Here are the biggest voices on Wall Street on Tuesday: Morgan Stanley reiterates Nvidia as overweight Morgan Stanley said Nvidia laid out a “winning strategy” at Monday’s GTC conference. “The central message is that NVIDIA-based inference has a clear cost per token and provides better leadership with Rubin. Our checks are consistent. Financial comments are positive but modest, and we like it. We repeat our top pick.” Deutsche Bank Buys Uber, and Deutsche Bank reiterated that it is bullish on the company’s partnership with Nvidia. “We believe Uber’s newly announced expanded partnership with NVIDIA marks another milestone that formalizes and meaningfully expands on our previous agreement.” BMO opens Navan with an outperformance BMO sees compelling risks and rewards for travel companies. “We begin coverage of NAVN (NAVN) on Outperform with a price target of $13.”Read more. Needham Reiterates Buying Amazon Needham says Amazon is best positioned when it comes to AI. “As AMZN owns the largest product catalog, fulfillment network, pricing data, reviews, consumer purchase information, and merchant relationships, we believe AI agents will be an additional source of demand for AMZN’s backend and support sales growth.”Morgan Stanley Upgrades Lemonade from Equal Weight to Overweight The bank says it likes the company’s partnership with Tesla. “Lemonade’s partnership with Tesla is an important first step, giving Lemonade a first-mover advantage in data analysis and field experience. Lemonade offers a 50% discount on auto insurance when Fully Self-Driving (FSD) is implemented in Tesla vehicles, but the company maintains underwriting discipline based on the quotes we have seen.” Read more. Wells Fargo upgrades Dover from equal weight to overweight Wells said the industrial conglomerate was well positioned during the Middle East wars. “If conflict continues, DOV limits Middle East exposure, pricing power against any inflationary pressures, dry powder on equity repos, and AI disruption risk if thematic overhang persists.” Barclays upgrades Align Technology from equal weight to overweight. Barclays says the dental company is too attractive to ignore. “The Middle East conflict has resulted in a 15% decline from recent February highs, improving risk and return. Indeed, if the conflict drags on, our judgment may prove premature. However, we believe ALGN, trading at 10x EBITDA, is well positioned to benefit post-conflict. PT $200.” Read more. Raymond James rates WP Carry to outperform market Raymond James says the real estate company’s stock is attractive. “We move WPC from market perform to outperform. Reloading the balance sheet should support upside in investment volumes in 2026. Attractive investment spreads, low cost of capital (bond issuance in Europe).” HSBC downgrades Eli Lilly, downgrades from hold HSBC says the total addressable market for weight loss drugs is smaller than investors think. “Due to downward revisions to the market’s medium-term outlook, we have downgraded Lilly’s stock to Reduce (from Hold), resulting in a revised price target of $850 (from $1,070). We believe Lilly’s stock is perfectly priced, are uncomfortable with working capital trends, and believe medium-term earnings trends are optimistic.” Citi upgrades Latam Airlines to acquire from neutral Citi says the company is best positioned for disruption in the oil market. “Oil prices remain volatile and the situation is fluid, but the initial shock for Latin Airlines appears to have been well priced in, and we see the airline in a better position to face higher fuel prices than in 2022. Latin American Airlines is clearly the least risky, with Copa being close, but Aeromexico and Volaris may face greater challenges going forward.” Stifel upgrades Icor Holdings to Hold Buy. Stifel said the liquid supply subsystem company’s growth is accelerating. “When we exited last year, we expected 2026 to be a transition year for Icor. But since then, it has become clear that cyclical conditions are not only strengthening, but accelerating.” Raymond James Upgrades MSCI from Outperform to Strong Buy The investment bank says the company’s AI risk is limited. “We are upgrading MSCI stock from Outperform to Strong Buy, making it a top priority stock in our coverage area. Our thesis is: (1) Sales momentum is shifting positively. (2) MSCI faces very limited AI risks. (3) The company and its CEO are putting money behind their backs.”Morgan Stanley reiterates that Tesla is overweight Morgan Stanley says Tesla’s semiconductor manufacturing ambitions are still “many years away.” “As Tesla expands its AI ambitions to FSD, robotaxis, and ultimately Optimus, access to AI computing is increasingly emerging as a potential constraint. In our view, any moves toward internal capabilities will be aimed at supporting these internal efforts and stakeholders, rather than external organizations.”
