Here are Monday's biggest analyst calls: Nvidia, Jersey Mike's, Dell, Chipotle, Marvell, CoreWeave & more
Here are the biggest calls on Wall Street on Monday: UBS upgrades Celestica to buy from neutral UBS says it sees “AI-driven demand.” “We upgrade Celestica to Buy from Neutral and raise our price target to $430.” Citi initiates Reformation as buy Citi says the clothing company is “unique.” “We are initiating coverage of Reformation with a Buy rating and a $20 target price. We view REF as a unique brand/retailer with an attractive store growth opportunity.” Morgan Stanley initiates Jersey Mike’s as overweight Morgan Stanley says the company is firing on all cylinders. ” JMKE is a robust franchised business and long-standing share taker in a large but mature segment.” Morgan Stanley initiates ArcelorMittal as overweight Morgan Stanley says the steel company has plenty of upside. “We are initiating on MT’s ADR at Overweight with a US$82 Price Target…” Baird upgrades Darden to outperform from neutral and downgrades Chipotle to neutral from outperform The firm upgraded Darden and says it’s a core holding. Baird also downgraded Chipotle and says it’s concerned the company will have to “spend more to grow less.” “Put simply, CMG may need to spend more to grow less. … Finally, we upgrade DRI to Outperform (target price to $250 from $220), viewing the company as a core casual dining holding with reliable top-line drivers, strong execution, and a durable growth algorithm.” Baird initiates Brinker as outperform Baird says the owner of Chili’s is too attractive to ignore. ” Brinker has completed one of the restaurant industry’s most impressive operating turnarounds, as Chili’s simplified its menu, improved execution and hospitality, sharpened value, and expanded advertising reach.” Read more. Bank of America upgrades Suzano to buy from neutral The firm upgraded the LatAm pulp and paper company and says it sees “earnings momentum.” “We upgrade Suzano to Buy from Neutral and raise our PO to R$66/share, or US$13/ADR. With pulp prices bottoming and seasonality improving from September, we expect earnings momentum to turn positive as prices recover.” Jefferies initiates Ionic Digital as buy Jefferies says the digital infrastructure company is a data center beneficiary. “Ionic Enters the AI Data Center Space With a Well-Structured Anchor Lease and a Balance Sheet with No Debt.” Wells Fargo initiates Fortune Brands as overweight Wells says the turnaround is working. “FBIN presents investors with quality end market exposure (particularly plumbing/faucets) at a discount, w/ upside potential via self-help.” Morgan Stanley initiates Q32 Bio as overweight Morgan Stanley says the biotech company has plenty of upside. “We initiate coverage of QTTB at OW and a $34 PT.” Wells Fargo downgrades Canada Goose to underweight from overweight Wells says it’s concerned about El Nino for Canada Goose. “Cut numbers below Street and downgrade to UW (from OW). While we appreciate the work done over the past 18-24 months to reinvest and improve product – we simply feel the macro is against them (El Niño, EMEA and tariffs) and the NT risk is material Truist reiterates CoreWeave as buy The firm raised its price target to $165 per share from $155. “We expect CRWV’s higher pricing to largely flow through to margins in 2H26 as NVIDIA’s increases are expected to affect systems shipped early next year.” Read more. UBS downgrades Klarna to neutral from buy UBS says Klarna shares are too “challenging” following earnings. “While Klarna remains well positioned in the global BNPL market, we believe expectations may be optimistic and potentially not fully account for the implied/potential Q4 2026 exit rates…” Wolfe upgrades PulteGroup to outperform from peer perform Wolfe says the homebuilder is best positioned right now. “In a challenging demand environment with mortgage rates near their YTD highs, we believe PHM is well positioned to outperform peers as the company’s balanced consumer segmentation continues supporting fundamental resilience…” Bank of America initiates Alvotech as buy Bank of America says shares of the biosimilar company are compelling. “We initiate coverage of Alvotech with a Buy rating and $7 PO.” Wells Fargo reiterates Marvell as outperform Wells raised its price target on Marvell ahead of earnings on Tuesday. “PT to $310 (was $240), ~28x our +$11/sh. FY29 EPS upside view.” Read more. Evercore ISI adds Dell to the tactical outperform list Evercore says it’s bullish ahead of earnings on Sept. 1. “We believe the setup remains attractive despite the recent runup in stock price. In our view, the debate has shifted from ‘is the AI infrastructure demand real’ to ‘how much can DELL physically ship’ and we expect DELL to print a solid beat and raise its FY27 guidance.” Mizuho initiates Talen Energy as outperform Mizuho says the nuclear company has a differentiated offering. “We are initiating coverage of Talen Energy at Outperform, with a $405 price target..” Mizuho initiates Vistra Group as outperform Mizuho says the company is best positioned for electricity demand. “We are initiating coverage on Vistra Corp. (VST) with an Outperform rating and a $169 price target, reflecting our view that VST is among the best-positioned merchant power platforms to monetize the structural step-change in U.S. electricity demand driven by AI and data center build-outs.” Seaport initiates Funko as buy Seaport says it sees profit upside. “We are initiating coverage of Funko (FNKO) with a Buy rating and $8 price target.” Raymond James initiates Shattuck Labs as strong buy The firm says the biotech company has a robust pipeline. “We initiate coverage of Shattuck Labs (STTK) with a Strong Buy rating and an $18 target price.”
