(This is CNBC Pro’s live coverage of Monday’s analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) An apparel giant and a major electronics and appliances retailer were among the stocks being talked about by analysts on Monday. Morgan Stanley lowered its price target on Nike. Meanwhile, UBS upgraded Best Buy to buy from neutral. Check out the latest calls and chatter below. All times ET. 6:55 a.m.: Goldman Sachs upgrades Toll Brothers Goldman Sachs said Toll Brothers could gain from here as the company continues to capture building demand. “Given our view new home sales will continue to outperform, we are increasingly confident Toll’s revenues, profitability, and returns will hold ahead of historical norms, supporting our more optimistic outlook,” analyst Susan Maklari said. “We also see near-term upside driven by the benefit of customization and upgrades, even in units started and then sold, along with growth as the company purchases lots from smaller, private peers.” The analyst upgraded the construction stock to neutral from sell and raised her price target to $124 per share from $112, implying about 4% upside from Friday’s $119.32 close. Toll Brothers has surged more than 16% in 2024. “Given our view new home sales will continue to outperform, we are increasingly confident Toll’s revenues, profitability, and returns will hold ahead of historical norms, supporting our more optimistic outlook,” the analyst added. — Brian Evans 6:45 a.m.: UBS upgrades Newmont UBS thinks rising gold prices into 2025 can help lift Newmont Corporation moving forward. The firm upgraded the gold mining company to buy from neutral and raised its price target to $50 per share from $40. UBS’ forecast implies more than 22% upside from Friday’s $40.82 close. Analyst Daniel Major noted upside potential tied to an above-census forecast for gold prices, underperformance thus far in Newmont stock and benefits forthcoming divestments helping grow cash returns. “Post divestments NEM will have one of the best portfolio’s in the industry consisting of predominantly large long-life assets in low risk jurisdictions & attractive brownfield growth projects,” Major said. “If NEM can rebuild investor confidence we believe they can recapture a valuation premium.” Newmont stock has ticked down more than 1% in 2024. — Brian Evans 6 a.m.: UBS upgrades Best Buy, forecasts outperformance ahead UBS thinks a potential forthcoming appliance upgrade cycle as well as new product offerings could lift Best Buy stock. Analyst Michael Lasser upgraded the retailer to buy from neutral and raised his price target to $106 per share from $85. UBS’ forecast implies about 22% upside from Friday’s close. Lasser said the convergence of these tailwinds could “come together to drive a nice recovery in BBY’s sales in the back half of ’24E and into ’25E.” “It should be evident that BBY’s market share tends to flourish at the earlier stages of a product cycle,” Lasser said. “BBY’s restructuring efforts should lead to significant earnings torque as comps improve.” Best Buy stock has climbed 11% in 2024. “Its employees per store has fallen from 102 in FY’20 to 77 last year. Even if this rises to 83, and BBY comps up 3% next year, it could drive EPS of $7.30+ (versus cons. $6.70 today),” the analyst added. — Brian Evans 6 a.m.: Morgan Stanley trims Nike price target Morgan Stanley is taking a slightly cautious stance on Nike ahead of the company’s earnings report later this month. The bank reiterated its overweight rating on shares but trimmed its price target to $114 from $116. “We remain Overweight rated on many potential catalysts over the NTM, as well as the prospect for positive EPS revisions heading into 2H25 against negative sentiment/low valuation,” wrote analyst Alex Straton. “But, we think the stock could prove range-bound until the late-Fall Investor Day while NKE’s strategic direction & L-T growth/ profitability potential are unclear.” Nike shares have struggled in 2024, losing 14%. That makes them one of the five worst-performing names in the Dow Jones Industrial Average . NKE YTD mountain NKE year to date The apparel giant is slated to post earning June 27 after the bell. — Fred Imbert
