Here are the biggest calls on Wall Street on Tuesday: Bernstein initiates Regeneron as outperform Bernstein said the biotechnology company is “writing the next chapter of growth. “We initiate coverage on Regeneron with an Outperform rating and $1,125 price target.” Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it’s standing by shares of the automaker. “The way forward. We expect to see earnings revisions trough in mid year before investors contemplate the potential of a new model cycle and Tesla’s optionality to the broader AI theme. Canaccord reiterates MicroStrategy as buy Canaccord raised its price target on the crypto company to $1,810 per share from $975. “Against a backdrop of Bitcoin hitting all-time highs, Microstrategy is not resting on its laurels.” Goldman Sachs downgrades PDD to neutral from buy Goldman downgraded the China online retailer and says the risk/reward is more balanced. “We believe the appetite for investors in valuing PDD’s Temu full business in PDD market cap may be suppressed in the near to medium term on the back of recent US bills, until further policy clarity from key countries.” Citi initiates New York Times as buy Citi initiated the stock with a buy and says it’s in the midst of a “well-executed digital pivot.” “We are initiating coverage of The New York Times with a Buy rating and a $52 target price. Morgan Stanley reiterates Nike as overweight Morgan Stanley said it’s standing by Nike heading into earnings next week. “We see room for a profitability-driven 3Q24 EPS beat with most conviction in potential GM [gross margin] upside.” Jefferies upgrades Carvana to hold from underperform Jefferies said in its upgrade of Carvana that “operational adjustments” appear to be taking hold. “We raise our est’s closer to consensus, upgrade to Hold, and raise our PT to $85 (from $30). That said, concern about potential pressure to unit economics once growth accelerates keeps us from becoming more positive.” Raymond James upgrades Coinbase to market perform from underperform Raymond James said it still has long-term doubts about the stock, but that ETF inflows is “driving crypto valuations higher.” “Our long-term bias on Coinbase remains negative, but we no longer believe Underperform is the appropriate near-term investment rating.” JPMorgan upgrades Dollar General to neutral from underperform JPMorgan raised its price target on the stock to $158 per share from $120. “DG â Upgrading to Neutral Raising Price Target to $158.” RBC initiates Dexcom as outperform RBC said the diabetes medtech company is “executing and innovating. ” DexCom is a global MedTech company focused on treating diabetics with its best-in-class continuous glucose monitors.” Bank of America reiterates Apple as buy Bank of America said its survey checks show that the iPhone is gaining share. “Apple’s pricing strategy is driving both unit and rev share.” Argus upgrades Southwest to buy from hold Argus said in its upgrade of the stock that the outlook is improving. “Upgrading to BUY with a $40 target. The company’s outlook has improved over the past several months as Southwest and other airlines have opted to limit capacity growth following a post-pandemic spike.” Evercore ISI reiterates Apple as outperform Evercore says the selloff in Apple shares is “overdone.” “We think the sell-off is rather overdone, while we suspect there is strong valuation support at current levels to down 10%, there are three distinct drivers that could unlock upside on the stock from here â a) Cap allocation, b) AI inferencing, and c) Risk-off/defensive shift.” William Blair upgrades Oracle to outperform from market perform William Blair upgraded the stock following earnings and says it sees “sustained growth acceleration.” ” Oracle reported a solid print, with roughly in-line results for the third quarter, though fourth-quarter guidance was modestly below consensus.” Canaccord initiates Central Garden & Pet as buy Canaccord said the garden and pet retailer is a “roll-up story with organic growth.” “We are initiating coverage of Central Garden & Pet ( CENT) with a BUY rating and $52 price target.” Goldman Sacks reiterates FedEx as buy Goldman said the stock’s valuation is attractive heading into earnings next week. “At the end of the day, we point out our FY 3Q EPS estimate reduction of about 12% for FDX is in line with the 12% median EPS estimate reduction we made to companies in our coverage post 4Q EPS.” Macquarie upgrades Sony to outperform from neutral Macquarie said in its upgrade of Sony that its video game Helldivers II is a “potential game-changer.” “While we continue to see structural challenges in the games business, we think the post-3Q expectational reset limits further downside.”