(This is CNBC Pro’s live coverage of Tuesday’s analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) An electric vehicle maker and a chip stock were among the biggest calls by analysts Tuesday. Rivian Automotive was upgraded to neutral by UBS. Meanwhile, HSBC upgraded AMD to buy, calling for more than 35% upside in the stock. Check out the latest calls and chatter below. All times ET. 5:39 a.m.: UBS upgrades Rivian Automotive to neutral Rivian’s outlook is starting to improve, but don’t expect shares to pop anytime soon, according to UBS. The bank upgraded the stock to neutral from sell. However, it kept its $9 price target, which implies upside of just 7.7% over the next 12 months. “We believe the near-term risk/reward is more balanced at current levels. … The stock price now better considers some of our midterm concerns,” worte analyst Joseph Spak. “That said, we’d expect the stock to remain volatile.” “Nearterm upside catalysts could be if there is a positive update on R2 orders which would reinforce what Rivian can become, even if that growth is more likely in 2026/27,” the analyst wrote. “Nearterm downside catalysts could be R1 price cuts and/or softer R1 demand (even though we believe this is better considered at current levels, we see headline risk) as well as higher interest rate concerns.” Rivian shares have tumbled 64% in 2024. RIVN YTD mountain Rivian year to date — Fred Imbert 5:39 a.m.: HSBC upgrades AMD to buy The recent pullback in AMD shares has created a more attractive risk-reward backdrop, according to HSBC. The bank upgraded shares to buy from hold. Analyst Frank Lee also raised his price target to $225 from $180, implying shares rallying nearly 38% from Monday’s close. AMD’s share price has declined around 15% in the past month as the market reset its expectations for its MI300 AI accelerator’s 2024 and 2025 revenue. The stock is now up slightly above 8% in 2024. However, Lee believes AMD could top its management’s graphics processing unit revenue guidance this year. The company ‘s next generation AI chip solutions scheduled for release later this year could carve out greater market share against Nvidia, he added. “We believe there could be upside to earnings driven by the potential benefit to AI GPU sales because of Nvidia’s product transition in 2024e, as well as the continuous strength of the overall AI GPU market which we expect to provide opportunity to AMD to gain up to 10% market share with the launch of its MI300 successor next year that could compete with Nvidia’s GB200,” Lee wrote in a Tuesday note. — Hakyung Kim