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Here are Thursday's biggest analyst calls of the day: Tesla, General Electric, Micron & more

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Key Points
  • UBS resumed coverage of Tesla with a sell rating.
  • Morgan Stanley upgraded General Electric to overweight from equal weight.
  • Loop Capital downgraded Wayfair to hold from buy.
  • Piper Sandler raised its price target on Microsoft to $190 from $158.
  • Barclays upgraded L Brands to overweight from underweight.
  • Bank of America downgraded Dollar Tree to neutral from buy.
  • Morgan Stanley upgraded Micron and Western Digital to overweight from equal weight.
  • Bank of America downgraded BJ's Wholesale to neutral from buy.
  • UBS raised its price target on Nvidia to $300 from $240.
Tesla CEO Elon Musk introduces the Cybertruck at an event on Nov. 21, 2019.
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Here are the biggest calls on Wall Street on Thursday:

UBS resumed coverage of Tesla as 'sell'

UBS said it is sees Tesla as the original equipment manufacturer with the biggest long-term autonomous vehicle opportunity.

"We take a more bullish fundamental view on Tesla's technology and cost lead in hardware & software. We expect Tesla to reach 10% OP margin and generate $3-5bn annual FCF from 2022 onwards, based on known products and capacities. Also, we view Tesla as the original equipment manufacturer with the biggest long-term autonomous vehicles opportunity. We believe this justifies a market cap well above most incumbent OEMs. However, Tesla shares now discount 1.6m vehicles sold in 2025 at 11% OP margin, after doubling in value since Q3 results."

Read more about this call here.

Morgan Stanley upgraded General Electric to 'overweight' from 'equal weight'

Morgan Stanley said it sees a "budding turnaround" in General Electric and that any disruption from Boeing's 737 Max will be temporary.

"We view Aviation as a best-in-class franchise and the 737 MAX disruption as temporary. At the same time, tail risks from Power, pension, and Long-Term Care are declining. 2021 brings significant cash flow and strong improvement in risk/reward."

Read more about this call here.

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