- Deutsche Bank upgraded Dave and Buster's to buy from hold.
- Goldman Sachs downgraded Wynn to neutral from buy.
- Wells Fargo initiated Roku as overweight.
- MKM upgraded Occidental Petroleum to buy from neutral.
- Deutsche Bank initiated Nio as buy.
- Deutsche Bank upgraded Disney to buy from hold.
- Morgan Stanley initiated JetBlue, Delta, Southwest as overweight.
- Leerink downgraded Moderna to underperform from market perform.
- Goldman Sachs initiated Foot Locker as buy.
- Morgan Stanley initiated Boeing as underweight.
- Argus upgraded Verizon to buy from hold.
- UBS initiated Virgin Galactic as buy.
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Here are the biggest calls on Wall Street on Tuesday:
Deutsche upgraded the family sports-bar and arcade mainly on valuation.
"We are upgrading shares of PLAY to Buy, as we believe that there is still ~50% upside over the next 12 to 18 months in a relatively conservative base case, and potentially more than that in a bull case which isn't hard to imagine, but which admittedly offers little in the way of visibility in regards to timing."
Goldman said in its downgrade of Wynn that the company had too much exposure to its casinos and hotels in Macau and that it saw "limited upside."
"Wynn (parent company) holds outsized exposure to Wynn Macau and after revising our forecasts to embed softer VIP in 2021, we ﬁnd limited upside, given the stock's recent run (+21% in August vs. S&P 500 +6%). As such, we downgrade WYNN to Neutral from Buy and remove it from our Conviction List, with a 12-month target price of $95 (vs $96 prior)."