(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.) Two tech stocks were among the names being talked about by analysts on Monday. Citi named Micron Technology a top pick ahead of the company’s earnings report this week. Meanwhile, Goldman Sachs initiated coverage of IBM with a buy rating. Check out the latest calls and chatter below. All times ET. 5:48 a.m.: Micron is a top pick at Citi Citi called Micron Technology a top pick ahead of the chipmaker’s earnings report due Wednesday. Analyst Christopher Danely raised his price target to $175 from $150 representing 25% upside. Micron has already climbed nearly 64% this year. Going forward, Danely expects the stock to trade “above its historical average but below AI peers,” he wrote. “We believe Micron should continue to trade at a premium to its historical range given AI exposure.” As a catalyst, the analyst pointed to Micron’s fiscal third-quarter earnings results, due on June 26 after the market closes. Danely thinks the company could post both an earnings and revenue beat due to higher dynamic random-access memory pricing. Specifically, the analyst estimated earnings of 36 cents per share on revenue of $6.80 billion, which would come above the current consensus of 30 cents on revenue of $6.64 billion. Additionally, Danely predicted that the company could guide for its fiscal fourth-quarter revenue at $8 billion, above the current consensus estimate of $7.58 billion. — Lisa Kailai Han 5:48 a.m.: Goldman Sachs initiates IBM as a buy Dow Jones Industrial Average member IBM is primed for strong gains ahead, according to Goldman Sachs. Analyst James Schneider initiated the legacy tech giant with a buy rating. His $200 price target implies upside of 16% from Friday’s close. Shares were up 1% in the premarket. “IBM is a diversified provider of software, IT services, and enterprise hardware to global enterprise customers. We believe that IBM is in the middle innings of pivoting its portfolio to a suite of modernized application and infrastructure software and a broader array of services, away from a legacy-focused portfolio,” Schneider wrote. “We think the company is on track to sustain 5% – 7% long-term revenue growth and ~10% FCF growth, driven by growth in AI products and services, market share gains in consulting, and growth in its core software portfolio,” he added. Shares are up more than 5% for the year, outperforming the Dow. However, they lag the S & P 500’s 14.6% surge for 2024. IBM YTD mountain — Fred Imbert
