Here are Friday's biggest analyst calls of the day: Uber, Constellation Brands, Square & more

Key Points
  • DA Davidson upgraded Uber to buy from neutral.
  • MKM downgraded Constellation Brands to sell from buy.
  • Guggenheim downgraded Square to neutral from buy.
  • Wells Fargo downgraded Murphy Oil to equal weight from overweight.
  • Jefferies downgraded Nintendo to hold from buy.
  • Macquarie downgraded Hyatt Hotels to neutral from outperform.
  • Susquehanna downgraded Marathon Oil to neutral from positive.
Constellation Brands product line.
Adam Jeffery | CNBC

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Here are the biggest calls on Wall Street on Friday:

DA Davidson upgraded Uber to 'buy' from 'neutral'

DA Davidson upgraded the stock after the company's earnings report and said it sees the company is well-positioned to emerge from the coronavirus crisis.

"We upgrade shares of UBER from Neutral to BUY, and raise our PT from $23.50 to $39. UBER posted a generally inline 1Q, and, although COVID-19 will pressure core Ridesharing over the next several quarters, we believe UBER is well-positioned to leverage its multi-product platform (Rides, Eats, and increasingly Grocery) to emerge post-pandemic in a significantly stronger competitive position. UBER is also getting leaner, with recent cost actions/ market exits set to reduce annualized fixed costs by $1B and help ensure adj. EBITDA profits are delayed only slightly (to early 2021 in our view) despite COVID."

MKM downgraded Constellation Brands to 'sell' from 'buy'

MKM double downgraded the stock as the firm said the company is seeing productivity and availability issues with certain products from Mexico.

"We estimate it takes 40 days to brew/ship many of Constellation's beers, so current out-of-stock issues can't improve until 40 days after STZ increases brewing capacity (best case: May 18th increased production begins resolving out-of-stock issue by June 27th). Additionally, there is a very real risk that production won't increase on May 18th (as most expect): 1) Mexico already pushed the date once. 2) Yesterday, President AMLO said business can resume in municipalities with no COVID-19 cases. STZ's state has 534 and municipality has >22 cases. 3) A promised list (04/16/20) of municipalities that can re-open has not been provided."