Here are Wednesday's biggest analyst calls of the day: Tesla, JPMorgan, ViacomCBS, AMC & more

Published Wed, Apr 7 20218:17 AM EDT

Key Points

Evercore ISI resumed Diamondback Energy as outperform.
RBC initiated Sunrun as outperform.
Goldman Sachs initiated Waste Management as buy.
Loop reiterated its sell rating on AMC Entertainment.
Barclays named JPMorgan a top pick.
Baird upgraded CyberArk to outperform from neutral.
Wolfe upgraded ViacomCBS to outperform from peer perform.
Morgan Stanley named Simon Property a top pick.
UBS upgraded Kontoor Brands, Abercrombie & Fitch, and L Brands to buy from neutral.
Deutsche Bank named Dell a top recovery idea.
Morgan Stanley named Tesla as a key infrastructure beneficiary pick.

Here are the biggest calls on Wall Street on Wednesday: Evercore ISI resumed Diamondback Energy as outperform Evercore resumed coverage of the hydrocarbon exploration company and said it would be helped by the "strength in crude" in a post-coronavirus recovery. " FANG has emerged from the 2020 downcycle refreshed—from both a strategy and asset perspective. ... .De-leveraging is the first (and second) call on capital, and continued strength in crude into the post-COVID recovery should continue to bolster the investment case." RBC initiated Sunrun as outperform RBC initiated coverage of the solar company and said it was a leader in a fast growing market. "We initiate coverage of Sunrun with an Outperform rating and $81 price target. RUN is the leading player in the rapidly growing US rooftop solar market." Goldman Sachs initiated Waste Management as buy Goldman Sachs initiated the waste management company and said it was "positive" on the company's local competitive positioning. "We are positive on WM 's industry-leading unit economics and productivity improvement over the past ﬁve years, highlighted by the highest EBITDA per employee in our coverage." Loop reiterated its sell rating on AMC Entertainment Loop reiterated its sell rating and $1 price target on the stock and said it still had concerns about the company's competitive positioning. "The fundamentals of the exhibition industry have declined, AMC 's competitive position, in our view, has not improved, its enterprise value has almost doubled while its closest competitor's value has declined." Barclays named JPMorgan a top pick Barclays raised its price target on the banking giant to a Street high of $187 from $172 and named it a top pick ahead of its earnings report. "We are raising our 1Q21 EPS estimate to $2.90 (+$0.34) vs. consensus of $2.93 as revenues remain elevated for capital markets-related fees while loan loss reserve releases should continue. ... .Looking out, we expect JPM to expand on its views for 2021 as trends in the economy and rates improve while market volatility normalizes." Baird upgraded CyberArk to outperform from neutral Baird upgraded the cybersecurity company and said it was a top long-term pick. "We are upgrading CyberArk to Outperform given our appreciation of the company's commitment to driving its model transition and a healthy demand environment for privileged access management. Partner feedback suggests privileged access management as a higher-priority spend area in 2021, which we have been expecting given the recent threat landscape." Wolfe upgraded ViacomCBS to outperform from peer perform Wolfe said in its upgrade of ViacomCBS that it sees an "attractive" risk/reward. "With underlying ad trends solid, a seemingly reasonable consensus streaming sub target, the likelihood of a distribution partner(s) in the coming months, and implied streaming value of ~$5B at current levels, we find the risk/reward attractive & upgrade to OP." Morgan Stanley named Simon Property a top pick Morgan Stanley named the real estate investment trust as a key beneficiary from the shake-up in retail. " SPG is a diversified owner of retail real estate across the property types and the quality spectrum. We expect it to be a long-term beneficiary from the shake-up in retail given its strong balance sheet and ability to self-fund (re)development costs with free cash flow." UBS upgraded Kontoor Brands, Abercrombie & Fitch, and L Brands to buy from neutral UBS upgraded several retail stocks on Wednesday morning and said they were "self-help" stories and had robust long-term prospects. "We also upgrade ANF , GIL, KTB , and LB to Buy. These stocks have strong LT growth prospects which we believe are not priced in. Plus, part of our call heading into 2021 was to look for stocks where self-help initiatives and other transformational changes have been overlooked by the market due to the pandemic." Deutsche Bank named Dell a top recovery idea Deutsche named the computer tech company as a top idea for the recovery and said it sees more upside in the stock. " DELL shares have outperformed its IT hardware peers YTD (DELL up +22% vs. peers up +19% and S & P 500 up +8%), but we believe its shares will continue to outperform as IT spending recovers as we go through this calendar year." Morgan Stanley named Tesla as a key infrastructure beneficiary pick Morgan Stanley named the auto maker as a top beneficiary of an infrastructure bill and said it could "disproportionately" benefit. "Within a range of potential outcomes, we believe investors may need to prepare for an EV infrastructure bill (including purchase incentives for EVs, development of charging and manufacturing infrastructure, grid enhancement etc.) that could disproportionately benefit Tesla and pure battery electric vehicle startups near term while providing for a relevant/if not thriving terminal value for non- Tesla players long term."

Signage is displayed on the Tesla Inc. assembly plant in Fremont, California, on Tuesday, Sept. 22, 2020.

David Paul Morris | Bloomberg | Getty Images

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