Here are the biggest calls on Wall Street on Monday:

Morgan Stanley reiterates Nvidia as overweight

Morgan Stanley is sticking with the stock heading into earnings later this week.

"Nvidia remains our Top Pick, and regardless of expectations issues, the fact that headwinds simply do not affect the company ’ s strong momentum drives our thoughts."

Wells Fargo reiterates Amazon as overweight

Wells said it ’ s bullish on Amazon ’ s long-term opportunity with its global broadband access initiative known as Project Kuiper but that it ’ s lowering its price target to $225 per share from $232.

"Heavy upfront costs related to satellite launches, commencing in 2H24, reduce [ operating income ] forecasts ’ 25- ’ 27. Attractive oppty longer term, but unclear synergy w/ core operations."

Wells Fargo reiterates Microsoft as overweight

Wells said it sees significant upside ahead for the stock.

"We still see a bright future ahead for Microsoft, driven by continued growth prospects in huge categories of IT spend, ability to further monetize strong positioning in multiple end markets, and a financial profile that continues to exhibit durable margin expansion."

Morgan Stanley reiterates Taiwan Semiconductor as overweight

Morgan Stanley named the stock a catalyst-driven idea, calling it a beneficiary of robust Nvidia earnings.

"We would expect TSMC ’ s share price to rise if NVDA ’ s guidance were to beat expectations."

Argus downgrades Wayfair to hold from buy

Argus said in its downgrade of the furnishing retailer that the "company ’ s prospects appear muted amid the current environment of high interest rates and fewer home sales."

"We are downgrading Wayfair to HOLD from BUY. We continue to believe W is set for strong growth when the housing market recovers; however, the company ’ s prospects appear muted amid the current environment of high interest rates and fewer home sales."

Morgan Stanley upgrades Petrobras to overweight from equal weight

Morgan Stanley said the Brazilian oil producer is seeing resilient cash flow.

"PBR ’ s investment case remains centered on shareholder remuneration, which — for better or worse — is directly tied to capital allocation."

Baird names Planet Fitness a top pick

Baird named the stock a "bullish fresh pick" through year-end.

"We are highlighting PLNT as an attractive idea for a slowing growth environment. New leadership has addressed unit economic challenges, and we see multiple potential drivers – especially better marketing – lining up for 2025."