Here are Tuesday’s biggest calls on Wall Street: Morgan Stanley Downgrades Oatly to Equal Weight from Overweight Morgan Stanley resumed coverage of the oat company and said it sees too many negative catalysts. “Decent recovery in equal weight coverage given poor visibility, despite progress in trend reversal.” Morgan Stanley Reiterates Overweight Tesla Morgan Stanley said it is sticking with Tesla despite a slew of negative data in a recent investor survey. “Amid seemingly bearish institutional investor sentiment, we reiterate our OW rating on Tesla with a price target of $345.” Bernstein reiterates Apple’s market performance Bernstein said he maintains his market performance rating on Apple, but that the iPhone 16 may have some artificial intelligence features. “We expect potential AI capabilities that are largely consistent with existing products, including advanced image and video capture/editing tools, translation and transcription, improved messaging support, enhanced Siri, and greater automation in music, among others .” Morgan Stanley reiterates Nvidia overweight Morgan Stanley said it will stand by Nvidia ahead of earnings later this week. “All of this points to a strong quarter; our January high estimate of $21 billion is $1 billion above guidance and $700 million above consensus, and for April we’re at $22.8 billion dollars versus the consensus of 22.1.” Bernstein reiterates Disney outperformed Bernstein raised his stock price target to $120 a share from $115 and said he likes the company’s crackdown on password sharing. “We estimate approximately $1.2 billion in incremental revenue from the effort, taking Disney 6 to 8 quarters to realize the maximum benefit once it begins enforcing the rules (using Netflix cadence as a proxy).” RBC upgrades Ball to outperform sector RBC upgraded the packaging and canning company after selling its aerospace business. “We upgrade BALL to Outperform from Sector Perform and raise our target to $74 following the completion of the sale of its aerospace business to BAE Systems for approximately $4.5 billion in after-tax cash proceeds, which will be used for the debt payment ($2 billion) and share buybacks.” Evercore ISI downgrades Caterpillar to inline from outperfrom Evercore ISI said in downgrading the stock that it is engaging in “prudent profit-taking.” “Sector Downgraded to In-Line (Neutral), with 3 individual names downgraded with the same reasoning: Caterpillar, Ingersoll Rand, and Timken were each downgraded from Outperform to In-Line.” Rosenblatt reiterates Super Micro as the Rosenblatt purchase raised the stock’s price target to a Street high and said it’s a “combination of AI market and stock gain.” “We are increasing our PT for SMCI from $700 to $1,300, driven by the continued momentum of AI-based computing, as observed during our recent visits to Silicon Valley and the UK.” Deutsche Bank boosts JetBlue, Alaska Air and Southwest to buy from hold Deutsche Bank has boosted several airlines, noting it sees an “improving domestic supply environment.” “We believe more moderate domestic ASM (available seat mile) growth for 2024 will have positive implications for domestic unit revenue performance and, by extension, should translate into solid revenue performance for domestic-focused names. Therefore, we are raising our ratings on Alaska (ALK), JetBlue (JBLU), and Southwest (LUV) from Hold to Buy.” Redburn Atlantic Equities Downgrades MSCI to Sell from Neutral Redburn said he sees too many obstacles for the global market services company. “With earnings growth slowing in 2023, MSCI’s underperformance relative to its peers has been notable. However, the current valuation implies that the market expects the company to return to higher growth levels as the cyclical environment improves. We are less convinced.” Goldman Sachs takes BrightSpring Health as a buy Goldman said the home health services company’s stock is attractive. “We initiate coverage of BrightSpring Health Services with a Buy rating and $26 price target. Wolfe upgrades Freshworks to outperform versus peer performance Wolfe said the cloud-based software-as-a-service company has improved fundamentals.” When we downgraded FRSH in Dec ’22 we saw a more challenging macroeconomic environment, post-IPO execution issues, worsening retention, revenue deceleration, and little to no FCF support. Fourteen months later, we see a very different picture and are taking the opportunity to upgrade the stock to an Outperform rating.” Piper Sandler upgraded US Foods from Neutral to Overweight. Piper upgraded the food services company following earnings. “Following USFD’s 4Q23 earnings results late last week, we are upgrading the shares to Overweight, from Neutral.” Goldman Sachs Sets ArriVent Biopharma to Buy from Neutral Goldman said the biopharma company has a bid” differentiated and risk-free in select lung cancer populations.” “We initiate coverage on AVBP with a Buy rating and 12-month price target of $27 (approximately 20% upside potential). B. Riley upgrades Brunswick to buy from neutral B. Riley upgrades shipping company after constructive meeting with company management. “After leaving the management meetings at MIBS, [Miami International Boat Show] we are upgrading Brunswick Corporation (BC) from Neutral to Buy, while raising our PT from $100 to $108.” Loop Downgrades WW Grainger to Hold Him From Buying Loop said he sees a more balanced risk/reward for the company than industrial supply.” We are raising our price target to $1,000 per share ($925 previously) and will look to become more constructive again if our survey reveals an acceleration in demand, or further upside for acquisition initiatives GWW shares.” Barclays upgrades AvalonBay Communities to overweight from equal weight Barclays said the property company has an attractive platform. “AvalonBay benefits from its unique development platform (2,600 homes scheduled for delivery in 2024, largely financed by forward capital increases), which helps the company generate relatively solid FFO [funds from operations] growth.” JPMorgan raises Immunovant to Overweight from Neutral JPMorgan said the biopharmaceutical company has a “compelling profile.” “We initiate coverage on IMVT with an OW rating and a December 2024 PT of $51. Northcoast downgrades Texas Roadhouse to neutral From Purchase Northcoast downgraded the Texas-themed restaurant chain primarily based on valuation. “With a clear path to double-digit revenue growth, mid-to-high single-digit unit growth and mid-to-high single-digit SSS, balanced across traffic and pricing/mix, Texas Roadhouse should continue to execute its program to drive system and organic sales growth that supports the company’s current valuation.” Mizuho Updates LivaNova to Buy from Neutral Mizuho said in his LivaNova update that he likes the medical technology company’s new CEO. “We see two crucial paths ahead for the company, both of which can lead to asymmetric upside from the current depressed level.” JPMorgan downgrades Holley from overweight to neutral JPMorgan said the stock will be negative in the manufacturing company’s earnings report next week. “We are downgrading HLLY to Neutral from Overweight and lowering our December 24 PT to $5; also, on Wednesday, February 28, we will place HLLY on Negative Catalyst Watch in 4Q23 earnings.” Morgan Stanley launches CG Oncology as buy Morgan Stanley said the bladder cancer company’s shares were “compelling.” “ CG Oncology is a late-stage clinical company focused on developing therapies for bladder cancer.” UBS Starts Morgan Stanley Direct Lending Fund Under Purchase UBS said the financial services firm is on the defensive. “We initiate coverage on Morgan Stanley Direct Lending with a Buy rating and $23.50 PT. MSDL is a business development company (BDC) focused on middle and upper middle market companies.” Seaport launches Booking Holdings as purchase Seaport said it likes the travel site’s fundamentals. “We are bullish on BKNG’s fundamentals as: 1) the clear leader in online lodging globally, with particular strength in Europe and Asia; 2) we expect long-term high single-digit bookings/revenue growth, driven from global travel growth, online stock gains, expansion of alternative accommodations and increased traction with Connected Trip.” Bank of America Downgrades AIG to Neutral from Buy Bank of America said in downgrading the stock that it sees too many headwinds. “After a strong showing in 4Q23 in both AIG’s General Insurance business and Corebridge, AIG appears to be performing well operationally across nearly all of its businesses. However, AIG shares will face a number of headwinds in 2024.”