Here are the biggest calls on Wall Street on Monday: Credit Suisse reiterates Apple outperformance Credit Suisse said it looks to beat estimates at Apple earnings later this week. “Our estimates may prove to be conservative given: the weakening of the US dollar throughout the quarter, which from a translation perspective benefits revenue and could benefit margins, as Apple continues to offset the strong dollar in several countries.” As pricing has escalated.” Goldman Sachs started with Macy’s as a buy and Kohl’s as a sell. The firm also took the initiative to Cole and said it sees “competitive pressures”. “While some signs of a soft landing are starting to emerge, and cost and inventory improvements are building in 2H, we see an uneven path ahead for the department store sector as they fight for market share in a competitive environment.” Barclays reiterates Amazon as overweight Barclays said it is staying bullish on the e-commerce giant’s earnings later this week. “Amazon is the leader in the largest TAM [total addressable market] And consumer is the lowest-penetration sector in the Internet and enterprise (e-commerce, cloud, etc.), and continues to expand its moat through strong execution. An attractive entry point. “Upgrade to OW as top HPC pick; stock pullback provides a good entry point into a solid long-term story.” Shares from Neutral to Buy as we look to enter ’23’ to SHOP in tough comparisons Let’s look at the last. Stifel upgrades Octa to Buy from Hold Stifel in its upgrade to Identity Access Management Company said it is beginning to see signs of stability.” Big disappointment from Dear, given the many moving parts.” Credit Suisse downgrades Old Dominion from Neutral to Underperform. “We downgrade ODFL from Neutral to Underperform, as its recent gains have pushed the stock raised it to above our $323 price target, which we leave unchanged based on our 27x target P/E on 2023e EPS.” Bank of America reiterates Meta as neutral Bank of America said it Wednesday Meta monetization is cautious.” Check our channel and tell eCommerce data Te 4Q’22 ad spend remained soft, although Meta could benefit from intra-quarter FX and Twitter share shifts. 1Q suggests mixed spending for check customers (some down, some up) but seemingly less downside. 1H Digital Ad Spending Risks Major Slowdown.” Berenberg Upgrades Tesla To Buy From Hold Berenberg said in his upgrade of Tesla that “factory innovations support long-term margins.” And beyond pricing pressure, we view underlying margins as likely to accelerate over time.” Read more about this call here. Evercore ISI reiterates Alphabet as an outperformer Evercore said it will “with a cautious setup sees margin downside” when the Internet giant reports earnings later this week. “We view the Street’s Q4 gross revenue estimates as reasonable, and the Street’s Q4 Op margin of 24.3% a moderately aggressive, which is higher than ex- Covid see typical 400bps of sequential margin decline, and as we believe GOOG’s record high headcount adds in Q2 and Q3 should put pressure on operating margins in Q4 and ’23. Baird Downgraded Boot Barn to Neutral from Outperform Baird downgraded the stock primarily on valuation. “With our 2023 group outlook we reduced F2023-2024E EPS and indicated a willingness to downgrade given our concerns about macroeconomic risks. BOOT’s FQ3 report last week allayed fears about ‘overearnings’ Highlighting continued solid performance while dismissing.” Moffett said at the start of Uber that it sees upside, as Uber and DoorDash outperform. The firm also pitched DoorDash and said it likes the company’s long-term potential. “We initiate outperformance on DASH with $79 pt. Our thesis is long-term in nature and is supported by our outlook on unit economics in the core restaurant business. …. We have more upside but less upside on Uber with $47 pt.” Let’s start with better performance. conviction than DASH.” JP Morgan reiterates Netflix as overweight JPMorgan said it sees “cost discipline” and “rapid revenue growth” for the streaming giant. “After the recent strong 4Q earnings, we remain bullish on NFLX shares because: 1) Content, advertising and payment sharing should accelerate FXN. [FX neutral] revenue growth by 2023; 2) Operating margins expand due to faster revenue growth and tighter cost discipline.” JMP reiterates Coinbase as outperforming the market JMP said that despite the stock’s recent performance, the firm sees several long-term positive catalysts. And Coinbase is sticking with its rating on the stock. Citi reiterates Buy UPS as Citi said it maintained its Buy rating on UPS shares ahead of Tuesday’s earnings call. However, the larger follow-through will be challenging as looming union talks escalate. could offset attractive valuations.” We expect near-term weakness in the data center to weigh on the 1q outlook, and our initial belief is that the company could guide the full year to roughly the consensus number , Given the Intel issues and the new CFO, there may be risks. But the opportunity remains significant.” Morgan Stanley reiterates Southwest Airlines as an overweight Morgan Stanley said it is sticking with airline stocks. Franchise, MGMT. Team, and Cycle 2023 and LT targets in our view. should be sufficient to meet that risk. ; We continue to view AXP as best positioned to handle macro volatility among card issuers.” We have an Outperform rating because we believe REGN LargeCap Biotech is one of the most fundamentally attractive companies in the U.S.” Read more about this call here. Tudor, Pickering, Holt & Company downgraded Chevron to hold buy. “Shifting to the edge as we view shareholder returns and free cash flow growth as offering limited differentiation versus peers.”