Here are the biggest calls on Wall Street on Monday: Evercore ISI reiterates Netflix as outperform The firm says it sees a “strong catalyst path” following a survey of users. “We [reiterate] our Outperform, raising our PT from $775 to $950, in the wake of our detailed U.S., France & Germany survey work. We continue to see MSD% [mid single digits] upside to Street ’26 EPS, and with even further upside if Netflix returns to its historical price increase cadence.” Cantor Fitzgerald reiterates Marvell and Nvidia as top picks Cantor Fitzgerald says both stocks remain top picks ahead of Marvell earnings on Tuesday. “Our Top Picks remain NVDA , AVGO, MU, MRVL , and WDC.” UBS initiates CACI International as buy UBS says it likes the IT infrastructure company’s exposure to the government and defense industry. “Buy CACI : favor DoD/DHS exposure, technology push, and bolt-on M & A, with upside to consensus estimates.” UBS initiates AutoDesk and Procore as buy The firm says it is bullish on both construction software companies. “We are initiating coverage with Buy ratings on Autodesk (ADSK) and Procore (PCOR), two firms which provide software for Architective, Engineering, Construction and Manufacturing (AECM) sectors.” Morgan Stanley upgrades Cloudflare and Okta to overweight from equal weight The firm said in its upgrade of several cybersecurity stocks that it sees several tailwinds heading into 2025. “See idiosyncratic opportunities in companies with emerging AI product cycles and turnaround stories, driving our upgrades of NET and OKTA , respectively.” Goldman Sachs initiates Venom Energy as buy Goldman Sachs says it sees “strong shareholder returns” for the energy company. “We are initiating coverage on Viper Energy (VNOM) with a Buy rating and a 12-month target price of $70, implying 29% upside from current levels.” Stifel reiterates Tesla as buy Stifel raised its price target on the stock to $411 per share from $287. “We believe buying TSLA shares requires vision and patience, and the willingness to accept volatility. TSLA is clearly not just an automaker, as evidenced by its current market cap surpassing the aggregate value of the top 10 global automakers.” Bernstein names Block a best idea Bernstein says the payment company is a candidate for inclusion in the S & P 500 index. “Block is our new best idea. We see a number of catalysts for the stock into 2025 including Square GPV [gross payment volume] acceleration, significant EBITDA growth (30%) from continued efficiency gains, likely lower regulatory scrutiny and potential for S & P inclusion at some point.” JPMorgan upgrades Gap to overweight from neutral JPMorgan upgraded Gap following a meeting with company management and says it sees margin inflection. “Upgrade to Overweight raising our Dec ’25 Price Target to $30.” More about this call here. Goldman Sachs initiates Cleveland-Cliffs as buy Goldman Sachs said in its initiation of Cleveland-Cliffs that it sees a slew of positive catalysts ahead for the steel company. “Successful execution on multiple fronts to create shareholder value.” More about this call here. Goldman Sachs downgrades Toast to neutral from buy Goldman Sachs says the thesis has played out for the restaurant tech company. “…we prefer to be a bit more selective, and as a result, we are downgrading shares of TOST to Neutral from Buy, despite our positive view, as we believe much of our original thesis around operating leverage and valuation transitioning to a software-based valuation framework has played out.” Goldman Sachs adds Burlington and Air Lease to the conviction buy list Goldman Sachs added the off-price retailer to its top ideas list. “We add Burlington Stores (BURL) and Air Lease (AL) to the US Conviction List, while removing Global-E Online (GBLE) and Amgen (AMGN).” Barclays upgrades Dana to overweight from equal weight Barclays says it sees a “unique opportunity” to own shares in the auto parts manufacturer. “Accordingly, up until recently the DAN narrative seemed stalled — simply, it was unclear how interest could re-emerge in DAN despite cheap valuation, as the narrative was clouded by elevated leverage, weak FCF, and more recently, pressure in its core end markets. Yet we believe opportunity has emerged.” Goldman Sachs initiates Ero Copper as buy Goldman Sachs says the copper company has a “unique growth profile.” “We initiate coverage on copper producer Ero Copper (ERO) with a Buy rating and a $19.0 price target (25% upside).” Loop reiterates Apple as buy Loop says it is sticking with its buy rating on the tech giant. “Our thesis is that AAPL has an opportunity the next few years to solidify itself as consumer’s Gen AI ‘base camp’ of choice, just as it did for social media 15 years ago (with iPhone) and digital content consumption 20 years ago (with iPod).” Morgan Stanley upgrades Stryker to overweight from equal weight The firm said in its upgrades of Stryker that it sees strong growth for the medical device company. “We’d also point to M & A optionality and a solid product cycle.” Morgan Stanley upgrades NextEra Energy Partners to overweight from underweight Morgan Stanley double upgrades the renewable energy company and says it is standing by the stock despite government uncertainty. “While the recent US election has raised uncertainty around federal clean energy policy likely to serve as an overhang until IRA revisions are clearer, we see limited impacts for renewable infrastructure and double upgrade NEP to OW.” Wells Fargo upgrades Kymera Therapeutics to overweight from equal weight The firm said in its upgrade of Kymera that it is bullish on the biotech company’s COPD drug, KT-621. “We believe KT-621’s Phase 1 data will be a meaningful de-risking event and that the Street’s value for this program remains fairly conservative given the large end markets. Roth MKM upgrades Tesla to buy from neutral Roth said in its upgrade of Tesla that the “world has changed.” “We expect Tesla to see rebounding growth from an expanded pool of enthusiasts and the sunset of other more subsidy-dependent brands.” Deutsche Bank reiterates Dell as buy The firm lowered its price target on the stock to $142 per share from $144 but says it is standing by the stock. “Bottom line, DELL remains our top idea among our Hardware coverage, with multiple drivers underpinning our outlook for 7% revenue CAGR and 15% EPS CAGR over the next three years.”