Here are Monday's biggest analyst calls of the day: Amazon, Netflix, Credit Suisse, Tesla & more

Published Mon, Mar 29 20218:29 AM EDTUpdated Mon, Mar 29 20218:59 AM EDT

Key Points

Truist upgraded Twitter to buy from hold.
Morgan Stanley upgraded Johnson Controls to overweight from equal weight.
Deutsche Bank raised its price target on Facebook to $385 from $355.
Guggenheim reiterated its buy rating on Netflix.
Deutsche Bank initiated Cracker Barrel as buy.
JPMorgan added Amazon as a top pick.
Goldman Sachs reiterated its buy rating on Micron.
Jefferies lowered its price target on Tesla to $700 from $775.
BMO upgraded ViacomCBS to market perform from underperform.
Bank of America downgraded Credit Suisse to neutral from buy.
JPMorgan downgraded Nomura Holdings to underweight from neutral.
Wells Fargo reiterated Home Depot and Lowe's as top picks.

Here are the biggest calls on Wall Street on Monday: Truist upgraded Twitter to buy from hold Truist said in its upgrade of Twitter that it saw double-digit growth and a "compelling" buying opportunity. "We view the recent ~22% stock pullback (as of 3/26 close, from its intra-day all-time high of ~$78 on 3/1, vs. the S & P500 up 3.1% over the same time frame) as a compelling buying opportunity. We're raised our estimates and our price target to $74 from $64, previously." Morgan Stanley upgraded Johnson Controls to overweight from equal weight Morgan Stanley said in its upgrade of Johnson Controls that the multinational conglomerate would be a key beneficiary of commercial buildings upgrades in the wake of the coronavirus. "We see upgrade supercycle for commercial buildings to improve energy efficiency driven by short paybacks, sustainability efforts, and legislation. We believe the market is underestimating how much retrofits can accelerate growth for the foreseeable future." Deutsche Bank raised its price target on Facebook to $385 from $355 Deutsche Bank raised its price target on the stock to a Street high and said it was bullish on advertising opportunities for the social media giant. "We increase our 1Q and 2021 estimates for Facebook reflecting more confidence on the back of positive feedback from the ad community, multiple encouraging data sets on ad prices and spending trends, delays to Apple iOS privacy changes and positive recent commentary from FB's CEO." Guggenheim reiterated its buy rating on Netflix Guggenheim reiterated its buy rating on shares of Netflix and said the company was making strategic investments in "key markets." "Netflix continues to strengthen its value proposition for both content creators and consumers by deepening local investments in key markets. We believe that the company's investments will remain directed toward the global sourcing, development, and distribution of content, rather than non-core areas including advertising expansion or off-platform sales." Deutsche Bank initiated Cracker Barrel as buy Deutsche Bank said in its initiation of the restaurant chain that it sees more upside in the stock. "The crux of the call is essentially that one can apply 'realistic but not aggressive' accumulated unit value and margin recovery assumptions, and still get to relatively attractive upside from here in a base case, which is harder to do at this point with many of CBRL's peers in Casual Dining." JPMorgan named Amazon as a top pick JPMorgan added Amazon to the analyst's top picks list and said the company continues to be well-positioned as the "leader" in e-commerce and cloud. "We believe Amazon's flexibility in pushing first-party vs. third-party inventory and its Prime offering both serve as major advantages in its retail business, and its multi-year head start in the cloud has led to a 40%+ Amazon Web Services (AWS) global market share. Amazon is also showing increased profitability, with its high-growth AWS and Advertising revenue streams also its most profitable." Goldman Sachs reiterated its buy rating on Micron Goldman reiterated its buy rating on Micron ahead of the company's earnings report Wednesday and said it sees "positive" earnings per share revisions. "Bottom line, we remain bullish on the stock, and see healthy supply/demand dynamics coupled with a re-acceleration in cost downs driving positive revisions to Street consensus, and ultimately stock price outperformance." Jefferies lowered its price target on Tesla to $700 from $775 Jefferies lowered its price target on the stock and said Tesla is "no longer unique" as an electric vehicle play. "Volatility, bitcoin and tweets brought noise but little fundamental change since we downgraded Tesla last December. Legacy-free 30-50% net growth and two-digit margin potential still support high multiples but Tesla is no longer unique as an EV play with preferred access to capital." BMO upgraded ViacomCBS to market perform from underperform BMO said in its upgrade of ViacomCBS that it could get more constructive on the stock once the trading volatility subsides. "We think it could make sense to get more proactive if the stock remains under pressure and heads below our $35 fundamental downside scenario. While that scenario incorporates downward estimate revisions, we think those are increasingly priced in at these levels; same goes for our prior Underperform catalysts such as limited streaming subscriber/monthly active users upside and third party licensing revenue declines." Bank of America downgraded Credit Suisse to neutral from buy Bank of America downgraded Credit Suisse after it said the banking giant was exposed to a U.S. hedge fund defaulting on its margin calls. "After the series of issues the group has faced in recent months, across Greensill, mortgage backed securities litigation and a hedge fund write-down, we believe its capital cushion has likely been reduced to the point where its buyback is directly affected." JPMorgan downgraded Nomura Holdings to underweight from neutral JPMorgan downgraded the financial holding company after it said it saw significant losses after a U.S. hedge fund defaulted on its margin calls last week. "Nomura Holdings issued a press release today stating that is may not be able to recover some of a claim of around $2.0 billion from a US client. While the losses on this transaction may be one-off, we think it will be impossible to avoid a negative impact on earnings and shareholder returns from FY2020 onwards." Wells Fargo reiterated Home Depot and Lowe's as top picks Wells Fargo reiterated Home Depot and Lowe's as top picks and said it was time to get more "aggressive" in hardlines, which include appliances. "Despite strong 2H20 results, a fresh round of stimulus, and COVID-driven structural tailwinds, hardline retail shares have been volatile, and considering recent market dynamics (reopening vs stay at home, stimulus, etc.), we see opportunities emerging across our coverage universe. ... .Putting all the pieces together, we think now is the time to get more aggressive in Hardlines."

Source: Cracker Barrel

Here are the biggest calls on Wall Street on Monday: