Here are Friday's biggest analyst calls of the day: Boeing, DraftKings, Nio, Ford & more

Published Fri, Jan 29 20218:13 AM ESTUpdated Fri, Jan 29 20218:48 AM EST

Key Points

Morgan Stanley raised its price target on Nio to $80 from $33.
Evercore ISI upgraded Western Digital to outperform from in line.
Morgan Stanley upgraded Boeing to overweight from underweight.
Loop named DraftKings a top pick in 2021.
Baird downgraded Stitch Fix to neutral from outperform.
BTIG upgraded PulteGroup to buy from neutral.
Baird upgraded Capri Holdings to outperform from neutral.
Morgan Stanley downgraded Ford to underweight from equal weight.

Here are the biggest calls on Wall Street on Friday: Morgan Stanley raised its price target on Nio to $80 from $33 Morgan Stanley raised its price target on Nio and said it sees the China electric vehicle company's gaining market share. "We believe the wealth created by EV/ autonomous driving may surpass prior replacement cycles, driven by a broadening user base and enriched industry value content. The pace of the reshuffle is also accelerating, as seen among the EV and autonomous driving startups in 2020." Evercore ISI upgraded Western Digital to outperform from inline Evercore said in its upgrade of the hard drive drive manufacturer and data storage company that it sees "meaningful upside." "We have rated Western Digital In Line or Underperform since September 2018 – shares are -9% since then in absolute terms and have underperformed the SOX by 58%. Obviously we would have loved to call the actual August 2020 bottom but we think there is still meaningful upside ahead. To this end, we are raising our rating to Outperform and increasing our price target to $80 from $52 – suggesting ~40% upside vs. after-market trading at ~$57." Morgan Stanley upgraded Boeing to overweight from underweight Morgan Stanley said in its double upgrade of the aerospace company that it was a "recovery play with upside." "We were cautious on our outlook as consensus was too optimistic on new aircraft demand and we saw higher cancellation risks. As Boeing production rates and consensus estimates have now come down and a kitchen sink 4Q clears the runway for 2021, we view Boeing as a COVID-19 recovery play with upside." Loop named DraftKings a top pick in 2021 Loop named the fantasy sports betting company as a top pick in 2021 and said it was a "key beneficiary of the rapidly growing domestic online gaming industry." "As we look ahead to the remainder of 2021, we believe stocks that are most levered to the following key themes will outperform: for Gaming operators, online sports betting and a potential V-shaped recovery in Vegas; and asset and tenant diversification for the Gaming REITs. Within our Gaming coverage, the names most exposed to these themes, and consequently our top picks for the remainder of the year are: DKNG, CZR and VICI." Baird downgraded Stitch Fix to neutral from outperform Baird downgraded the online personal styling service and said it sees a more "balanced" risk/reward. "We remain bullish on the Stitch Fix business model and its ability to capture market share and deliver stronger margins over time. Recent developments (return to +DD% revenue growth, record client adds, new CFO from Amazon) support our view. However, a surge in shares, which we attribute partly to fundamental factors and partly due to a significant short squeeze, result in balanced risk/reward in the near term." BTIG upgraded PulteGroup to buy from neutral BTIG upgraded the homebuilder after its "strong" earnings results and said it sees more upside. "We are raising our rating on PHM to Buy and establishing a $56 PT following strong 4Q20 results and a solid 2021 guide. We expect PHM to produce 23% revenue and EPS growth in 2021, representing efficient conversion of its current $6.8B backlog relative to many peers." Baird upgraded Capri Holdings to outperform from neutral Baird upgraded the multinational fashion company and owner of brands like Michael Kors and said it was well positioned to "capitalize" in a multi-year recovery. "Following a period of brand/ channel resets and subsequent sharp revenue declines during the pandemic, we believe Capri Holdings is positioned to capitalize on: 1) a multi-year recovery in global fashion & luxury demand (including robust growth in China), 2) a leaner cost structure and inventory levels, and 3) a more disciplined growth strategy at Michael Kors." Morgan Stanley downgraded Ford to underweight from equal weight Morgan Stanley downgraded the auto maker and said it was more bullish on General Motors electric vehicle "opportunity" than Ford's. "We believe that the market may be ascribing zero (or even negative?) value for ICE-derived revenues at GM and Ford while undervaluing the EV opportunity. Both have a shot, but GM has greater SOTP potential, in our view."

The Boeing Airplanes factory where several models of its commercial aircraft, including the 787 Dreamliner, are produced is pictured on September 30, 2020 in Everett, Washington.

Stephen Brashear | Getty Images

Here are the biggest calls on Wall Street on Friday: