Here are the biggest analyst calls of the day: Roku, Wells Fargo, Biogen & more

Key Points
  • Morgan Stanley downgraded Roku to underweight from equal weight.
  • Raymond James downgraded Wells Fargo to underperform from market perform.
  • Morgan Stanley downgraded Dow to equal weight from overweight.
  • Baird downgraded Biogen to underperform from neutral.
  • Leerink initiated GlaxoSmithKline as outperform.
  • Bank of America downgraded Deere to underperform from neutral.
  • Stifel resumed coverage of Western Digital as hold.
  • Citi upgraded Altria to buy from neutral.
Roku CEO Anthony Wood
Source: CNBC

Here are the biggest calls on Wall Street on Monday:

Morgan Stanley downgraded Roku to 'underweight' from 'equal weight'

Morgan Stanley said in its downgraded that revenue and gross profit growth will slow meaningfully in 2020.

"Roku continues to execute a sound strategy to capitalize on the shift to streaming. However, we believe there are risks to growth expectations not reflected in current valuation levels. Specifically, we think revenue and gross profit growth slow meaningfully in '20 and the multiple compresses."

Read more about this call here.

Raymond James downgraded Wells Fargo to 'underperform' from 'market perform'

Raymond James downgraded the stock and said the company has a "stigma" surrounding the phony accounts scandal which occurred over 3 years ago.

"We are reducing our rating on shares of Wells Fargo to Underperform from Market Perform. Recall that we had an Underperform rating on the stock from October 4, 2016 through March 29, 2019. With another reduction to our EPS estimates, placing us 4.2% below consensus for 2020 and 6.7% below consensus for 2021, we believe negative EPS revisions will provide a headwind for Wells Fargo's shares. ... Stigma around Wells Fargo's reputation will likely continue in the near future and remain a headwind for the bank's operational performance."

Read more about this call here.