Here are Wednesday's biggest analyst calls of the day: Penn, Zynga, Starbucks, Goldman & more

Key Points
  • Stifel upgraded Hasbro to buy from hold.
  • JPMorgan upgraded Extended Stay to overweight from equal weight.
  • Atlantic Equities initiated Thermo Fisher as overweight.
  • Berenberg initiated World Wrestling as buy.
  • Rosenblatt raised its price target on Penn to $90 from $80.
  • JPMorgan added L Brands to the focus list.
  • MKM initiated Zynga as buy.
  • Bank of America reinstated coverage of Lululemon as buy.
  • Cowen upgraded Starbucks to outperform from market perform.
  • Cowen upgraded Canada Goose to outperform from market perform.
  • Wedbush upgraded Shopify to outperform from neutral.
  • Longbow upgraded Polaris to buy from neutral.
  • Bank of America added Goldman Sachs to the US 1 list.
A Starbucks employee wipes the protective screen as the coffe shop chain operates take away service in Battersea, south-west London on 21 May, 2020 in London, England.
Wiktor Szymanowicz | NurPhoto | Getty Images

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Here are the biggest calls on Wall Street on Wednesday:

Stifel upgraded Hasbro to buy from hold

Stifel upgraded the toymaker and said it now sees a path to "improving fundamentals."

"While HAS has at least partially recovered from its mid-March lows, the shares are still off by 30%+ trailing twelve months which we would attribute to several factors, namely limited enthusiasm around last year's eOne acquisition. However, we see an event path to improving fundamentals ,and hence higher share prices over the near/intermediate-term. This entails growing optimism for upside to 2H20 results, fueled by solid demand during the seasonally important holiday selling season."

JPMorgan upgraded Extended Stay to overweight from equal weight

JPMorgan upgraded the hotel chain and said it likes the risk/reward a more consumers return to travel after the coronavirus.

"We sense apathetic investor sentiment toward STAY given a perception that it was the sector outperformer earlier, but now the other, more beaten-up lodging names (either from a stock perspective or on an operating fundamentals basis) likely will outperform post COVID-19 vaccine (whether that is in late 2020/early 2021). "