CNBC Pro

Here are Monday's biggest analyst calls of the day: Facebook, Morgan Stanley, Costco & more

Share
Key Points
  • Oppenheimer upgraded Costco to outperform from market perform.
  • Morgan Stanley raised its price target on Facebook to $270 from $250.
  • Atlantic Equities downgraded Bank of America to neutral from overweight.
  • Citi downgraded Morgan Stanley to neutral from buy.
  • Jefferies upgraded Intel to hold from underperform.
  • Macquarie initiated Visa and Mastercard as buy.
  • KeyBanc upgraded L Brands to overweight from sector weight.
  • Raymond James upgraded J.B. Hunt to outperform from market perform.
  • KeyBanc downgraded Dollar Tree and Big Lots to sector weight from overweight.
  • New Street Research raised its price target on Tesla to $800 from $530.
James Gorman, chief executive officer of Morgan Stanley
Qilai Shen | Bloomberg | Getty Images

Here are the biggest calls on Wall Street on Monday:

Oppenheimer upgraded Costco to 'outperform' from 'market perform'

Oppenheimer said in its upgrade of the stock that it saw an attractive valuation and upbeat top line trends among other things.

Since late August COST shares have lagged up 3% vs. a gain of 14% in the S&P 500. With a now more accommodative valuation on a relative basis, the potential for well above peer top-line trends set to continue, and prospects for a special dividend, we again see the case for outperformance. As we look to the balance of 2020, we overall see a muted upside outlook for our food retailing universe, but believe COST and DG can deliver outsized gains vs. peers in this backdrop.

Morgan Stanley raised its price target on Facebook to $270 from $250

Morgan Stanley raised its price target on the stock and said it sees remains bullish on the company in to its earnings report and sees "upside" to advertising revenue..

"We remain bullish FB as 1) The runway for online ad growth is long/expanding 2) Instagram Stories/Core FB can drive 23%+ '20 ad rev growth and we see ~$5bn of emerging ad products for '21 and beyond and 3) We see positive revisions ahead with FB trading at 11X EBITDA for ~20% growth."

More In Pro News and Analysis

CNBC ProCathie Wood's ARK Innovation turns positive for the year as growth stocks surge
CNBC ProThese stocks are historically cheap and favored by Wall Street analysts into the second half
CNBC ProSantoli’s Thursday market notes: S&P 500 trots to new highs, and the game is back on in Tesla