Here are Friday's biggest analyst calls of the day: Nikola, Penn, Occidental, DraftKings & more

Published Fri, Nov 20 20208:01 AM EST

Key Points

Susquehanna upgraded Occidental Petroleum to positive from neutral.
Barclays downgraded FireEye to equal weight from overweight.
Loop initiated Nikola as buy.
Piper Sandler initiated DraftKings and Penn as overweight.
BTIG upgraded Capri to buy from neutral.
Wedbush downgraded Shake Shack to neutral from outperform.

(This story is for CNBC PRO subscribers only.) Here are the biggest calls on Wall Street on Friday: Susquehanna upgraded Occidental Petroleum to positive from neutral Susquehanna upgraded the hydrocarbon exploration company and said it sees the vaccine as positive for Occidental as as well as a recovery in oil prices. "We are upgrading Occidental to Positive as we are increasingly confident in our base case of a recovery in oil prices to near ~$50/bbl by YE21 into 2022 on the back of improving macro data points and recent positive vaccine news." Barclays downgraded FireEye to equal weight from overweight Barclays downgraded the cybersecurity company and said it saw growing competition among other things for FireEye. "Platform will continue to drive acceleration in growth; but we think also broadens the competitive landscape. Platform will likely drive accelerating growth in FY21 ARR which we model.But the bigger pieces of this business are selling in competitive markets like security, information and event management endpoint and email, where there are well-established incumbents. It has done well, but we worry it opens up more competition in the long run." Loop initiated Nikola as buy Loop initiated the hybrid truck company as buy and said it sees a "balanced" risk/reward. "While we agree with critics that management may have over-hyped its capabilities following its public markets debut, we are also of the view that Nikola possesses intellectual property that is attractive to a number of partners, and that its vehicles will begin to hit the road with these partners over the next two years. Management continues to make progress on its key milestones." Piper Sandler initiated DraftKings and Penn National Gaming as overweight Piper said in its initiation of DraftKings and Penn that it saw numerous tailwinds for the industry and a potential $40 billion market. "The sector has numerous tailwinds, including legislative, demographic and technological. We see the TAM growing from ~$3B to > $18B and potentially > $40B. We are launching on Penn National Gaming and DraftKings with OW ratings and PTs of $84 and $58, respectively. Currently, 25 states and Washington D.C., have legalized Sports Betting, but only 15 and D.C. have authorized online/mobile functionality." BTIG upgraded Capri to buy from neutral BTIG upgraded the multinational fashion holding company and owner of the Michael Kors brand and said it sees the stock as a "solid" coronavirus recovery play. "Despite a ~30% move in the stock since its blowout FQ2 report on Nov. 5th, we see significant equity value that is dramatically underappreciated, from both an earnings recovery and valuation perspective. While CPRI clearly represents a solid COVID recovery play into next year as vaccines come to market and consumers gain more comfort/confidence in going out, we see three fundamental factors that make the risk/ reward highly attractive." Wedbush downgraded Shake Shack to neutral from outperform Wedbush downgraded the burger chain company and said it was "tough" to justify the stock's higher valuation. "We continue to believe SHAK's long-term domestic company unit target of 450 is conservative, and the opportunity is > 700. Nevertheless, we believe SHAK 's current valuation now reflects the higher opportunity, and therefore, downgrade shares to NEUTRAL from OUTPERFORM."

DraftKings CEO and Co-Founder Jason Robins speaks during the unveiling of DraftKings headquarters March 26, 2019 in Boston, Massachusetts.

Darren McCollester | Getty Images

(This story is for CNBC PRO subscribers only.)

Here are the biggest calls on Wall Street on Friday: