Here are Tuesday’s biggest calls on Wall Street: Deutsche Bank reiterates UnitedHealth as buy The firm lowered its price target on the stock to $328 per share from $362, but said it’s sticking with its buy rating. “UNH is scheduled to report Q2 earnings on Tuesday, July 29, before market open. Since pulling guidance after Q1, investor sentiment has deteriorated significantly amid a series of negative headlines spanning both company-specific and broader industry headwinds. Compass Point downgrades Circle to sell from neutral Compass said it’s concerned about the effect of the recently signed stablecoin legislation. “After U.S. stablecoin legislation passed last week, we are downgrading CRCL to Sell from Neutral and reducing our PT to $130 (-$75).” TD Cowen initiates Royal Caribbean, Carnival and Norwegian as buy TD Cowen said the cruise company’s are “underappreciated share gainers.” “Initiate on cruise with Buys on RCL , CCL & NCLH; we add NCLH to Top Picks. Loop initiates Intel as hold Loop said it’s concerned about rising competition. “We are initiating coverage on Intel Corp (INTC) with a HOLD rating and $25 price target.” KeyBanc upgrades Cleveland-Cliffs to overweight from sector weight KeyBanc said it sees “improved cost/efficiency performance” for the metals company following earnings. “Following the Company’s 2Q25 earnings report, we are upgrading shares of Cleveland-Cliffs to Overweight (from Sector Weight) with a $14 price target. UBS upgrades Albertson’s to buy from neutral UBS raised its price target to $27 per share from $22 and says the stock is “compelling.” “We upgrade ACI to Buy from Neutral & boost our PT to $27.” Read more. Goldman Sachs reinstates Liberty Formula One as buy Goldman said the company offers “investors a high quality way to gain exposure to the long-term secular growth trends in sports media.” “We reinstate Liberty Formula One (FWONK) at a Buy rating with a $120 PT, representing 17% total potential return.” Goldman Sachs reiterates Chevron as buy Goldman said the oil and gas giant is well positioned heading into earnings on August 1. “Our constructive outlook for CVX is predicated on several idiosyncratic factors, namely (a) a volume and free cash flow inflection driven by major growth projects in Kazakhstan, the Gulf of America, and the Permian basin…” Morgan Stanley reiterates Nvidia as overweight The firm said Nvidia is a top idea heading into earnings in August. “Expecting the pace of revenue and EPS upside to accelerate on the earnings report, driving compelling risk reward into the quarter.” Baird upgrades STMicroelectronics to outperform from neutral Baird said in its upgrade of STMicroelectronics that shares of the semis company have more room to run. “Raising our 2H25/2026 estimates and upgrading to Outperform on an ongoing cycle recovery, gross margin expansion, a SiC [silicon carbide] revenue bottom, and higher content in upcoming new products.” Loop downgrades Shopify to hold from buy Loop downgraded the stock on valuation. “We are downgrading Shopify to a Hold from a Buy rating while maintaining our $120 price target. Our downgrade is based on Shopify’s valuation, as opposed to a more bearish view of the company’s fundamentals.” Deutsche Bank reiterates Amazon as buy Deutsche raised its price target to $266 per share from $230. “While tariff concerns were front and center when Amazon guided the 2Q, a resilient consumer backdrop and tariff-related cost increases that continue to get kicked down the road should support upside to 2Q/3Q numbers. Furthermore, what has become abundantly clear is that in the absence of Temu and Shein, Amazon share gains have accelerated.” JPMorgan downgrades Lululemon to neutral from overweight JPMorgan said it’s concerned about slowing growth. “While lululemon remains underpenetrated Internationally relative to peers with a notable opportunity to scale brand awareness, our work points to a normalizing pace of growth in China Mainland & product assortment challenges in the US have driven elevated markdowns & a more moderate revenue growth profile for the business…” Read more. Citi reiterates Reddit as buy Citi said it’s sticking with the stock heading into earnings next week. “We reiterate our Buy rating and $163 TP as we believe Reddit remains in early days on its product and monetization journey as newer products launch with its data corpus a core strategic asset.” William Blair upgrades Booz Allen to outperform from market perform The firm said shares of the defense contractor are attractive at current levels. “We are upgrading shares of Booz Allen, the defense tech services specialist that has taken a few proverbial punches over the past six months.” Wedbush reiterates Tesla as outperform Wedbush said it’s bullish heading into Tesla earnings on Wednesday. “It starts with autonomous then robotics is the view of Tesla. …bulls as we believe the autonomous valuation is worth $1 trillion alone to the Tesla story over the next few years.” Citi upgrades UP Fintech to buy from neutral Citi said the Asia online brokerage is attractive. “Upgrade to Buy/1H, as TIGR has not been re-rated as aggressively compared to Futu, and we see TIGR valuation and remaining upside as still attractive.” Morgan Stanley reiterates Apple as overweight Morgan Stanley said its survey checks show Apple App Store revenue improving. “If the September quarter ended on July 20th, App Store net revenue would be growing 12.6% Y/Y, tracking 210bps above our +11.0% Y/Y forecast, and translating to 60bps of upside (or ~$160M) to our September-quarter Services growth forecast of 11.7% Y/Y.” Morgan Stanley reiterates Microsoft as overweight Morgan Stanley said Microsoft remains compelling ahead of earnings on July 30. “However, risk/reward remains attractive at ~29x GAAP FY27 EPS given strong potential to deliver a durable mid-to-high-teens total return profile, supported by leading GenAI positioning.”