Here are Friday's biggest analyst calls of the day: Disney, Chewy, Palantir, Utz & more

Published Fri, Nov 13 20208:07 AM ESTUpdated Fri, Nov 13 20208:51 AM EST

Key Points

Baird upgraded Teladoc to outperform from neutral.
Morgan Stanley downgraded Palantir to equal weight from overweight.
Piper Sandler upgraded Utz to overweight from neutral.
RBC upgraded Disney to outperform from sector perform.
Bernstein downgraded Dow to market perform from outperform.
Piper Sandler initiated Chewy as overweight.
New Street upgraded Cisco to buy from hold.

(This story is for CNBC PRO subscribers only.) Here are the biggest calls on Wall Street on Friday: Baird upgraded Teladoc to outperform from neutral Baird upgraded the digital telemedicine company and said it sees an "attractive" entry point for shares of Teladoc. "While positive vaccine news may weigh on sentiment in the near term, ongoing COVID spikes could sustain higher utilization through 1H21. Additionally, our recent checks suggest there is strong interest for Virtual Primary Care offerings, which could be an underappreciated longterm growth driver. Morgan Stanley downgraded Palantir to equal weight from overweight Morgan Stanley downgraded the data analytics technology company and said Palantir's share price "balances" the risk/reward. "Acceleration in commercial revenue growth, solid new government wins and adjusted op margins hitting 25%highlighted a solid first quarter out of the gate. However, a 50%+ spike in the stock price over the past three weeks balances the risk/reward and pushes us to EW, despite our PT moving to $15. Piper Sandler upgraded Utz to overweight from neutral Piper upgraded the food snack company and said it sees a "long runway" of upside. "We believe Utz has an attractive portfolio as it is focused in salty snacks, a category that has had 4-5% average growth over the past three years. We believe its announced acquisition of On The Border (OTB) adds scale in tortilla chips, filling a void in its portfolio." RBC upgraded Disney to outperform from sector perform RBC upgraded the stock after its strong earnings report on Thursday and said it sees multiple catalysts ahead including a coronavirus vaccine and an "unabated secular growth story" across streaming. The firm also raised its price target on the stock to a Street high of $170 from $124. " Disney offers investors unique exposure to a recovery play that is supported by a combination of a compelling COVID-hedge with its unabated secular growth story across streaming and attractive underlying businesses like Parks, Consumer Products, and the Studio (i.e., cyclical exposure with premium assets vs. potential value traps elsewhere." Bernstein downgraded Dow to market perform from outperform Bernstein downgraded the chemical company and said its thesis has "largely played out" and that it reached the "end of the COVID demand boost." "In May, we argued that the polyethylene names will benefit from the supply/demand dislocation caused by increased demand from COVID-related food/medical packaging and decreased supply from plant shutdowns. Since the publication of our note, DOW has appreciated +43% and LYB + 30%. With PE pricing stalled out, however, we believe we have reached the end of the COVID demand boost." Piper Sandler initiated Chewy as overweight Piper said in its initiation of Chewy that it sees the "potential" for a "strong" 2021 as customers keep returning to the online pet food company. "We see the long-term growth outlook as highly attractive given CHWY 's singular focus on a large industry that is increasingly moving online, combined with an attractive profile of long-term margin drivers. While revenue growth has accelerated in 2020 with a step-up in pet adoptions amidst COVID, we see potential for an abnormally strong 2021 given a highly attractive increase in customer spend during their 2nd year with CHWY." New Street upgraded Cisco to buy from hold New Street upgraded the company after its earnings report and said Cisco's fundamentals remain "strong." " Cisco is 'legacy IT', but evolving steadily towards software and cloud-based services. Software & services now represent 51% of revenues, and software subscriptions continue to increase in the mix. In a cloud-centric world, Cisco still has a strong and sustainable right to make money."

Chewy CEO Sumit Singh (C) rings the opening bell to commence the day's trading for the Chewy Inc. IPO at the New York Stock Exchange (NYSE), June 14, 2019.

Andrew Kelly | Reuters

(This story is for CNBC PRO subscribers only.)

Here are the biggest calls on Wall Street on Friday: