Aniket PujariHere are Tuesday’s biggest calls on Wall Street: TD Cowen reiterates Berkshire Hathaway as hold The firm lowered its price target on the stock to $723,000 per share from $741,000. “Berkshire Hathaway’s old-school conglomerate structure has faced challenges in a number of key areas of late despite being powered by an insurance business that continues to shine.” Bernstein initiates Coinbase as outperform The firm said the crypto company has “strong regulatory tailwinds to drive crypto industry to the American financial mainstream.” ” Coinbase remains the dominant platform (66% U.S market share) to ride the tailwinds. COIN bears worry about rising competition and fee pressure, but they overlook the massive TAM expansion from re-shoring of global crypto markets back to the U.S.” Citizens upgrades Duolingo to market outperform from market perform Citizens said the learning app stock’s valuation is more attractive. “We upgrade shares of Duolingo from Market Perform to Market Outperform and establish a $400 price target.” Goldman Sachs upgrades Ralph Lauren to buy from neutral Goldman said it likes the Ralph Lauren’s minimal exposure to tariffs. “We believe improving execution and building brand momentum is set to drive additional market share capture opportunities and margin expansion, with broad-based geographic growth and idiosyncratic drivers of margin expansion providing stronger visibility to earnings growth ahead.” Morgan Stanley upgrades Lucid to equal weight from underweight The firm said it sees a more balanced risk/reward for the EV company. “We see emerging scope for Lucid’s ability to play a role in the embodied AI theme as an reshored/’friend-shored’ manufacturer with access to capital and strategic relationships that uniquely position Lucid to straddle geopolitical hurdles in potentially partnering with both China and the West.” KBW upgrading Block to outperform from market perform KBW said investors should buy the dip in the payment fintech company. “We are upgrading XYZ to Outperform as we see an attractive risk/ reward skew following the recent sell-off.” UBS upgrades Willis Tower Watson to buy from neutral UBS said the commercial insurance is “closing the valuation gap.” “We are upgrading our rating on WTW to Buy as we see continued multiple expansion relative to the insurance brokerage group as operating and FCF margins improve faster than peers.” UBS reiterates Nvidia as buy The firm said it’s extremely bullish after hearing from the company on Day 1 of its Global AI Conference. ” NVDA’s edge AI panel highlighted the sheer breadth of its offerings spanning service provider, enterprise, industrial, embedded, and physical AI. We all tend to focus on data center, but the opportunities span far wider.” RBC reiterates Tesla as outperform RBC said demand fears are overdone. “Much of the attention around Tesla has centered on its recent delivery performance in Jan and Feb in Europe and China. We think fears demand could be overblown however. That said, in this report, we lower our FSD pricing and robotaxi penetration assumptions. This causes us to reduce our PT to $320 from $440.” Jefferies reiterates Palantir as underperform Jefferies said it’s sticking with its underperform rating on the stock. “This positive momentum is baked into PLTR’s valuation at 45x CY26E, the most expensive stock in our coverage. Fundamentals have been strong, but valuation remains the biggest concern and insiders continue to sell with co-founder Stephen Cohen selling another $310M in shares over the past few days.” Citi reiterates FedEx as buy Citi lowered its price target on the stock to $317 per share from $347 and said it’s sticking with FedEx ahead of earnings later this week. “From conversations with investors, the big debate seems to be whether FDX will further lower its fullyear F2025 outlook for Adj. EPS in the range of $19-$20. As with much of transports, investors seem fearful of the potential impact of tariffs and increasingly concerned about downside risk to consumers and industrial activity.” KeyBanc reiterates Spotify, Netflix, DoorDash and Uber as overweight KeyBanc named several stocks as “category leaders” in a note to clients on Tuesday including Spotify, Netflix, DoorDash and Uber. “Our ‘March Madness favorites; are OW-rated SPOT, NFLX, DASH, and UBER – we believe these companies are category leaders with loyal users, margin levers, and the ability to come out of a cycle stronger. Evercore ISI reiterates Apple as outperform Evercore raised its price target on the stock to $275 per share from $260. ” AAPL remains positioned to sustain mid-single digit sales and low/mid teens FCF & EPS growth over next several years with less volatility & high consistency.” Deutsche Bank reiterates Nike as buy The firm raised its price target on the stock to $80 per share from $77 ahead of earnings later this week. “While we acknowledge the concerns, we walk into 3Q cautiously optimistic that shares have bottomed. Furthermore, our channel checks revealed several green shoots emerging with what appears to be strong consumer interest in recent running shoe launches, suggesting that NKE could be on its way to regain market share in the running segment of the market.” Barclays downgrades PepsiCo to equal weight from overweight The firm said it’s concerned about the snacking business. “We believe the ability for PEP shares to re-rate higher is (rightly or wrongly) all about the fate of the US snacking business, and we are of the view it will be a heavy lift to shore up FLNA [Frito-Lay North America]. JPMorgan reiterates Amazon as overweight The firm said Amazon remains a top idea. “We believe AMZN should gain retail share in a recessionary environment given low prices, wide selection, fast delivery, & stronger growth in non-discretionary items.” Argus upgrades Starbucks to buy from hold Argus said that it sees a slew of positive catalysts building for the coffee chain. “We are upgrading Starbucks Corp. to BUY from HOLD and setting a target price of $115. The company’s emphasis on digital improvements, brand marketing, and fewer sales promotions offers promise, in our view. Looking ahead, menu simplification and store remodeling are likely to increase customer traffic and raise same-store sales.”
