Here are Friday's biggest analyst calls of the day: Tesla, Costco, Chipotle, Netflix & more

Published Fri, Oct 16 20208:06 AM EDTUpdated Fri, Oct 16 20208:15 AM EDT

Key Points

Jefferies upgraded Chewy to buy from hold.
JPMorgan downgraded Clorox to neutral from overweight.
Wells Fargo upgraded Caterpillar to overweight from equal weight.
Jefferies upgraded Costco to buy from hold.
Morgan Stanley raised its price target on Tesla to $333 from $272.
Bank of America raised its price target on Netflix to $670 from $575.
Credit Suisse raised its price target on Chipotle to $1,500 from $1,250.
Evercore ISI resumed T-Mobile as outperform.
R5 Capital upgraded Campbell Soup to buy from hold.
Jefferies downgraded Wynn to hold from buy.

(This story is for CNBC PRO subscribers only.) Here are the biggest calls on Wall Street on Friday: Jefferies upgraded Chewy to buy from hold Jefferies upgraded the online pet retailer after a change in analyst coverage and said the company's "moat is widening" and that it has "several levers to hedge growth." "The rollout of subscribe & save models by large scaled retailers has not threatened CHWY's growth to the degree expected, which we see as evidence the moat more defensible than previously perceived. In our survey, 37% of pet owners cited Chewy.com is their #1 e-com platform for food & supplies - steady vs. prior surveys." JPMorgan downgraded Clorox to neutral from overweight JPMorgan downgraded the cleaning products company mainly on valuation and said it expects the benefit of the coronavirus to eventually pass. "As this quarter will likely mark the 'peak' for many, we think the 'as good as it gets; narrative will likely prevail in home and personal care. To that end, while Clorox and Kimberly Clark deserved their outperformance, further multiple re-rating will be harder given the lap of the COVID-19 benefit ahead. " Wells Fargo upgraded Caterpillar to overweight from equal weight Wells Fargo said in its upgrade of Caterpillar that it thinks revenue growth will begin to accelerate in key markets in 2021. "We are increasing our outlook and expect earnings to substantially improve beginning in 2021 due to anticipated (1) revenue growth from global growth acceleration with signs that key markets critical to existing bear case are beginning to bottom with likely growth by mid-2021 and absence of 2020 inventory reduction actions, (2) expected margin improvement due to higher revenue generation across improved cost structure." Jefferies upgraded Costco to buy from hold Jefferies upgraded Costco after a change in analyst coverage and said that it was the "dominant" leader in the club warehouse sector and that its "digital underdevelopment" offers upside. "Our thesis is anchored in superior channel dynamics & an extended period of elevated MSD+ comp sales & new customer acq potential, justifying a premium multiple. We are constructive on club retail as an outsized growth channel, COST is the dominant leader, and digital underdevelopment offers a level of inherent upside optionality." Morgan Stanley raised its price target on Tesla to $333 from $272 Morgan Stanley raised its price target on the stock and said Tesla was in a "better position" that it expected to deploy its ride-hail/transportation business. "Based on recent management comments on the continuous improvement in autopilot and increased telematics capability, we believe that the company is in a better position to deploy its ride-hail/transportation as a service business (TaaS) faster and more profitably than our previous forecast." Bank of America raised its price target on Netflix to $670 from $575 Bank of America raised its price target on the stock ahead of the company's earnings report next week and said despite some "concerns" the long-term story is "stronger than ever." "Despite NT uncertainties around 2H'20 subscriber growth we continue to see the acceleration in Netflix subscriber penetration in 1H as a permanent benefit. We believe 2Q commentary for steady state FCF margins about the 15% level seen in 2Q underscores the LT bull thesis for Netflix and believe investors should view potential valuation volatility driven by NT subscriber trends as a particularly attractive opportunity." Credit Suisse raised its price target on Chipotle to $1,500 from $1,250 Credit Suisse raised its price target on the stock ahead of the company's third-quarter earnings report and said it was was one of the best positioned restaurant chains digitally. "Chipotle is well suited for digital given its younger and more affluent consumer base, on-trend positioning, food that travels well and transportable packaging. We view Chipotle as better positioned than nearly every other large restaurant chain to capitalize on digital. " Evercore ISI resumed T-Mobile as outperform Evercore ISI resumed coverage of the cellular company and said it was the "only" growth story in wireless. " TMUS 's network performance is benefiting from deploying the company's 600MHz holdings and the 2.5GHz it acquired along with Sprint; new TMUS has a clear spectrum lead, particularly on a per-sub basis. TMUS is also positioned to benefit from having the most widely available 5G coverage." R5 Capital upgraded Campbell Soup to buy from hold R5 Capital said in its upgrade of the food company that it sees several positive catalysts ahead including "innovation" and a push by Campbell' s to bring new products to market. "We see several positive drivers that we believe are being underestimated by investors. First, new management has worked hard to improve efficiencies. The company yielded $165 million in cost savings in FY20 and expects an additional $75-$85 million in FY21. Much of this is due to synergies associated with the Snyder's acquisition. Second, there is a renewed push behind innovation and bringing new products to market." Jefferies downgraded Wynn Resorts to hold from buy Jefferies downgraded the casino and resort company and said leverage "remains pressured" through 2022. "The positive performance in regional markets and low visibility in Las Vegas are likely well understood, as is the digital gaming overlay. The most important change is in Macau, where we now expect a more protracted rebound and which results in our downgrade of WYNN to Hold from Buy, as leverage remains pressured through 2022."

Colorox brand toilet bowl cleaner sits on display at a supermarket in Princeton, Ill.

Daniel Acker | Bloomberg | Getty Images

(This story is for CNBC PRO subscribers only.)

Here are the biggest calls on Wall Street on Friday: