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Here are the biggest calls on Wall Street on Wednesday:
Telsey upgraded Urban Outfitters after it reported better than expected earnings and said it sees "further stock upside."
"The company managed to expand its operating margin for the quarter while maintaining clean inventory levels and controlling expenses. The return to profitability allowed management to resume growth-supporting capital investments while paying down debt at a time when others in the space scramble to shore up liquidity. Trends through the quarter suggest that the topline can continue to improve sequentially while rent concessions can benefit gross margin as well."
Piper initiated the education technology company and said it expects Chegg to be a "primary beneficiary" of the online learning experience for students going forward.
"As a leader in digitizing the student experience, Chegg enriches the student learning experience through its Chegg Services (Study, Writing, Math, etc.) offering and reducing the cost of renting/buying essential materials (text books, etc.). As education increasingly adapts to online learning models, we expect Chegg to be a primary beneficiary, given the company's core offering is digitizing the student experience."