Wall Street banks lift CoreWeave, Intel and Datadog in broad round of analyst rating changes

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Analyst rating changes overview

Highlights

Goldman Sachs upgrades CoreWeave to buy with a 73% upside to a $106 price target despite a cut from $139, citing undervaluation.
JPMorgan upgrades Intel to neutral from underweight after a 36% pullback since June, citing a more balanced risk-reward profile.
Morgan Stanley raises Meta's price target to $820 from $775 and upgrades Boyd Gaming to overweight, while Bernstein upgrades Datadog to outperform on anticipated AI tailwinds.

Brokerage calls span tech, energy and consumer stocks

As reported by CNBC, Goldman Sachs upgrades CoreWeave to buy from neutral and says the stock is undervalued, with 73% upside to its $106 price target despite a cut from $139. Morgan Stanley also names Amazon a top pick and raises its price target to $350 from $335, citing a roughly 3-to-1 risk-reward profile and multiple upcoming catalysts.

Morgan Stanley reiterates SpaceX as overweight ahead of earnings later this week, saying investors underappreciate its role in what it calls the Physical Intelligence Economy. The bank also reiterates Meta as overweight and lifts its price target to $820 from $775, while Bernstein upgrades Datadog to outperform from market perform on expected AI-driven tailwinds.

JPMorgan upgrades Intel to neutral from underweight, arguing the risk-reward profile is becoming more balanced after the stock pulls back about 36% from its June peak. Bank of America reiterates Apple at buy and says its checks show elongated iPhone shipping times, with the global average ship time for the iPhone Duo standing at 82 days as of Oct. 19.

Morgan Stanley also upgrades Boyd Gaming to overweight from equal weight, saying the recent sell-off in gaming stocks creates a dip-buying opportunity even as demand trends remain mixed across the sector. Elsewhere, Bank of America upgrades Dow to neutral from underperform on what it sees as near-term stabilization, linked in part to geopolitical instability in the Middle East and the risk of a higher-for-longer crude oil environment.

AI demand and earnings outlook drive market impact

Several of Monday's calls are tied to expectations for AI spending, earnings momentum and valuation resets across sectors. KeyBanc reiterates Nvidia as overweight ahead of earnings later this quarter, saying continued acceleration in AI demand across GPUs and CPUs should support stronger results and guidance, while Morgan Stanley upgrades Global-E Online to overweight from equal weight because the bank sees the shares as too cheap relative to growth prospects.

In payments and biotech, KeyBanc upgrades Global Payments to overweight from sector weight on improving cash flow, capital returns and stabilizing growth, while Canaccord initiates Maze Therapeutics at buy and calls the company best in class. Citizens also initiates Resideo at outperform, pointing to upside for the residential sensing and controls manufacturer.

Healthcare and consumer internet names also draw more constructive views. Bank of America reiterates Eli Lilly at buy and raises its price target to $1,397 from $1,341, citing sector re-rating and supportive survey data, while Evercore ISI upgrades Match to outperform from in line and raises its price target to $53 from $39 on signs that Tinder user recovery is accelerating.

Our earlier analysis of the S&P 500 slide highlighted how weakness in technology and semiconductor stocks—alongside doubts about the durability of AI-related investment and rising borrowing costs—dragged the index lower. We also noted the technical picture (trading below the 20- and 50-day moving averages) and flagged key near-term levels, with yields and inflation data amplifying volatility and risk sentiment.

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