Here are the biggest calls on Wall Street on Monday:
Goldman Sachs initiated Dollar General and Dollar Tree as ‘buy’
Goldman initiated the discount retailers and said they add value and convenience to consumers during the economic crisis.
“We initiate coverage on the Dollar stores (DG, DLTR) with Buy ratings: We see the dollar stores as well positioned in this uncertain macro economic backdrop. The dollar stores bring a powerful combination of value and convenience to the cash-strapped consumer. Add elements of unit growth, counter-cyclicality and supportive demographics to this mix, and you get attractive business models slated to perform well in the face of a recession.”
BMO upgraded Nvidia to outperform from ‘market perform’
BMO said the graphics processing company continues to execute and was uniquely positioned going forward.
“We have stayed on the sidelines long enough on the NVDA shares. We are raising our rating to Outperform from Market Perform and raising our target price to $425 from $285. While there is no one single event we can point to which has led us to change our thinking, the continued execution on the data center side, along with the latest product rollout, has helped. We believe NVIDIA is uniquely positioned to continue to benefit from a massive shift in the compute landscape.”