Here are monday's analyst calls of the day: wendy's, southwest airlines, tesla, boeing, amazon & more

Here are the biggest calls on Wall Street on Monday: JPMorgan reiterates Tesla as underweight JPMorgan kept its underweight rating on the auto maker and said the stock is still overvalued

after Tesla reported strong delivery numbers over the weekend. "While our new higher price target continues to imply material potential downside, we do not believe it is ungenerous,

including as it values Tesla as the world's second largest automaker by market capitalization (behind Toyota and ahead of Volkswagen), which is just one notch down vs. its current

(admittedly by far) #1 position despite it ranking as only the 18th largest automaker by unit volume." Read more about this call here. Loop initiates coverage of Warby Parker as hold

Loop said the eyewear company's stock is overvalued at current levels. "All that said, we think our bullish fundamental view is priced into the stock at current levels—particularly

when comparing Warby Parker to other high-growth specialty hardlines retailers. Our price target is based on a discounted cash flow (DCF) analysis." JPMorgan reiterates Levi's as

overweight JPMorgan said it's bullish on Levi Strauss and Co . heading into the denim maker's earnings report on Wednesday. "Digging deeper, our 3Q work points to above-plan

top-line performance in Europe (w/ incremental upside potential to our +10% model vs. 2019) followed by N. America with sequential improvement in Asia 4Q-to-date modeling 4Q EPS of

$0.42." JPMorgan reiterates Caterpillar as overweight JPMorgan kept its overweight rating on the stock and said it sees upside to earnings over the next five years. "On the other

hand, while CAT faces cyclical headwinds from lower global GDP growth, its end markets do not face structural challenges and, as a result, we believe it can deliver significantly higher

earnings and FCF growth over the next five years." UBS reiterates Chipotle as buy UBS raised its price target on the stock to $2,100 from $1,850 and said it sees margin expansion.

"We believe further upside exists for CMG shares given multiple catalysts to support continued comp momentum near & longer-term, accelerating unit growth, and margin

expansion." Wedbush reiterates Wendy's as a best idea Wedbush reiterated its best idea status on shares of the fast food chain and said it's poised to excel in a post

coronavirus environment. "We believe WEN is well-positioned for accelerated top- and bottom-line growth in a post-COVID environment." Barclays upgrades Union Pacific to overweight

from equal weight Barclays said in its upgrade of the stock that it has an attractive valuation. " Union Pacific shares trading below market valuation are a meaningful opportunity for

long-term investors. Railroads and Union Pacific have underperformed the broader market in 2021. The sector previously benefited from the defensive trade during the pandemic in 2020 when

valuations arguably became too stretched and were only further exacerbated by M & A expectations." Read more about this call here. JPMorgan downgrades 3M to equal weight from

overweight JPMorgan said in its downgrade of the stock that it sees limited visibility. "We are downgrading 3M after slight underperformance as we see little progress around (1)

liability management/ring fence or (2) business execution, with limited visibility from a strategic/investor communications perspective on either." Barclays upgrades Southwest to

overweight from equal weight Barclays said in its upgrade of the airline that it favors low-fare and low-cost airlines. "While we find many of the potential drawbacks of the group to

hold merit, relative valuations (assuming future recovery in demand and margins) are beginning to look attractive. We are adding exposure to the group, but in a careful manner, favoring low

cost and low fare airlines by upgrading Southwest Airlines to Overweight." Read more about this call here. JPMorgan upgrades DuPoint to overweight from equal weight JPMorgan said in its

upgrade of the stock that it has "the most attractive positioning with outgrowth potential and high margins." "We are upgrading DD to Overweight as we believe that the stock

has overdriven to the downside, now reflecting myriad risks including raw materials, and the deferred cycle in auto/electronics, the opposite of what happened in December when the stock

peaked." Read more about this call here. Bank of America initiated coverage of Astra as underweight Bank of America said it sees "limited upside" for the space company.

"We initiate coverage of Astra Space with an Underperform rating and a $9 price objective, implying limited upside given the development and commercialization risks ahead."

Oppenheimer reiterates Amazon as outperform Oppenheimer said in a note to clients on Monday that Amazon's supply chain is robust and is best positioned heading into the holiday season.

"We believe that online marketplaces including ETSY (OP, $225 PT), AMZN (OP, $4,200 PT), and FTCH (OP, $45 PT) stand to benefit the most heading into the 2021 holiday season, while WISH

remains the most vulnerable." Baird reiterates Boeing as outperform Baird said the stock is well positioned heading into the end of 2021. "While we have trimmed our estimates

based on delivery cadence, we still like the setup for the BA stock into yearend as China 737-MAX approval is tracking for any day." Deutsche Bank adds a catalyst call buy to Norfolk

Southern Deutsche added a short-term buy idea on the stock and said it is incrementally more positive on the railroad company. The firm kept its long-term hold rating. "We are

optimistic that NSC will achieve a bigger inflection in yield on the back of accelerated pricing opportunity, and we forecast that NSC will report the best yoy (year over year) incremental

ebit margins of all the Rails." Deutsche Bank reiterates McDonald's as buy Deutsche Bank kept its buy rating on shares of McDonald's and says it sees upside to consensus.

"For our part, we count ourselves in the bull camp. Similar to many in the investment community, we forecast upside to numbers; but what we like in particular is that we can get upside

without being overly aggressive in our IOM (international operated markets) segment assumptions."