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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 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 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."