Here are Wednesday's biggest analyst calls of the day: Apple, GM, Exxon, Twitter & more

Published Wed, Jan 13 20218:22 AM EST

Key Points

Telsey upgraded Five Below to outperform from market perform.
JPMorgan upgraded Exxon to overweight from neutral.
Deutsche Bank added a catalyst call buy idea on 3M.
Roth upgraded Ambarella to buy from neutral.
MKM upgraded Twitter to buy from neutral.
Citi downgraded Palantir to sell from neutral.
Nomura Instinet upgraded General Motors to buy from neutral.
Guggenheim upgraded Home Depot to buy from neutral.
Jefferies upgraded Visa and Mastercard to buy from hold.
Cowen downgraded Boston Beer to market perform from outperform.
Wells Fargo raised its price target on Apple to $155 from $140.
BMO downgraded Albertsons to market perform from outperform.
Wedbush upgraded KB Home to outperform from neutral.

Here are the biggest calls on Wall Street on Wednesday: Telsey upgraded Five Below to outperform from market perform Telsey said in its upgrade of the stock that it had "increased" visibility into the company's multi-year growth trajectory. "Our upgrade thesis is predicated on: 1) the consistency of the business, driven by the value-oriented assortment; 2) the continued benefit from the strong high-teens unit growth rate, with potential upside to the long-term target of 2,500+ stores; 3) the rollout of Five Beyond —above $5 to $15 items—which provides the flexibility to widen the assortment while offering value at higher prices" JPMorgan upgraded Exxon to overweight from neutral JPMorgan upgraded the oil and gas company for the "first time in seven years" citing better execution and said 2021 consesus was "too low." "For the first time in our seven years of covering Integrated Oils since the peak of the sector in 2014, we are upgrading XOM to Overweight. ... . As we sit here today, we think that the bar is materially lower, execution might finally be turning a corner, 2021 consensus is too low, the > 7% dividend yield is more secure and valuation is more reasonable." Read more about this call here . Deutsche Bank added a catalyst call buy idea on 3M Deutsche Bank added a short-term buy idea on 3M but reiterated its hold rating and said the company was well-positioned heading into its fourth quarter earnings report. "We forecast a 2% EPS beat for MMM in 4Q20, driven by sustained strong monthly sales in December (in line with the November release). But more importantly, our 2021 guidance waterfall suggests a range of $9.55-9.85, actually above current consensus of $9.49 - at a time when we think many MI/EE and Machinery companies are likely to guide below consensus." Roth upgraded Ambarella to buy from neutral Roth upgraded the semiconductor design company and said it sees "multi-year" revenue visibility among other things. "We believe AMBA represents a differentiated investment opportunity in computer vision and low power video processors. ... .We have grown confident in the increasing computer vision revenue contribution and strong multi-year revenue funnel visibility, particularly in automotive starting in next few years. MKM upgraded Twitter to buy from neutral MKM said in its upgrade of the social media company that it sees headwinds reversing in 2021 due to ad spending among other things. "During 2020, Twitter experienced several headwinds due to the pandemic, social unrests (BLM protests), voluntary rejection of political ad spend, and internal/ execution issues. During 2021, we expect these headwinds to reverse. As 2021 progresses, we believe Twitter will have the greatest incremental benefit (vs. its social media peers) as brand advertisers accelerate ad spend and live events and product launches resume their normal cadence." Citi downgraded Palantir to sell from neutral Citi downgraded Palantir and said it sees growth "deceleration" heading into the company's lockup expiration. "After a 150+% rise in the stock since the September direct listing, we believe the stock is vulnerable heading into 2021 with the upcoming lockup expiry, and an expected deceleration in growth. Specifically we see risk around the lapping of COVID-19 related contracts, which have the potential to become headwinds in 2H21 into 2022." Nomura Instinet upgraded General Motors to buy from neutral Nomura Instinet said in its upgrade of the auto maker that it was bullish on the company's electric vehicle strategy as well as its tie-up with Honda. "Although electrification is costly, GM' s strategy to 1) extensively restructure its North American (NA) operations (saving ~$4.0bn in annual fixed costs until 3Q20, and improving margins), 2) vertically integrate battery production, and 3) set on a path to form an alliance with Honda to cut procurement and R & D costs – should help GM to absorb the hit from electrification relatively better compared to its US peers." Guggenheim upgraded Home Depot to buy from neutral Guggenheim upgraded the home improvement store and said it it sees "out-year" potential and increased economic tailwinds. "We are upgrading HD shares to BUY with a $310 price target on the back of several recent events, including a) the closing of the acquisition of HD Supply, b) a $3.0 billion debt offering—with a weighted-average interest rate of just 1.7%, and c) the recent moderation in the shares' valuation—which has eroded HD's historical premium." Jefferies upgraded Visa and Mastercard to buy from hold Jefferies said in its upgrade of the two payment company's that are well-positioned in 2021 as "high quality recovery plays." "Rare stretch of underperformance sets up V & MA well for '21 as focus shifts to post-COVID earnings power and the accompanying upward revision cycle. Despite an accelerated shift to digital payments both stocks have lagged the SPX over the last 3 months, 6 months, and 12 months, due to headwinds in high-yielding cross-border vols primarily driven by less int'l travel. Cowen downgraded Boston Beer to market perform from outperform Cowen downgraded the beverage maker due to "intensifying" competition among other things. "While we were bullish on SAM 's relative positioning amid COVID-19, decelerating hard seltzer category growth and an intensifying competitive landscape leave us more cautious on the potential for positive earnings revisions." Wells Fargo raised its price target on Apple to $155 from $140 Wells Fargo raised its price target on the stock after recent "positive" smartphone data surrounding the iPhone 12 cycle. "With continued positive Apple data points leaving us increasing comfortable on upside vs. current expectations, coupled with continued strong capital allocation story, we're adjusting our price target to $155 from $140." BMO downgraded Albertsons to market perform from outperform BMO downgraded the grocery store company mainly on valuation. "While we continue to remain positive on ACI 's retro strategy and execution, the company's valuation gap has closed relative to Kroger and we see no reason to raise our target price today and would caution against overextrapolating COVID-19 induced at-home eating trends, which our forecasts already assume as modest tailwinds." Wedbush upgraded KB Home to outperform from neutral Wedbush upgraded the homebuilder due to "community growth and rising demand." "KB raised prices at 90% of communities during the quarter, and the sales mix increased to 61% first time buyers from 53% in F4Q19. Also, KB raised their unit starts approximately 40% in F4Q20 to keep pace with the level of incoming orders."

General Motors Chairman & CEO Mary Barra (L) and President of General Motors China Matt Tsien attend a press conference in Shanghai, China September 15, 2017.

Here are the biggest calls on Wall Street on Wednesday: