Here are the biggest analyst calls of the day: Qualcomm, Nvidia, Apple & more

Published Fri, Nov 15 20199:02 AM EST

Key Points

Mizuho is upgrading Qualcomm to buy from neutral.
J.P. Morgan is naming Lyft as a top pick.
Barclays is upgrading Grubhub to overweight from underweight.
Piper Jaffray is raising its price target on Apple to $290 from $270.
J.P. Morgan is adding Qualcomm to the focus list.
New Street Research is downgrading Nvidia to neutral from buy.

Here are the biggest calls on Wall Street on Friday: Mizuho upgraded Qualcomm to 'buy' from 'neutral' Mizuho said the semiconductor and telecommunications equipment company was positioned well on 5G going in to 2020 and beyond. "We have been positive on QCOM 's 5G outlook in 2020 while waiting for an attractive opportunity, given N-T headwinds with weak 4G handsets. With much of the 4G handset risk in the rear view mirror, we are upgrading QCOM to Buy ahead of the 5G ramp." J.P. Morgan named Lyft as a 'top pick' J.P. Morgan added Lyft as a top pick and said it liked significantly improved revenue and earnings as well as increased market share in the ride-hailing business. " LYFT reported significantly better than expected revenue and EBITDA, as it continues to take share of an increasingly rational US rideshare market, thereby accelerating its path to profitability. ... LYFT also reiterated its expectation for consolidated EBITDA profit by 4Q21, though we continue to believe core rideshare can be profitable well before that, likely sometime in 2020. PTON also emphasized EBITDA profitability in its core US bike business. We continue to believe that the Street is not giving these companies enough credit." Barclays upgraded Grubhub to 'overweight' from 'underweight' Barclays double upgraded the stock and said GrubHub's board should vastly improve operations and shareholder value, after a 75 percent decline in shares over 15 months. "We have been close followers of the online food delivery space for several years and have found the rapid transformation in the last two years extremely fascinating. Caught in the middle of this whirlwind, shares of GRUB declined by 75% in 15 months, due to what we believe is irrational competitive landscape, ill-timed strategic investments, and poor execution. A significant amount of value is destroyed already and we think it is time for you, the board, to prevent further erosion." Piper Jaffray raised its price target on Apple to $290 from $270 Piper raised its price target on Apple and said its iPhone survey indicated "solid" upgrade rates. "While 5G is on the horizon and this year's iPhone lineup did not include any dramatic improvements, our survey of domestic iPhone users suggests upgrade rates are up slightly y/y. We are modeling for flat y/y iPhone revenue in FY20, so a slight improvement in upgrade rates could signal potential for upside. Looking into the coming year, Apple is in the midst of a perfect storm, with current iPhone performing at-or-above plan, non-iPhone (especially wearables and services) trending better than expected through the end of FY19 and growing anticipation for 5G iPhones that will be coming late in the fiscal year." J.P. Morgan added Qualcomm to the 'focus list' J.P. Morgan said it is bullish on the upcoming 5G cycle and said Qualcomm was a "multi-year content growth opportunity." "We are adding QCOM shares to the Analyst Focus List as a Growth pick and rate it as our top pick within our (Networking Equipment/ IT Hardware) coverage universe heading into the 5G cycle, where we are now pivoting to favor a multi-year content growth opportunity over other stocks that more reliant on volume driven opportunities and more susceptible to further weakening in the macro." New Street Research downgraded Nvidia to 'neutral' from 'buy' New Street downgraded the stock after the company's earnings report and said it was waiting for a better entry point. "We remain confident Nvidia still has a good growth potential, but with the stock trading on 29x FY2021 earnings, we see as much upside as downside potential in the next twelve months and recommend waiting for a better entry points to play secular growth."

Steve Mollenkopf, CEO of Qualcomm.

Adam Jeffery | CNBC

Here are the biggest calls on Wall Street on Friday:

Mizuho upgraded Qualcomm to 'buy' from 'neutral'

Mizuho said the semiconductor and telecommunications equipment company was positioned well on 5G going in to 2020 and beyond.

"We have been positive on QCOM's 5G outlook in 2020 while waiting for an attractive opportunity, given N-T headwinds with weak 4G handsets. With much of the 4G handset risk in the rear view mirror, we are upgrading QCOM to Buy ahead of the 5G ramp."

J.P. Morgan named Lyft as a 'top pick'

J.P. Morgan added Lyft as a top pick and said it liked significantly improved revenue and earnings as well as increased market share in the ride-hailing business.

"LYFT reported significantly better than expected revenue and EBITDA, as it continues to take share of an increasingly rational US rideshare market, thereby accelerating its path to profitability. ... LYFT also reiterated its expectation for consolidated EBITDA profit by 4Q21, though we continue to believe core rideshare can be profitable well before that, likely sometime in 2020. PTON also emphasized EBITDA profitability in its core US bike business. We continue to believe that the Street is not giving these companies enough credit."