(This is CNBC Pro’s live coverage of Monday’s analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) Two tech companies were among the names being talked about by analysts on Monday. TD Cowen raised its price target on Apple shares to $250 ahead of earnings later this week. Meanwhile, Guggenheim upgraded Akamai Technologies to buy from neutral . Check out the latest calls and chatter below. All times ET. 6:30 a.m.: Morgan Stanley lists Tesla as a top pick Morgan Stanley automotive analyst Adam Jonas thinks Tesla’s efforts to cut costs has trimmed some of the risk away from the electric vehicle stock. As a result, Jonas listed Tesla as a top pick in the firm’s U.S. Autos segment, which was previously occupied by Ford. Jonas maintained an overweight rating on Tesla stock with a $310 price target, implying more than 41% upside from Friday’s $219.80 close. “The over $0.6bn of restructuring charges recognized by Tesla in the quarter, combined with other actions, has helped lower the breakeven point to levels where Tesla can still generate positive cash flow at an enterprise level, even with EV capacity utilization at 69% last quarter,” Jonas said. “While Tesla is still making cars, we note the company is aggressively redeploying incremental resources, technology, people and capital away from the auto side of the house,” the analyst added. Tesla has slipped nearly 12% in 2024. Shares of the EV firm posted their worst drop since 2020 following disappointing second-quarter results last week. TSLA YTD mountain TSLA year to date â Brian Evans 6:28 a.m.: JPMorgan upgrades Olin, cites price stabilization efforts as catalyst for stock It’s time to buy shares of chemicals company Olin , JPMorgan says. “Olin’s efforts to stabilize chlorine and caustic prices in the US by running at low rates of capacity utilization from the fourth quarter of 2023 through the first quarter of 2024 have been generally successful,” Jeffrey Zekauskas wrote. The analyst upgraded the chemicals stock to overweight from neutral, and reiterated a $55 per share price target. Zekauskas’ forecast implies more than 23% upside from Friday’s close. “Olin should be able to increase its EBITDA in 2025 from volume growth,” he added. “PVC, titanium dioxide, MDI, and water treatment chemical demand should all be higher in 2025 absent recessionary conditions.” Olin stock has ticked down nearly 18% in 2024. OLN YTD mountain OLN year to date â Brian Evans 6:09 a.m.: Piper Sandler downgrades Charles Schwab A shift in Charles Schwab’s strategy could weigh on shares, according to Piper Sandler. The firm downgraded the banking and investing stock to neutral from overweight, and slashed its price target to $64 per share from $80. Moley’s forecast implies roughly 4% downside moving forward from Friday’s close. Schwab announced earlier this month a strategy shift that includes reducing the size of its banking business. The company also reported mixed quarterly results, with earnings per share beating expectations but net interest margin coming in lighter than expected. “While we do not disagree that a less capital intensive model could be a positive for SCHW in the long run (and likely warrant a higher multiple), it adds an element of near term uncertainty that we believe will be an overhang on shares for several quarters,” analyst Patrick Moley wrote. “The company is in the midst of a CFO transition and provided little detail on the expected timing or financial impact of the move which could significantly change the economics that drive nearly half of the company’s revenues,” the analyst added. Schwab stock has slipped more than 3% in 2024. â Brian Evans 5:49 a.m.: TD Cowen raises Apple price target ahead of earnings Artificial intelligence is going to be a main driver to Apple going forward, and the company’s upcoming earnings release could reflect that, according to TD Cowen. The firm raised its price target to $250 per share from $220. TD Cowen’s forecast implies nearly 15% upside from Friday’s close. TD Cowen also reiterated its buy rating on shares. “We expect AAPL to report in-line results and outlook as NT headwinds could include modest China market share loss to Huawei devices, macro impact on consumer demand and FX. Potential key drivers of iPhone demand in C2H include emerging markets (EM) and upgrades to support early Gen AI features,” analyst Krish Sankar said. Sankar thinks iPhone sales will remain robust over the long-term and is a main driver of his outlook on the stock, as he expects annual handset replacement demand of roughly 220 million. The analyst noted that Apple’s forthcoming artificial intelligence suite could be a key catalyst for supporting iPhone replacement demand moving forward. Apple has added more than 13% in 2024. The company will report fiscal third-quarter results on Thursday after the close. AAPL YTD mountain AAPL year to date âBrian Evans 5:49 a.m.: Akamai Technologies gets an upgrade from Guggenheim It’s time for investors to scoop up shares of Akamai Technologies , according to Guggenheim. The firm upgraded the cloud security company to buy from neutral. It also implemented a $128 price target on the stock, which implies upside of 32% from Friday’s close. “We believe the company can leverage its leadership [content delivery network] position to deliver Security and Cloud solutions that will not only provide incremental value in themselves, but will also increase the value of AKAM’s leading CDN business,” analyst John DiFucci wrote. “We believe that CDN technology is foundational to both Security and Cloud, which should improve characteristics such as gross retention, price stability, and therefore, the value of the aggregate total business,” he added. Akamai shares have lost more than 18% this year. In the premarket Monday, they rose 2%. AKAM YTD mountain AKAM year to date â Fred Imbert
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