(This is CNBC Pro’s live coverage of Monday’s analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) Monday’s analyst calls included an upgrade to Apple and a move in the opposite direction for athleisure giant Lulu Lemon and electric car marker Tesla. Bernstein analyst Toni Sacconaghi said worries over Apple sales in China are overdone, and he held with an aggressive price call for the iPhone giant’s stock. For Lululemon, though, the landscape could get tougher due to consumer spending changes and more competitive business environment. Evercore cut its target for Tesla Check out the latest calls and chatter below. All times ET. 6:22 a.m. Bernstein upgrades Apple, says it’s time to ‘buy the fear’ Wall Street’s concern over Apple ‘s weakness in China may be overdone and signal it’s time for investors to “buy the fear,” according to Bernstein’s Toni Sacconaghi. The Bernstein managing director and senior vice president upgraded the iPhone maker to outperform on Monday, and stood by a $195 per share price target. Bernstein’s forecast implies more than 15% upside from Friday’s $169.30 close. “We believe prevailing weakness in China is more cyclical than structural, and note that historically Apple’s China business has exhibited much higher volatility than Apple overall, given its very feature-sensitive installed base,” Sacconaghi said. “We further believe that replacement cycle tailwinds and incremental generative AI features set up Apple well for a strong iPhone 16 cycle,” he added. Apple stock has pulled back 12.1% in 2024 but was up 1.7% in premarket trading Monday. — Brian Evans 6:20 a.m. Barclays downgrades Lululemon, says consumers are shifting spending away from athleisure Barclays is moving to the sidelines on Lululemon over a shifting consumer spending landscape and higher competition. The firm downgraded the athleisure stock to equal weight from overweight on Monday, and slashed its price target to $395 from $546. Barclays’ forecast still calls for 8.3% upside from Friday’s $364.70 close. Analyst Adrienne Yih noted that in addition to changing spending trends and higher competitions, headwinds tied to Lululemon stock also include limited earnings upside ahead and a pullback in fixed-cost leverage as U.S. sales slow. “We believe that LULU remains one of the best positioned brands with one of the most solid business models based on innovation, technical solutions, and quality,” Yih said. “However, given our sector thesis of seeking companies with accelerating sales growth in 2024, we believe that companies exhibiting accelerating sales growth versus decelerating sales growth have a greater probability of delivering sustained EPS upside,” the analyst added. Lululemon stock has slipped nearly 29% in 2024 and was off 1.9% premarket Monday. — Brian Evans