Monday’s biggest analyst calls: Nvidia, Apple, Tesla, Alphabet, Darden, Progressive & more

Here are Monday’s biggest calls on Wall Street:

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Evercore ISI maintains Netflix as Outperform
Evercore ISI remains bullish on Netflix ahead of its upcoming earnings release, projecting a slight beat across key metrics. The firm expects third-quarter revenue of around $11.5 billion, operating income of $3.7 billion, and EPS of $6.96 figures it believes are realistic given Netflix’s robust content lineup, surging viewership data, recent price adjustments, and a solid track record of exceeding earnings expectations.

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Mizuho downgrades Rivian and Texas Instruments
Mizuho shifted both Rivian and Texas Instruments to “underperform,” citing weak electric vehicle demand and valuation concerns. The firm lowered Rivian’s price target to $10 from $14 as EV demand slows with the expiration of IRA tax credits. Texas Instruments’ target was cut to $150 from $200, with Mizuho pointing to slowing automotive growth, competitive pressures from China, and a lack of near-term catalysts.

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Mizuho also downgrades Skyworks and Qorvo
Both semiconductor firms were downgraded to “underperform” as Mizuho cited a challenging macro environment. Skyworks’ price target was reduced to $60 from $70, while Qorvo’s was trimmed to $75 from $87, reflecting lowered earnings expectations across the sector.

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Wolfe upgrades Digital Realty Trust
Wolfe Research upgraded Digital Realty Trust to “outperform” from “peer perform,” noting that recent consolidation has made the stock attractive. With a price target of $194, Wolfe projects about a 16% total return by the end of 2026, citing the REIT’s steady growth profile and appealing valuation.

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Evercore ISI issues a tactical outperform on Apple
Evercore ISI remains optimistic on Apple heading into its Oct. 30 earnings report. The firm expects upside potential for both the September and December quarters, citing stronger-than-expected iPhone demand and longer lead times for the iPhone 17 compared to last year’s models suggesting this may be a more significant refresh cycle.

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Bank of America reiterates Nvidia and Broadcom as top picks
Bank of America continues to favor chip giants Nvidia and Broadcom, naming them among its top five stock picks alongside AMD, Lam Research, and KLA Corp. The firm said these companies stand to benefit from growing demand in data centers and memory markets.

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Morgan Stanley initiates AvePoint as Overweight
Morgan Stanley began coverage on AvePoint, calling it an undervalued data security play with strong ties to Microsoft and exposure to the accelerating generative AI trend.

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Goldman Sachs upgrades Darden Restaurants
Goldman Sachs lifted Darden Restaurants to “buy” from “neutral,” noting compelling value across its casual dining brands, including Olive Garden. The firm believes Darden will gain market share in the dining-out segment, supported by its resilience among middle- to higher-income consumers less affected by economic pressure.

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Wedbush reiterates Tesla as Outperform
Wedbush reaffirmed its bullish stance on Tesla ahead of earnings this week. The firm expects a positive quarter, boosted by higher deliveries due to EV tax credits expiring in the U.S. and stronger sales in China.

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Barclays upgrades KLA and downgrades Marvell
Barclays raised KLA Corp to “overweight,” citing optimism around process control demand and growth in leading-edge technologies, while lowering Marvell to “equal weight” amid concerns about long-term market share trends. KLA’s favorable exposure to non-China growth opportunities was highlighted as a key advantage.

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Morgan Stanley downgrades Progressive
Morgan Stanley cut Progressive to “underweight,” pointing to multiple headwinds, including a faster-than-expected slowdown in growth and mounting CPI pressures. The firm said the insurer’s earnings could face cyclical weakness despite steady recent results.

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Barclays upgrades Sempra to Overweight
Barclays boosted Sempra to “overweight,” saying the utility stock looks undervalued given its strong Texas exposure and upside potential relative to consensus estimates.

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Bank of America reiterates Buy on Alphabet
Ahead of Alphabet’s earnings, Bank of America reaffirmed its buy rating and raised the price target to $280 from $252. The firm’s checks suggest ad spending remains robust, supported by an improving macro backdrop, higher data usage, and advertisers countering lower organic search traffic.

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TD Cowen upgrades Ally Financial
TD Cowen upgraded Ally to “buy,” highlighting margin improvement potential despite prior setbacks caused by higher rates and a challenging credit environment. The firm believes the company is on track to achieve its mid-teens return on tangible common equity.

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Wolfe initiates SailPoint as Buy
Wolfe began coverage on identity access management firm SailPoint with an “outperform” rating and a $27 price target, emphasizing its strong growth prospects in cybersecurity.

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Loop Capital upgrades Apple
Loop Capital joined other bullish voices by upgrading Apple to “buy” from “hold” and raising its price target to $315 from $226, projecting a multi-year iPhone growth cycle.

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Citi initiates WillScot Holdings as Buy
Citi launched coverage of modular space provider WillScot Holdings with a “buy” rating and a $28 target, citing solid fundamentals and expansion potential in the space solutions industry.

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Citi downgrades Gildan Activewear
Citi lowered Gildan Activewear to “neutral” from “buy,” noting that after a 30% year-to-date rally, the stock’s risk-reward balance has evened out. The firm added that investors have already priced in the benefits of its acquisition of Hanesbrands’ innerwear business and anticipated synergy gains of roughly $200 million.

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Overall, Monday’s analyst updates reflected a mix of cautious positioning and selective optimism particularly in large-cap tech and AI-driven names underscoring investors’ ongoing search for resilience amid shifting market dynamics.

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