Here are Monday's biggest analyst calls: Apple ,Tesla, First Republic, Roku, JPMorgan Chase & more

Bernstein said the semiconductor institution is overvalued.

"LRCX is much expensive, and it has been adjacent our people terms for immoderate time; fixed we judge determination remains sizeable uncertainty astir representation it feels prudent to determination to the sidelines for present though we proceed to similar the longer word story."

Cowen said it sees an charismatic risk/reward for the biotech company.

"COVID is approaching its tail, arsenic evidenced by expectations for >$5B. MRNA volition beryllium a person successful RSV, and we expect flu A VE information by month's extremity to beryllium superior."

JPMorgan said successful its downgrade of the baccy institution that it sees slowing growth.

"We downgrade British American Tobacco (BAT) to Neutral. Competitive & regulatory risks are gathering successful Vapor, portion BAT's US cigaret trends stay weaker than expected."

Morgan Stanley said it sees respective affirmative catalysts up for Apple.

"However, arsenic we look beyond the near-term, we spot a catalyst-rich lawsuit way implicit the adjacent 12 months that is underappreciated by investors, including reaccelerating iPhone and Services maturation grounds gross margins (we spot the top inflection successful F1H24), 2 caller merchandise launches (AR/VR headset and iPhone 15), and the imaginable instauration of an iPhone subscription program."

Credit Suisse downgraded the machine products institution owed to a deficiency of near-term catalysts for Logitech.

"Continued precocious macroeconomic uncertainties person led the institution to supply guidance lone for H1 and not for afloat FY24, which it plans to instrumentality to successful the future."

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Wolfe downgraded Tesla owed to macro concerns.

"We're inactive convinced of Tesla's awesome outgo trajectory, which should propel awesome maturation implicit time. However, we've besides go incrementally much acrophobic astir macro challenges."

Goldman said the star institution is astir exposed to Silicon Valley Bank, but it's sticking with its bargain rating.

"SVB is besides a facilitator of RUN's involvement complaint hedges and represents <15% of the wide hedging facilities, however, the slope is not the backer of those derivatives, according to RUN."

Baird said it sees an charismatic risk/reward for the determination bank.

"Regional slope risk/reward trade-off improving, and we would get much assertive connected the determination slope side, upgrading TFC to Outperform."

Raymond James treble downgraded the determination slope owed to concerns astir the events astatine Silicon Valley Bank.

"We are downgrading shares of FRC to Market Perform from Strong Buy. While the slope is amended positioned for imaginable deposit outflows connected Sunday evening than it whitethorn person been earlier successful the weekend, if determination are nett deposit outflows, it volition shrink the EPS powerfulness of the bank. Therefore, we person a antagonistic bias to our EPS estimates."

Citi downgraded the banal owed to "model challenges" up of net aboriginal this month.

"We proactively little 2023 estimates beneath Street up of 4Q net connected 3/22 owed to continuing weakness successful discretionary, the imaginable for "trade down" successful favored (=share nonaccomplishment for Petco), and EPS dilution from higher rates."

Wells said successful its upgrade of the banking elephantine that "goliath is winning."

"JPM epitomizes our taxable of 'Goliath is Winning', which should payment some discourtesy (market stock gains) and defence (more diversified) successful these little definite times. We summation ests., PT, and standing to Overweight from Equal Weight."

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Citi said it sees a compelling introduction constituent for the determination bank.

"While the quality should beryllium affirmative for the stocks, it is unclear to america however they volition execute tomorrow. We bash deliberation it makes consciousness to adhd to vulnerability here, truthful of our Holds the astir charismatic sanction present for america is PNC."

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Wells said investors should bargain the dip successful shares of Eli Lilly.

"We are upgrading LLY to Overweight arsenic caller weakness creates a buying opportunity. We deliberation fundamentals of the institution stay the same, and astatine existent levels hazard / reward into donanemab Alzheimer's proceedings whitethorn beryllium skewed to the upside."

Wells said successful its upgrade of the biopharma institution that "weakness creates opportunity."

"We complaint AMGN Overweight, arsenic we deliberation the company's near-to-medium-term maturation profile, including HZNP large merchandise drivers delivering humble sales, tin execute a 6% apical enactment and 10% bottommost enactment CAGR from 2023 to 2026."

Evercore said it's bullish connected the medtech institution that was spun disconnected from General Electric.

"GEHC is simply a caller spin, with 18 Bn of revs and a marketplace headdress of ~34 Bn is simply a sizeable caller entity successful Medtech."

Bernstein said the short-term rental institution is "uniquely positioned."

"There is scope for Airbnb further to monetize postulation to its site, by instigating partnerships with nutrient delivery, car rental, ride-share, and hose platforms Airbnb could some adhd incremental gross from charging referral fees and heighten the idiosyncratic experience."

Oppenheimer said it's lasting by its outperform standing connected shares of the crypto company.

"Many radical volition blasted the SI/SBNY fallout to beryllium a crypto problem, and usage this arsenic an example. The illness of SIVB shows that currency influx successful 2020/2021, accelerated complaint hike successful 2022, plus liability mismanagement, and tally connected the slope are the apt existent causes. We trim our PT of COIN from $84 to $70 to bespeak gross and ecosystem risks."

DA Davidson said it sees an charismatic introduction constituent for the determination bank.

"Given PACW's fiscal update mostly in-line with our 1Q expectations, continued execution of the equilibrium expanse contraction strategy, valuation of 73% of TBV, and a affirmative bias reflected successful our caller update, we deliberation past week's sell-off represents a much charismatic introduction constituent for investors, peculiarly connected the heels of Sunday's announced Bank Term Funding Program (BTFP) by the Fed."

Bank of America lowered its terms people connected Charles Schwab to $60 per stock from $74 and said it's acrophobic astir rising rates.

"The important emergence successful short-term involvement rates implicit the past 12 months is creating large issues successful fiscal services arsenic the outgo (rising) and duration (shrinking) of liabilities are present changing rapidly, which is putting superior intensive fiscal institutions with semipermanent assets successful hard situations."

Mizuho said its bullish connected Meta management's caller moves.

"We applaud the company's efforts to thrust further ratio during economical uncertainty, and FY23E statement implies Reality Labs to incur expenses astatine 12% of revenues successful FY23 (or $14bn), truthful the capableness for outgo optimization is meaningful."

Bank of America said it's bullish connected Alphabet's introduction into AI.

"However, we proceed to spot beardown information and exertion advantages for Google, and spot imaginable for unchangeable hunt metrics and LLM-based (large connection models) merchandise releases implicit the adjacent fewer months to assistance alleviate an overhang successful the stock."

Bank of America said it's lasting by the banal successful the aftermath of the Silicon Valley Bank collapse.

"On Friday Roku disclosed that it has $487mn of uninsured deposits astatine Silicon Valley Bank (SVB) which was closed by the California Department of Financial Protection and Innovation."

Guggenheim said it's lasting by its merchantability standing connected Tesla shares.

"Overall, we judge that with each circular of antagonistic incentives/pricing, buyers are becoming progressively conditioned to expect further antagonistic pricing actions, successful our view."

Citi said the banal is compelling astatine existent levels.

"We are upgrading SCHW to Buy from Neutral. After a 23% diminution implicit the past 2 trading days, we spot a compelling risk/reward astatine existent levels."

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