(This is CNBC Pro's live coverage of Monday's analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) A major chipmaker and a shoe maker were among the stocks being talked about by analysts on Monday.
Morgan Stanley hiked its price target on Nvidia to $144, implying upside of 16.5%. Meanwhile, UBS upgraded Birkenstock to buy from neutral.
Check out the latest calls and chatter below. All times ET. 6 a.
m.: Goldman Sachs initiates Verizon at a buy rating An improving industry backdrop will lend itself favorably to Verizon , according to Goldman Sachs. The bank initiated coverage of the telecommunications giant at a buy rating.
Analyst James Schneider assigned the stock a 12-month price target of $50, which corresponds to a 21% increase from its Friday closing price. Shares of Verizon have climbed 9% in 2024. However, Schneider thinks the stock could continue climbing amid a favorable industry backdrop.
"We see an improving competitive backdrop for mobile network operators in the US, punctuated by a period of declining capital intensity — a condition which has not existed in over a decade," he wrote. "We believe Verizon can deliver a sustained return to revenue, EBITDA, and free cash flow growth over the coming 18 months with potential for a buyback in 2025 — and think the stock can re-rate as this occurs." As a catalyst, Moore highlighted Verizon's improving execution in its core wireless business, which the analyst called a self.
