Here are Monday’s biggest calls on Wall Street: Goldman Sachs initiates Ferrari as buy Goldman said the luxury vehicle company is firing on all cylinders. “We initiate with a Buy rating on Ferrari as we see a large volume of higher-priced Special Series volumes driving ASP growth for the company across 2026/27, paving the way for beats vs. current consensus estimates in terms of margins and EPS.” Bank of America upgrades Creditcorp to buy from neutral Bank of America said it sees an attractive entry point for Peru’s largest financial holding company. “We upgrade Credicorp (BAP) to Buy from Neutral and modestly increase our PO to USD$280 (from US$275) for potential 14% upside (+5% dividend yield).” Goldman Sachs initiates Navan as buy Goldman said the business travel tech company is a share gainer. “We initiate coverage of Navan with a Buy rating and a $29 Price Target.” Bernstein reiterates Nvidia as outperform Bernstein said it’s sticking with Nvidia. “The datacenter opportunity is enormous, and still early, with material upside still possible.” Citi initiates Cadence and Synopsys as buy Citi said both software companies are AI winners. “We are initiating coverage of the Electronic Design Automation (EDA) industry with Buy ratings on both Cadence (CDNS) with a $385 PT and Synopsys (SNPS) with a $580 PT.” Goldman Sachs initiates Jacobs as buy Goldman said it’s very bullish on Jacobs. “We initiate coverage of Jacobs Solutions (J) – a leading Engineering, Design, and consulting firm – with a Buy rating and a 12-month price target of $158.” Goldman Sachs initiates Waste Management as buy Goldman called the trash company an “industry leader at a valuation discount.” “We initiate coverage of Waste Management (WM) with a Buy rating and a 12-month price target of $256.” Goldman Sachs reiterates Amazon and Walmart as buy Goldman said Walmart and Amazon are well positioned for the holidays. “Amidst a modestly more muted holiday shopping backdrop, we believe market share gains will accrue to retailers who offer strong value or great fashion. Our stock calls that align with this include Buy-rated WMT and FIVE, Buy-rated BURL/TJX/ROST, and Buy-rated AMZN.” Wells Fargo upgrades Merck to overweight from equal weight Wells said it sees growth upside for the biopharma company. “We are upgrading MRK because, after recent deals and pipeline success, we can see growth post Keytruda LOE [loss of exclusivity].” Morgan Stanley reiterates Eli Lilly as overweight The firm raised its price target to $1,290 per share from $1,171. “Earlier this year we outlined our views on ‘The Broadening’ of the GLP-1 market driven by a number of factors which are playing out. LLY also recently became the first $1trn market cap Biopharma company.” JPMorgan upgrades Cipher Mining and CleanSpark to overweight from neutral JPMorgan said shares of the bitcoin miners are attractive. “We are upgrading Cipher to Overweight (from Neutral), and raising our Dec-26 PT to $18 (from $12), and upgrading CleanSpark to Overweight (from Neutral). JPMorgan upgrades Baidu to overweight from neutral JPMorgan said the China tech company is an AI winner. “We upgrade Baidu from Neutral to Overweight because we believe the narrative is shifting: cloud and AI are now set to become the primary growth engines and value drivers.” Read more. UBS initiates Enlight Renewable Energy as buy UBS said it sees a slew of positive catalysts ahead for the renewable energy company. “We initiate ENLT with a Buy rating as an emerging, under-appreciated U.S. renewable developer set to expand its U.S. clean energy footprint 12x by 2028E.” Deutsche Bank initiates Qnity Electronics as buy Deutsche said buy the dip in the electronics computing company. “We believe Qnity shares offer an attractive opportunity to gain exposure to fast-growing materials spending trends across some of the most appealing segments of the semiconductor market, including leading-edge process nodes, as well as emerging technologies in middle/back-end markets such as advanced packaging.” Melius reiterates Tesla as buy Melius said Tesla remains a step ahead of peers. “To be clear, our point is not that Tesla is at risk, it’s that everybody else is. After a very long and gradual period of improvement, autonomy is coming very soon, and it will change everything about the driving ecosystem. BMO upgrades MP Materials to outperform from market perform BMO said buy the dip in the rare earths company. “We are upgrading MP Materials to Outperform with a US$75 price target. Rare earth prices have pulled back as China removed bans on rare earth export restrictions.” Read more. Wedbush upgrades Carvana to outperform from neutral Wedbush said buy the dip in Carvana shares. “We believe the recent pullback in shares is overdone, and investors should take advantage of this period of relative weakness.” Read more. Truist upgrades Cummins to buy from hold Truist said the machinery company is best positioned. “We believe CMI offers the best of both worlds: a core business (Commercial Vehicle) that is at a cyclical bottom, and earnings power further accelerated by secular tailwinds in Power.” HSBC upgrades Flutter to buy from hold HSBC said Flutter is underappreciated. “We have some concerns about the slowing US sports betting market, and think it will be difficult to get a quick return on the investments that management is making into prediction markets.” Read more. Jefferies upgrades Tractor Supply to buy from hold Jefferies said the stock is undervalued. “In a backdrop plagued by ongoing consumer uncertainty, we see TSCO shares providing a nice ‘hedge’ given the resilience of TSCO’s customer demographic and momentum behind early-stage, needle-moving growth initiatives.” HSBC initiates Regeneron as buy HSBC said the biotech company is well positioned. ” Regeneron’s ability to sustain its growth beyond the medium term is the key debate about the company” Bank of America upgrades Booking Holdings to buy from neutral The firm said investors should buy the dip in the online travel company. “We think Booking i s well positioned with suppliers with less than 10% large chain hotel exposure. JPMorgan initiates Hyatt as overweight JPMorgan said it sees a re-rating for the hotel giant. “We are initiating coverage of Hyatt ( H) at Overweight, with our $178 PT implying ~15% upside.” JPMorgan reiterates Apple as overweight JPMorgan said its checks show lead times for Apple’s iPhone are tracking higher. “In Week 11 of our Apple Product Availability Tracker, lead times across the iPhone 17 series moderated by three days, which is higher than the unchanged lead times from Wk10 to Wk11 in the prior year, but is likely explained by improving supply catchup relative to demand which has been running at a higher differential relative to prior years already.” Bank of America upgrades Barrick Mining to buy from neutral The firm said it sees a slew of catalysts ahead for the mining company. “We upgrade Barrick Mining (B) to Buy from Neutral on: 1) an increased focus on capital return, 2) a strategic redirection of the business to developed market from emerging market jurisdictions, 3) and expected improvement in Nevada Gold Mines’ (NGMs’) 2026 unit costs…” Morgan Stanley reiterates Micron as overweight The firm raised its price target on Micron. “Raising MU CY26 EPS 15%, moving PT from $325 to $338.” Wolfe upgrades Morgan Stanley to outperform from peer perform Wolfe said Morgan Stanley shares are undervalued. “We believe MS is now better positioned to recoup the bulk of its stock underperformance vs. GS over the last three years, with our updated valuation framework implying as much as ~2500bps alpha potential in the pair.”
Here are Monday’s biggest analyst calls: Nvidia, Apple, Tesla, Ferrari, Carvana, Eli Lilly, Amazon, Walmart & more
Nov 25, 2025
