Here are Monday’s biggest calls on Wall Street: Melius reiterates Apple as buy Melius said it sees several positive catalysts ahead for Apple. “We are prepping for what could be the most important Worldwide Developers Conference (WWDC) since the launch of the iPhone in 2007.” Bernstein reiterates Dell as outperform Bernstein raised its price target on the stock to $155 per share from $120. “We see the potential for significant revenue upside to ests for Dell’s AI server business this year (FY 25), but the associated EPS impact may not be as big as investors think.” Citi downgrades Rio Tinto to neutral from buy Citi said macro “headwinds are rising” for the metals and mining company. “RIO Plc shares are up ~27% since the August 2023 northern summer lull and the deep discount to valuation is now eroded.” Stifel reiterates Nvidia as buy Stifel said it’s standing by the stock ahead of earnings on Wednesday. “We are increasing our estimates which, in turn, moves our Target Price to $1,085, up from $910 using the same 35x multiple on our new C2025 EPS estimate of $31.45. NVDA remains our top pick relative to the AI infrastructure investment theme.” Baird reiterates Nvidia as buy Baird raised its price target on Nvidia to $1,200 from $1,050. “Raising estimates/price target on continued strength in AI-related demand for Nvidia.” Goldman Sachs reiterates Amazon as buy Goldman said it’s standing by its top-pick status on shares of Amazon. ” AMZN: Increasing momentum building around a few key narratives (with a host of positive proof points in their most earnings report) – re-accelerating AWS revenue growth, consistent North America operating margin trajectory and solid performance for their global eCommerce revenue.” Barclays reiterates Nvidia as overweight Barclays raised its price target on Nvidia to $1,100 from $850. “Our checks continue to point to billion+ of upside in April/July with calls for an air pocket seemingly overblown.” Goldman Sachs upgrades Teradyne to buy from neutral Goldman said it sees positive earnings per share revisions for the automation testing company. ” Teradyne : Cyclical Recovery in Semi Test and Robotics to Drive Positive EPS Revisions; Upgrade to Buy.” Barclays initiates Rubrik as overweight Barclays said the cybersecurity software company is a disruptor. ” RBRK is disrupting a $12B fragmented data protection market that is becoming more security driven.” Citi initiates Loar as buy Citi said it sees “revenue and earnings visibility” for the aerospace parts and systems company. “We initiate coverage of LOAR with a Buy rating and a 12-month price target of $64.” Citi initiates Huntington Ingalls as buy Citi said it’s bullish on Huntington Ingalls shares. “We expect annual FCF to reach $800M+ over the next several years which points to an 8%+ yield at current prices. We also expect capital deployment to favor shareholders through dividend growth that mirrors earnings growth and consistent share repurchases.” Goldman Sachs initiates Marex Group as buy Goldman said it’s bullish on the global financial services company. “We initiate coverage of Marex Group PLC (MRX) with a Buy rating and a $33 12-month price target (73% upside).” Redburn Atlantic Equities reiterates Tesla as sell Redburn said it’s sticking with its sell rating on the stock. “To minimise capital and labour inefficiencies, we project Tesla will cut vehicle prices further.” Morgan Stanley upgrades Micron to equal weight from underweight Morgan Stanley raised its price target on Micron to $130 per share from $98. “We overestimated how much significant CY23 losses would weigh on valuation, and underestimating both the economic and narrative elements of AI memory; moving to EW, PT $130.” Morgan Stanley names Hasbro a top pick Morgan Stanley said the toy company is a new top pick. “We expect a strong upward inflection in the revision curve with toy demand bottoming & HAS share stabilizing, momentum in profitability improvements driving visibility to significant operating leverage with a 20%+ EBIT margin in-sight sooner than consensus.” Goldman Sachs reiterates Salesforce as buy Goldman said it’s bullish on the stock heading into earnings on May 29. “We reiterate our Buy rating and 12-month PT of $345 ahead of Salesforce’s F1Q25 earnings, expected on 5/29.” Jefferies initiates U.S. Steel and Cleveland-Cliffs as buy Jefferies initiated several steel companies on Monday and said demand is improving. “We initiate on the ‘Big 4’ steel producers in the US – NUE, STLD, CLF, and X.” Morgan Stanley names Progressive a top pick Morgan Stanley said it’s bullish on shares of Progressive. “Despite near all-time high, valuation remains attractive, especially when compared to more well known stocks. Growth and margin remain underappreciated, in our view.” UBS upgrades Universal Health Services to buy from neutral UBS said it sees positive momentum for the hospital and healthcare services company. “We upgrade UHS to a Buy rating, with a $226 price target, given the enhanced visibility we have into upside to earnings given recent supplemental payment developments, as well as improving operational results.” JPMorgan upgrades Huya to overweight from neutral JPMorgan said it’s bullish on shares of the China game streaming platform. “We upgrade Huya from Neutral to OW with a PT of US$9.” Evercore ISI reiterates TJX Companies as outperform Evercore named the stock as a top-five pick in retail and said shares are compelling. “While TJX’s 24x P/E isn’t cheap, its relative P/E (vs S & P) is now 3% below the 3-yr avg, and we think TJX has the best potential to reaccelerate SSS [same-store sales] with minor strategy adjustments post-1Q.” Seaport initiates Amphenol as buy Seaport said it’s bullish on shares of the electronic connector manufacturer. “We are initiating coverage of APH with a Buy rating and $150 PT.” Barclays reiterates FedEx as overweight Barclays said shares remain “cheap” ahead of earnings in late June. ” FedEx results next month will cap off a challenging FY2024 as well as usher in a new era of financial reporting as the company slowly proceeds with merging the US Express and Ground businesses.”