Listed here are the most important calls on Wall Avenue on Monday: Morgan Stanley upgrades East West Bancorp to chubby from equal weight Morgan Stanley mentioned in its improve of the regional financial institution that it is underappreciated. ‘Upgrading EWBC to Chubby given its underappreciated extra capital ranges that present each a cushion in opposition to weakening credit score and the flexibility to generate above peer mortgage progress in a weak macro atmosphere.” Bank of America adds Union Pacific and US Bancorp to the US1 Focus list Bank of America added both stocks to the firm’s top picks list. “We’re including US Bancorp (USB) and Union Pacific (UNP) to the US 1 Record.” Mizuho upgrades General Motors to buy from hold Mizuho sees several positive catalysts ahead for GM , now that the UAW strike is in the rearview mirror. “The UAW strike is within the rearview mirror, manufacturing has resumed, and we see idiosyncratic catalysts.” UBS reiterates Apple as neutral UBS said its checks show that Apple’s iPhone sales in China remain “sluggish.” “Telephone sell-through in Oct. returns to progress as a consequence of timing however China sluggish.” Deutsche Bank downgrades Anheuser Busch InBev to hold from buy Deutsche downgraded the stock, mainly on valuation. “We proceed to see ABI’s broadly EM targeted gross sales publicity as enticing mixed with the corporate’s market main market share positions. … .Nonetheless, with the shares buying and selling on a CY24 P/E of 17.3x and providing a FCF yield of 5.6% we see the shares as broadly pretty valued for now. We due to this fact downgrade to HOLD from BUY.” Deutsche Bank upgrades Hawaiian Airlines to buy from hold Deutsche upgraded the airline after Alaska announced it was acquiring Hawaiian over the weekend. “On the floor, the fairness premium is critical, though Hawaiian’s fairness worth traded at a stage that was roughly double the $1.0 billion consideration in the course of the pre-pandemic interval from 2016–2019.” Wells Fargo downgrades Lululemon to equal weight from overweight Wells said in its downgrade of the stock that it sees less balanced risk/reward. “Downgrading LULU to EW. Whereas we tweak EPS greater, we keep our $445 PT and are taking our chips off the desk following a stable run YTD. We take away LULU from our Prime Picks checklist and exchange with NKE.” Bank of America reiterates Amazon as buy The bank said its 2024 online e-commerce survey shows Amazon is the top choice for consumers. ” Amazon stays, by far, the preferred eComm web site; 64% of respondents search Amazon first when shopping for merchandise (vs. Google at 14%) and, on a internet foundation, 45% of respondents point out rising utilization within the subsequent 6 months (up vs. 42% final 12 months and vs. Walmart at 29%).” Morgan Stanley downgrades Sea Limited to equal weight from overweight Morgan Stanley downgraded the Singapore-based tech conglomerate until its business outlook is clearer. “[W]e assume SE’s earnings predictability for the following 6-12 months is sort of low. We decrease our value goal to US$47/share and transfer to EW until we get extra readability on the: 1) Aggressive panorama dynamics in Indonesia, (2) stickiness of [gross merchandise value] as soon as advertising and marketing spend tapers, and three) unit economics of live-streaming on this area.” Roth MKM upgrades Fluence to buy from hold Roth upgraded the energy company after its recent earnings. “We’re upgrading FLNC to Purchase following the sturdy FQ4 beat and better than- anticipated 2024 income steerage.” Evercore ISI downgrades Fisker to in line from outperform Evercore said it sees too much uncertainty at the electric vehicle company. “Along with a common lack of execution or tangible proof of elevated execution, we see FSR’ s subsequent 12 months as a extremely precarious tightrope of execution, model threat, capital raises & dilution.” Piper Sandler names Nvidia a top pick Piper said the stock’s valuation is particularly “compelling.” “We’re making NVDA our high large-cap choose (beforehand AMD) for the next causes. 1) Valuation is now considerably extra compelling than AMD, 2) NVDA supplies the complete stack of compute that enables for sturdy efficiencies and important aggressive benefits on the system stage.” Goldman Sachs upgrades Coca-Cola European Partners to buy from neutral Goldman upgraded the European Coke company, seeing a “favorable” risk/reward. “We improve CCEP to Purchase and lift our value goal to $70 (from $61). We see a positive threat/reward for CCEP heading into year-end and past given a lot of volume-related tailwinds – a rarity within the Staples universe because the wrap round pricing profit fades and topline progress turns into more durable to return by.” JPMorgan upgrades Carvana to neutral from underweight JPMorgan said the unknowns surrounding the stock are becoming better understood. “The identified unknowns across the CVNA story are higher appreciated by traders immediately in our view and it’s attainable CVNA can execute its means by way of this unsure macro and used automotive trade section in a means that limits draw back to near- and medium-term estimates.” Wells Fargo upgrades CyberArk to overweight from equal weight Wells sees potential upside to earnings estimates for the cyber security company. “We’re upgrading CYBR to OW, as we consider the corporate is capitalizing on latest breach exercise and the altering aggressive dynamics. Our $250 PT equates to 24% upside, although there’s nonetheless room for the a number of (10x) and estimates to maneuver greater.” Morgan Stanley upgrades Insulet to overweight from equal weight Morgan Stanley initiated the insulin pump therapy company and said it sees room for further gains. “GLP-1 considerations are disproportionate given Insulet’s Kind 1 publicity, and we see minimal influence to near-term income progress.” Bank of America upgrades ONEOK to buy from neutral Bank of America said it’s bullish on the natgas company’s agreement to purchase Magellan Midstream. “We improve OKE to Purchase from Impartial and lift our PO from $72 to $83. We predict the market is underappreciating the synergies and FCF step-up from the merger with MMP.” Bank of America initiates Arrowhead Pharmaceuticals at buy Bank of America said in its initiation of the biotech company that it has a “compelling” platform. “We provoke protection on Arrowhead Pharma (ARWR) with a Purchase ranking and a $29/shr PO primarily based on our risk-adjusted” sum of the parts analysis. KeyBanc initiates Worthington Steel as overweight KeyBanc initiated research coverage of the steel maker and called it resilient. “We’re initiating protection of Worthington Metal, – a carve out of Worthington Industries, now Worthington Enterprises – a number one value-added carbon sheet metal processor and distributor for automotive, development, electrical, and industrial purposes, with an Chubby ranking and $29 value goal given a positive entry level/valuation, reflecting > 30% upside.” Barclays upgrades 3M to equal weight from underweight Barclays said in its upgrade of 3M that it sees a revenue recovery. “We predict the highest line ought to be due for a restoration in 2024 after two weak years. Margin enlargement may very well be above common because of the newest cost-cutting plan, and the proof of better price management.” TD Cowen reiterates Coinbase as underperform TD Cowen is standing by its underperform rating on the crypto company, seeing limited visibility into its business outlook. “We estimate COIN’s November spot quantity bounce will drive at most an incremental $122MM of EBITDA to our This fall est. Given restricted visibility on buying and selling sturdiness and risk for decrease take-rate combine shift we view the $11.5B of added market cap since 11/3 as an extreme capitalization off this transfer.” Oppenheimer reiterates Uber as outperform Oppenheimer raised its price target on the stock to $75 per share from $65 in anticipation of its entry into the S & P 500 index. “Following the inclusion, we count on UBER to lean into progress and share buybacks, which ought to improve investor sentiment for progress/return in 2024.” Truist upgrades CNX Resources to buy from hold Truist said in its upgrade of the natgas company that investors should buy the dip in CNX. “We count on investor sentiment to stay depressed over the following few months within the fuel house, and anticipate the corporate’s sturdy hedging profile to insulate the identify, whereas nonetheless offering traders publicity to longer-term fuel asset upside.” KeyBanc downgraded Herc Holdings and United Rentals to sector weight from overweight KeyBanc downgraded the equipment rental companies, mainly because of their stock valuations. “We’re downgrading URI and HRI to Sector Weight from Chubby as valuation captures moderating begins inside our Breaking Floor dataset, plateauing pricing in our proprietary spot rental price scrapes, and downward developments in different forward-looking nonresidential indicators.” Wells Fargo reiterates Nike as overweight Wells says Nike is a top defensive pick for 2024. “We merely consider the restoration traits and self-help story now starting at NKE make for a extra compelling lengthy concept into 2024.” Morgan Stanley reiterates Palo Alto as overweight Morgan Stanley said Palo Alto shares have the poten tial to rise further. “We see additional upside from right here as rising AI tailwinds and a number of product cycles drive re-acceleration in FY25.”