Here are Wednesday's biggest analyst calls of the day: Tesla, Goldman Sachs, Pinterest & more

Published Wed, Feb 5 20208:20 AM EST

Key Points

Canaccord downgraded Tesla to hold from buy.
Loop initiated Pinterest as buy.
Bank of America upgraded Ralph Lauren to neutral from sell.
Citi raised its price target on Goldman Sachs to $290 from $255.
Barclays raised its price target on Tesla to $300 from $200.
RBC upgraded Toll Brothers to outperform from sector perform.
Atlantic Equities upgraded Snap to neutral from underweight.

Here are the biggest calls on Wall Street on Wednesday: Canaccord downgraded Tesla to 'hold' from 'buy' Canaccord downgraded the stock after the recent runup in shares and said investors should wait for a better "entry point" "Following an electrifying run in 2020, we are downgrading shares of Tesla to HOLD as we see a balanced risk reward for investors to lock in profits. Just as we observed a clear buy signal coming into 2020, we see the risk of China's coronavirus as a clear headwind to the Shanghai facility, suggesting a more pragmatic position. Given the 3,000 per week China Model 3 production expectations in a country that remains on lockdown, we feel a reset of expectations in Q1 is likely and thus needs to be reflected in the valuation." Read more about this call here . Loop initiated Pinterest as 'buy' Loop initiated the social media web and mobile application company and said it saw "great" potential on the company's advertising and e-commerce platform. "We think PINS is among the most interesting of SMID Cap stocks in the US Internet sector with great potential as an advertising and eCommerce platform. Engagement is not a high-frequency, daily habit like social media peers but the network is showing healthy user growth with monthly active user's up 28% in 3Q. We think the nature of engagement on Pinterest is highly aligned with commerce, offering very strong monetization potential and think that making Pinterest shoppable is a major opportunity. Bank of America upgraded Ralph Lauren to 'neutral' from 'sell' Bank of America said in its upgrade of the company that it sees "steady" sales and continued margin "growth." "We think RL can continue to post sales and gross margin expansion driven by a mix-shift to its international business and average unit retail expansion. Ongoing challenges in NA wholesale and our uncertainty that RL can successfully take price in that channel keep us from getting more constructive." Citi raised its price target on Goldman Sachs to $290 from $255 Citi raised its price on the investment bank and said it sees the risk/reward in shares as "attractive." "We believe that GS has the largest multiple expansion potential in the group given that it is one of the few with room for return on tangible equity improvement plus it trades at the highest cost of equity in the group (based on our 15% normalized ROTE assumption). In a group that we view as fairly valued, GS stands out to us as a very attractive investment opportunity." Barclays raised its price target on Tesla to $300 from $200 Barclays raised its price target on Tesla and said it believes the stock is "overvalued." "With this in mind, we continue to believe TSLA is fundamentally overvalued – but nevertheless concede that the recent price action opens up the possibility of raising capital cheaply, and hence reduces that chance of a stalled business. We raise our PT to $300 (from $200) and remain Underweight." RBC upgraded Toll Brothers to 'outperform from 'sector perform' RBC upgraded the homebuilder and said it sees a more "favorable" risk/reward. "We upgrade TOL to OP from Sector Perform and increase our PT to $50 from $39, as TOL's increased commitment to driving return on equity should result in upside to EPS ests. and multiple expansion over the next 2 years.Favorable pricing trends from RBC Elements Data and upside potential to Street order ests. support our view. We still see near-term risks on FY'20 revs and margins, but believe these are reflected in buy-side expectations and are now offset by the larger buybacks." Atlantic Equities upgraded Snap to 'neutral' from 'underweight' Atlantic Equities upgraded Snap after the company's earnings report and said the business is now on a "better trajectory." "Q4 revenue fell short, but user growth remained strong and margins continue to improve meaningfully, resulting in adj EBITDA upside. Overall, these results provide further evidence that the business is now on a better trajectory, with potential for ongoing robust revenue growth and margin expansion as the base of active advertisers continues to grow."

Tesla Inc CEO Elon Musk takes off his coat onstage during a delivery event for Tesla China-made Model 3 cars in Shanghai, China January 7, 2020.

Aly Song | Reuters

Here are the biggest calls on Wall Street on Wednesday:

Canaccord downgraded Tesla to 'hold' from 'buy'

Canaccord downgraded the stock after the recent runup in shares and said investors should wait for a better "entry point"

"Following an electrifying run in 2020, we are downgrading shares of Tesla to HOLD as we see a balanced risk reward for investors to lock in profits. Just as we observed a clear buy signal coming into 2020, we see the risk of China's coronavirus as a clear headwind to the Shanghai facility, suggesting a more pragmatic position. Given the 3,000 per week China Model 3 production expectations in a country that remains on lockdown, we feel a reset of expectations in Q1 is likely and thus needs to be reflected in the valuation."

Loop initiated Pinterest as 'buy'

Loop initiated the social media web and mobile application company and said it saw "great" potential on the company's advertising and e-commerce platform.

"We think PINS is among the most interesting of SMID Cap stocks in the US Internet sector with great potential as an advertising and eCommerce platform. Engagement is not a high-frequency, daily habit like social media peers but the network is showing healthy user growth with monthly active user's up 28% in 3Q. We think the nature of engagement on Pinterest is highly aligned with commerce, offering very strong monetization potential and think that making Pinterest shoppable is a major opportunity.