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Here are the biggest calls on Wall Street on Thursday:
Canaccord said in its upgrade of the meal home delivery company that it saw improving fundamentals.
"With an undemanding valuation and the model returning to a growth footing for the first time in years, we find the risk/reward profile compelling for 2 reasons: (1) with customers engaging with the service at robust levels, we think current COVID-related tailwinds have a solid chance of proving structural rather than temporary, which would likely mean at least 6-12 months of upward estimate revisions, and (2) the current multiple of 0.35x 2021 revenue is indicative of a company that is shrinking and/or facing liquidity concerns, and at this point we see neither applying to APRN."
Citi upgraded the lifestyle and accessories retailer and said it thinks the company will be a "share winner" in the intimates and loungewear category.
"We believe the success and opportunity at Aerie is too significant to overlook. Aerie has been and we believe will continue to be a share winner in the intimates/loungewear category. Their performance over the past several years has stood out in retail, and we believe with Victoria's Secret closing ~250 stores, Aerie is poised to accelerate its market share gains. And Aerie is showing signs of becoming more of a lifestyle brand with its entry into athletic/athleisure."