Here are Wednesday's biggest analyst calls of the day: Boeing, AT&T, Microsoft & more

Key Points
  • Deutsche Bank initiated AT&T as buy.
  • Citi downgraded Estee Lauder to neutral from buy.
  • Wedbush raised its price target on Tesla to $550 from $370.
  • Raymond James raised its price target on Microsoft to $192 from $163.
  • Vertical Research Partners downgraded Boeing to hold from buy.
Randall Stephenson, CEO of AT&T, speaking at the Business Roundtable CEO Innovation Summit in Washington, DC. on Dec. 6th, 2018.  
Janhvi Bhojwani | CNBC

Here are the biggest calls on Wall Street on Wednesday.

Deutsche Bank initiated AT&T as 'buy'

Deutsche initiated coverage on the stock and said it had a "unique scale" across the communications and media business.

"AT&T has unique scale across a wide range of media and communications businesses (fiber, spectrum, satellite TV, television programming, film/TV production, and streaming). The stock has underperformed the S&P 500 and Verizon over the past 3, 5, and 10 year periods, but has outperformed VZ over the past 12 months thanks to a renewed focus on driving cost efficiency, restoring financial discipline to AT&T's pay TV businesses, and cleaning up the balance sheet/ non-core asset portfolio, all of which have allowed the company to recently return to a more shareholder friendly capital allocation strategy featuring share repurchases in addition to AT&T's regular dividend."

Citi downgraded Estee Lauder to 'neutral' from 'buy'

Citi downgraded the stock on valuation.

"EL's share price is up 60% over the last 12 months. With this performance behind it, the stock is now trading at 34x our CY20 EPS forecast, or an 80% premium to the market, which puts it close to its all-time high relative valuation."

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