 30% ownership of Live Nation Entertainment (LYV, Buy, PT $104) into its own tracking stock." Raymond James reiterates Marvell as outperform Raymond James said the artificial intelligence opportunity is "compelling" heading into the semiconductor company's earnings later this week. "We are looking for in-line FQ2 results and in-line to slightly weaker FQ3 outlook from MRVL. "

Salesforce signage outside its office building in New York.

Scott Mlyn | CNBC

Here are Monday's biggest calls on Wall Street:

Credit Suisse reiterates Disney as outperform

Credit Suisse said it's sticking with its outperform rating on the entertainment giant.

"Thus, to the extent investors believe, as we do, that Disney forecasts are now reasonable and earnings are marching to $5 and then $6 the next two years, favorable sentiment should return."

Goldman Sachs reiterates Palo Alto Networks as buy

Goldman Sachs said it's standing by its buy rating on the stock following its earnings report Friday evening.

"We maintain a Buy rating on the stock as we believe Palo Alto's combination of organic development and M&A allows it to drive durability of growth in an industry known for its rapid product cycles, and that its cross-sell strategy will drive superior unit economics over the long run. Key takeaways follow."

Citi reiterates Snowflake as buy

Citi said it's sticking with its buy rating heading into earning later this week.

"We are cautiously optimistic heading into SNOW's Q2 results that we have seen the last guidance cut from optimization headwinds."

Morgan Stanley names Taiwan Semiconductor a catalyst-driven idea

Morgan Stanley said the semiconductor company is a key Nvidia beneficiary.

"TSMC is the sole supplier for NVDA AI GPU, so we view NVDA's October-quarter revenue guidance, due on August 23, as a key catalyst for TSMC. We would expect TSMC's share price to rise if NVDA's guidance were to beat expectations."

Citi upgrades Insulet to buy from neutral

Citi said shares of the insulin pump technology company are attractively valued.

"Upgrading PODD to Buy: With the stock down 37% from its high (May 5, 2023) and down 29% YTD (essentially giving back the entire move from the Omnipod 5 launch), we are upgrading PODD to Buy from Neutral."

Bank of America upgrades Xpeng to buy from neutral

Bank of America said in its upgrade of the China electric vehicle maker that it likes the company's partnership with Volkswagen and its early mover "advantage" in autonomous driving.

"We have a Buy rating on XPeng. We like its (1) early mover advantage in AD [autonomous driving] development, which could concert into service revenue as evident by its cooperation with VW, (2) new model pipeline in 2023-2025 to improve volume sales growth."

Jefferies upgrades Acushnet to buy from hold

Jefferies said the golf company has underappreciated value.

"Looking ahead, GOLF is poised to defend its #1 share in golf balls and shoes, and gain share in #3 clubs, particularly metals, through broader appeal; while expanding margins on steady MSD% [mid single digits] revs. Upgrade to Buy, PT $84."

JPMorgan initiates Restaurant Brands as overweight

JPMorgan initiated the owner of brands such as Tim Hortons and Burger King and said it sees improved growth for Restaurant Brands.

"We sense a sea change in this business, especially with the appointment of very widely respected former Dominos CEO Patrick Doyle in addition to numerous other executives."

Bank of America reiterates Amazon as buy

Bank of America said Amazon continues to gain share.

"For 2Q'23, we est. Amazon's US market share grew approx. 2pts Y/Y to 36.1%. Importantly, Amazon accelerated share gains Q/Q while expanding US retail margins, enabled by efficiency gains from a new regional logistics network."

Bank of America reiterates Walmart as buy

Bank of America said Walmart is better positioned in the current environment over Target.

"Looking forward, we continue to see opportunity for Walmart to gain additional Online share in 2023 and maintain our Buy rating."

Bank of America reiterates Salesforce as buy

Bank of America said Salesforce is the "next quality GARP stock."

"More importantly, we believe that Salesforce remains on a path to become the next quality GARP stock."

Baird names Nvidia a top pick

Baird said it's bullish heading into Nvidia earnings later this week.

"Our industry checks highlight ongoing and very significant momentum in AI demand for Nvidia, which should be compounded by a 2-2.5x increase in CoWoS [Chip-on-Wafer-on-Substrate] capacity next year."

Loop reiterates Apple as hold

Loop said the narrative around Apple remains "mixed."

"As Loop has been citing for multiple quarters, the AAPL narrative is mixed at best. The muted start to CQ3 is not a surprise as consumers are awaiting the September release of the iPhone 15, but the first 6-7 weeks of the quarter are below our already cautious projections."

Seaport upgrades Liberty SiriusXM to buy from neutral

Seaport said in its upgrade of the media company that it sees limited downside.

"We are upgrading our recommendation on LSXMA & LSXMK shares to Buy from Neutral and placing a $32 PT on each of the share classes. We think the story is cleaner now, post-reclassification, which separated out the 30% ownership of Live Nation Entertainment (LYV, Buy, PT $104) into its own tracking stock."