Here’s the biggest voice on Wall Street on Monday: Jefferies reiterates its commitment to keep Tesla Jefferies raised its price target for Tesla from $375 to $400 per share. “2Q EBIT is $1.45 billion (5.1% margin), off-period EBIT is approximately 6%, and PT is raised to $400.” JPMorgan upgrades American Express from neutral to overweight The company said the stock is defensive. “While AXP trades at a slight premium to the group, we believe the premium is justified given the defensive nature of its earnings. AXP’s affluent, high-income customer base is relatively insulated from the Middle East crisis and the resulting energy strain, as these consumers spend a much smaller proportion of their disposable income on fuel.”Read more. JPMorgan starts Cardigan as overweight JPMorgan said the biotech company has a broad asset pipeline. “We are initiating coverage of Cardigan (KARD) with an overweight rating and a December 2027 price target of $51.” Morgan Stanley upgrades Keysight Technologies from equal weight to overweight Morgan Stanley said the company is well positioned in the AI space. “We upgrade to Overweight as the expanded AI network architecture expands KEYS’ opportunity set.” Jefferies upgrades Deckers from Hold to Buy Jefferies said investors should buy on Deckers’ weakness. “We particularly like HOKA’s disaggregation across more performance and lifestyles that can leverage learnings from UGG.While HOKA is the key discussion, UGG should be more durable than MKT expects.We are biased towards OM% (operating margin) upside over time, especially as oil prices normalize.MKT’s upper limit of 13% in cash is supporting the downside.” Read more. Wells Fargo is launching Atmos Energy because Mr. Wells, who is overweight, said he sees it as an attractive entry point. “We are launching ATO in OW. We believe ATO is a small exposure to TX infrastructure growth.” Wells Fargo launches MDU resources after overvaluation Wells said the company is a “solid regulated growth story.” “We are initiating MDU with OW. MDU outperformed YTD relative to UTY, with a clean business mix, organic growth, data center deals, and room for ROE improvement supporting a high-quality base plan.” Jefferies upgrades Shopify from hold to buy Jefferies said it sees some tailwinds in the near term. “We already had a positive bias for SHOP. Fundamentals are solid and agent commerce should be positive for LT.” HBSC upgrades Capital One to buy from hold HSBC said the stock is attractive at current levels. “Upgrade and Buy Capital One – Underperformance appears to be overly discounted.” Morgan Stanley reiterated that Morgan Stanley is overweight after SpaceX added the stock to its Space60 list. “Space 60 is a diverse list of publicly traded enablers across the space value chain, from raw materials to launches to satellite operators. We add SpaceX as the most vertically integrated and currently largest constituent company. We also add HawkEye 360, Applied Aerospace, and Satellogic.” Oppenheimer reiterates that Netflix is outperforming The company lowered its price target for Netflix. “While we have lowered our target to $100 (previously $120), the repeated outperformance at a historically low P/E already reflects near-term revenue headwinds from lower ad monetization and plan mix. Concerns about viewership declines are also overstated.” Citi reiterates its commitment to buy Apple Citi raised its price target to $365 per share from $315. “We remain positive on Apple stock and expect the company to continue gaining market share despite a slowdown in the device market.” Goldman Sachs upgrades Nio to buy from neutral status Goldman says volume is expected to increase. “We upgrade Nio to Buy with a 12-month DCF-based target price of USD 7.0 / HKD 55, implying 46% / 42% upside potential. Within our coverage, Nio not only has the fastest volume growth, but also has a premium margin profile and high margins / FCF in 2026E ” Rothschild & Co. Redburn launched Fastenal after Rothschild acquired the company as a “best-in-class operator.” “Fastenal (New, Purchase) provides the clearest evidence that a transition is underway across high-service distributors.” Mizuho Reiterates NVIDIA Outperforming Mizuho said it is holding firm on the stock price. “We believe NVDA remains the leader in AI training and inference chips for data center applications (we estimate today’s share at more than 75%).” UBS said it will upgrade Solstice Advanced Materials to acquire from neutral UBS and buy out the specialty materials company’s decline. “The decline in SOLS is a buying opportunity that could play out in multiple scenarios.” Trust Upgrades Biogen to Hold Buy In upgrading the stock, Trust took a bullish view on the company’s Alzheimer’s disease drug Tau. “BIIB – Upgrade to BUY at $235 PT. Bullish on Tau, adds pipeline value to model as key data to reduce data read risk.” KeyBanc launches SiteOne as overvalued Key says the landscaping company is an industry leader. “We begin coverage of SiteOne (SITE) with an overweight rating and a PT of $145.” Needham acquired Park Aerospace, which it said is “a leading supplier of advanced composite materials for the aerospace and defense markets.” “We are initiating coverage on PKE with a Buy rating and $43 price target.” Jefferies upgrades BeOne from Hold to Buy Jefferies called the biotech company “impressive.” “ONC is the story of quality hematology…” Piper Sandler started Equillium because overweight Piper said biotech companies were undervalued. “We begin coverage of Equillium, Inc. (EQ) with an OW rating and $20 PT…” Citi begins acquisition of Bel Fuse Citi said the niche connector company is reinventing itself. “We initiate coverage on Bell Hughes (Class B) with a Buy rating and $325 price target…” Goldman Sachs initiates Praxis Precision Medicines as Buy Goldman said the biotech company is highly attractive. “We start with a buy rating and 12-month price target of $447 with coverage on Praxis Precision Medicines (PRAX).” Goldman Sachs acquires Stock Therapeutics, Goldman says the company has “blockbuster potential.” “We begin coverage on Stoke Therapeutics (STOK) with a buy rating and a 12-month price target of $44. ” Bank of America upgrades Saia to neutral purchase status Bank of America said it believes there are “attractive opportunities” for shippers. “We are raising our rating on SAIA stock from Neutral to Buy as we see increasingly constructive demand signals from the unique service/productivity/yield improvement opportunities in our BofA truckloader research and attractive valuation relative to peers. Bank of America Downgrades Papa John’s from Neutral to Underperform The bank said it sees too many negative factors for Papa John’s. “Former CFO Ravi Tanawala’s departure to AEO could allow him to return to his old industry, but we believe it is unlikely that he would have left his position in less than three years, even if we believed a radical change of direction was imminent.” Guggenheim launches BrightSpring as acquisition The company says the home health care company has a lot of upside. “We enter coverage on BrightSpring Health Services, Inc. (BTSG) with a buy rating and a price target of $81.” Benchmark leads on Disney acquisition Benchmark said Disney has a “strong” platform. “We initiate coverage of The Walt Disney Company (NYSE:DIS) with a Buy rating and $115 PT based on a 17x multiple applied to FY26 AEPS estimates.” Loop Downgrading Best Buy from Buy to Hold The company downgraded the stock based on valuation. “We downgrade Best Buy shares from a buy rating to a hold rating while maintaining our $82 price target.” Wells Fargo upgrades Humana from equal weight to overweight Wells said he sees reduced risk. “While we were concerned about HUM’s MA (Medicare Advantage) underwriting and membership growth going into 2026, we now believe that softening cost trends have significantly reduced earnings risk.” Benchmark enters deep fission as a buy Benchmark said the SMR company has a lot of upside potential. “We are beginning coverage of Deep Fission with purchase and $20 PT. Deep Fission is developing a small modular reactor (SMR), gravity reactor, based on pressurized water technology that offers significant cost and other advantages compared to conventional water reactors.”
