Here are Thursday's biggest analyst calls of the day: Tesla, Ford, Wells Fargo, Advanced Micro Devices & more

Published Thu, Jan 2 20209:22 AM ESTUpdated Thu, Jan 2 202010:31 AM EST

Key Points

Canaccord raised its price target on Tesla to $515 from $375.
Nomura Instinet raised its price target on Advanced Micro Devices to $58 from $40.
Evercore ISI upgraded United Airlines to outperform from in line.
Guggenheim downgraded Abbott Labs to neutral from buy.
Evercore ISI downgraded Ford to underperform from in line.
Baird downgraded Wells Fargo to underperform from neutral.
Wells Fargo upgraded BlackRock to overweight from equal weight.
Baird named Peloton as a fresh pick.
Wells Fargo upgraded Capri Holdings and G-III Apparel Group to overweight from equal weight

Here are the biggest calls on Wall Street on Thursday: Canaccord raised its price target on Tesla to $515 from $375 Canaccord raised its price target on the stock to a street high and said the electric vehicle revolution will gather more speed in 2020. "We believe the trend towards electrification will only accelerate in 2020. We expect to get a glimpse of this next week when Tesla reports its delivery numbers for Q4, which we anticipate will be above company guidance of 360,000 units for 2019, in comparison to our 368,965 expectation." Read more about this call here . Nomura Instinet raised its price target on Advanced Micro Devices to $58 from $40 Nomura said it sees the semiconductor company getting stronger in 2020 with a steady stream of new products in the pipeline. "We expect AMD to continue strengthening its competitive position in 2020 through a steady stream of new product introductions on 7nm and 7nm+ technologies, continuing market share gains, ASP increases, revenue growth, and increasing operating leverage. In light of these expectations, we are raising our financial estimates, increasing our target share price to $58 from $40, and reiterating our Buy rating on AMD." Read more about this call here . Evercore ISI upgraded United Airlines to 'outperform' from 'in line' Evercore upgraded the stock and said it liked the company's improved global growth prospects for 2020. "Upgrading United to Outperform from In-line given attractive relative valuation to legacy peers longer-term co-brand economics improvement potential and improved global growth prospects in 2020. The 'greater margin headroom' debate on UAL has ebbed and flowed over the course of this cycle. Under new leadership United now has some proof points on its side. We believe the setup for UAL is most attractive when investors are getting the optionality of higher long-term earnings growth potential for free (current significant relative discount)." Guggenheim downgraded Abbott Labs to 'neutral' from 'buy' Guggenheim downgraded the medical devices and health care company and said it expects top- and bottom-line growth rates to moderate. "We see less opportunity for Abbot t to drive leverage down the income statement going forward as well. From 2017-2019, the company has grown earnings at a 14% CAGR, driven by 1) strong top line momentum, 2) EBITA margin expansion on the back of St. Jude deal synergies, 3) falling interest expense as management delevered post St. Jude and Alere, and 4) a 400bp reduction in its tax rate." Evercore ISI downgraded Ford to 'underperform' from 'in line' Evercore said in its downgrade of the stock that it saw limited upside potential. " Ford 's significant valuation premium vs GM and downside risk to street earnings estimates leaves limited room for upside in both valuation and earnings estimates. Longer term, risks remain in both EU and China, where Ford's market position remains significantly weaker than it does in the US truck market. Ford could see 2020 downside towards $7 if NA EBIT was weak enough to require EPS cut closer to $1 and a potential trimming of the dividend begins to be priced in by the market." Baird downgraded Wells Fargo to 'underperform' from 'neutral' Baird said in its downgrade of Wells Fargo that the company's turnaround may take longer than many investors realize. "We like new CEO Charlie Scharf and believe that he will lead the company past the consent order and once again help the franchise perform up to its potential. Improving operating efficiency is the biggest opportunity, in our view, with the company's core efficiency ratio the worst among the largecap banks at ~66% in 2019E. New leadership may initially lower expectations though and may provide an extended timetable for mean reversion vs. peers given macro headwinds." Wells Fargo upgraded BlackRock to 'overweight' from 'equal weight' Wells Fargo upgraded the global management investment company and said it "stands apart" due to the company's "low volatility of organic growth." "Generates flows in various market environments. Compared to the other traditional asset managers in our coverage universe, BLK stands apart in our view in terms of both the fast pace and relatively low volatility of organic growth. For the whole extent of our quarterly data series, BLK has averaged long-term organic growth of 4.2% and suffered organic shrinkage in only ten of 75 quarters." Baird named Peloton as a 'fresh pick' Baird named the exercise equipment company to its fresh pick list and said it saw a favorable trading opportunity in 2020. "A forgettable December for PTON (stock -19% vs. S & P +2.5%; still outperformed > 1,200 bp since start of November) likely reflected lockup expiration concerns and technicals – with no material fundamental changes – setting the stage for a favorable trading opportunity entering 2020. We see healthy upside in FQ2E and FQ3E as supporting a F2020E bull case approaching ~1M CFP subscribers with improving profitability. In such a scenario, PTON should work back toward prior highs." Wells Fargo upgraded Capri Holdings & G-III Apparel Group to 'overweight' from 'equal weight' Wells Fargo upgraded Capri Holdings and G-III and said it sees compelling stories in both. "Given our expectation that 2020 sees some "reversion to the mean", we are opportunistically upgrading 3 lower-sentiment names to Overweight, as we see compelling stores here: 1) CPRI (MK brand improving, Versace opportunities, portfolio optionality). 2) GIII (tariff headwind alleviating, likely to liquidate money-losing retail biz)." Disclosure: CNBC parent Comcast-NBCUniversal is an investor in Peloton.

SpaceX CEO Elon Musk gives an update on the next-generation Starship spacecraft at the company's Texas launch facility on September 28, 2019 in Boca Chica near Brownsville, Texas.

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Here are the biggest calls on Wall Street on Thursday:

Canaccord raised its price target on Tesla to $515 from $375

Canaccord raised its price target on the stock to a street high and said the electric vehicle revolution will gather more speed in 2020.

"We believe the trend towards electrification will only accelerate in 2020. We expect to get a glimpse of this next week when Tesla reports its delivery numbers for Q4, which we anticipate will be above company guidance of 360,000 units for 2019, in comparison to our 368,965 expectation."

Nomura Instinet raised its price target on Advanced Micro Devices to $58 from $40

Nomura said it sees the semiconductor company getting stronger in 2020 with a steady stream of new products in the pipeline.

"We expect AMD to continue strengthening its competitive position in 2020 through a steady stream of new product introductions on 7nm and 7nm+ technologies, continuing market share gains, ASP increases, revenue growth, and increasing operating leverage. In light of these expectations, we are raising our financial estimates, increasing our target share price to $58 from $40, and reiterating our Buy rating on AMD."