- Berenberg initiated Bristol-Myers as buy.
- Argus upgraded Darden to buy from hold.
- Cowen upgraded RH to outperform from market perform.
- BMO upgraded Hershey to outperform from market perform.
- Bank of America upgraded Extended Stay to buy from neutral.
- MoffettNathanson raised its price target on Alphabet to $1,850 from $1,650.
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Here are the biggest calls on Wall Street on Tuesday:
Berenberg initiated the pharmaceutical company as buy and said it's bullish on the company's pipeline and said Bristol Myers valuation is "attractive."
"We forecast growth in line with peers. With its pipeline upside and reinvention potential, the current significant valuation discount is undeserved. Our enterprise value/net present value valuation which encompasses the longer-term erosion profile indicates valuation is attractive."
Argus upgraded the restaurant hospitality company and owner of brands like Olive Garden and said it thinks the company has "turned the corner" and is benefiting from dining rooms re-opening and expanded takeout options.
"Management expects further progress in the second quarter, with the comp decline moderating to 18%, EBITDA of $200-$215 million, and EPS of $0.65-$0.75. We think this guidance is achievable as the company has now reopened more than 90% of its restaurant dining rooms (albeit at limited capacity), and continues to benefit from efforts to expand takeout and delivery orders and simplify its menu. We also expect Darden to continue its record of positive earnings surprises over the past six quarters."