Here are Monday’s biggest calls on Wall Street:

TD Cowen reiterates Nvidia as a top pick

TD Cowen said the company will continue to ride the “AI tailwinds.”

“We anticipate a smooth print/guide for NVIDIA which is in a ‘sweet spot.’ Blackwell ramp is beginning (and supply constrained), and we’re probably too early in the cycle for much noise to come on Blackwell Ultra.”

Morgan Stanley reiterates Tesla as a top pick

Morgan Stanley raised its price target on the stock to $430 per share from $400.

“In our view, Tesla’s recent share price appreciation has begun to discount the expanding ‘surface area’ between Tesla and physical AI including the company’s natural advantages in terms of data collection, robotics, energy storage, AI/compute, manufacturing and supporting infrastructure - including the benefits of working across Elon Musk’s other companies.”

JPMorgan reiterates Alphabet as outperform

JPMorgan said Alphabet is a top idea in 2025 and that its survey checks show it is a top artificial intelligence beneficiary.

“Investors surveyed expect GOOG/L to be the biggest beneficiary of GenAI (35% of respondents).”

Morgan Stanley names Amazon as a top pick

The firm said the stock is underappreciated.

“AMZN becomes Top Pick as we see GPU-related [graphic processing units] investments widening its retail advantage to take more share, more profitably.”

Morgan Stanley reiterates Meta as overweight

The firm said it is bullish on the stock in 2025.

“META is our GenAI compounder with multiple call options that could come into view.”

Guggenheim reiterates Netflix as buy

Guggenheim raised its price target to $950 per share from $825.

“Netflix remains the undisputed streaming leader, and we continue to see that leadership position driving sustained, long-term shareholder returns.”

Bernstein reiterates Eli Lilly as outperform

Bernstein said the stock is its top idea in 2025.

“Lilly is still our top-pick going into 2025, we see them taking a clear leadership position (particularly with the opening from Cagrisema readout and continuing to lead on the path to next-generation Obesity therapies & the possibility for differential policy pressure relative to NOVO.”

Evercore ISI upgrades Chewy to outperform from in line

Evercore ISI said the pet company is well positioned.

“First, industry reports, channel checks, and our own proprietary consumer survey suggest that the U.S. Pet Industry has stabilized after two years of decline, with evidence of both cyclical growth greenshoots and ongoing secular Online penetration.”

Jefferies downgrades Pinterest to hold from buy

Jefferies said it is concerned about slowing growth.

“Downgrade PINS to Hold (from Buy) on expectations of slower Performance+ rollout and margin growth against more muted ad checks.”

Needham upgrades KLA to buy from hold

Needham said the semis company is the “place to go to” in 2025.

“We are upgrading KLAC to Buy. We were previously cautious on KLAC due to its high China exposure and management’s overly bullish view on China WFE [wafer fab equipment] in 2025.”

Deutsche Bank adds a catalyst buy on 3M

The firm said it is bullish into the company’s investor day in February.

“3M stock has moved broadly sideways since 3Q24 earnings season, and we think the next major catalyst is approaching, the February 26, 2025 Investor Day.