Here are Tuesday's biggest analyst calls: Tesla, Rivian, Apple, Domino's, Levi's, Meta, Micron and more

Published Tue, Sep 26 20238:22 AM EDTUpdated Tue, Sep 26 202312:13 PM EDT

Here are Tuesday's biggest calls on Wall Street: Baird names Rivian a fresh pick Baird named the electric vehicle maker a top idea and says investors should buy the weakness. "We see Q3 deliveries as a near-term catalyst and expect sentiment to improve as RIVN continues to realize cost benefits from an improving supply chain and the use of in-house components." UBS reiterates Levi Strauss as buy UBS said Levi Strauss' earnings will be less bad than feared in early October. "The global consumer spending environment for apparel has been choppy. However, we believe LEVI has performed modestly better than peers and will be able to maintain its FY23 EPS guidance." Morgan Stanley upgrades Barclays to overweight from equal weight Morgan Stanley it sees an improved revenue outlook for Barclays . "We also see room for capital efficiency and up our distribution, which combined turns us Overweight the stock, trading on < 5x PE & 12% yield. Read more about this call here. Oppenheimer names Domino's a top pick Oppenheimer named Domino's a top pick and said the downward revision cycle has "bottomed." "Our analysis suggests SSS [same-store sales ]have tangible drivers to bend trends above consensus in '24 which could: 1) drive positive earnings revisions, 2) validate unit growth restoration, and 3) repair investor sentiment." Read more about this call here. Stifel upgrades Wingstop to buy from hold Stifel said it sees menu innovation for Wingstop . "We believe the company is poised to successfully lap difficult comp comparisons in the 2H23 as menu innovation and delivery channel growth, augmented by rapid expansion in the national ad fund, continue to build top-of-mind awareness and drive incremental usage." Bank of America reiterates Meta as buy Bank of America said it's bullish heading into Meta's annual Connect conference Wednesday. "Given Meta's increased focus on integrating Al across surfaces, and CEO commentary on AI Agents on prior earnings calls, we believe the event may also include announcements on new AI/ML products." JPMorgan reiterates Apple as overweight JPMorgan said its checks show iPhone lead times are "expanding rapidly relative to prior cycles." "In Week 2 of our Apple Product Availability Tracker, lead times are predictably peaking similar to prior launch cycles; however, lead times are expanding rapidly relative to prior cycles." Baird reiterates Tesla as outperform Baird said it's standing by its outperform rating on shares of Tesla. "We continue to believe TSLA is best positioned among its peers and recommend as a top pick for 2H23." Jefferies upgrades Flowserve to buy from hold Jefferies said it sees margin expansion for the pump manufacturer. "We upgrade Flowserve to Buy based on: 1) constructive outlook for energy investment, 2) margin expansion driven by higher volumes and cost savings initiatives." Oppenheimer upgrades Edwards Lifesciences to outperform from perform Oppenheimer said shares of the med-tech company are attractive. "We are upgrading Edwards to Outperform from Perform with a $90 PT. Our rating change reflects our fundamental belief: 1) Risk-reward profile is attractive at these levels. At 6.4x FY24E sales, we certainly are not trying to predict the bottom. 2) GLP-1 fears vis-à-vis structural heart are misplaced, at least in the short-medium term." JPMorgan upgrades DraftKings to overweight from neutral JPMorgan said investors should buy the dip. "We are taking advantage of sluggish share price performance since late July given what we continue to think is an appealing sector, with attractive same-store and new market growth prospects, against the backdrop of an industry-wide improving operating expense control environment." Goldman Sachs reiterates Nike as buy Goldman Sachs said it's standing by its buy rating heading into earnings later this week. "Given Nike's signiﬁcant exposure to the Greater China market, slowing G