Here are Tuesday's biggest analyst calls of the day: Tesla, UPS, Uber, Disney & more

Published Tue, Mar 3 20208:57 AM EST

Key Points

JMP upgraded Tesla to outperform from market perform.
Deutsche Bank upgraded UPS to buy from hold.
Wells Fargo lowered its price target on Disney to $155 from $180.
Needham added Uber to its conviction list.
Bank of America downgraded Anheuser-Busch InBev to neutral from buy.
Piper Sandler upgraded Advanced Micro Devices to overweight from neutral.

(This story is for CNBC PRO subscribers only.) Here are the biggest calls on Wall Street on Tuesday: JMP upgraded Tesla to 'outperform' from 'market perform' JMP said in its upgrade of Tesla that the stock should be more "highly valued" on the 2021 outlook than it is now. "The recent market-driven pullback provides investors with a good opportunity to enter the stock in our opinion, and a perusal of offerings from competitors suggests that TSLA 's market position should continue to be dominant. Interestingly enough, revisions to our 2021 model put us only moderately above consensus, but a look at the longer-term potential for TSLA's growth suggests the stock should be more highly valued on the 2021 outlook than it currently is." Deutsche Bank upgraded UPS to 'buy' from 'hold' Deutsche Bank said UPS was one of the most compelling names in its coverage and said the company had significant upside. "We also note that the spread between UPS 's dividend yield and 10yr treasury yield has never been wider at 330bps (vs. 90bps spread average since 2015). At the risk of stating the obvious, we don't know how coronavirus will evolve; but we do know that periods of difficulty and challenge can create dislocations and long-term opportunity. In this context we view UPS as one of the most compelling ideas in our coverage following the recent correction and forecast significant upside as focus eventually moves from transitory headwinds to structural earnings power, with above-mentioned dividend yield providing strong support for equity value." Wells Fargo lowered its price target on Disney to $155 from $180 Wells Fargo lowered its price target on the media stock on concerns about the company's exposure to coronavirus through its international park business "Though a great set of Media assets, Disney is more exposed to coronavirus than anything else we cover primarily due to its international Parks business. The stock is off 15% over the last three weeks (vs the S & P500 –8%) as the China/Asia outlook has gotten incrementally worse and contagion fears have spread to Europe and the US. We're cutting estimates and valuation as a result." Needham added Uber to its 'conviction buy list' Needham added Uber to its conviction buy list and said it sees an attractive buying opportunity with the stock down over 20% since its "post-earnings levels" due to the coronavirus. "With 15% of its Rides coming via airports and some likely further impact associated from those same customers in-destination, we are lowering our Rides booking and net revenue estimates, which also brings down our EBITDA assumptions and prompts a lower target. With all that said, the stock is now down over 20% since its post-earnings levels, and we think Coronavirus concern has created a very attractive buying opportunity with the stock at an EV/revenue multiple of only 3x our '21 estimate. We acknowledge the airport & related Rides could be hurt in the near-term but with management speaking later this week at investor conferences, we think that addressing the impact more likely puts a floor in the stock than causes further downside given what's priced in." Read more about this call here . Bank of America downgraded Anheuser-Busch InBev to 'neutral' from 'buy' Bank of America downgraded the beverage maker due to a tough macro and coronavirus concerns among other things. "But, we see near term headwinds as having a more dominant effect. For 1Q20 in particular, these include: 1) tough comps on volume (+1.3% 1Q19); 2) Brazil EBITDA down mid-teens driven by COGS pressure and sales/marketing expenses; and 3) impact of Covid-19. On our numbers, ABI trades at a 6% premium to Staples on P/E (vs its 10Y average of a 5% premium). We see limited room for re-rating against a backdrop of tough comps, tough macro and Covid-19 related uncertainty." Piper Sandler upgraded Advanced Micro Devices to 'overweight' from 'neutral' Piper said the pullback in the multinational semiconductor company creates an attractive entry point. "Following the recent pullback, we are upgrading AMD to Overweight from Neutral and increasing our PT to $56 from $45. We believe the recent pullback in price due to the coronavirus provides an attractive opportunity for long-term investors, as we see the company's product set as extremely well positioned to gain share over the next several years. In addition to the upgrade, we are also slightly lowering our near-term estimates to reflect our expected coronavirus impact."

The United Parcel Service Inc. (UPS) logo is displayed on a truck parked in New York.

Michael Nagle | Bloomberg | Getty Images

(This story is for subscribers only.)

Here are the biggest calls on Wall Street on Tuesday:

JMP upgraded Tesla to 'outperform' from 'market perform'

JMP said in its upgrade of Tesla that the stock should be more "highly valued" on the 2021 outlook than it is now.

"The recent market-driven pullback provides investors with a good opportunity to enter the stock in our opinion, and a perusal of offerings from competitors suggests that TSLA's market position should continue to be dominant. Interestingly enough, revisions to our 2021 model put us only moderately above consensus, but a look at the longer-term potential for TSLA's growth suggests the stock should be more highly valued on the 2021 outlook than it currently is."

Deutsche Bank upgraded UPS to 'buy' from 'hold'

Deutsche Bank said UPS was one of the most compelling names in its coverage and said the company had significant upside.

"We also note that the spread between UPS's dividend yield and 10yr treasury yield has never been wider at 330bps (vs. 90bps spread average since 2015). At the risk of stating the obvious, we don't know how coronavirus will evolve; but we do know that periods of difficulty and challenge can create dislocations and long-term opportunity. In this context we view UPS as one of the most compelling ideas in our coverage following the recent correction and forecast significant upside as focus eventually moves from transitory headwinds to structural earnings power, with above-mentioned dividend yield providing strong support for equity value."