Monday’s Key Analyst Updates: Major Upgrades from Morgan Stanley, BMO, JPMorgan and Others

Morgan Stanley upgraded Wells Fargo to overweight, noting that normalizing balance‑sheet growth should ease funding pressure, stabilize net interest margins and strengthen the path to higher returns. Bank of America initiated coverage of Vylor with a buy rating and a $78 price target, calling the biopharma a “seed leader.” Morgan Stanley also reiterated its overweight stance on SpaceX, arguing that the stock has become more attractive as the space and intelligence economy expands, with investors having a few weeks to capture upside ahead of Flight 15.

Bernstein kept its outperform rating on Nvidia, emphasizing the massive data‑center opportunity and maintaining a $400 price target. Citizens Securities initiated coverage of autonomous‑systems company Ondas with a market outperform rating and a $14 price target, citing its diversified platform across four high‑growth submarkets. BMO initiated coverage of nVent Electric at outperform, setting a $212 target and highlighting unprecedented growth tied to AI infrastructure and power. The same team also launched an outperform call on Vertiv, projecting a $329 target that implies roughly 31% upside and noting the data‑center play’s strong five‑year run.

Jefferies initiated Samsara with a buy rating, forecasting a 22% revenue CAGR and a Rule‑of‑40 margin profile through fiscal 2029, as the IoT market remains underpenetrated. Wedbush gave Korsana Biosciences an outperform rating and a $44 target, pointing to the high unmet need in Alzheimer’s disease. Truist initiated coverage of Lumexa Imaging Holdings with a buy rating and an $18 target, calling the firm a leader in diagnostic imaging.

JPMorgan upgraded Virtu Financial to overweight from neutral, citing product innovation, new product proliferation and stronger capacity from retained earnings. Barclays upgraded Estée Lauder to overweight, arguing that the beauty giant’s sales growth and earnings outlook make it one of the most attractive consumer‑staples names. Goldman Sachs moved Stagwell to buy from neutral, highlighting recent pitch wins in marketing services and digital transformation that have driven YTD share‑price strength. Canaccord reiterated a buy on Tesla, noting solid delivery results and positioning the stock as a bet on robotics and automation initiatives. JPMorgan also upgraded Ryder to overweight from neutral, noting cheap valuation and structural improvements in its business model, while better used‑truck prices provide a tailwind.

Stifel upgraded Rentokil to buy from hold, saying the pest‑control firm trades at its lowest valuation since 2018 and 2015. Evercore ISI upgraded Texas Roadhouse to outperform from in‑line after a 25% pullback, urging investors to buy any weakness. Citi upgraded Harley‑Davidson to buy from neutral, saying recent operational improvements merit a more constructive view after years of caution. Bank of America upgraded DraftKings to buy from neutral, pointing to a more favorable prediction‑market environment, reduced cannibalization risk, bottoming estimates and an attractive risk‑reward after a 47% year‑over‑year decline.

Melius upgraded Microsoft to buy from hold, highlighting Satya Nadella’s leadership in security, governance and AI initiatives. TD Cowen upgraded Cboe to buy and raised the price target to $334, reflecting roughly 22x 2027 EPS. The firm also initiated coverage of Maravai LifeSciences with a buy rating, noting the stock’s 120% YTD surge driven by positive Phase‑III data for an mRNA cancer vaccine. William Blair initiated an outperform rating on offshore oil player Sable, pointing to upside from assets acquired from Exxon four years ago. Finally, JPMorgan reiterated an overweight stance on Apple, reporting that iPhone 18 Pro lead times moderated in the latest week of its product‑availability tracker.

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