- Cowen upgraded Adobe to outperform from market perform.
- UBS raised its price target on Tesla to $325 form $160.
- Cowen upgraded Domino's Pizza to outperform from market perform.
- Goldman Sachs raised its price target on Peloton to $138 from $110.
- BTIG upgraded Etsy to buy from neutral.
- UBS downgraded Expedia to neutral from buy.
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Here are the biggest calls on Wall Street on Friday:
Cowen said in its upgrade of the stock that it sees "solid upside" when the company reports earnings on September 15.
"We are upgrading ADBE to Outperform & raising our PT to $555, noting 1) a rebound in partner checks; 2) a sharpened focus on DX organic growth/margins; and 3) a COVID-19 induced macro driving accelerating demand for Doc Cloud while expanding the long tail for creative cloud, all of which give us greater confidence in LT growth durability & EPS power. ADBE reports 3Q results on 9/15 and we expect solid upside."
UBS raised its price target on the stock and said it's bullish on the company's upcoming battery day and expects "significant" announcements.
"Putting the most recent underperformance aside, investor expectations for the battery day on 22 September and TSLA shares have been in a self-reinforcing upwards circle over the past few months. In this note, we outline our expectations for this key catalyst. We (and the market) expect the announcements to be significant, cementing Tesla's cost and technology lead for several more years. We expect a new cell technology (dry electrode design) to be at the core of the event."