Here are Monday's biggest analyst calls: Nvidia, Alphabet, Salesforce, Arm, CVS, BJ's, Super Micro & more

Published Mon, Feb 26 20248:36 AM ESTUpdated Mon, Feb 26 20246:11 PM EST

Here are the biggest calls on Wall Street on Monday: Goldman Sachs reiterates Nvidia as buy Goldman stood by its buy rating on Nvidia. "We view Nvidia , given its dominant competitive position in accelerated computing, as the key enabler of Generative AI development across the large cloud service providers, enterprises spanning a wide range of industry verticals, and sovereign states." Morgan Stanley reiterates Target at overweight Morgan Stanley stood by its overweight rating on the department store owner. "Our base and bull cases are in part predicated on comps rebounding in '24 and into '25, augmenting TGT' s margin recovery." Morgan Stanley reiterates Salesforce as overweight Morgan Stanley said it likes the setup heading into earnings later this week. "Stable checks, price increases, and an easier constant-currency bookings comp present a favorable set-up into Salesforce's FQ4 earnings, while valuation remains undemanding." Rosenblatt reiterates Arm as buy Rosenblatt raised its price target on the stock to $180 per share from $140. "We see ARM's P/E multiple supportive of 50%+ levels given secular and royalty shifts we see at ~10% by end of decade if not sooner." BMO upgrades MediaAlpha to outperform from market perform BMO said in its upgrade of MediaAlpha that the software publisher is compelling. "Upgrade to Outperform; Still Many More Qtrs of + EPS Revisions as Insurers Heal." Jefferies initiates Apollo Medical as buy Jefferies says the medical company is underappreciated. " AMEH is an under-followed company with a long history of execution ( > 30 yrs) in value-based care that has made recent strides to modernize the business." Goldman Sachs initiates Amer Sports as buy Goldman says the sports equipment company is "compelling." "We view AS as a compelling portfolio of premium, innovation-led brands with healthy growth opportunity." Wells Fargo reiterates Citi as a top pick Wells stood by the Jane Fraser-led bank as a top pick. " Citigroup (rated Overweight) is, in our view, in the mid stages of resolving its regulatory consent order regarding the need to modernize systems (data, controls, compliance, risk)." Bank of America reiterates Super Micro as buy Bank of America says Nvidia's earnings report last week is positive for Super Micro. "Super Micro is a Silicon Valley-based provider of accelerated, high-performance & high-efficiency server and storage systems for a variety of markets including enterprise data centers, cloud computing, artificial intelligence, 5G and edge computing." Wells Fargo names Corteva as a top pick Wells says the ag chemical company is a new top pick. "Following 4Q results, we move CTVA to our Top Pick for 2024 as we have increased confidence on progress toward 2025 targets. Roth MKM initiates PodcastOne as buy Roth is bullish on shares of the podcast company. "We are initiating coverage of PodcastOne (PODC), a top-ten U.S. podcast network, and the only pure-play podcast U.S.-listed stock." TD Cowen names KKR a top pick TD said the stock is a new top pick at the firm. " KKR replaces APO as our top pick, with the change reflecting YTD price action, residual upside and ST/intermediate term catalysts." DA Davidson adds BJ's to the best-of-breed list DA said the warehouse club is best-in-class. "We are adding BJ's Wholesale Club as our next 'Best-of-Breed Bison' company within the framework developed by D.A. Davidson's research team to find long term, best in class companies with sustainable moats and favorable risk/reward dynamics." Morgan Stanley upgrades HashiCorp to overweight from equal weight Morgan Stanley said the software company has a compelling valuation. "A Cloud Resurgence Starts to Benefit Hashi; Upgrade to OW and Raise PT to $30." Morgan Stanley upgrades AvalonBay to overweight from equal weight Morgan Stanley said apartment REIT stocks like AvalonBay are '"cheap for a reason." "Stay selective w/ just 1 OW: upgrade AVB to OW on best growth & conservative guide." Susquehanna upgrades Fluence Energy to positive from neutral Susquehanna said investors should buy the dip in shares of the energy stoage company. " Fluence Energy : Upgrading to Positive on Recent Pullback, Fundamentals Remain Strong." HSBC downgrades Moderna to reduce from hold HSBC downgraded Moderna citing "pipeline derisking." "Downgrade to Reduce from Hold but lift TP on pipeline derisking to USD86 from USD75, implying 13.5% downside." Melius reiterates Alphabet as hold Melius says shares in the Google and YouTube owner are "cheap," but that the firm is cautious on the stock. "At 21x '24 EPS Google's parent, Alphabet, may be trading at its proper place – i.e. close to a market multiple." KBW upgrades Fannie Mae to outperform from market perform KBW said in its upgrade of Fannie and Freddie that they will outperform in a "close election." "Upgrading FNMA & FMCC to Outperform; Likely to Outperform in a Close Presidential Election." Leerink initiates CVS as outperform Leerink says CVS has "cash potential." "Headwinds...but Lots of Cash/Potential w/Biz Model Update; Initiate OP, $88 PT." Bank of America initiates Monday.com as buy Bank of America said the project management software company is a "category leader." "We initiate coverage of monday.com (MNDY) with a Buy rating and $280 price objective. A leader in the $12.5bn+ collaboration software market, our analysis suggests MNDY is positioned to grow revenues at a CAGR of 30% through FY26. Truist initiates Phreesia as buy Truist said in its initiation of the healthcare solutions stock that it's well positioned. "As one of the leading providers of access, registration, revenue cycle, and network connect solutions for healthcare organizations, we believe PHR is well-positioned to benefit from the tailwinds supporting the large and growing patient engagement market." Bank of America initiates Asana as buy Bank of America said investors should buy the dip in shares of the software company. "We initiate on Asana (ASAN), a leading work management platform that helps with daily tasks up to company-wide initiatives, at Buy with a PO of $25 (39% upside)." Wells Fargo upgrades Omega Healthcare to overweight from equal weight Wells said it's getting bullish on shares of the real estate investment trust. "We are upgrading OHI to Overweight from Equal Weight and revising our price target to $35 from $31." Morgan Stanley upgrades Sun Country to overweight from equal weight Morgan Stanley said it likes the airline's business model. "We like SNCY's unique business model and believe its three segments makes it the most defensive Ultra Low Cost Carrier." Piper Sandler upgrades Celanese to overweight from neutral Piper said the chemical maker is making "meaningful progress" after its late 2022 purchase of DuPont's Mobility & Materials unit for $11 billion. "We see 2024 as a critical transition year for CE, where they reduce the sizable overhang of the debt taken for the transaction and move toward a period of constructive cash allocation which begins to benefit investors." JPMorgan upgrades Gap to neutral from underweight JPMorgan said it sees Gap's inventory "right sized." "Bottom-Line Flow-Through Focus For Specialty Softlines: We upgrade GPS to Neutral with our recent fieldwork pointing to (i) Old Navy/Gap stability (at ~80% of sales) with inventory right sized as of 4Q22." Rosenblatt upgrades Bentley Systems to buy from neutral Rosenblatt upgraded the software company ahead of earnings on Tuesday. " Bentley is set to report Q4/FY23 results on Tuesday, February 27th before market open with a conference call at 8 am ET." Correction: An earlier version misstated the rating Melius has on Alphabet. The firm rates the tech giant as hold.