Here are Monday’s biggest analyst calls on Wall Street: Morgan Stanley names TSM a research tactical idea Morgan Stanley said it sees shares of Taiwan Semiconductor going higher heading into earnings later this week. “We believe the share price will rise in absolute terms over the next 15 days. We view the 2Q22 earnings call on July 14 an important stock catalyst. Most US investors appear to believe that the results may be a non-event, as the key is the 2023 outlook.” Goldman Sachs upgrades Mattel to buy from neutral Goldman said it likes the toy company’s product innovation. “Against the backdrop of increasing macroeconomic uncertainty, we believe that MAT stands out in benefiting from several company specific demand drivers in TV & film content releases, the returning Disney Princess toy license in 2023, and new product innovation.” Goldman Sachs downgrades Occidental Petroleum to neutral from buy Goldman said it sees better value elsewhere in the firm’s coverage. “While we continue to see positive debt reduction from OXY’s Upstream/Chemical operations, we believe this is largely reflected in the shares and note that larger-than-expected debt reduction can continue to serve as a positive catalyst for the stock.” Jefferies downgrades Lululemon to underperform from hold and Under Armour to neutral from buy Jefferies said in its downgrade of Lululemon that it sees rising competition. The firm also downgraded Under Armour and said fundamentals are “lagging.” “While the athletic apparel & footwear sector should continue to grow, COVID likely pulled forward demand with LULU one of the biggest beneficiaries. As a result, we see risks to cons. estimates ahead as competition rises and headwinds grow. At UAA, we are concerned with mgmt volatility and lagging fundamentals. Thus, we are downgrading LULU (Underperform) and UAA (Hold).” Goldman Sachs downgrades Upstart Holdings to sell from neutral Goldman said it sees increasing competition for the consumer lending company. “Although UPST’ s ~9% penetration of the U.S. personal loan market through 2021 has been impressive, we believe the recent slowdown in origination and revenue growth is evident of heightened competition and increasing funding costs for UPST partners, which reduces visibility into long-term growth and share gains beyond 2023 that historically have justified UPST’s premium valuation relative to peers.” SocGen upgrades Bank of America to buy from hold SocGen said Bank of America is a “quality…
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