Tesla, Alphabet, Apple, Nvidia, Best Buy, Zillow, and more were among the top analyst calls on Monday

Monday's biggest Wall Street calls:

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Berkshire Hathaway is a buy at UBS

After Berkshire Hathaway's earnings report on Saturday, UBS said it remained committed to its buy rating.

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“Our calculation indicates that BRK's shares are currently trading at a discount of 23% to their intrinsic value, comparable to the 23% discount that has been the norm since BRK resumed share repurchases in 3Q18.”

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Shell is upgraded to buy from neutral by Goldman Sachs

Goldman said it liked the oil and gas company's optionality in its upgrade.

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“For this reason, we upgrade Shell to Buy (from Neutral), believing it has the best combination of assets in the sector, including a leading global LNG business and strong chemical presence.”

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Nomad Foods is upgraded from neutral to buy by Goldman Sachs

The firm sees the frozen food company as an "attractive investment opportunity."

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“Considering the potential upward revisions on the horizon, we view NOMD's near-trough valuation levels, both historically and relative to broader Food peers, as an attractive investment opportunity with favorable risk-reward ahead.”

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Telsey downgrades Best Buy from outperform to market performance

Analysts at Telsey downgraded the stock ahead of earnings later this week, citing a challenging macro environment.

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“From Outperform, we are downgrading Best Buy to Market Perform: Given high inflation and rising interest rates, we expect Best Buy's business to further decline in the near term due to challenging macro trends weighing on discretionary consumer demand, resulting in lower forecast sales and profit for 2023..”

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Willis Towers Watson is upgraded to buy from neutral by Goldman Sachs

As far as the insurance company is concerned, Goldman sees a robust turnaround.

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“We see significant progress being made on turnaround initiatives at WTW, and we see abating tailwinds for more concentrated P&C and commission-oriented brokers, particularly in the back half of 2023 and into 2024.”

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The Bank of America has upgraded Union Pacific to a buy-from-neutral status

Shares of the railroad operator are expected to rise, according to Bank of America.

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“We increase our PO to $241 from $218 on 20x our 2024 EPS of $12.05 (from 20x 2023), given increased confidence in a path to operational improvement, and potential for accelerating gains.”

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Tesla is overvalued, according to Barclays

Prior to Tesla's investor event on March 1, Barclays said it stands by its buy rating.

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“This could be a sell-the-news event given the recent rally, but long-term opportunities are likely to be reinforced – reinforcing our OW rating.”

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The Bank of America reiterates its overweight rating for Alphabet

Alphabet's AI opportunities are bullish, according to Bank of America.

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“Although AI has advantages for Google, it can also increase the value of Alphabet's platforms (search, Cloud, and Waymo) and maintain our Buy rating.”

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Zillow is deemed overweight by JPMorgan

It has been noted that JPMorgan likes the business model of the online housing company.

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“At these levels, both Zillow and Redfin, with solid execution, could drive L-T upside from these levels. In the current volatile environment, we prefer Zillow's large scale, business model, and strong margins.”

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Intuitive Machines is initiated as a buy by Canaccord

Space race analyst Canaccord said the aerospace company is well positioned.

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xGEO (beyond geostationary Earth orbit) is a growing economy that is unique to intuitive Machines, a diversified lunar/space services, and infrastructure company.

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Frontier is upgraded from outperform to strong buy by Raymond James

The cable company's earnings report was deemed "impressive" by Raymond James. An upgrade was given to the company by a brokerage firm.

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“Frontier shares have been upgraded to Strong Buy from Outperform following its impressive 4Q results and continued execution on its post-bankruptcy plan to future-proof itself.”

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State Street is upgraded from equal weight to overweight by Wells Fargo

Wells Fargo said in its upgrade of this financial services company that it should outperform the market during a recession.

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From Equal Weight to Overweight. The STT stock seems to be a heads-you-win stock - outperforms in recessions due to the low credit risk, and tails-you-win stock - no recession is likely to increase our EPS estimates in the near future. In both the 2023E and 2024E scenarios, above the base case of 10%+.

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Nvidia continues to outperform, according to Bernstein

There are many opportunities for Nvidia with AI and ChatGPT, according to Bernstein.

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“Gaming headwinds have normalized, and opportunities in data centers, software, and auto remain early and significant.”

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Pulmonx is upgraded from equal weight to overweight by Wells Fargo

It is valuing the maker of pulmonary devices and technology attractively, Wells said in its upgrade.

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“LUNG has been upgraded to Overweight from Equal Weight. Increasing our price target from $10 to $15, which assumes 5.0x revenue in 2024.”

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Frontier Airlines is upgraded from market performance to outperform by Raymond James

The airline company appears to have a favorable risk/reward profile, according to Raymond James.

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“Based on our fare analysis and industry commentary, we have upgraded ULCC's rating to Outperform, a reflection of an attractive risk-reward ratio and an increased conviction that seasonality explained the revenue shortfall in 1Q23 compared with our earnings forecast for the 4Q22 quarter.”

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Woodward is initiated as an outperformer by Credit Suisse

As part of the initiation of its aerospace control solutions company, Credit Suisse said that it was a "self-help" story.

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“WWD is one of the most severely underperforming companies within our coverage, with FY23E EBITDA 27% below FY19 levels compared to peers tracking toward FY23E EBITDA 15% above FY19 levels.”

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Microsoft is a buy according to Jefferies

Survey checks by Jefferies show users are unlikely to switch from using Google to Bing in the long run.

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“According to our study of 900 consumers, MSFT Bing adoption is positive, but it remains to be seen whether consumers will actually change their LT search habits as a result.”

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Williams Companies is downgraded from outperform to the market performance by Bernstein

Gas prices are falling, which led Bernstein to downgrade the company.

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“Amid the pandemic, we upgraded WMB arguing that gas was defensive, and reiterated that argument in mid-2022 as fears of recession loomed. In the past few months, however, there have been some changes made to the setup.”

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Apple is still a buy for UBS

Apple is the preferred brand in both the U.S. and China, according to UBS survey checks.

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“In the US, Apple was named as the brand most likely to be purchased by 23% of respondents, 400 points above Dell, while in China, Apple was listed by 21% of respondents, for the first time ahead of Lenovo (19%).”