Here are Tuesday's biggest analyst calls of the day: Advanced Micro Devices, FedEx & more

Key Points
  • Argus downgraded FedEx to buy from hold.
  • RBC raised its price target on Advanced Micro Devices to $53 from $50.
  • Raymond James initiated Amgen as market perform.
A FedEx plane is parked at Ontario International Airport on February 4, 2019.

Here are the biggest calls on Wall Street on Tuesday:

Argus downgraded FedEx to 'buy' from 'hold'

Argus downgraded the stock and said it has "little confidence" in the company's "near-term earnings power."

"The shares have fallen sharply in 2018-2019 though, on concerns over trade and tariffs as well as weakening economic conditions overseas. Revenue in the core FedEx Express segment is declining and margins are narrowing. Management has lowered guidance several times, and though it has a plan to reduce costs, we have little confidence in the company's near-term earnings power. Value investors may be attracted to the stock's low multiples and continue to hold the shares. We will look to move FDX back to our BUY list once we see signs of top- and bottom-line improvement."

Read more about this call here.

RBC raised its price target on Advanced Micro Devices to $53 from $50

RBC raised its price target on the stock to a Street high and said its channel checks show strength in gaming chip sales.

"We are raising our full year estimates for AMD due to solid channel checks related to gaming chips and the Data Center. As we look at numbers for 2020E we think it is likely that we begin to see the first set of estimate revisions starting in the Q1 time frame. As Data Center demand ramps up and gaming sales come in better than feared, as we expect, this should lead to higher gross margins relative to current Street expectations."

Read more about this call here.