Here are Thursday's biggest analyst calls of the day: Tesla, Citi, Snowflake, Target, Roku & more

Key Points
  • New Street upgraded Tesla to buy from neutral.
  • Cowen initiated DraftKings as market perform.
  • JPMorgan downgraded Citi to neutral from overweight.
  • Atlantic Equities initiated Snowflake as underweight.
  • JPMorgan added PulteGroup to the focus list.
  • Oppenheimer initiated Utz as outperform.
  • Citi opened a positive catalyst watch on Shopify.
  • Needham raised its price target on Roku to $255 from $190.
  • Wedbush added Harley-Davidson to the best ideas list.
  • Deutsche Bank added a catalyst call buy idea on Target.
  • Deutsche Bank added a catalyst call buy idea on Tapestry.
  • Barclays initiated Sprout Social as overweight.
  • Stifel upgraded Medtronic to buy from hold.
  • Deutsche Bank added a catalyst call buy idea on L Brands.
A 'Citi' sign is displayed outside Citigroup Center near Citibank headquarters in Manhattan on December 5, 2012 in New York City.
Mario Tama | Getty Images

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Here are the biggest calls on Wall Street on Thursday:

New Street upgraded Tesla to buy from neutral

New Street said in its upgrade of the company that it sees "several strong catalysts" for the stock and that expectations for next year are "at least 20% too low."

"We have done a ton of work on Tesla in recent weeks, to the point that we felt the need to "re-initiate" on the name. We have given it a fresh look from multiple angles: the addressable market, the competitive landscape and its upcoming evolution, both from incumbents and new entrants, price, cost and margin trajectories for Tesla, quantifying the energy storage opportunity, understanding how the street will value the stock going forward, etc."

Cowen initiated DraftKings as market perform

Cowen initiated the fantasty sports betting operator as market perform mainly on valuation and said there is "little room" for regulatory risks.

"The U.S. online sports betting and iGaming opportunity for DraftKings is sizeable and we acknowledge the company's business model carries structural advantages vs. competitors. However, valuation discounts market share leadership at maturity and leaves little room for operational/regulatory risks."