- KeyBanc downgraded Vail to sector weight from overweight.
- Credit Suisse raised its price target on Abbott Labs to $136 from $109.
- Citi upgraded Beyond Meat to neutral from sell.
- R5 Capital downgraded Walmart to hold from buy.
- Cowen initiated Virgin Galactic as outperform.
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Here are the biggest calls on Wall Street on Monday:
KeyBanc downgraded the ski company on valuation and "less enthusiasm" around the risk/reward.
"While the sport of skiing is poised to be a large beneficiary of the secular 'outdoor renaissance' this winter, we believe behavior shifts are likely to impair the traditional, destination ski resort business model in the MT, prompting less enthusiasm around the risk/reward at current levels. We lower estimates below consensus, making it difficult to justify ascribing MTN a higher multiple ahead of potentially protracted weakness in destination visitation."
Credit Suisse raised its price target on the multinational medical device company to a Street high on the strength of Abbott's new coronavirus test.
"While there is little debate among investors over the magnitude of near-term sales these new COVID-19 tests will generate, the question as to how long these sales will continue, or how much share ABT will ultimately capture remains actively contested. Our view remains that lateral flow tests, which can be performed without instruments or equipment, by wide range of individuals, will be an important and widely used tool for mitigating the risk of spreading the virus while reopening businesses and schools."