Here are Friday's biggest analyst calls of the day: FedEx, Callaway Golf, T-Mobile & more

Published Fri, Aug 7 20207:51 AM EDTUpdated Fri, Aug 7 20208:54 AM EDT

Key Points

Evercore ISI upgraded Brinker to outperform from in line
Stephens downgraded The Trade Desk to equal weight from overweight.
Stephens named FedEx a best idea.
Compass point downgraded Callaway Golf to neutral from buy.
JPMorgan reiterated T-Mobile as a top idea.

(This story is for CNBC PRO subscribers only.) Here are the biggest calls on Wall Street on Friday: Evercore ISI upgraded Brinker to outperform from inline Evercore upgraded the restaurant hospitality company and owner of brand's like Chili's and said Brinker is seeing "improved execution." "We are increasing our base case SSS and EPS estimates through FY22 based on Chili's (90% of Brinker sales) accelerating share gains, growing digital sales and generally improving execution. Heading into COVID, Chili's had seemingly laid the groundwork for share gains with a simplified and renovated menu, improved everyday value (3 for $10), and a new delivery relationship with DoorDash." Stephens downgraded The Trade Desk to equal weight from overweight Stephens downgraded the digital ad software platform mainly on valuation after its earnings report. "Revenue improved steadily off a mid-April low, turned to positive growth in June and the trend continued into July. Key channels – CTV, mobile and audio – all grew better than 15% YOY in the period and we believe the macro trends powering TTD remain intact. Overall, a solid quarter vs. expectations. However, we are lowering our rating on TTD from OW/V to EW/V on valuation alone." Stephens named FedEx a best idea Stephens named the shipping company has a best idea and raised its price target to a Street high $215 from $180. The firm said it sees "positive estimate revisions" over the next 4-6 quarters. "The current setup for FedEx is perhaps the best it has been since mid-2013. During that period, a number of internal initiatives combined with an improving macro backdrop to ultimately drive a string of positive estimate revisions and a doubling of the stock over the next 18 months. We see a number of similarities today and yet the stock remains stubbornly range bound despite increasingly positive demand and pricing anecdotes. As we outline below, we believe there are at least ten items that are potential catalysts for the stock/earnings which we believe should drive positive estimate revisions over the next 4-6 quarters." Compass point downgraded Callaway Golf to neutral from buy Compass Point downgraded the stock and said the golfing company may not return to pre-coronavirus levels in 2021. " Callaway Golf was on an operational roll with tremendous momentum in the core golf business prior to the COVID-19 crisis. At this stage 2020 is fast becoming a lost year and ELY will execute as best they can. Fortunately the golf industry is likely to fare much better than other forms of recreation given its social distancing capabilities. But ELY suggested that 2021 would not likely match 2019's non-COVID results." JPMorgan reiterated T-Mobile as a top idea JPMorgan reiterated the cellualr company as a top pick and said it was "encouraged" by the company's strong earnings and continuing ability to execute its merger with Sprint. " T-Mobile remains a TOP IDEA across our coverage as we see substantial synergy and operating efficiencies over the next several years – driving strong EBITDA and cash flow growth. We are encouraged by strong 2Q results and 2H20 guidance."

A cyclist rides past a FedEx Corp. Boeing 767-300F cargo plane at the San Diego International Airport (SAN) in San Diego, California, U.S., on Monday, April 27, 2020.

Bing Guan | Bloomberg | Getty Images

(This story is for CNBC PRO subscribers only.)

Here are the biggest calls on Wall Street on Friday:

Evercore ISI upgraded Brinker to outperform from inline

Evercore upgraded the restaurant hospitality company and owner of brand's like Chili's and said Brinker is seeing "improved execution."

"We are increasing our base case SSS and EPS estimates through FY22 based on Chili's (90% of Brinker sales) accelerating share gains, growing digital sales and generally improving execution. Heading into COVID, Chili's had seemingly laid the groundwork for share gains with a simplified and renovated menu, improved everyday value (3 for $10), and a new delivery relationship with DoorDash."

Stephens downgraded The Trade Desk to equal weight from overweight

Stephens downgraded the digital ad software platform mainly on valuation after its earnings report.

"Revenue improved steadily off a mid-April low, turned to positive growth in June and the trend continued into July. Key channels – CTV, mobile and audio – all grew better than 15% YOY in the period and we believe the macro trends powering TTD remain intact. Overall, a solid quarter vs. expectations. However, we are lowering our rating on TTD from OW/V to EW/V on valuation alone."