Here are Tuesday’s top calls on Wall Street: Mizuho Initiates Purchase of Las Vegas Sands Mizuho said it sees an “attractive return on capital opportunity” for the casino and hotel company. “Our thesis has three drivers: (1) Visits to Macau are recovering, with LVS heavily incentivized for mass market recovery, (2) Strategic investments in Macau and Singapore are not reflected in Street estimates, and (3) A compelling return on capital opportunity.” Bernstein reiterates Chipotle outperformed Bernstein raised his price target on the stock to $3,200 per share from $2,800. “We expect to benefit from Chipotle’s recent investments to strengthen its employment value proposition, attract and retain better talent to drive better store operations, leading the brand to reach its new average unit volume goal of $4 million.” Mizuho starts DraftKings as buy Mizuho said in starting DraftKings that he sees “a silver lining in revenue growth.” “Underrated Operating Leverage: Buy Start, $58 PT.” Mizuho Begins Purchase of MGM Mizuho said MGM shares are “fundamentally undervalued.” “Multiple Paths to Value Creation: Startup Buying, $61 PT.” Mizuho launches Carnival as purchase Mizuho said Carnival is the best choice for the company. “Value on the Horizon: Boot with Buy + Best Choice, $21 PT.” CFRA Reaffirms Nvidia as CFRA said it maintains its Buy rating on the stock. “We do not expect NVDA revenue to decline anytime soon, as we expect data center spending to increase again in 2025 after a massive jump in 2024, with the Blackwell platform paving the way for more revenue in the year ahead.” Morgan Stanley upgrades Seagate to overweight from equal weight Morgan Stanley said in its stock update that it is “an attractive multi-year earnings story.” “A cyclical recovery, technology leadership and the potential for Gen AI-related demand mean STX is entering a period of structurally stronger gross margins, with our new bottom-up analysis showing 25-plus earnings power 30% compared to previously estimated.” Goldman Sachs upgrades Nasdaq to buy from neutral Goldman said it sees “multiple expansion” for the stock company’s shares. “We upgrade the NDAQ to Buy from Neutral with a 12-month price target of $73, implying an 18% upside from current levels.” UBS Reaffirms Levi’s Buy UBS said it will maintain its buy rating on Levi’s shares headed for earnings next week. “We expect the company to achieve slight improvement in 1Q24 and maintain its EPS guidance of $1.15 to $1.25 FY24.” JPMorgan reiterates overweight rating on Taiwan Semiconductor JPMorgan said it is maintaining its overweight rating on shares of Taiwan Semiconductor. “All roads in the AI semifinals lead here.” Wells Fargo Reaffirms Gap as Overweight Wells raised its price target on the stock to $32 per share from $25. “We remain bullish on GPS. Yesterday we hosted GPS CEO Richard Dickson and CFO Katrina O’Connell for investor meetings. We believe the turnaround is working, Old Navy and Gap’s confidence is growing and the story of margins should continue to show up Mizuho reiterates Micron after purchasing Mizuho raised the target price of the stock to $130 per share from $124. “HBM [high bandwidth memory] traction could be a key driver of MU DRAM revenue as HBM market grows to around $17.5 billion.” Bernstein reiterates Tesla as underperforming Bernstein lowered his price target on the stock to 120 dollars per share from $150.”Tesla’s stock price remains high on nearly every valuation metric compared to traditional and higher-growth auto OEMs, [original equipment manufacturers] and it also looks expensive relative to its reduced growth expectations when measured against technology companies. Bernstein reiterates Amazon as top choice Bernstein said it will maintain its first-choice status at the e-commerce giant. “Amazon continues to be our first choice based on the thesis that it will continue to deliver OI and FCF inflection, and has given us all the elements to reduce risk in Q4 management.” Citi starts Evergy as buy Citi said it is bullish on the regulated electric utility company. “Evergy is a pure-play electric company formed by the merger of Westar and Great Plains Energy in 2018 and operating in Kansas and Missouri with a rate base of ~$18.6 billion.” Baird adds Semtech to list of new picks Baird said the semiconductor maker is a “hidden gem of artificial intelligence.” “We believe Semtech is very well positioned with the upcoming ramp-up of new AI platforms as one of two players in the industry qualified for high-density copper interconnection.” Jefferies Improves Clorox to Keep Up with Underperformers Jefferies said he welcomes the company’s exit from several Latin American countries. “Clorox exiting Argentina (2% of sales), Uruguay and Paraguay is a long-term positive.” Bank of America adds Spotify to US1 list Bank of America added the stock to its US1 list but removed Netflix. “We are adding Spotify Technology (SPOT) to the US 1 list. We are removing Netflix Inc (NFLX). NFLX remains with a buy rating.” Jefferies initiates purchase of Nutrien Jefferies said he sees “favorable risk/reward” for the fertilizer and agriculture company’s stock. “We initiate coverage of Nutrien with a Buy rating, $62 price target.” Morgan Stanley upgrades Invivyd to overweight from equal weight Morgan Stanley upgraded the biotech company after receiving emergency use authorization for its Covid-19 antibody drug. “Invivyd Clears Significant Hurdle After Receiving Emergency Use Authorization for Pemgarda.” Evercore ISI upgrades PagSeguro to outperform Evercore inline, saying it sees “lots of tailwinds” for the Brazilian financial services firm. “We are upgrading PAGS from In Line to Outperform with a price target of $18.” TD Cowen reiterates that Apple has outperformed TD said he maintains his outperform rating on Apple shares but that his checks show Chinese demand is slowing “We note that weaker Chinese demand and signs of discounting could be a moderate wind otherwise.” New Street starts Reddit as neutral New Street starts the company’s social news website and forum at neutral and says the stock’s valuation is full right now. “We will begin rating RDDT stock with a Neutral rating and our $54 price target is unchanged. We will keep our bull and bear ratings in the model, but they will go by the wayside after trading begins.”