Wall Street analysts are still upgrading stocks amid ongoing market volatility, including Twitter and Lululemon

Key Points
  • Goldman Sachs upgraded Twitter to buy from neutral.
  • Rosenblatt initiated Peloton as buy.
  • B. Riley FBR upgraded Lululemon and Abercrombie & Fitch to buy from neutral, and upgraded Under Armour to neutral from sell.
  • Credit Suisse downgraded Shake Shack to neutral from overweight.
  • RBC downgraded Ralph Lauren to sector perform from outperform.
  • Deutsche Bank upgraded Walgreens Boots Alliance to hold from sell.
Twitter CEO and co-founder Jack Dorsey gestures while interacting with students at the Indian Institute of Technology (IIT) in New Delhi on November 12, 2018.
Prakash Singh | AFP | Getty Images

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Wall Street analysts upgraded a slew of stocks on Friday as the market volatility continued. They include Twitter, Walgreens Boots Alliance, and more.

Here are the biggest calls on Wall Street on Friday:

Goldman Sachs upgraded Twitter to 'buy' from 'neutral'

Goldman said in its upgrade of the stock that the coronavirus crisis continues to drive user growth, which should put the company in a stronger position after the pandemic passes.

"We've reduced our estimates to reflect the expectations for the ongoing impact of the COVID-19 crisis and the anticipated recession. While there are a number of variables in estimating the impact of the current crisis (user growth, advertiser exposure, ad budget trajectories, etc.), we believe that acceleration in Twitter users implied by company guidance and third-party data, along with the pre-crisis acceleration in user growth and engagement driven by product investments, leave Twitter well positioned to exit this crisis stronger than it entered it.  Therefore, we upgrade TWTR to Buy (from Neutral), though our 12-month price target goes to $35 from $39 to reflect our revised estimates."

Rosenblatt initiated Peloton as 'buy'

Rosenblatt said it sees the company as a beneficiary of the coronavirus as more consumers work out from home.

"We believe PTON is attractively positioned disrupting the fitness industry and an attractive business model benefiting economies of scale and early mover advantage. We believe PTON should be a beneficiary from COVID-19 in the short term as gyms are closed, and potential upside over the medium term consumer preferences continue to shift towards working out at home. Along with CHTR, PTON is our top pick in Consumer Tech to own."