Here are Wednesday's biggest analyst calls of the day: Square, Target, Apple, Harley-Davidson & more

Published Wed, Mar 31 20218:21 AM EDTUpdated Wed, Mar 31 20219:46 AM EDT

Key Points

UBS upgraded Apple to buy from neutral.
Bernstein initiated Lam Research and Applied Materials as outperform.
Baird upgraded Harley- Davidson to outperform from neutral.
KBW upgraded Square to outperform from market perform.
Citi initiated LivePerson as buy.
Guggenheim reiterated its buy rating on Target.
Seaport downgraded CarMax to neutral from buy.
Barclays upgraded Textron to overweight from equal weight.
Stifel initiated Shopify as buy.

Here are the biggest calls on Wall Street on Wednesday: UBS upgraded Apple to buy from neutral UBS said in its upgrade of the tech giant that Apple's entry in to the auto market is not yet priced in to shares. "We upgrade Apple to Buy and raise our price target to $142 from $115 to reflect a more stable long-term iPhone demand backdrop with better average selling prices and to capture the 'real' option value of Apple's likely entry into the auto market that we believe is not reflected in Apple shares." Read more about this call here. Bernstein initiated Lam Research and Applied Materials as outperform Bernstein initiated several semiconductor company stocks and said it saw a "positive long-term structural stance." "We are initiating coverage on Lam Research and Applied Materials both at Outperform. ... .Whereas semiconductors are difficult to forecast, semicap has historically tended to be at the end of the bullwhip, with the rapid expansion/deflation seen in past years in semiconductors magnified into wild cyclical swings in the equipment space." Baird upgraded Harley- Davidson to outperform from neutral Baird said in its upgrade of Harley- Davidson that it sees an attractive entry point. "We see the potential for retail to turn positive in 2021 for the first time since 2014 – and note that lean dealer inventory should fuel a healthy replenishment cycle. Separately, our dealer checks point to strengthening retail demand and severe inventory shortages.' KBW upgraded Square to outperform from market perform KBW said in its upgrade of the mobile payment app company that it was a "long-term winner." "While we might not be catching the bottom of the growth to value trade, we believe Square is a long-term winner within the underserved market with its two large and successful ecosystems along within incremental investments/initiatives such as Tidal, Credit Karma Tax division, and Square Financial Services that can help increase engagement and drive incremental growth." Citi initiated LivePerson as buy Citi said in its initiation of the conversational commerce and artificial intelligence company that top-line acceleration finally "appears sustainable." "LivePerson is several years into a strategy shift that acknowledges asynchronous & omnichannel messaging as the driving forces behind customer interactions in the future, where Conversational Commerce is a likely corollary. After a painful migration process in 2016-17, LivePerson is three years into a top-line acceleration that appears sustainable." Guggenheim reiterated its buy rating on Target Guggenheim raised its price target on shares of the e-commerce giant to $225 from $200 and said the company was a key beneficiary as consumers return to spending. "We forecast Target benefiting from a favorable U.S. consumer spending backdrop in 2021, highlighted by improved consumer balance sheets and additional fiscal stimulus likely on its way given its large discretionary sales mix. We expect Target to fully participate in the discretionary spending increase in 2021, led by its apparel offering." Seaport downgraded CarMax to neutral from buy Seaport said in its downgrade of the stock that it sees an even risk/reward scenario "This is primarily a valuation call, as we believe the fundamental backdrop for CarMax is very favorable. However, with KMX shares trading near record highs and at the high end of their historical valuation range , we believe these strong fundamentals are priced in the stock, and that risk/reward is balanced." Barclays upgraded Textron to overweight from equal weight Barclays upgraded the industrial conglomerate and aerospace company and said it sees a strengthening in business jet travel. "On the strength in all our key business jet indicators, including near all-time low levels of young preowned inventory, recovering aircraft utilization, and our proprietary survey index of industry professionals, we upgrade TXT to Overweight from Equal Weight." Stifel initiated Shopify as buy Stifel initiated the online e-commerce website that helps small business and said it was a "leading" platform for helping entrepreneuers. "We are initiating coverage of Shopify Inc. with a Buy rating and a $1,200 target price. We view Shopify as the leading eCommerce platform for helping entrepreneurs, SMBs, and enterprises create and manage their businesses online."

Harley-Davidson's just-introduced 2021 models include the CVO lineup with the company's most advanced audio and infotainment options, as well as its latest braking, steering and safety features.

Source: Harley-Davidson

Here are the biggest calls on Wall Street on Wednesday: