Here are Wednesday's biggest analyst calls of the day: Tesla, Roku, Apple, Nikola, Shopify & more

Key Points
  • Telsey upgraded Urban Outfitters to outperform from market perform.
  • Piper Sandler initiated Chegg as overweight.
  • Morgan Stanley upgraded Keurig Dr Pepper to overweight from equal weight.
  • Wedbush initiated Nikola as neutral.
  • Jefferies raised its price target on Tesla to $2,500 from $1,200.
  • Citi initiated Roku as buy.
  • Morgan Stanley upgraded Nio to overweight from equal weight.
  • Atlantic Equities initiated Shopify as overweight.
  • Wedbush raised its price target on Apple to $600 to $515.
The Roku IPO at the Nasdaq, September 28, 2017.
Source: Nasdaq

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Here are the biggest calls on Wall Street on Wednesday:

Telsey upgraded Urban Outfitters to outperform from market perform

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 Sandler initiated Chegg as overweight

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."