By Michael Bloom
Publication Date: 2026-08-24 12:40:00
Here are the biggest calls on Wall Street on Monday: UBS upgrades Celestica to buy from neutral UBS says it sees “AI-driven demand.” “We upgrade Celestica to Buy from Neutral and raise our price target to $430.” Citi initiates Reformation as buy Citi says the clothing company is “unique.” “We are initiating coverage of Reformation with a Buy rating and a $20 target price. We view REF as a unique brand/retailer with an attractive store growth opportunity.” Morgan Stanley initiates Jersey Mike’s as overweight Morgan Stanley says the company is firing on all cylinders. ” JMKE is a robust franchised business and long-standing share taker in a large but mature segment.” Morgan Stanley initiates ArcelorMittal as overweight Morgan Stanley says the steel company has plenty of upside. “We are initiating on MT’s ADR at Overweight with a US$82 Price Target…” Baird upgrades Darden to outperform from neutral and downgrades Chipotle to neutral from outperform The firm upgraded Darden and says it’s a core holding. Baird also downgraded Chipotle and says it’s concerned the company will have to “spend more to grow less.” “Put simply, CMG may need to spend more to grow less. … Finally, we upgrade DRI to Outperform (target price to $250 from $220), viewing the company as a core casual dining holding with reliable top-line drivers, strong execution, and a durable growth algorithm.” Baird initiates Brinker as outperform Baird says the owner of Chili’s is too attractive to ignore. “…