- JMP Securities upgraded Snap to outperform from perform.
- Credit Suisse initiated Sanderson Farms as outperform.
- Credit Suisse upgraded Regeneron to outperform from neutral and named it a top pick.
- J.P. Morgan reinstated coverage of ViacomCBS as overweight.
- SunTrust initiated Etsy as buy.
- Bank of America downgraded Hanesbrands to underperform from neutral.
- Argus upgraded Bristol-Myers Squibb to buy from hold.
Here are the biggest calls on Wall Street on Friday:
JMP Securities upgraded the stock and said it was optimistic about Snap's ability to grow its user base.
"We are incrementally confident in Snap's ability to grow its user base, increase engagement given newer products and services, and improve overall monetization as the service attracts more advertisers and share of ad budgets. Importantly, we believe that the organization is now more stable than it was when entering 2019, and as we look into 2020, we believe Snap is well positioned to continue to add DAUs and close the monetization gap with other major social networks as its sales force reorg is now behind it and the company launches new and innovative advertising products."
Credit Suisse said the poultry producer was "well-positioned regardless of industry cycles."
"We believe the chicken industry is in the early stages of a rebound in supply-demand dynamics that we expect will boost Sanderson's EBIT margin from a cyclical low to a prolonged cyclical high (>13% by 2021). Chicken companies have come to the end of a three-year period of expansion that USDA forecasts will decelerate the pace of supply growth to 1.8% in 2020. In contrast, domestic per capita demand continues to grow at a consistent pace and export growth is poised to accelerate in response to African swine fever's impact on pork supplies in China."