Here are Wednesday's biggest analyst calls of the day: Dave & Buster's, CrowdStrike, Yelp & more

Published Wed, Nov 11 20207:59 AM ESTUpdated Wed, Nov 11 20208:08 AM EST

Key Points

JPMorgan downgraded Occidental Petroleum to underweight from neutral.
Evercore ISI upgraded Yelp to outperform from in line.
Baird upgraded CrowdStrike to outperform from neutral.
Cowen upgraded Tapestry to outperform from market perform.
Longbow downgraded Dave & Buster's to neutral from buy.
Susquehanna upgraded D.R. Horton to positive from neutral.
Bank of America downgraded Pentair to underperform from buy.
Deutsche Bank upgraded Charles Schwab to buy from hold.

(This story is for CNBC PRO subscribers only.) Here are the biggest calls on Wall Street on Wednesday: JPMorgan downgraded Occidental Petroleum to underweight from neutral JPMorgan downgraded the hydrocarbon exploration company and said it thinks there are other ways to play the coronavirus "recovery trade" and that higher oil prices present a threat to Occidental. "However, we think that there are other stocks with enough oil beta and less debt that provide similar exposure to a COVID-19 recovery trade in 2021. The main risk to our thesis seems to be higher oil prices, though we think prices would have to be > $60/bbl Brent to matter." Evercore ISI upgraded Yelp to outperform from in line Evercore upgraded the online review site and said it thinks the stock can "recover faster" than the broader travel industry. " YELP is yet to reflect a complete return to pre-COVID 22 levels, with the stock still down ~30%. However, similar to travel, we'd expect Yelp's revenue recovery to track the proliferation of vaccines. With YELP down only ~15% coming out of the 3Q, there is good reason to believe that it can recover faster than the broader travel industry." Baird upgraded CrowdStrike to outperform from neutral Baird upgraded the cybersecurity company and said it sees a "strong" fundamental opportunity. "We are using the volatility we've seen early this week to upgrade CrowdStrike to Outperform given our belief in the company's strong fundamental opportunity, its favorable competitive positioning, and management's ability to execute." Cowen upgraded Tapestry to outperform from market perform Cowen upgraded the luxury fashion company and owners of Kate Spade and Coach and said it sees "accelerating execution." "We rate TPR Outperform given: (1) prospects for EPS growth on average unit retail and gross margin increases at Coach adn Kate Spade, (2) Coach Outlet strength driving new customer acquisition, especially value-oriented younger customers, and (3) further growth prospects from higher e-comm penetration and China penetration." Longbow downgraded Dave & Buster's to neutral from buy Longbow downgraded the arcade and family entertainment company mainly on valuation. "The shares surged by approximately 35% this week following promising news related to successful trials of a COVID-19 vaccine. On one hand, this news is likely more encouraging for Dave & Buster's than any other concept within the publicly-traded restaurant sector given PLAY's leading exposure to large group settings." Susquehanna upgraded D.R. Horton to positive from neutral Susquehanna upgraded the home builder after its strong earnings report and said it sees the company's "strength" continuing in 2021. " DHI appears to be in a unique position within the industry to be able to both grow faster and see expanding profit margins. The company reported a blowout quarter in terms of order growth, and not only did gross margin beat expectations materially, that strength is expected to continue into FY21." Bank of America downgraded Pentair to underperform from buy Bank of America double downgraded the water treatment and pool company and said the coronavirus "pool play" was short-term. " Pentair has benefited from very strong pool demand this year due to stay-at-home trends. However, we view the 'COVID pool play' as merely short-term. We believe Pentair valuation is rich, and the stock price is approaching our $58 price objective." Deutsche Bank upgraded Charles Schwab to buy from hold Deutsche upgraded the financial services company and said it sees "solid growth" among other things. "The upgrades are primarily driven by more conviction around a gradual steepening of the yield curve & higher equity markets, as well as cheap valuations for the trust banks and solid growth and merger integration fundamentals for SCHW ."

Jeremy Stoppelman, chief executive officer of Yelp Inc., center, rings the opening bell with Chief Operating Officer Geoff Donaker, second left, and Chief Financial Officer Rob Krolik, right, at the New York Stock Exchange (NYSE) in New York, U.S., on Friday, March 2, 2012.

(This story is for CNBC PRO subscribers only.)

Here are the biggest calls on Wall Street on Wednesday: