(This story is for CNBC PRO subscribers only.)
Wall Street analysts continue to be bullish on stay-at-home stocks as the coronavirus pandemic wreaks havoc on all parts of the market. Thursday's calls of the day include Kraft Heinz, Netflix, Roku, Sherwin-Williams and more.
Here are the biggest calls on Wall Street on Thursday:
Goldman Sachs raised its price target on the stock and said it thinks the coronavirus crisis was accelerating the shift from traditional content viewing to streaming.
"We expect Netﬂix to report 1Q results well above guidance, with over 10mn net subscriber additions, and provide initial guidance for 2Q ahead of FactSet Consensus, even accounting for management conservatism. Content additions to the platform, combined with the value of Netﬂix's library to those staying home during the COVID-19 crisis, drove this outperformance, more than offsetting the lingering impact of last year's price increase and growing competition in SVOD."
JPMorgan said the company is benefiting from the stay-at-home trend and a shift toward on-demand streaming.
"Recent data points have been strong in a COVID-19 environment: 1) According to Apptopia, the Netflix app was downloaded ~21M times in 1Q, the second highest quarter ever just behind 1Q19, which saw 9.6M net adds; 2) ROKU's 1Q results (pre-announced on 4/13) showed +49% Y/Y growth in total streaming hours; 3) We view Disney+ passing 50M global subs as positive for NFLX as it reflects the secular shift to online streaming; and 4) A WSJ survey published on 4/11 found the average American household increased spending on video streaming from $30 in November to $37 in March, making it increasingly clear that on-demand is not a zero-sum game."