- Needham upgraded Nvidia to buy from hold.
- Morgan Stanley upgraded Virgin Galactic to overweight from equal weight.
- DA Davidson upgraded Zillow to buy from neutral.
- Wedbush upgraded Deckers to outperform from neutral.
- UBS upgraded Tesla to neutral from sell.
- UBS downgraded Ford to neutral from buy.
- Raymond James upgraded Cigna to strong buy from outperform.
- Goldman Sachs upgraded Intel to neutral from sell.
- Telsey upgraded Dollar Tree to outperform from market perform.
- Cowen upgraded Callaway Golf to outperform from market perform.
- Bernstein upgraded Spotify to market perform from underperform.
- Argus downgraded Tesla to hold from buy.
(This story is for CNBC PRO subscribers only.)
Wall Street analysts upgraded a bunch of stocks on Tuesday as the market showed signs of a turnaround. The upgraded stocks include, Nvidia, Tesla, Virgin Galactic, Zillow, and more.
Here are the biggest calls on Wall Street on Tuesday:
Needham said in its upgrade of Nvidia that it has a superior balance sheet among other things.
"We acknowledge it's risky to upgrade a stock given this vicious pandemic and the subsequent economic fallout. However, during this uncertain time, we believe investors will flock to companies with superior balance sheets and robust free cash flow. NVDA fits the bill on that front, as we see it."
Morgan Stanley said in its upgrade that it sees a 90% upside for the spaceflight company.
"The world has changed in the past month, including SPCE's stock down >70%. However, the story and the balance sheet remain intact. Despite mark-to-marking our PT to $24, we still see ~90% upside and as a result move to OW.