Monday’s Biggest Analyst Calls: Nvidia, Tesla, Netflix, Wynn, Ge Vernova, Wells Fargo, AT&T And More

Here are Monday’s biggest calls on Wall Street:

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Tesla Downgraded by William Blair

William Blair shifted its Tesla rating from “Outperform” to “Market Perform,” citing the potential strain the recently passed “Big Beautiful Bill” might place on the electric car manufacturer. The firm voiced concern that the legislation may bring challenges that could negatively impact Tesla’s performance going forward.

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UBS Begins Coverage on GE Vernova with a Buy Rating

UBS started coverage on GE Vernova (GEV), giving the clean energy company a “Buy” rating and setting a price target of $614. UBS expects a 20% upside potential and anticipates several upcoming catalysts that could support further growth.

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General Motors Initiated as Outperform by CLSA

CLSA began coverage on General Motors with an “Outperform” rating, noting the automaker’s strong positioning amidst tariff-related tensions. GM is reportedly using the current geopolitical climate to its advantage, particularly by avoiding price hikes, putting pressure on overseas rivals.

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Stellantis Downgraded by Bank of America

Bank of America cut its rating on Stellantis from “Buy” to “Neutral,” expressing concerns about rising competition in Europe. While the U.S. market looks promising due to new model launches, the bank believes Stellantis is at a disadvantage in the European electric vehicle (EV) market.

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T-Mobile Upgraded by Rothschild & Co Redburn

Rothschild & Co Redburn raised its rating on T-Mobile from “Sell” to “Neutral,” largely due to valuation. After a recent decline in the stock price, T-Mobile now sits just slightly above the firm’s price target.

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Nvidia’s Price Target Raised by Citi

Citi reaffirmed its “Buy” rating on Nvidia while boosting its price target from $180 to $190. The firm cited expanding demand in the AI semiconductor space, especially from government-led AI infrastructure investments, as a key driver behind the updated outlook.

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Applied Materials Added to Citi’s Focus List

Citi maintained a “Buy” rating on Applied Materials and included the stock in its U.S. Focus List. The selection was based on favorable valuation, strong fundamentals, and compelling risk-reward potential.

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JPMorgan Initiates Chime Financial at Overweight

JPMorgan began coverage on Chime Financial (CHYM) with an “Overweight” rating and a December 2026 price target of $40. The firm views the stock as an attractive opportunity within the fintech space.

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Seaport Downgrades Netflix to Neutral

Seaport cut its Netflix rating from “Buy” to “Neutral,” suggesting limited short-term upside. The firm noted that although its long-term valuation projections have improved, the near-term forecast doesn’t justify a continued bullish stance ahead of the company’s upcoming earnings report.

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Goldman Sachs Covers Casino Stocks

Goldman Sachs initiated coverage on several casino operators, assigning “Buy” ratings to Wynn Resorts and Caesars, a “Neutral” rating to Las Vegas Sands, and a “Sell” to MGM. The firm is optimistic about the prospects for both WYNN and CZR.

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CrowdStrike Downgraded by Piper Sandler

Piper Sandler downgraded cybersecurity firm CrowdStrike from “Buy” to “Neutral.” With the stock nearing its $505 price target, the firm doesn’t expect substantial near-term catalysts to drive further gains.

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Ategrity Coverage Initiated by JPMorgan

JPMorgan started coverage of insurance company Ategrity (ASIC) with an “Overweight” rating and a December 2026 price target of $26. The firm believes Ategrity offers a distinctive market approach.

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Barclays Initiates EQT as Overweight

Barclays initiated coverage of EQT with an “Overweight” rating, describing the energy company as having a strong mix of downside protection and upside potential, especially in the natural gas sector.

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Alliant Upgraded by Wolfe Research

Wolfe upgraded utility company Alliant (LNT) from “Peer Perform” to “Outperform.” The firm views the current price level as an appealing entry point given the company’s growth driven by data center demand and favorable regulation.

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SanDisk Initiated as Buy by Jefferies

Jefferies gave SanDisk a “Buy” rating, following its recent spinoff from Western Digital. Now focused solely on NAND Flash technology, SanDisk is seen as a strong standalone player.

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MP Materials Downgraded by Jefferies

Jefferies downgraded rare earths company MP Materials from “Buy” to “Neutral,” noting that China’s switch to short-term export licensing reduces the immediate threat of supply shortages.

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Voyager Technologies Covered by JPMorgan

JPMorgan initiated coverage on Voyager Technologies (VOYG), a space and defense firm, assigning it an “Overweight” rating and a December 2026 price target of $52.

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J.M. Smucker Covered by RBC as Outperform

RBC began coverage on food company J.M. Smucker (SJM) with an “Outperform” rating and a $130 price target, citing an appealing risk/reward profile.

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Phibro Animal Health Upgraded by JPMorgan

JPMorgan upgraded Phibro Animal Health (PAHC) from “Neutral” to “Overweight,” seeing multiple tailwinds ahead. Despite the stock’s strong run, JPMorgan believes there’s more upside to capture.

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Shoals Upgraded by Jefferies

Jefferies raised its rating on Shoals from “Hold” to “Buy,” increasing its price target from $4.90 to $7.20, based on several anticipated growth drivers in the clean energy sector.

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Caci Upgraded by William Blair

William Blair upgraded IT firm Caci from “Market Perform” to “Outperform,” highlighting its underestimated position in the drone market—especially relevant after the passage of a drone-focused funding bill.

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Constellation Brands Upgraded by Jefferies

Jefferies upgraded Constellation Brands from “Hold” to “Buy,” suggesting improving trends in wine profitability and easing comparisons could support a valuation rebound despite recent challenges in beer consumption.

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Wells Fargo Downgraded by Raymond James

Raymond James lowered its rating on Wells Fargo from “Strong Buy” to “Market Perform,” citing that the stock has already reached the firm’s target after a 15% gain since its prior forecast upgrade.

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Progressive Downgraded by Morgan Stanley

Morgan Stanley shifted Progressive to “Equal Weight” from “Overweight,” saying the stock’s recent surge has already priced in the previous bullish thesis.

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Blue Owl Technology Finance Initiated as Buy by Truist

Truist started coverage on Blue Owl Technology Finance (OTF) with a “Buy” rating and a price target of $17, citing its favorable market positioning.

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AT&T Reinstated as Buy by Bank of America

Bank of America resumed coverage of AT&T with a “Buy” rating and a $32 price objective, highlighting signs of accelerating growth.

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