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Wall Street analysts upgrade stocks like Boeing and Home Depot on hopes the market has bottomed

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Key Points
  • Deutsche Bank upgraded Qualcomm to buy from hold.
  • Bank of America downgraded JPMorgan to neutral from buy.
  • Loop Capital upgraded Home Depot to buy from hold.
  • JPMorgan upgraded Deere to neutral from underweight.
  • Bank of America downgraded Caterpillar to neutral from buy.
  • Berenberg downgraded UPS to hold from buy.
  • BTIG initiated CrowdStrike as buy.
  • Morgan Stanley upgraded WW to overweight from equal weight.
  • Morgan Stanley downgraded Quest Diagnostics to equal weight from overweight.
  • William Blair upgraded Generac to outperform from market perform.
  • Evercore ISI downgraded Macy's, Guess, L Brands and Under Armour to in line from outperform .
  • SunTrust upgraded Constellation Brands to buy from hold.
  • Argus upgraded Boeing to buy from hold.
  • Argus upgraded Coca-Cola to buy from hold.
  • UBS upgraded Lam Research to buy from sell.
  • New Street upgraded Tesla to buy from neutral.
Scott Glenn is in charge of asset protection for Home Depot.
Source: CNBC

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The market volatility continues as investors look for a bottom, but Wall Street analysts are still finding buying opportunities. Stocks getting upgrades on Friday include Qualcomm, Tesla, Home Depot, Generac, and more.

Here are the biggest calls on Wall Street on Friday:

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

Deutsche Bank said in its upgrade of the stock that it sees an "attractive" risk/reward.

"While the semiconductor sector overall has yet to underperform by a magnitude that yields a meaningfully more attractive opportunity, there are names within the sector that have corrected by a significant amount despite possessing positive attributes we highlighted in our recent Semiconductor Sector investment framework report. We believe QCOM is one of those names, even after downwardly revising our near-term estimates and taking a more conservative view on valuation. Consequently, we are upgrading QCOM from a Hold to a Buy rating, with our P/T now at $85."

Loop Capital upgraded Home Depot to 'buy' from 'hold'

Loop said in its upgrade of the stock that it expects the company to be "less impacted" from the coronavirus than other retailers.

"We believe HD will be less impacted than most retailers based on the simple fact that its stores are expected to remain open. Construction is considered an essential industry, and we believe many projects are ongoing despite the spike in unemployment overall. Our expectation for SSS -3% in 2020 only reflects growth YoY in F1Q. Our F2020 EPS estimate of $8.52 would represent a 17% decline."

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