Here are Monday’s biggest calls on Wall Street: Morgan Stanley reiterates Disney as overweight Morgan Stanley raised its price target on the stock to $135 per share from $110. “By the end of FY24, the two most impactful businesses to DIS shares should be inflecting – with streaming turning profitable and Parks growth accelerating. Piper Sandler upgrades Dutch Brothers to overweight from neutral Piper said the coffee chain is well positioned. “Following BROS’ recent 4Q23 results, and after contemplating several dynamics that we explore further in the body of this note, we are upgrading shares of BROS to Overweight, up from our previous rating of Neutral.” Guggenheim upgrades GSK to buy from neutral Guggenheim said it sees upside potential for the biopharma company. “We are upgrading GSK to BUY from NEUTRAL following key revenue updates, coupled with increased confidence in margin benefits, pointing to attractive upside potential in the stock, particularly if the Zantac overhang resolves.” Baird upgrades Squarespace to outperform from neutral Baird said the website building company is undervalued. “We think there has recently been a meaningful shift in investor sentiment regarding the web building category – and in our view, SQSP has not participated to a sufficient degree despite healthy execution, revenue growth, and margin expansion.” UBS upgrades Norfolk Southern to buy from neutral UBS said it sees margin improvement for the railroad. “We are upgrading NSC to Buy from Neutral because we expect stronger performance in NSC’s merchandise network.” Goldman Sachs initiates Super Micro as neutral Goldman said the stock is an “AI winner” but that valuation is full right now. “We initiate on Super Micro Computer ( SMCI) with a Neutral rating and 12-month target price of $941.” Bernstein reiterates Tesla as underperform Bernstein said the stock remains overvalued. “On one hand, Tesla’s focus on differentiated high volume products has worked, with the Y and 3 delivering record volumes. On the other, one could argue Tesla’s success until recently was that it was early to offer compelling EV models.” JPMorgan reiterates Alphabet as overweight JPMorgan said it’s sticking with Alphabet in the face of numerous headwinds. “Investor frustration has boiled over around the recent Gemini issues, but we believe there is also a manifestation of uncertainty around the growth & positioning of search in a Gen AI world going forward, lack of clear goals & targets in…
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