Wall Street’s Key Stock Calls: Nvidia, Tesla, and More

NEW YORK, NY – On Monday, major Wall Street firms made significant stock recommendations as they prepare for earnings reports this month. Wells Fargo reiterated its overweight rating on Nvidia, raising its price target to $220 per share from $185, citing strong demand data and approved licenses for H20 sales to China.

Similarly, Morgan Stanley maintained its overweight stance on Tesla, emphasizing the company’s shift in focus from in-house custom silicon to partnerships with suppliers like Nvidia.

Wells Fargo upgraded Varonis Systems to overweight from equal weight, asserting the firm is well-positioned to take advantage of increasing adoption of Agentic AI technologies.

RBC Capital Markets initiated coverage on Advanced Drainage Systems with an overweight rating, projecting a target price of $159. The firm believes the stormwater management leader is poised for growth.

In contrast, DA Davidson downgraded C3.ai to underperform from neutral after the AI company’s recent preliminary results fell below expectations.

Seaport initiated a buy rating on Arm Holdings, highlighting the company’s value creation in the semiconductor industry and its plans to expand into new markets.

Meanwhile, Morgan Stanley upgraded Freeport-McMoRan to overweight, noting that the mining firm will benefit from price increases in its copper rod contracts.

JPMorgan also upgraded Nutrien to overweight, citing the fertilizer company’s successful restructuring efforts aimed at achieving significant cost savings.

Deutsche Bank reiterated its buy rating on Snowflake, expecting it to report solid gains in product revenue. Likewise, JPMorgan maintained its overweight stance on CoreWeave, highlighting the increasing demand for AI-related services.

Loop raised its price target for Apple to $230 from $215, echoing expectations for steady revenue growth ahead of the iPhone 17 launch.

Conversely, Melius downgraded Adobe to sell from neutral, expressing concerns that the company is losing market share to competitors offering AI-driven tools.

Finally, Morgan Stanley upgraded e.l.f Beauty to overweight, arguing that the consensus is underestimating the company’s profit potential.