Here are Monday's biggest analyst calls: Tesla, Netflix, Disney, Amazon, Alphabet, Nike, Costco & more


Here are the top Wall Street calls for Monday: Canaccord reiterates Tesla’s position as a buy Canaccord is bullish about the automaker’s development of fully-self driving technology. As we explained in our AI for the Streets autonomous vehicle (AV), Tesla’s FSD offering is a novel one: a map-less neural-network-only camera system (no lidar, no radar and other sensors). UBS reiterates Netflix’s buy rating UBS has said that it will not change its buy rating for the shares of streaming giant. Netflix is the biggest beneficiary of the easing of competition in DTC, as competitors focus on profits. Morgan Stanley confirms Ambarella’s overweight Morgan Stanley is bullish about the shares of this semiconductor company as it heads into earnings next week. AMBA (OW) is scheduled to report on Tuesday, August 29, after the close of market. “We think the near-term environment will continue to be challenging due to challenges in the surveillance cameras market. However, we see progress in the automotive pipeline and in China, as well as new opportunities in the AI Inference market.” UBS reiterates Disney’s buy rating UBS stated that it is standing by its buy ratings on the shares of entertainment giant. We believe Disney has the strongest traditional Media network in DTC due to its global scale and collection of IP. JMP introduces Pagaya Technologies to the market as an outperform JMP stated that the digital marketplace lender was well positioned. Pagaya Technologies is the first company we cover with a Market outperform rating. Our price target for Pagaya Technologies is $2.75. This represents a 40% increase from current levels. Piper Sandler upgraded Mister Car Wash from neutral to overweight Piper stated that it sees a “notable upward trend” for the company. We are upgrading MCW from neutral to overweight and increasing our PT by $12 (25x EPS 2025E, vs. prior 2024E) because we expect significant upside in estimates over the next 2 years – allowing valuation multiples to expand off of current all-time-low levels for MCW. Bernstein downgrades L3Harris from outperform to market perform Bernstein stated that it saw margin contraction at the defense contractor. We still see LHX’s top line growing strongly, supported by increasing backlogs. However, the margins are still a problem due to supply chain problems, inflation in fixed-price contracts and execution. Evercore ISI upgrades JetBlue from underperform to in line Evercore upgraded the airline’s stock mainly based on valuation. “Raising JBLU’s rating to In Line From Underperform Following 35% drop in shares since July downgrade.” UBS introduces 89bio to its buy list UBS stated that the company has more upside in their initiation. “We initiate coverage for 89Bio with a Buy Rating and PT at $36.” Bank of America reiterates Alphabet’s buy rating Bank of America has said that it is standing by its buy ratings on Alphabet shares. We continue to like Alphabet for its potential 2H’23 growth in search revenue and year-over-year margin improvement. UBS launches Akero Therapeutics with a buy UBS stated that the biotech company was well-positioned and could rally by more than 70%. We initiate coverage of Akero Therapeutics with a Buy Rating and PT $83.” Click here to read more about this call. RBC initiated Tetra Tech stock as a buy RBC stated in its initiation that the stock is a “unique water play.” ” Tetra Tech is a specialized Engineering firm that offers investors unique sustainability-aligned end-market exposure, a strong track record of growth, and a significant U.S. presence, positioning it well amidst the current infrastructure investment cycle.” Jefferies confirms Amazon’s position as a buy Jefferies stated that its recent survey checks showed the ecommerce giant was well-positioned for back to school. Notably, 31% say that they will be doing most of their shopping at AMZN. AMZN’s unmatched eCommerce platform and assortment position them well for the back-to school shopping season. Morgan Stanley reduces CrowdStrike’s weight to equal from overweight Morgan Stanley is cautious going into earnings this week. We are cautious about CRWD’s FQ2 results this week, as the consensus estimates of 2H/CY24 recovery appear high due to a more challenging demand environment. You can read more about this conference call here. Morgan Stanley names LifeStance Health Group as a top pick Morgan Stanley stated that shares of the behavioral healthcare company are compelling. “We are moving LFST up to Top Pick, with over 30% upside on our $10 PT. We view the recent pullbacks as a compelling opportunity for investors that missed the earlier move this year.” Canaccord recommends Surf Air Mobility for purchase Canaccord is bullish about the shares of this air mobility company. Surf Air Mobility plans to expand its national operations quickly by developing new software, financing platforms, and a robust pipeline of pilot training. Surf will also enable small-scale commercial operators and develop its own fleet. BTIG upgrades Zimmer Biomet from hold to buy BTIG says the share price declines of the medical devices company are excessive. “We upgrade Zimmer Biomet (ZBH), from Neutral to Buy. We establish a $139 PT, based on our 17x estimated 12-month EPS estimate. This is a discount compared to its average 3- and 5-year valuation. … . “While our upgrade is partially based on valuation, we believe the sell-off after the CEO transition has been a bit overdone.” Wells Fargo upgraded UGI Corporation from equal weight to overweight. Wells stated that shares of the natural-gas company are compelling. We believe the valuation is attractive enough to invest in UGI, despite its challenges. We are confident that UGI has no immediate equity requirements and (2) UGI will not be pursuing large acquisitions in the near future. Truist upgraded Church & Dwight from hold to buy Truist said that the company was largely “out the woods.” The company has just posted strong 2Q results, and for the second consecutive year raised its guidance above that of the Street. These results are an indication that the company, and its categories, have largely recovered from the post pandemic reversion. Wolfe initiates Workiva as outperform Wolfe said it sees expanding margins for the software-as-a-service company. The Workiva story is simple, with a strong installed base, diverse competition and an expanding TAM, Workiva has the opportunity to accelerate growth and rapidly expand margins. Stifel confirms Nike is a buy Stifel has lowered its target price on the stock from $143 to $135 and calls it a “top-dog” in their back-to school survey. “A NIKE Style was cited as most popular in 88% back to school checks 2023, supporting NIKE’s large popularity margin compared to other brands. The continued consumer demand for retro basketball styles was a major factor in NIKE’s strength. Bank of America reiterates Endeavor Group’s buy rating Bank of America stated that the media company had “highly compelling assets,” which are “undervalued.” We continue to view EDR a collection highly compelling assets, which each individually have exposure to favorable, secular tailwinds in the Media and Entertainment Industry. Morgan Stanley reiterates Costco AutoZone and Walmart, as overweight Morgan Stanley listed several retail stocks as its favorite ways to play the deteriorating consumer climate. “We remain cautiously positioned and prefer defensives such as WMT (OW-rated), AZO(OW-rated), COST(OW-rated)and ORLY (EW-rated). “