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Here are the biggest calls on Wall Street on Friday:
Raymond James upgraded the stock after shares fell yesterday due to reports of a bankruptcy risk. The firm said the selloff was "overdone."
"We are upgrading shares of PLAY to Outperform (from Market Perform) as we believe the stock's 26% decline yesterday (in response to media reports highlighting bankruptcy risk) seems overdone and creates an attractive risk/reward. As detailed in its 2Q earnings release last week sales are recovering in re-opened units, weekly cash burn rate has improved to $2.5M-3.0M (including full rent and interest expense), and available cash is ~$190M."
Citi initiated the food snack company as buy and said it was poised to gain market share in the salty snack category.
"Utz is underpenetrated relative to its competitors. We believe UTZ will continue to narrow this gap of shelf-space presence over time, both through a focus on increasing organic sales (through more new products, more marketing and more distribution) as well as by acquiring complementary brands."