Monday’s Biggest Analyst Calls: Nvidia, Apple, Wendy’s, Broadcom, Tesla, Berkshire Hathaway & More

Here are Monday’s biggest calls on Wall Street:

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Jefferies Maintains Tesla as a Hold

Jefferies is sticking with its “Hold” rating on Tesla, noting the company is regaining momentum in the tech space with its upcoming Robotaxi unveiling in Austin this June. While Tesla is starting to show technological leadership again, the firm believes its advantage might lie more in its ability to scale than in the technology itself, especially as autonomous vehicle initiatives accelerate across the industry. With the stock now back to a $1 trillion valuation, Jefferies says the market is willing to give Tesla the benefit of the doubt, citing lofty price-to-earnings ratios of 152x for 2025 and 107x for 2026.

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Mizuho Boosts Bloom Energy to Outperform

Mizuho upgraded Bloom Energy to “Outperform” from “Neutral,” citing an attractive risk/reward profile. The firm sees meaningful upside potential if Bloom secures even a modest increase in orders from utility providers or other large-scale clients.

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Morgan Stanley Reaffirms Apple as Overweight

After analyzing Apple’s quarterly 10-Q report, Morgan Stanley is holding firm on its “Overweight” rating. The firm pointed to several positive takeaways: accelerated product and component orders in the second fiscal quarter, continued growth in Apple’s services like advertising, cloud, and the App Store, a decade-high operating margin, and openness to potential price increases in response to tariffs.

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Morgan Stanley Upgrades Ascendis Pharma to Overweight

Morgan Stanley raised its rating on Ascendis Pharma from “Equal Weight” to “Overweight,” noting strong performance from its hormone replacement therapy, Yorvipath. The firm expects the drug’s success to meaningfully drive results through mid-2025.

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Goldman Sachs Lifts Sotera Health to Buy

Goldman Sachs upgraded Sotera Health to “Buy” from “Neutral,” emphasizing the company’s stable business model focused on pharmaceutical and medical device testing. These sectors are less sensitive to economic downturns due to the essential nature of their products, which Goldman views as particularly appealing in today’s uncertain macro environment.

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UBS Upgrades EQT and Portland General Electric

UBS upgraded two utility-related names. It raised EQT to “Buy,” highlighting a more than 3% potential upside in free cash flow and production that the market may not yet be pricing in. Portland General Electric also received an upgrade to “Buy,” with UBS offering a more general positive view on its value.

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UBS Reaffirms Buy Rating on Berkshire Hathaway

Following earnings and the announcement of Greg Abel taking over as CEO, UBS reiterated its “Buy” rating on Berkshire Hathaway. The firm said Warren Buffett is leaving behind a business that’s less dependent on his personal investment acumen and more supported by diverse, cash-generating operations. UBS expects the company’s culture and strategy to remain intact under new leadership.

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Loop Capital Initiates Okta as a Buy

Loop Capital started coverage on identity management firm Okta with a “Buy” rating. The firm highlighted Okta’s key strategic positioning—especially its customer relationship with OpenAI—as a major strength in the rising wave of AI-driven demand in cybersecurity.

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JPMorgan Upgrades Wendy’s to Overweight

JPMorgan upgraded Wendy’s from “Neutral” to “Overweight,” citing improving store-level economics. They see the fast-food chain’s current valuation as a bargain, projecting significant equity upside and a free cash flow yield that could climb to 8.5% in the coming years.

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BofA Maintains Neutral on AMD

Bank of America is holding its “Neutral” stance on Advanced Micro Devices ahead of earnings. While AMD continues to execute consistently and enjoys exposure to the expanding compute market, BofA sees strong competition as a headwind.

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Canaccord Upgrades Worthington Enterprises to Buy

Canaccord upgraded industrial machinery firm Worthington Enterprises from “Hold” to “Buy” after the company reported its fifth consecutive clean quarter. Strong manufacturing capabilities and sourcing advantages contributed to Canaccord raising its price target to $67 from $54.

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Seaport Upgrades Reddit to Buy

Seaport upgraded Reddit from “Neutral” to “Buy,” encouraging investors to take advantage of the stock’s recent dip. Although user growth in the U.S. has slowed due to Google search changes, Reddit still posted strong first-quarter revenue and EBITDA and issued solid guidance for the second quarter.

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Melius Reaffirms Buys on Tech Giants

Melius reaffirmed its bullish outlook on Microsoft, Nvidia, Broadcom, and IBM. The firm believes Apple will eventually overcome tariff concerns and reinvigorate its iPhone lineup, though it emphasized that a rebound in services is key to reigniting momentum in the stock.

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BofA Initiates Taylor Morrison as Buy

Bank of America began coverage on homebuilder Taylor Morrison with a “Buy” rating, praising its focus on more affluent buyers and its minimal exposure to entry-level housing, which makes it well-positioned in a challenging market.

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Raymond James Upgrades Lumen Technologies

Raymond James upgraded Lumen Technologies to “Outperform” from “Market Perform.” The firm sees a number of near-term catalysts that could significantly boost the company’s equity value over the next six to nine months.

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Jefferies Initiates EHang as a Buy

Lastly, Jefferies initiated coverage of EHang, a company focused on electric vertical takeoff and landing (eVTOL) aircraft, with a “Buy” rating. The firm cited EHang’s unique status as the only player to secure all necessary regulatory approvals and sees massive market potential for the company.

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