Here are Tuesday's biggest analyst calls of the day: Amazon, FedEx, Caterpillar, Boeing & more

Published Tue, Apr 13 20218:16 AM EDT

Key Points

Susquehanna upgraded JetBlue and Spirit to positive from neutral.
Goldman Sachs named Boeing a top pick into earnings.
Jefferies reiterated its buy rating on Amazon.
Truist upgraded Bristol-Myers to buy from hold.
Wolfe initiated Caterpillar as outperform.
KeyBanc upgraded FedEx to overweight from sector weight.
Wolfe initiated Deere as outperform.
Jefferies upgraded Booking Holdings to buy from hold.
MoffettNathanson initiated Coinbase as buy.
Bank of America initiated NortonLifeLock as underperform.
Deutsche Bank added a catalyst call buy idea on Honeywell.
Deutsche Bank added a catalyst call sell idea on 3M.

Here are the biggest calls on Wall Street on Tuesday: Susquehanna upgraded JetBlue and Spirit to positive from neutral Susquehanna upgraded JetBlue and Spirit ahead of what it expects will be a "recovery" in U.S. air travel. "With clear signs of a recovery in U.S. domestic air travel we're revisiting our stock framework for our airline coverage. We see a competitive fare environment into 2H21, as we believe U.S. carriers will be chasing the same traffic, specifically U.S. domestic leisure." Goldman Sachs named Boeing a top pick into earnings Goldman named the aerospace company as a favorite idea ahead of its earnings report. "787 deliveries have resumed, MAX inventory continues to unwind, Boeing has won > 200 new MAX orders recently, and global air travel is rebounding. We believe all of this will lead to a positive update on the drivers of future free cash generation." Jefferies reiterated its buy rating on Amazon Jefferies reiterated its buy rating on shares of Amazon and said Amazon Web Services was the company's "most valuable" business for "continued strength. The firm also said it saw 70% upside over the next three years. "We expect AMZN will return to outperformance once the market gains clarity on the near-term trajectory of core Retail, supported by attractive growth at higher margin businesses (AWS/Ads). That said, we believe overall revenue growth is a key driver of stock performance and would not be surprised if AMZN remained range-bound until moving past the first difficult comparison in Q2." Truist upgraded Bristol-Myers to buy from hold Truist upgraded the pharmaceutical company and said the company was making "pipeline progress" with its latest products. "We launched on US Major Pharma in October with an overall bullish view on the group but we started with a Hold rating on BMY pending greater visibility on key late-stage pipeline assets. ... .Given the pipeline progress coupled with results from our detailed pipeline analysis, we are raising our PT to $74 and moving to a Buy rating." Wolfe initiated Caterpillar as outperform Wolfe said in its initiation of the machinery company that housing demand and commodity prices should "contribute to a new up cycle" for the stock. "Leading global manufacturer in construction equipment with global economic and inflationary activity now picking up. Prolonged demand in the U.S. housing market, a catch up in commercial activity, rebounding commodity prices, and leaner inventories should contribute to a new up cycle for CAT. " KeyBanc upgraded FedEx to overweight from sector weight KeyBanc said in its upgrade of the shipping company that it sees "resilient" airfreight dynamics and the opportunity to take share from competitors. "Combined with more resilient airfreight dynamics, leverage to improving global economic activity, and rational pricing dynamics, we raise FDX to OW with a $350 price target." Wolfe initiated Deere as outperform Wolfe said in its initiation of the stock that it was "poised" for a "multi-year upswing in trends." " DE represents the largest manufacturer and distributor of agricultural and turf equipment globally with the sector now poised for a multi-year upswing in trends.We view overall tight inventory positioning coupled with an improved commodity price backdrop as helping to fuel continued top-line growth." Jefferies upgraded Booking Holdings to buy from hold Jefferies upgraded the travel holdings website company and said it sees bookings and revenue growth "reaccelerating" as the economy reopens. "We are upgrading BKNG to Buy and raising PT to $2,800. We like the story fundamentally and turn more positive as we see: 1) a meaningful inflection in global travel after a tough year; 2) bookings and revenue growth reaccelerating." MoffettNathanson initiated Coinbase as buy MoffettNathan said in its initiation of the crypto exchange platform ahead of its direct listing on the Nasdaq on April 14 that it was a "one-of-a-kind, pure expression of the secular cryptocurrency trend." "We view Coinbase as a leading technology infrastructure provider for the cryptocurrency ecosystem, providing essential building blocks to facilitate the use of cryptocurrencies, including market-leading crypto storage and exchange capabilities." Bank of America initiated NortonLifeLock as underperform Bank of America initiated the software security company and said it was concerned about "weak" consumer channels. " NortonLifeLock's focus on consumer security and believe the tuck-in acquisitions add new growth avenues in the long run. However, once we isolate M & A impact, core Symantec (58% of revenues) is not growing, which is a reflection on weak consumer channels the company will have to improve." Deutsche Bank added a catalyst call buy idea on Honeywell Deutsche added a catalyst call buy rating on the stock and said it saw "favorable late-cycle end-market exposure." "From our conversations with investors leading up to the quarter, we sensed a real lack of enthusiasm on HON, which is odd considering YTD underperformance ( HON has seen the weakest gain of all names that we cover, +3% YTD vs. +16% median) and favorable late-cycle end-market exposure." Deutsche Bank added a catalyst call sell idea on 3M Deutsche Bank added a short term sell rating on the stock but maintained its long term hold rating and said it saw the potential for a 2% earnings per share miss this quarter. " MMM stock has curiously outperformed in recent weeks, despite the fact that management has been sounding the alarm on supply chain headwinds and commodity inflation (doubling from $0.10 embedded into original guidance) during recent conference presentations."

Amazon boxes are seen stacked for delivery in New York City.

Mike Segar | Reuters

Here are the biggest calls on Wall Street on Tuesday: