Here are Monday's biggest analyst calls: Tesla, Nvidia, Verizon, Apple, McDonald's, Birkenstock, AT&T, Meta & more

Published Mon, Jul 1 20248:19 AM EDTUpdated Mon, Jul 1 20249:27 AM EDT

Here are Monday's biggest calls on Wall Street: UBS reiterates Apple as neutral UBS said its survey checks show that Apple's iPhone is losing market share in China. "In the month of May, iPhone 'sell-through' remained soft declining 2% YoY (Source: Counterpoint), the 5th consecutive monthly YoY decline." Morgan Stanley reiterates Nvidia as overweight Morgan Stanley raised its price target on the stock to $144 per share from $116. "Following our Taiwan note last week and our China note tonight, both of which have positive NVDA centric data points, we are raising CY25 estimates, and bringing our PT from $116 to $144." Goldman Sachs initiates Verizon and AT & T as buy Goldman said it's bullish on shares of several telecommunications companies. "Positive on wireless & datacenters, cautious on cable given shifting competitive landscape; Buy VZ, T, DLR." UBS upgrades Birkenstock to buy from neutral UBS said it has "new conviction in the upside" for shares of the show company. "Our upgrade of BIRK is based on: 1) BIRK is successfully executing its DTC expansion strategy better than we expected. 2) We see BIRK ramping rapidly in Asia-Pac." Stifel initiates Gauzy as buy Stifel said it's bullish on shares of the glass-solutions company. "We are initiating coverage of Gauzy with a Buy rating and $18 12-month price target." Wells Fargo adds Tesla to the tactical ideas list Wells said it's sticking with its underweight rating on the stock but is adding it as a tactical underweight for the third quarter. "We have an Underweight rating on TSLA . We see declining delivery growth driven by lower demand & diminished return on price cuts. We estimate auto gross margin ex credits fall by ~210bps y/y given likelihood of more price cuts & lower volumes." JMP initiates Gannett as market outperform JMP said it sees "multiple levers for deleveraging" for the media company. "We initiate coverage of Gannett with a Market Outperform rating and $6 price target." Loop reiterates Academy Sports as buy Loop said the sporting goods retailer remains a top idea. "We are encouraged by Academy's continued price competitiveness, with the company offering the same or a lower price on over 90% of the items we surveyed." Piper Sandler upgrades Teleflex to overweight from neutral Piper said it sees a slew of positive catalysts ahead for the medical supplier company. "We are upgrading shares of TFX from Neutral to Overweight this morning." Wells Fargo reiterates McDonald's as overweight Wells said it's standing by its overweight rating on shares of McDonald's. "All in, we like risk/reward at 19x, with easing compares, upside potential as 2H drivers unfold and unit growth accelerates." JPMorgan initiates Amkor as overweight JPMorgan said it's bullish on shares of the semiconductor supplier. "We initiate coverage on Amkor Technology (AMKR, $10B market cap) with an Overweight rating and Dec-25 price target of $48." Deutsche Bank reiterates Walmart as buy Deutsche raised its price target on the stock to $77 per share from $71. "Increased visibility into WMT's earnings power from its high-margin alternative businesses – allowing the market to value its two businesses separately – will result in further multiple upside, in our view, making the investment case on WMT compelling." Goldman Sachs upgrades Intercontinental Exchange to buy from neutral Goldman said it sees upside for the markets and exchange company. "We upgrade ICE to Buy from Neutral with a $167 12-month price target, 22% upside." TD Cowen initiates W.R. Berkley as buy TD said it sees "solid growth and returns" for the insurance company. " WRB's specialty focus and prudent reserving position it for robust premium growth and risk-adjusted returns." RBC downgrades NextEra Energy Partners to sector perform from outperform RBC downgraded the energy company and said it sees too many negative catalysts. "Ultimately, we believe the model will not be able to sustain a long-term 5-8% dividend growth, forcing NEP to evaluate a dividend cut.' Goldman Sachs reiterates Snowflake as buy Goldman added the stock to its July conviction list. "We add Fox Corp (FOXA), Global-E Online (GLBE) and Snowflake (SNOW) to the Americas Conviction List, while removing Monday.com (MNDY) and Quanterix (QTRX)." Raymond James initiates AxoGen as outperform Raymond James said it's bullish on shares of the nerve regeneration company. "We are initiating coverage on AXGN with an Outperform rating and a $13 price target." Morgan Stanley reiterates Rivian as overweight Morgan Stanley said it's sticking with its overweight rating on the EV company following its investor day last week. "In our view, when business historians look back at Rivian, whatever success or challenges they faced were not due to a lack of available funding. Its future will be determined by its ability to provide a service where its revenues can exceed its costs." Raymond James reiterates Meta as strong buy Raymond James raised its price target on Meta to $600 per share from $550. "We raise our price target to $600, based on a 25x P/E multiple on our '25 estimates vs S & P at 20x, to reflect our bullish stance on GenAI monetization across Llama and consumer/business ad opportunities on platform."