Wall Street Updates – Monday Highlights

Here’s a rundown of some key Wall Street insights shared on Monday:

Bank of America on Apple: While Bank of America adjusted its price target for Apple down to $320 from $325, it remains optimistic about a foldable iPhone expected in 2026. They emphasized a price-to-earnings ratio of 32 times their earnings estimates for 2027, which stands at $9.94.

Morgan Stanley’s View on CEMEX: The financial firm upgraded CEMEX from equal weight to overweight, citing a robust balance sheet. They believe the company is well-positioned in terms of margins, entering a healthier position compared to 2022.

Bernstein’s Confidence in Nvidia: Bernstein reaffirmed its “outperform” rating on Nvidia. They pointed out that while opportunities in data centers look promising, it’s early in the game, indicating room for growth.

Morgan Stanley on Cheniere Energy: The firm upgraded Cheniere Energy, predicting better margins and promising growth. They noted the company’s portfolio provides stable cash flow across various commodity price environments.

Stifel’s Take on Valvoline: Stifel upgraded Valvoline to a buy, suggesting that current stock prices present an attractive entry point, especially since concerns about base oil inflation and gasoline prices seem heavily priced in.

Mizuho’s Upgrade for MongoDB: Mizuho upgraded MongoDB from neutral to outperform, suggesting strong growth drivers are in play. They set a new price target at $325, up from $290.

Morgan Stanley Upgrades Brookfield Infrastructure Partners: Morgan Stanley has also raised Brookfield’s rating from equal weight to overweight, labeling it as a strong buy after a slow start this year.

Barclays on Tesla: Barclays maintained its position on Tesla, cautiously optimistic about the company’s future and its recent developments in chip technology, which they consider crucial for growth in the upcoming decade.

Morgan Stanley on Banco Santander: The firm upgraded Banco Santander, seeing potential in the stock as pricing has dipped, stating its forward P/E estimate is attractive at below 6.5x.

Wells Fargo’s Top Pick – Levi Strauss: Levi Strauss was chosen as Wells Fargo’s top pick. They believe that although the stock hasn’t performed well lately, margin visibility is expected to improve in the coming periods.

Bank of America on Dell: Bank of America expressed its intent to acquire Dell, raising its target price to $172 from $155, based on future earnings estimates.

Citigroup on AT&T: Citigroup reiterated its acquisition intention regarding AT&T, increasing its price target from $29 to $31.50, anticipating favorable movements related to upcoming earnings.

Morgan Stanley and GE Vernova: Lastly, they reiterated their overweight rating on GE Vernova, increasing the price target to $960 from $817, citing positive trends in turbine demand and electrification.