Here are Friday's biggest analyst calls of the day: Beyond Meat, Wells Fargo, Amazon & more

Published Fri, Jul 10 20208:28 AM EDTUpdated Fri, Jul 10 202010:17 AM EDT

Key Points

Citi raised its price target on Amazon to $3,550 from $2,700.
Goldman Sachs raised its price target on Netflix to $670 from $540.
Rosenblatt raised its price target on Nvidia to $500 from $400.
RBC downgraded Redfin to sector perform from outperform.
Citi initiated Beyond Meat as sell.
Susquehanna upgraded Foot Locker to positive from neutral.
Evercore ISI added Wells Fargo to the tactical outperform list.
Baird upgraded Wells Fargo to outperform from neutral.

(This story is for CNBC PRO subscribers only.) Here are the biggest calls on Wall Street on Friday: Citi initiated Beyond Meat as sell Citi initiated the alternative meat company as sell and said it sees rising competition among other things. " Beyond Meat is a leader in the plant-based meat market, benefitting from a well-known brand that has been developed in both the refrigerated meat section of the grocery store and more recently, in foodservice locations. However, given that we expect the company to face both (i) near-term pressure as a result of its exposure to the foodservice segment and (ii) longer-term pressure as the category becomes more competitive, we are initiating coverage with a Sell rating and a $123 target price, which represents ~15% downside from the current price." Citi raised its price target on Amazon to $3,550 from $2,700 Citi raised its price target on the stock to a Street high and said it still sees more room for growth in the company's core ecommerce business. "We see a lot of future growth in business to consumer ecommerce driven by both category growth and share gains, particularly outside the US. And, we see incremental – and more profitable growth - in Amazon 's business to business segments. As such, we are maintaining our Buy rating, and increase our target price to $3,550. We are rolling forward our valuation framework to 2022 (from 2021), and arrive at our target price by applying a 25x multiple to our 2022E EBITDA estimate." Read more about this call here . Goldman Sachs raised its price target on Netflix to $670 from $540 Goldman raised its price target on the stock to a Street high and said it still believes consesus estimates are too low ahead of the company's earnings report next week. "We expect Netﬂix to report 2Q results well above guidance with at least 12.5mn net subscriber additions, as quarterly app downloads reached a record high and y/y downloads growth reached its highest level since 1Q16. We believe this was driven by growth in content on the platform, a lack of competition for entertainment hours and spend driving churn lower, and more time being spent at home even as a number of ofﬁcial orders have been lifted. While management is likely to guide 3Q conservatively given the 1H outperformance and the massive uncertainty in the current environment, we believe consensus estimates for the 2H and beyond remain too low. Read more about this call here . Rosenblatt raised its price target on Nvidia to $500 from $400 Rosenblatt raised its price target on the stock to a Street high and said it sees more growth ahead in the company's Data Center business. "We continue to like the Nvidia story over the long-term, as we see the secular shift to data processing units within the data center (Nvidia now has over 40% exposure to the data center inclusive of Mellanox), the entrance into new markets (inference, analytics, machine learning), and strategic partnerships (Mercedes-Benz, potentially others) helping to drive strong revenue growth over the coming years." See here for more on the Amazon, Netflix and Nvidia calls. RBC downgraded Redfin to sector perform from outperform RBC downgraded the online real estate company and said it sees a more "balanced" risk/reward. "We are downgrading shares of RDFN to Sector Perform, but leaving our estimates unchanged. Since June 5th, the stock has rallied 97% (vs. the S & P500 at -2%) and 400% from its trough on March 18th. All-in, fundamentals remain intact, but valuation has crept up to an extent we see the risk-reward reasonably balanced, given larger macro uncertainties, particularly around second order COVID impacts, depressed inventory levels, and little visibility into the recovery of real-estate." Susquehanna upgraded Foot Locker to positive from neutral Susquehanna said in its upgrade of the foot wear company that its checks show sales have started to accelerate as consumers return and stores re-open. "We are upgrading FL from Neutral to Positive due to recent checks that indicate June sales have accelerated as more stores have opened up. Further, the core Foot Locker consumers in the U.S. have stimulus money burning holes in their pockets, and little to no money is being spent on dining out and travel. As such, current trends are likely better (or less bad) than consensus expectations, and we are increasing our 2Q20 EPS estimate from -$0.53 to -$0.33 (Street: -$0.64) and our SSS estimate from -21.2% to -14.3% (Street: -30.6%). Evercore ISI added Wells Fargo to the tactical outperform list Evercore ISI added the bank to its tactical outperform list and said that its upcoming earnings report might be "challenged" but that it sees upside with the dividend cut "behind" the company. " WFC' s shares have materially underperformed the banks over the past several mos – declining 24% since its April earnings release vs a 4% downward move in the BKX and a 1% median downturn in our covered banks over the same period. ... .And while 2Q earnings trends will likely be challenged, we believe the stock could see n/t upside as mgmt puts the dividend cut behind the company." Baird upgraded Wells Fargo to outperform from neutral Baird said in its upgrade of the stock that investor sentiment is too negative and that it sees opportunity in the pullback. "Investor sentiment for banks has sharply weakened since June with investors focusing on the spectrum of risks including rates, COVID, credit, dividend caps, politics, etc. This momentum trade, with banks on the short end, creates opportunities though. We are using this pullback to add bank exposure and upgrading WFC (focus now is resolving consent orders and delivering improving efficiency/earnings power) and CMA (discounted credit losses too severe, attractive M & A target if environment does not improve) to Outperform."

Nvidia CEO Jensen Huang speaks at a press conference on Jan. 7, 2018.

MANDEL NGAN | AFP | Getty Images

(This story is for CNBC PRO subscribers only.)

Here are the biggest calls on Wall Street on Friday:

Citi initiated Beyond Meat as sell

Citi initiated the alternative meat company as sell and said it sees rising competition among other things.

"Beyond Meat is a leader in the plant-based meat market, benefitting from a well-known brand that has been developed in both the refrigerated meat section of the grocery store and more recently, in foodservice locations. However, given that we expect the company to face both (i) near-term pressure as a result of its exposure to the foodservice segment and (ii) longer-term pressure as the category becomes more competitive, we are initiating coverage with a Sell rating and a $123 target price, which represents ~15% downside from the current price."