Here are Tuesday's biggest analyst calls of the day: Constellation Brands, Alphabet, Skechers & more

Published Tue, Nov 3 20208:09 AM EST

Key Points

Morgan Stanley upgraded Constellation Brands to overweight from equal weight.
Susquehanna downgraded Skechers to neutral from positive.
Morgan Stanley upgraded Monster Beverage to overweight from equal weight.
Cowen upgraded Royal Dutch Shell to outperform from market perform.
Citi raised its price target on Alphabet to $2,000 from $1,600.

(This story is for CNBC PRO subscribers only.) Here are the biggest calls on Wall Street on Tuesday: Morgan Stanley upgraded Constellation Brands to overweight from equal weight Morgan Stanley upgraded the beer, wine, and spirits maker and said it saw "compelling valuation" and that markets concerns were "overdone." "We are upgrading STZ to OW with attractive valuation post significant stock underperformance, and ahead of an expected beer topline acceleration in fiscal 2H21. ... .Longer-term, ex-COVID,, we see higher growth in beverages, driven by structurally superior pricing dynamics with greater channel diversity in beverages, higher immediate consumption, lower private label penetration, and a more concentrated market share position" Susquehanna downgraded Skechers to neutral from positive Susquehanna said in its downgrade of the footwear company that the company's outlook was not as strong as the firm expected despite beating third quarter earnings per share. "Despite beating 3Q20 EPS and revenue expectations, the outlook is not as robust as expected. Inventory levels are elevated, and general & administrative dollar spend appears high. ... . Historically, SKX 's investments in the future that look aggressive today often prove worthwhile tomorrow, but tomorrow's more than a day away." Morgan Stanley upgraded Monster Beverage to overweight from equal weight Morgan Stanley upgraded the beverage maker and said it sees "upside" potential and ""strong" international topline momentum. "We are upgrading MNST to Overweight as we forecast a reacceleration in US topline trends, which coupled with strong international growth, should drive revenue/EPS upside vs. consensus, and multiple expansion off levels that are below MNST' s historical relative averages vs. peers. ... .In addition to rebounding US topline growth, we have confidence in near-term international topline momentum based on recent strength in reported results." Cowen upgraded Royal Dutch Shell to outperform from market perform Cowen said in its upgrade of the multinational oil and gas company that it sees shareholder returns accelerating by 2022. " RDS 's recent earnings update introduced lower capex guidance from refocusing its Upstream portfolio, setting a trajectory to materially improve FCF with potential acceleration of shareholder returns by early '22. RDS has peer-leading leverage to int'l gas that will serve as an offset during a period of commodity volatility." Citi raised its price target on Alphabet to $2,000 from $1,600 Citi raised its price target on Alphabet after its earnings report last week and said it expects the company's Cloud and Search businesses to become tailwinds after the coronavirus passes and business scales. "The travel sector has been a headwind amid the pandemic, which we expect will be a tailwind for Search as the market recovers. Management will disclose Cloud operating margins starting with 4Q results. We believe Cloud is currently a headwind to margins, due to ongoing growth investments, but expect the segment to be a meaningful driver of operating leverage as the business scales." Subscribe to CNBC PRO for access to the livestream of CNBC's continuous election and business news coverage.

Monster Energy drinks

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(This story is for CNBC PRO subscribers only.)

Here are the biggest calls on Wall Street on Tuesday: