Here are Monday's biggest analyst calls of the day: General Motors, Chevron, Teladoc & more

Published Mon, Aug 17 20207:55 AM EDT

Key Points

Deutsche Bank upgraded Brinker to buy from hold.
Telsey upgraded Burlington and Ross to outperform from market perform.
Credit Suisse upgraded Teladoc to outperform from neutral.
Piper Sandler downgraded Chevron to neutral from overweight.
Deutsche Bank added a catalyst call buy on General Motors.

(This story is for CNBC PRO subscribers only.) Here are the biggest calls on Wall Street on Monday: Deutsche Bank upgraded Brinker to buy from hold Deutsche said in its upgrade of the restaurant hospitality company and owner of Chili's that it sees a "multiple re-rate" of the stock as long as management continues to execute. "We are upgrading shares of EAT to Buy, as we believe that there is still ~25% upside over the next 12 months in a relatively conservative base case, and more than that in a bull case that seems far from incredible. It appears evident to us that a complete narrative shift is now underway with EAT, and so long as management can continue to execute and make smart decisions with the balance sheet, we see the potential for a multiple re-rate to follow." Telsey upgraded Burlington and Ross to outperform from market perform Telsey said in its upgrade of Burlington and Ross that it sees their acceleration continuing into next year and beyond due to the coronavirus pandemic. "First, the leading off-price retailers' stores and concepts have proven to be destinations loved by consumers as evidenced by traffic increases driving market share gains over many years. Although COVID-19 forced the temporary closure of stores for most of the first quarter, leading to more than a 50% decline in sales, we believe that reopenings will have allowed business trends to jump start and eventually get back on track, if not accelerate post 2Q20 and beyond." Credit Suisse upgraded Teladoc to outperform from neutral Credit Suisse upgraded the digital health company and said the company's merger with Livongo health made "strategic sense" among other things and that the company's are creating a "digital health giant." "We have been and continue to remain bullish on LVGO's business model, offerings, and growth prospects; the combination makes strategic sense as it allows TDOC to not only generate incremental revenue from cross-selling the chronic care and disease management programs to its 70 mln membership base but also increase the stickiness of its employer/payer clients." Piper Sandler downgraded Chevron to neutral from overweight Piper downgraded the stock mainly on valuation. "And despite what we continue to view as a better-positioned multi-year outlook vs. its closest US peer, we downgrade CVX to Neutral on valuation and a lack of favorable near-term catalysts." Deutsche Bank added a catalyst call buy on General Motors Deutsche Bank added a catalyst call buy idea on the auto maker and said an electric vehicle spinoff makes the stock an "attractive setup." "We are adding GM to our short-term Catalyst Call Buy List, as recent media coverage about a potential GM EV spinoff and CEO Mary Barra's response to our question on the 2Q earnings call suggest GM is actively evaluating the option. From our numerous conversations with investors, we get the sense they view the probability of GM spinning off EV as negligible, which in our view offers an attractive setup for the stock, with asymmetric payoff.