- Loop downgraded Disney to hold from buy.
- BTIG initiated Beyond Meat as buy.
- SunTrust raised its price target on Peloton to $60 from $52.
- Seaport initiated Lockheed Martin and Northrop Grumman as buy.
- Evercore ISI initiating MSG Sports as outperform.
- Guggenheim downgraded Comcast to neutral from buy.
- Bernstein upgraded Hain Celestial to outperform from market perform.
- Jefferies downgraded Expedia to hold from buy.
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Here are the biggest calls on Wall Street on Tuesday:
Loop downgraded the entertainment giant and said it thinks it will take longer for the company to rebound from the coronavirus than Wall Street thinks.
"We are downgrading our rating on Disney from Buy to Hold as we believe the bounce back from the pandemic will take longer than the Street is currently estimating, the stock is approaching our price target, and the uncertainty is exacerbated by the loss of Kevin Mayer announced after the close yesterday. Disney is clearly the premiere traditional media company and its rollout of Disney+ has been flawless. The earlier a vaccine is available the sooner the parks, stadiums and theaters will open, but the economy will likely have a multi-year impact on park attendance and Covid-19 has accelerated the negative trends in the traditional media business."
BTIG initiated the alternative meat company and said it believes partnerships with restaurant operators will help to elevate the brand nationally.
"We are initiating coverage of Beyond Meat with a Buy rating and $173 price target based on growing adoption of plant-based meats and the sales potential from future restaurant partnerships. We expect consumers to gravitate toward plant-based protein options as they seek to support companies and brands that make a difference, not just a product."