Here are the biggest calls on Wall Street on Tuesday: Stifel reiterates Nvidia as buy Stifel says it is bullish heading into Nvidia earnings on Wednesday after the bell. “In aggregate estimates have been moving higher for FY26 and FY27 and we believe that a diverse set of data points support the positive revisions. Consequently, we are raising our estimates and bumping our Target Price to $180, up from $165.” Morgan Stanley reiterates Apple, Microsoft and Meta as overweight The firm says “mega-cap tech under-ownership narrows” in the third quarter but that it is sticking with all three stocks. ” MSFT remains the most under-owned mega cap tech stock we track (AAPL 2nd), while META remains the most over-owned.” Barclays initiates Okta as equal weight The firm says the identity access management company is fairly valued. ” Okta competes in the $20B+ identity and access management (IAM) market, which is growing high-teens and where share is consolidating.” UBS upgrades Comfort Systems to buy from neutral UBS says the HVAC company is a beneficiary in tech and data center cooling. “We are upgrading FIX to Buy with a $525 price target. We expect cyclical tailwinds in Manufacturing (reshoring) and Tech/Datacenters (AI) — combined 60% of revenue — should support continued double-digit organic growth in the next two years.” Jefferies reiterates Uber as buy Jefferies says investors should buy the dip in Uber shares. “We believe recent weakness creates a more attractive entry point for UBER given our analysis shows the near-term impact to rideshare will be minimal and our view that robotaxi fleets are best off partnering w/ rideshare.” UBS upgrades American Water Works to buy from neutral UBS says it sees “consistent” total returns for the water company. ” AWK’s recent $1 bln increase in the capital plan and our meetings with management at the Edison Electric conference give us increased confidence AWK can deliver its consistent 8% EPS and DPS [dividend per share] growth through ’28 despite the ’27 expiration of $0.30 of interest income on secured notes.” Needham initiates Joby as buy The firm says the air taxi company is best positioned. “We initiate coverage of JOBY with a Buy rating and an $8 price target.” Piper Sandler downgrades Kraft Heinz to neutral from overweight Piper Sandler says the thesis is taking longer to play out for shares of Kraft Heinz. “We are downgrading to Neutral, as our thesis of improving retail momentum with a catalyst from incremental foodservice initiatives depended on improvement at retail that hasn’t materialized, and is still likely 2-3 quarters away.” Piper Sandler initiates Apollo Global as overweight Piper Sandler says the private equity company is well positioned. ” APO is at the center of several key secular themes. 1) There is a continually growing TAM [total addressable market] via product and demographics addressing the silver tsunami that is the baby boomer generation. 2) Which investments are considered safe and risky has changed given changes in perceptions of private and public markets.” Jefferies reiterates Netflix as buy The firm raised its price target on the stock to $1,000 per share from $800. “We view the disclosure of 60M households watching the Paul – Tyson fight as a major breakthrough for NFLX’ s live events strategy and a catalyst for attracting ad dollars away from the $50B+ US Linear TV market. These stats increase our confidence that the Christmas Day NFL games should outperform Linear viewership providing another catalyst to accelerate ad growth.” TD Cowen names United a best idea TD Cowen says the stock is a best idea heading into 2025 as “upside exists from domestic share gains, increasing corporate traffic and maturing international routes.” “We believe UAL is best positioned among its peer group due to its array of idiosyncratic tailwinds on top of favorable industry fundamentals.” TD Cowen names Datadog a best idea The firm says the stock is a top idea in 2025. “We see DDOG as the largest consolidator in the market w/ ripe share gain opportunities, strong cloud leverage, & ramping FCF production.” Bank of America upgrades Bank of Nova Scotia to buy from neutral The firm says the turnaround is underway for the Canadian bank. “We upgrade our rating on Scotiabank- BNS to Buy based on our view that the Street is under appreciating the progress afoot to turnaround the franchise under CEO Scott Thomson.” Morgan Stanley initiates WeRide as overweight Morgan Stanley says it is bullish on the autonomous driving company. “We are constructive on WeRide’s solid order pipeline in robotaxis & robovans, which it expects will reach large-scale commercialization by 2026. We initiate at OW.” Evercore ISI upgrades BioNTech to outperform from in line The firm says the biotech company has a robust oncology pipeline. “We are upgrading BNTX t o OP with a $125 PT. We’ve been growing increasingly constructive for some time now. The u/g call is a combination of opportunism, value (both relative & absolute), and an increasingly compelling fundamental outlook around the company’s deep and staggered oncology pipeline.” JPMorgan upgrades Newmont Mining to overweight from neutral JPMorgan said in its upgrade of Newmont that it sees a slew of positive catalysts ahead for the metals and mining company. “The company has a solid track record of organic and inorganic growth. The stock trades below our valuation and we assign an Overweight rating.”
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