Here are Monday's greatest analyst calls of the day: Apple, Target, Charter, Bumble, Weber & extra

Here are Monday’s greatest calls on Wall Street: Wells Fargo upgrades Target to chubby from equal weight Wells mentioned the market is simply too pessimistic on Target shares. “TGT’s sell-off provides the opportunity to pick up a proven share gainer into an underappreciated earnings recovery at the right price, in our view. Read more about this call here . UBS downgrades Weber to sell from neutral UBS said in its downgrade of the grill company that it has concerns about slowing growth. “We downgrade WEBR to Sell from Neutral with PT of $4 ($8 beforehand), as we revise EBITDA ests for subsequent yr to come back in at $173M, under ’19 ranges, and considerably under Street’s $222M. We mannequin gross sales -0.4% for ’23, nonetheless, we may see prime line declining additional.” Atlantic Equities downgrades AbbVie to neutral from outperform Atlantic Equities said that it sees a more balanced risk/reward for AbbVie . “We see extra restricted near-term upside for key progress drivers throughout the Immunology, Haematology and Aesthetics franchises coupled with extra balanced threat/reward from a valuation perspective and downgrade to Neutral.” Pivotal downgrades Sirius XM to hold from buy Pivotal said it’s concerned about recessionary conditions next year. “After SIRI reported an in line 2Q end result, reiteration of full yr monetary steering, and an unsurprising discount in ’22 self-pay web additions forecasts, we decreased our ’22 self pay new subscriber forecast and decreased the ramp in self-pay subscribers/ARPU/promoting in ’23+ to account for what we consider shall be a major 1H’23 recession.” Wells Fargo downgrades Stanley Black & Decker to equal weight from overweight Wells said that uncertainty is a little high for Stanley Black & Decker . “A dramatic swing in Tools & Outdoor demand tendencies throughout Q2 resulted in an almost 50% adj EPS mid-pt minimize. Management responded with important price out plans. Stable demand from right here and execution on price out units up good 2023 earnings energy. However, it is too early, in our opinion, to name for steady demand tendencies. In explicit, we’re involved that the Pro buyer phase may very well be subsequent to melt.” Wolfe initiates Palo Alto Networks as outperform Wolfe said in its initiation of the cybersecurity company that it’s a good place to “conceal out.” “In our opinion, PANW is a consensus lengthy as traders look to cover out in safety names that may ship each progress and free money stream margins at a gorgeous valuation.” Read more about this call here . Jefferies downgrades Bumble to hold from buy Jefferies said the dating app company’s stock valuation is no longer compelling. “Finally, we now not view BMBL’s valuation a number of at 26x FY23 EBITDA as compelling particularly in comparison with MTCH at 18x. We decrease our FY22 EBITDA estimate by 1% to account for incremental FX headwinds.” Cowen downgrades American Eagle Outfitters to market perform from outperform Cowen said it sees a “near-slowdown” for American Eagle . “Cowen appreciates Aerie’s aggressive moats highlighted by our proprietary survey, however near-term warning primarily based on markdown stress, increased enter prices, waning client demand, & a near-term slowdown in Aerie.” Jefferies downgrades Deckers to hold from buy Jefferies said in its downgrade of Deckers that it sees slowing margin growth for the shoe company. “We assume at Hold with a $300 PT on a extra tempered view of sustained pandemic pushed progress and slowing margins as a consequence of macro threat.” Barclays downgrades Comcast to equal weight from overweight and Charter to underweight from equal weight Barclays said it expect slower subscriber growth for the cable giants. “With full yr broadband sub progress at Comcast and Charter now anticipated at ~300k and ~200k respectively this yr (vs our pre-Covid forecast of 1.2-1.4mm every), the rising debate is prone to be concerning the probability of doubtless detrimental broadband sub progress subsequent yr and past provided that the macro backdrop and aggressive setting seems prone to worsen.” Read more about this call here. Disclosure: Comcast is the owner of NBCUniversal, parent company of CNBC. Morgan Stanley reiterates Apple as overweight Morgan Stanley said that Apple’s 10-Q statement shows “provide enhancements & confirms app retailer deceleration.” “While Advertising stays a prime Services driver, we’re extra cautious on the near-term outlook. Advertising primarily represents Google’s visitors acquisition price funds to Apple, in addition to income from Apple’s App Store search advert enterprise.” Wells Fargo upgrades Colgate-Palmolive to equal weight from underweight Wells said there’s potential for “revenue enchancment forward.” “We suppose being constructive CL is now (and has been) consensus amongst many traders. We’re not precisely there—EPS was nonetheless maintained down MSD this yr, and far has to go proper for this restoration to unfold into subsequent yr; nonetheless, unfold it might, and we’re particularly changing into extra snug with a brewing gross margin story at CL.”