Analyst call of the day for CNBCPro subscribers: HSBC downgrades Chevron to hold from buy mainly on valuation. Subscribe to see the analyst calls of the day curated by CNBC Pro.
Here are Monday's biggest calls on Wall Street: Jefferies downgrades Williams-Sonoma to underperform from hold Jefferies said it's concerned about a softer macro environment. "As a discretionary retailer serving upper-middle income consumers whose EBIT% is 2x vs. '19 thanks in part to over-earning, we see WSM shares underperforming ahead of a softer macro.
initiates Qualcomm as buy said Qualcomm is "well positioned for growth in a post smartphone world." "Qualcomm is best known for making chips used in smartphones, a market that is now slowing. However, the company is well positioned for growth in a post smartphone world thanks to its dominant position in supplying chips to autos, its technology strength in radio frequency front end chips, and its penetration of Internet of Things devices." Read more about this call here .
downgrades Chevron to hold from buy downgraded Chevron mainly on valuation. "The integrated oils have outperformed the market once again in the last few months, thanks to the broader market correction and more recently the recovery in oil prices to above USD90/b following the OPEC+ supply quota cut."
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