Listed here are Monday’s largest calls on Wall Road: UBS downgrades Worldwide Flavors to impartial from purchase UBS mentioned it sees a slowing restoration for the flavors firm. “We now count on a slower restoration in IFF’s markets & much less worth/value advantages vs. prior assumptions.” Barclays reiterates Apple as equal weight Barclays mentioned the iPhone 15 cycle is “not cycle.” “We reiterate our EW on AAPL. We’re within the camp that IP15 shouldn’t be cycle on demand weak point and elongation of substitute cycles” Piper Sandler upgrades Well being Catalyst to obese from impartial Piper upgraded the info and analytics well being care firm after its earnings report. ” HCAT reported stable 3Q23 outcomes, exceeding the midpoint of steerage throughout each revenues and adjusted EBITDA.” Stifel upgrades CrowdStrike to purchase from maintain Stifel mentioned it sees a slew of constructive catalysts forward for the cybersecurity firm. “Internet/internet, we imagine CrowdStrike has a lot of secular and company-specific drivers to maintain at the least low-to-mid 20% development and working margin/FCF enlargement in coming years.” KBW upgrades Axis Capital Holdings to outperform from market carry out KBW mentioned it is getting bullish on the chance switch firm. “We improve AXS’s shares to Outperform from Market Carry out and lift our 12-month goal worth to $66 from $59 following its 3Q23 earnings report and convention name.” Bernstein upgrades TripAdvisor to outperform from market carry out Bernstein mentioned in its improve of TripAdvisor that it sees money era. The agency raised its worth goal to $21.40 from $14.80. “Goal worth strikes to $21 on revised estimates put up Q3, introduced buybacks and a small change to the valuation framework that offers extra credit score to ST [short term] margin/money era over development.” Bernstein names Airbnb a high choose Bernstein mentioned it sees a powerful 2024 for the web journey firm. ” Airbnb ought to have a powerful 2024 – high line development ought to speed up as pricing instruments and world efforts take maintain and we count on to get the primary bulletins on ancillary revenues.” BTIG initiating Gitlab as purchase BTIG mentioned the event ops software program firm is properly positioned. “Briefly, we predict GTLB is properly positioned to realize share with its platform providing in a quickly rising ~$40B DevSecOps goal market.” Raymond James upgrades Guardant Well being to outperform from market carry out Raymond James mentioned traders should purchase the dip in shares of the oncology well being care firm. “We’re upgrading shares of Guardant Well being to Outperform from Market Carry out following a 22% decline since earnings final Monday.” Raymond James upgrades Natera to sturdy purchase from outperform Raymond James mentioned bear considerations have been “quashed” for the DNA testing firm. “We’re upgrading shares of Natera to Sturdy Purchase from Outperform as 3Q outcomes successfully quashed major bear considerations leaving a inventory we view as poised for main outperformance even after the 13% improve put up print.” Citi upgrades Hewlett Packard to purchase from impartial Citi mentioned it sees “constructive PC momentum.” “We improve HP to Purchase from Impartial. Our Purchase thesis is based on: 1) continued enhancements in PC ecosystem with stock digestion accomplished, with potential for AI on PCs to drive greater income development in outer years; 2) important cost-takeout which we imagine is supportive of margins and earnings restoration forward.” Jefferies initiates PepsiCo as purchase Jefferies known as PepsiCo a defensive inventory. ” Pepsi is probably the most sturdy enterprise in our protection, and the almost definitely to develop earnings high-single digits or higher within the subsequent three years (probably higher). Hefty investments over the past half decade are yielding outcomes, and we count on returns to speed up.” Jefferies initiates Procter & Gamble as purchase Jefferies mentioned in its initiation of the inventory that it is a high and backside line development chief. “Each certainly one of our corporations tries to activate the flywheel impact. Few get there. After they do, it is highly effective. When they’re massive, the flywheel endures. We predict P & G will proceed to drive peer-leading high and bottom-line development over the subsequent 4 years..” Jefferies initiates Constellation Manufacturers as purchase Jefferies mentioned it sees an extended runway for development for the beer firm. “So much has modified, however not the inventory worth. Constellation has grown properly and laid out a rational pathway to maintain going.” Jefferies initiates Monster as purchase Jefferies mentioned known as Monster a development story. “Core power is robust, the worldwide alternative is important, and new development vectors (Vitality+, alcohol, water) should not but totally appreciated.” Jefferies initiates Colgate-Palmolive as purchase Jefferies mentioned it sees a “reinvigorated” model lineup for Colgate. “We see +16% upside in CL shares within the subsequent 12 months, outpacing friends. Colgate has reinvigorated manufacturers and retooled capabilities, reminding us of P & G in ’18-19.” Morgan Stanley initiates Mirum Prescription drugs as obese Morgan Stanley mentioned in its initiation of Mirum that it is a “chief” in uncommon liver illness. “Chief in Uncommon Liver Illness with A number of Catalysts Forward; Provoke at Obese.” Edward Jones upgrades Oracle to purchase from maintain Edward Jones mentioned Oracle shares are discounting the corporate’s improved gross sales outlook. “Whereas Oracle has traditionally traded at a reduction to friends, we predict shares don’t adequately mirror our improved gross sales development outlook.” Citi initiates Olin as purchase Citi mentioned it sees a pretty shopping for alternative for the chemical firm. “We predict OLN is greatest positioned to seize incremental worth in a upcycle given the corporate’s chlor-alkali market share, North America ECU [electro chemical unit] manufacturing value benefit and long-term demand outstripping capability additions. Citi reiterates Amazon and Meta as purchase Citi mentioned it is bullish on the partnership between Amazon and Meta. “As we enter the all-important vacation purchasing season—we imagine Vacation eCommerce gross sales develop +LDD Y/Y—and as Social Commerce adoption grows, we imagine this partnership can ship incremental gross sales and we reiterate Purchase scores on high picks META & AMZN. ” Truist initiates Cintas as purchase Truist initiated the uniform and cleansing firm with a purchase and says it sees margin upside. “We’re initiating protection of Cintas (CTAS) with a Purchase ranking and $625 PT. In our view, a return to normalized pricing will increase and moderating enter prices (labor, supplies, gas) may drive upside margin beneficial properties and FY26 consensus EPS 10%+ greater.” Citi reiterates Eli Lilly as purchase Citi mentioned it is standing by its purchase ranking on the inventory. “We see solely upside for Lilly after this weekend’s long-awaited presentation of the SELECT information for Novo’s GLP-1 Wegovy.” Melius downgrades Southwest to promote from maintain Melius mentioned the airline’s technique shouldn’t be working. ” Southwest’s technique to outgrow their points shouldn’t be working. What made Southwest arguably probably the most profitable airline of all time is the simplicity of the mannequin (all 737), a point-to-point community providing extra non-stops within the US than the competitors, community depth and breadth, and a relentless deal with customer support and productiveness.”