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All the market-moving Wall Street chatter from Monday
(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.) A major chipmaker and a banking giant were among the stocks being talked about by analysts on Monday. UBS raised its price target on Nvidia , calling for nearly 20% upside. Meanwhile, Wolfe Research downgraded JPMorgan Chase to peer perform from outperform. Check out the latest calls and chatter below. All times ET. 5:50 a.m.: UBS hikes Nvidia price target, now sees 19% upside UBS sees more gains ahead for Nvidia . Analyst Timothy Arcuri raised his price target for the graphics processing unit manufacturer to $150 from $120. reiterating his buy rating. This updated target is 19% above Friday’s close. Arcuri pointed to strong demand for Nvidia’s latest microarchitecture as one reason for the price target raise. “Our recent supply chain checks confirm our prior suspicions that demand momentum for Blackwell rack-scale systems remains exceedingly robust,” the analyst wrote. “This comes as sentiment on the stock — though still strong — has faded somewhat in recent weeks, creating more of a ‘wall of worry’ that should be ultimately healthy if our outlook materializes.” Shares of Nvidia have rallied 154% this year to record levels amid optimism around artificial intelligence. — Lisa Kailai Han 5:50 a.m.: Wolfe Research downgrades JPMorgan Chase JPMorgan Chase’s valuation is becoming stretched, and it’s time for investors to step away from the banking giant, according to Wolfe Research. Analyst Steven Chubak downgraded the stock to peer perform from outperform. He also removed his price target of $216, which implied upside of 5%. “We continue to believe that JPM is one of the best run financial institutions, but with valuation approaching all-time highs (on a relative [price-to-earnings] and [price-to-tangible book value] basis), and the firm more exposed to net interest income headwinds from lower rates, we are taking some chips off the table,” Chubak wrote. JPMorgan Chase shares have outperformed this year, rising more than 20%, while the SPDR S & P Bank ETF (KBE) has lost 1% in that time. JPM KBE YTD mountain JPM vs KBE year to date “While JPM should be a flight-to-quality beneficiary in a tougher macro environment, with lofty valuation, a less robust go forward EPS growth profile … we are comfortable taking profits,” the analyst added. The downgrade comes ahead of JPMorgan Chase releasing its second-quarter results on Friday. — Fred Imbert
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