(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.) A chipmaker and an e-commerce giant were among the stocks being talked about by analysts on Tuesday. Citi lowered its price target on Micron Technology ahead of earnings. Meanwhile, Redburn Atlantic upgraded Shopify to buy. Check out the latest calls and chatter below. All times ET. 6:24 a.m.: Mizuho initiates Dell with outperform rating Mizuho Securities thinks the rise of generative artificial intelligence can benefit Dell . The firm initiated coverage of the personal computing and technology stock with an outperform rating and a $135 per share price target. Mizuho’s forecast implies more than 16% upside from Monday’s close. Analyst Vijay Rakesh noted Dell’s nearly $4 billion AI server backlog as of the July quarter as a means to be optimistic on the stock moving forward as demand remains robust. “We estimate C24E DELL AI Server revenues at ~$10-11B (vs 2023E at ~ $800M and compared to SMCI at ~$20B) and ramping up significantly into 2024E,” the analyst said. “DELL is the overall global server market leader (2023 share: ~13%) with a robust supply chain, and is also gaining AI server share.” Dell stock has surged more than 50% in 2024. — Brian Evans 5:52 a.m.: Redburn Atlantic upgrades Shopify Redburn Atlantic thinks explosive growth in social e-commerce, where online shopping and social media platforms merge and allow companies to capitalize on impulse buying, can help expand Shopify’s already strong position in the industry. The firm upgraded the e-commerce stock to buy from neutral. Its $99 price target implies more than 34% upside from Monday’s close. “Shopify’s industry-leading innovation, social media integrations, user-friendly platform and unique Shop Pay button functionality make it best positioned to capitalise on this structural growth,” analyst Dominic Ball wrote. “Moreover, Shopify’s ability to continue to win market share is backed by its extensive ecosystem and platform capabilities, which has cemented it as the ecommerce provider of choice for any merchant size.” The analyst forecasts that social e-commerce can grow to $354 billion by 2028, which equates to a 42% compounded annual growth rate (CAGR) from $62 billion in 2023. Ball said this outlook is based on the U.S. social e-commerce market following in the trajectory of the segment’s growth seen in China. “Shopify holds a significant advantage in the social ecommerce space, with its breadth of direct social media integrations that are crucial for social ecommerce,” Ball added. “A standout example is YouTube, where Shopify remains the sole ecommerce platform with direct integrations.” Shopify has ticked down roughly 6% in 2024. SHOP YTD mountain SHOP year to date — Brian Evans 5:52 a.m.: Citi trims Micron price target An upcoming earnings report could limit the upside on Micron Technology shares, according to Citi. Analyst Christopher Danely lowered his price target on the chipmaker to $150 from $175. To be sure, he maintained his buy rating, and the new forecast still implies upside of 72% from Monday’s close. Micron is set to release fiscal fourth-quarter results on Sept. 25. “We expect the company to post results and guidance below Consensus driven by legacy DRAM weakness,” Danely said in a note. “While it appears there has been an inventory build in DRAM in the PC and handset end markets, we believe this should finish by the end of the year.” “More importantly, we expect Micron’s revenue and gross margins to increase for the next several quarters,” he added. Micron shares are up just 2% this year. MU YTD mountain MU year to date — Fred Imbert