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Here are the biggest calls on Wall Street on Friday:
Stephens said in its downgrade of the streaming entertainment service that it had concerns about the company's partnership with Chinese electronics maker TCL.
"We are downgrading ROKU from OW/V to EW/V, largely on continued TCL concerns. These aren't new fears to us or ROKU shareholders, we don't have any new/incremental information on this key partnership and the agreement has clearly been mutually beneficial from a market share perspective, but we believe ROKU has benefited tremendously from TCL's heavy lifting, TCL still isn't participating meaningfully in ROKU's downstream advertising/commerce economics and we have gradually grown more concerned with the duration/magnitude of what we believe is ROKU overearning vs. its most important partner."
Read more about this call here.
Wells Fargo raised its price target on the stock to a Street high after the company's strong earnings report and called it a "deepening secular growth story."
"NVIDIA's portfolio positioning should leave investors with more confidence that NVIDIA can progress to a +$11/sh. EPS story looking to C2022, in our opinion. ... .NVIDIA reported F1Q21 Datacenter revenue at $1.141B vs. the $1.06B street est.; reminder that Mellanox closed on 4/27. This was driven by broad-based strong demand across hyperscale and vertical customers. Company noting that it has "solid visibility" into F2Q21. "