Wall Street analysts upgrade more stocks, including Lowe's and Constellation Brands, as the rebound rolls on

Key Points
  • Loop upgraded Lowe's to buy from hold.
  • UBS upgraded Constellation Brands to buy from neutral.
  • Wells Fargo upgraded Marriott to overweight from equal weight.
  • Wells Fargo initiated Take-Two Interactive as overweight.
  • Wells Fargo initiated Activision Blizzard as overweight.
  • Raymond James downgraded Shopify to market perform from outperform.
  • Bank of America upgraded Wayfair to buy from neutral.
  • Rosenblatt downgraded Twilio to neutral from buy.
  • Deutsche Bank downgraded General Motors to hold from buy.
SAN FRANCISCO, CA - NOVEMBER 16: A sign is posted in front of a Marriott hotel on November 16, 2015 in San Francisco, California. Marriott International announced plans to purchase Starwood Hotels & Resorts for $12.2 billion. The deal would create the world's largest hotel company. (Photo by Justin Sullivan/Getty Images)
Justin Sullivan | Getty Images News | Getty Images

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The markets continue to rebound and in Tuesday's calls of the day Wall Street analysts see plenty of opportunities for investors. Upgrades include Wayfair, Constellation Brands, and more.

Here are the biggest calls on Wall Street on Tuesday:

Loop upgraded Lowe's to 'buy' from 'hold'

Loop said in its upgrade of Lowe's that it sees upside to estimates mainly due to the fact that the home improvement company is one of the few stores open during the coronavirus crisis.

"We are raising our rating from Hold to Buy despite lowering our price target on Lowe's from $115 to $105 as we adjust our estimates for our expectations of a slowdown and expense pressures from Covid-19. Our F2020 sales estimate is cut by $2 billion, as we reflect the impact of a recession. Lowe's faces its most difficult SSS comparison in F1Q, but we think there may be upside to our estimate of +1% if only because Lowe's is one of the few open retailers in much of the US."

UBS upgraded Constellation Brands to 'buy' from 'neutral'

UBS said in its upgrade of the stock that the company's valuation was attractive.

"We see STZ as well positioned through the on-premise slowdown due to limited exposure (15%), and recognized brands to weather a period where consumers buy what they know. After restrictions are lifted, we do however expect a more lasting behavioral shift to favor outdoor social gatherings over bar/resto traffic, which favors the STZ Brands. Near-term challenges to both fundamentals and sentiment include timing/scope of the wine divestitures, channel disruptions, likelihood of a temporary shutdown for Mex breweries and an uncertain Mexicali facility."