Here are Tuesday's biggest analyst calls of the day: Facebook, Nvidia, Boston Beer & more

Published Tue, Feb 11 20208:58 AM EST

Key Points

Pivotal downgraded Facebook to sell from hold.
Oppenheimer raised its price target on Nvidia to $300 from $250.
JPMorgan downgraded World Wrestling to neutral from overweight.
Credit Suisse upgraded Boston Beer to outperform from neutral.
RBC raised its price target on Advanced Micro Devices to $63 from $53.
Cowen upgraded Jack in the Box to outperform from market perform.
Credit Suisse upgraded L Brands to neutral from underperform.
DA Davidson upgraded CrowdStrike to buy from neutral.

(This story is for CNBC PRO subscribers only.) Here are the biggest calls on Wall Street on Tuesday: Pivotal downgraded Facebook to 'sell' from 'hold' Pivotal downgraded Facebook and said it had concerns over the deterioration of the social media company's ad spending among other things. "We are not making a short-term call about 1Q20 - it is not clear to us that the company is going to miss 1Q20 revenue estimates. We do think that 2H US ad numbers look a bit too high and that lacking something transformative, they certainly are for 2021. Campaign Bid Optimization should act as an ongoing tailwind for the business, but it was also in play during 4Q19, so it's not incremental. The prospective expansion of IG shopping could be additive, and would think it'd help 4Q, but we don't think transformative." Oppenheimer raised its price target on Nvidia to $300 from $250 Oppenheimer raised its price target on the stock ahead of the company's earnings report on Thursday and said coronavirus is a "near-term wildcard." " NVDA enjoyed a 2H rebound in core Data Center/gaming following a tough C1H19. After 1H pause, hyperscaler spending began to recover in 2H. ... We see Data Center +30% in CY20. In gaming, we see easy 1H comps and 2H demand from likely launch of 7nm GPU. Coronavirus is a near-term wildcard for the group, though any transitory impacts are unlikely to impact NVDA's structural growth/margin story." JPMorgan downgraded World Wrestling to 'neutral' from 'overweight' JPMorgan downgraded World Wrestling and said it saw a "lack of clarity" due to management changes and uncertainty surrounding the company's recent network deals among other things. "In some ways it feels like we're right back where we've been with this stock for the last 18 months, in trying to estimate core content revenue and incremental margins. While we think the risk/reward skew is still positive, recent experience has left us unsure about how much upside there really is; given this lack of clarity, we think a Neutral rating makes sense for the time being." Credit Suisse upgraded Boston Beer to 'outperform' from 'neutral' Credit Suisse said in its upgrade of the stock that it sees continued growth in the company's hard seltzer segment. "Hard seltzer is the undisputed star of beer. Significant media coverage, alignment with health & wellness megatrends, and a place in the cultural zeitgeist helped the category double in size annually for 3 years. We believe it can continue to grow at this rate in the coming years. Boston Beer Co is the second largest player with 26% market share via its brand Truly Hard Seltzer, and the cleanest way for investors to gain exposure to category growth." RBC raised its price target on Advanced Micro Devices to $63 from $53 RBC raised its price target on the multinational semiconductor company and said it saw several notable catalysts ahead of AMD's analyst day in March. "We remain bullish on AMD due to notable catalysts in 2020, which include the upcoming analyst day on March 5th. We think this will be an important event and expect three major financial targets to come out: 1) gross margin target of high 40s, 2) path to 30% market share in CPU servers and 3) an implied 2021E EPS that is well north of$2.00 per share." Cowen upgraded Jack in the Box to 'outperform' from 'market perform' Cowen said in its upgrade of the fast food chain that it had greater confidence the company can meet its 2020 same- store sales guidance. "Our checks suggest Jack in the Box is finding success with Tiny Tacos launched on Jan 16, and gives us greater confidence Jack can achieve 2020 same store sales guidance of 1.5-3%, as we raise our estimate from 1.5% to 2.1%, vs. 2% Consensus Metrix (CM). Jack has lowered initial same store sales guidance each year since 2015, and the ability to grow same store sales in-line with consensus could go a long way in the context of shares that are up 6% and down 16% over the last 1 and 3 years, relative to a 26% and 52% gain for the S & P 500." Credit Suisse upgraded L Brands to 'neutral' from 'underperform' Credit Suisse said in its upgrade of the company that it sees less valuation downside on a sale of the Victoria's secret brand and recent outperformance from Bath & Body Works. "Since our cautious October industry note LB 's stock is up despite Victoria's sales trending far worse than our expectations. BBW has significantly outperformed. But VS' new product misses have been significant, and media is reporting LB could be near a deal to sell VS to Sycamore. We don't ultimately know what a deal would look like (and we think the effort/capital required to turn VS will be significant). But the combination of a potential VS sale plus BBW's recent significant outperformance likely means less valuation downside for the combined company in the near-term. We're moving to the sidelines and shifting to Neutral from Underperform." DA Davidson upgraded CrowdStrike to 'buy' from 'neutral' DA Davidson said in its upgrade of the cybersecurity technology company that its various products are seeing increasing traction. "Our upgrade is based on three key points. First, we believe CrowdStrike is significantly benefiting from Broadcom's acquisition of Symantec, as many resellers have noted an improvement in growth rates. Second, we are seeing little to no impact from VMware's acquisition of Carbon Black. Third, we are seeing increasing traction with CrowdStrike's other products, including their vulnerability management module. We believe these factors will enable CrowdStrike to continue driving ARR growth well above Street estimates over the next 12 months."

Jim Koch, co-founder and chairman of the Boston Beer Company

Source: The Boston Beer Company

(This story is for subscribers only.)

Here are the biggest calls on Wall Street on Tuesday:

Pivotal downgraded Facebook to 'sell' from 'hold'

Pivotal downgraded Facebook and said it had concerns over the deterioration of the social media company's ad spending among other things.

"We are not making a short-term call about 1Q20 - it is not clear to us that the company is going to miss 1Q20 revenue estimates. We do think that 2H US ad numbers look a bit too high and that lacking something transformative, they certainly are for 2021. Campaign Bid Optimization should act as an ongoing tailwind for the business, but it was also in play during 4Q19, so it's not incremental. The prospective expansion of IG shopping could be additive, and would think it'd help 4Q, but we don't think transformative."

Oppenheimer raised its price target on Nvidia to $300 from $250

Oppenheimer raised its price target on the stock ahead of the company's earnings report on Thursday and said coronavirus is a "near-term wildcard."

"NVDA enjoyed a 2H rebound in core Data Center/gaming following a tough C1H19. After 1H pause, hyperscaler spending began to recover in 2H. ... We see Data Center +30% in CY20. In gaming, we see easy 1H comps and 2H demand from likely launch of 7nm GPU. Coronavirus is a near-term wildcard for the group, though any transitory impacts are unlikely to impact NVDA's structural growth/margin story."