Here are Friday's biggest analyst calls of the day: Nvidia, Facebook, Tesla, Amazon & more

Published Fri, Jan 10 20209:14 AM EST

Key Points

Bank of America raised its price target on Nvidia to $300 from $275.
Piper Sandler raised its price target on Tesla to $553 from $423.
Bernstein initiated Facebook as outperform.
Bernstein initiated Amazon as market perform.
Bernstein initiated Alphabet as outperform.
Susquehanna downgraded Foot Locker to neutral from positive.
Stephens upgraded Square to overweight from equal weight.
Wells Fargo downgraded Six Flags to equal weight from overweight.
KBW downgraded Travelers Company to underperform from market perform.
Deutsche Bank upgraded L Brands to buy from hold.
Citi added a positive catalyst watch on Nvidia.

Here are the biggest calls on Wall Street on Friday: Bank of America raised its price target on Nvidia to $300 from $275 Bank of America raised its price target on the stock to a Street high and said it had reinforced confidence in the company after meeting with management. "In our 2020 playbook, we flag NVDA as our top large cap pick, with street-high $300 PO,due to its leading growth at a still reasonable valuation, and due to its exposure to our favorite end markets in semis (AI, cloud , gaming, autos, 5G. etc.). ... We came away from our meeting incrementally positive on the double-digit trajectory of the gaming business." Read more about this call here . Piper Sandler raised its price target on Tesla to $553 from $423 Piper raised its price target on the stock and said it sees potential for the company in China based on an analysis of the emerging market's vehicle registration data. "if Tesla' s Model 3 market share in the United States can be replicated in China - and if this logic extends also to Model Y - then Tesla's annual volume in China alone would eventually exceed 650k units. We're not sure Tesla can immediately replicate its U.S. success in China (due to the strength of German brands in China), but we are increasing our estimates nonetheless." Read more about this call here . Bernstein initiated Facebook as 'outperform' Bernstein said in its initiation of the stock that it expects the company to continue to capture new digital ad dollars on the backs of Instagram and Whatsapp among other things. " FB continues to expand their lead in both social networking and digital display advertising. We expect FB's portfolio of apps to continue to capture 70-80% of new social media users with Instagram nicely supplementing core Blue's slowing growth." Read more about this call here . Bernstein initiated Amazon as 'market perform' Bernstein said secular growth for Amazon appears the "most challenged" among the internet giants. " AMZN is the dominant player in both eCommerce and Cloud and continues to invest significant capital to build out their logistical footprint. Secular growth appears most challenged amongst the Internet giants given roughly 80% of AMZN's revenues are retail and we expect industry eCommerce growth (ex-China) to dip into the low-teens, below our outlook on other industry revenue pools like digital advertising and Cloud." Read more about this call here . Bernstein initiated Alphabet as 'outperform' Bernstein initiated Alphabet and said it forecasts continued growth in the company's search category. GOOGL holds a dominant leadership position in search, especially informational search, which we forecast to continue growing at 15% Y/Y primarily on the back of continued search query growth with stabilizing Cost-Per-Click. We believe that YouTube has the most revenue acceleration in the near-team accounting for 25% of net new revenues in the next two years, while Maps and Images have greater ad monetization headroom than the market accounts for, and positions GOOGL well to capitalize on the hyper-growth of specialized, functional searches in the mid-to-long term. Read more about this call here . Susquehanna downgraded Foot Locker to 'neutral' from 'positive' Susquehanna downgraded Foot Locker and said channel checks point to holiday sales that fell short of expectations. "Moving to the sidelines. Proprietary checks indicate that holiday launches from Nike, Adidas, and others were not enough to overcome last year's difficult comparisons. ... Despite compelling valuation, less effective engagement and communication is driving lackluster results. Further, JD Sports, which acquired Finish Line in June '18, is becoming a formidable competitor. Reducing estimates and price target." Stephens upgraded Square to 'overweight' from 'equal weight' Stephens upgraded Square and said it expects the company to beat revenue expectation in its upcoming earnings report. "4Q rev beat/EBITDA meet and in-line '20 guide. Think stock works b/c margin expectations already reset and mkt underestimating pricing." Wells Fargo downgraded Six Flags to 'equal weight' from 'overweight' Wells Fargo downgraded the theme park operator and said China revenue "appears" to be "crumbling." "Downgrading SIX to Equal Weight from Overweight as a key pillar supporting our thesis, ramping international China revenue/EBITDA, appears to be rapidly crumbling with the realization timeline now very uncertain." KBW downgraded Travelers Company to 'underperform' from 'market perform' KBW downgraded the insurance company mainly on valuation. "Our call is explicitly on the shares rather than the company; despite sustained important competitive advantages in several key lines of business, we expect core underwriting margin pressure in personal lines and workers compensation, and likely limited overall reserve development, to lead TRV 's shares to underperform our P & C peer group's median expected 12.0% 12-month return. Lowering estimates. Deutsche Bank upgraded L Brands to 'buy' from 'hold' Deutsche Bank upgraded the stock after company cut its earnings outlook for its fiscal fourth quarter . "We are upgrading LB to Buy from Hold as our 'so bad, it's good' thesis is taking shape, explored in depth in our 12/18 transferring coverage report. The first half of the narrative has crystallized during Holiday, with Victoria's Secret reporting sales well below expectations and 4Q EPS guidance lowered by 15c to $1.85." Citi added a 'positive catalyst watch' on Nvidia Citi added the chip maker to its catalyst watch list and said it expects Nvidia to outperform its peers. "We are adding NVDA to Citi's catalyst watch list and expect stock to outperform the group on a relative basis in next three months driven by a) improving data center demand; b) closure of MLNX acquisition, and c) next gen 7nm Ampere platform announcement at flagship GTC conference in March." Read more about this call here . Note: Bernstein's initiation of Facebook, Amazon, and Alphabet occurred after the bell on Thursday.

Jeff Bezos, founder and CEO of Amazon, pictured on Oct. 2, 2019.

Elif Ozturk | Anadolu Agency | Getty Images

Here are the biggest calls on Wall Street on Friday:

Bank of America raised its price target on Nvidia to $300 from $275

Bank of America raised its price target on the stock to a Street high and said it had reinforced confidence in the company after meeting with management.

"In our 2020 playbook, we flag NVDA as our top large cap pick, with street-high $300 PO,due to its leading growth at a still reasonable valuation, and due to its exposure to our favorite end markets in semis (AI, cloud , gaming, autos, 5G. etc.). ... We came away from our meeting incrementally positive on the double-digit trajectory of the gaming business."

Piper Sandler raised its price target on Tesla to $553 from $423

Piper raised its price target on the stock and said it sees potential for the company in China based on an analysis of the emerging market's vehicle registration data.

"if Tesla's Model 3 market share in the United States can be replicated in China - and if this logic extends also to Model Y - then Tesla's annual volume in China alone would eventually exceed 650k units. We're not sure Tesla can immediately replicate its U.S. success in China (due to the strength of German brands in China), but we are increasing our estimates nonetheless."