Here are Monday's biggest analyst calls of the day: Intel, Netflix, Tesla, Zoom & more

Key Points
  • Goldman Sachs downgraded Intel to sell from neutral.
  • Imperial downgraded Netflix to in line from outperform.
  • Bernstein downgraded Spotify to underperform from market perform.
  • JMP raised its price target on Tesla to $1,500 from $1,050.
  • Citi initiated Harley-Davidson as buy.
  • Baird raised its price target on Zoom to $300 from $230.
A remote control is seen being held in front of a television running the Netflix application
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Here are the biggest calls on Wall Street on Monday

Goldman Sachs downgraded Intel to sell from neutral

Goldman said in its downgrade of Intel that it thought the company would be a beneficiary of the work from home environment but recent checks show a "slowdown" in the PC market.

"We upgraded the stock from Sell to Neutral on 3/24, as we believed the company would be an outsized beneficiary of WFH through its exposure to the PC and server end-markets. With our recent industry checks indicating a slowdown in PC builds in 2H20 and continued share loss for Intel in the client and server CPU markets, we reduce our 2021/2022 earnings estimates to below Street levels and return to a more cautious investment stance."

Imperial downgraded Netflix to in line from outperform

Imperial downgraded the stock mainly on valuation.

"We are lowering our rating on NFLX shares from Outperform to In-Line for the simple reason that the stock has performed consistent with our Outperform rating as measured by pretty much any standard time unit. For the 1Q20 quarter, NFLX shares finished up 14.8%, versus the S&P which finished down 20.6%. Thus far, for 2020, NFLX shares have risen 50.2%, versus the S&P 500, which is down 3.3%. In the last 18 months, shares of NFLX are up 81.6%, versus the S&P 500 which is up 26.1%. The stock is also trading just short of an all-time high, and at a mere 2.5% discount to our price target of $489."