Here are Friday's biggest analyst calls of the day: Roku, Canopy Growth, Nvidia & more

Key Points
  • Stephens downgraded Roku to equal weight from overweight.
  • Bank of America raised its price target on BJ's to $45 from $38.
  • Wells Fargo raised its price target on Nvidia to $430 from $350.
  • Bank of America reinstated coverage of Canopy Growth as buy.
  • B. Riley FBR initiated Wolverine Worldwide as buy.
  • Bank of America downgraded Take-Two Interactive to neutral from buy.
Roku TV
Source: Roku TV

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Here are the biggest calls on Wall Street on Friday:

Stephens downgraded Roku to 'equal weight' from 'overweight'

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 Nvidia to $430 from $350

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. "