Here are Friday's biggest analyst calls of the day: Amazon, Roku, Square, Wingstop, Roblox & more

Published Fri, May 7 20218:24 AM EDT

Key Points

Rosenblatt reiterated Square as a top pick.
Oppenheimer reiterated Papa John's as a top pick.
Stifel upgraded Etsy to buy from hold.
Citi upgraded Tupperware to buy from neutral.
Jefferies upgraded Tilray to buy from underperform.
RBC upgraded ViacomCBS to outperform from sector perform.
Loop reiterated Amazon as a top pick.
BTIG upgraded Tapestry to buy from neutral.
Northcoast downgraded Wingstop to neutral from buy.
Raymond James upgraded ConocoPhillips to strong buy from outperform.
Deutsche Bank added a catalyst call buy idea on Allegiant.
Loop upgraded Roku to buy from hold.
JPMorgan upgraded Brinker to overweight from neutral.
Lightshed Partners initiated Roblox as buy.

Here are the biggest calls on Wall Street on Friday: Rosenblatt reiterated Square as a top pick Rosenblatt reiterated the payment company as a top pick after its "blowout" earnings report on Thursday. " SQ moves handily to our top-payments pick following a blowout quarter that signals an accelerated path to becoming a leading digital wallet with significant market share. Cash App's progress monetizing at scale dovetails with a sharp rebound in the Seller business." Oppenheimer reiterated Papa John's as a top pick Oppenheimer reiterated the pizza chain company as a top pick after its strong earnings report and said it saw more upside for Papa John's stock. "Bullish thesis verified. ... .The 1Q21 print outperformed consensus on every operating metric and management's 2Q21 outlook forces sharp revisions to Street's -5.7% forecasts. Unit growth is positioned to accelerate this year with a path for attractive gains into '22 and beyond supported by a surging development pipeline." Stifel upgraded Etsy to buy from hold Stifel said in its upgrade of the stock that the sell-off in shares was "overdone" after the company's earnings report on Thursday. "While it is early in the transition to a mobile society, this stock sell-off sure seems like a good time to position for the other side given how much the pandemic has driven lasting benefits to the Etsy platform." Read more about this call here. Citi upgraded Tupperware to buy from neutral Citi said in its upgrade of the stock that its valuation was "attractive" and the company was making progress in its "transformation." " TUP 's stock has underperformed the S & P by 33% YTD. We consider TUP's valuation to be very attractive today, especially as we are increasingly optimistic about the progress the company has made since its transformation began in earnest last year. Read more about this call here. Jefferies upgraded Tilray to buy from underperform Jefferies double upgraded Tilray and said its combination with cannabis company Aphria was "the perfect match." "Tilray's balance sheet should support a near term entry into the US while the state by state structure persists. When full federal legalization comes, infrastructure/brand equity/awareness from its wider consumer businesses (hemp-food/CBD/alcohol) will then also be advantageous." Read more about this call here . RBC upgraded ViacomCBS to outperform from sector perform RBC said in its upgrade of ViacomCBS that the company's valuation was "attractive" and "too compelling to ignore." "We acknowledge the ongoing (and likely accelerating) secular pressures across the Pay TV ecosystem, and recognize the streaming pivot raises uncertainty with the stability of the linear assets and the medium-term earnings/FCF outlooks. However, following the recent sell-off, we view the streaming momentum and attractive valuation as too compelling to ignore." Read more about this call here. Loop reiterated Amazon as a top pick Loop reiterated Amazon as a favorite stock and said its ad business was underappreciated. "We think AMZN 's data insights are unparalleled along with a strong technology position, a robust device footprint, proprietary content and communities and a very high ability to invest. Already 3x the revenue size of SNAP, PINS and TWTR combined, AMZN's ads business led the pack growing by 79% in 1Q and now at a $25B revenue run-rate." BTIG upgraded Tapestry to buy from neutral BTIG upgraded the owner of Kate Spade and Coach after its earnings report and said the company has made "improvements" that will have "long-lasting" benefits after the pandemic. "After strong FQ3 results, we are upgrading TPR to BUY from NEUTRAL and establishing a $65 PT. We believe the improvements TPR has made to its operating structure and processes will have long-lasting, durable benefits exiting the pandemic." Northcoast downgraded Wingstop to neutral from buy Northcoast downgraded the restaurant chain company mainly on valuation after its strong earnings report. "Based on Wingstop 's recent share price acceleration, which is approaching our revised target of $170, we are lowering our rating to NEUTRAL, believing that the brand's compelling growth story is already supporting the firm's rich valuation." Raymond James upgraded ConocoPhillips to strong buy from outperform Raymond James said in its upgrade of the hydrocarbon exploration company that it sees strong cash flow among other things. "Despite ~$1B in one-time costs associated with the Concho acquisition, Conoco generated nearly$1B in free cash flow during the first quarter alone. Now that those costs are behind them, we have Conoco delivering roughly $2B worth of free cash flow every single quarter for the next two years at strip prices." Read more about this call here. Deutsche Bank added a catalyst call buy idea on Allegiant Deutsche added a short term buy idea on the discount airline and said it was " well-positioned to fully benefit in the recovery of air travel demand." "We believe shares of Allegiant are oversold following a ~10% decline over the past week. We think the primary reason for the pull-back is the company's decision to pursue an equity offering.' Loop upgraded Roku to buy from hold Loop upgraded the stock after its earnings report on Thursday and said the stock is now "more attractively priced." " Roku reported its strongest quarter since going public with a 79% sales gain to $574 million, 17% ahead of consensus estimates, driven by a slightly more than doubling of platform revenue. ... .The fundamentals are stronger than we had anticipated, the stock is more attractively priced, and we are upgrading our rating to Buy from Hold." JPMorgan upgraded Brinker to overweight from neutral JPMorgan upgraded the restaurant hospitality company and owner of Chili's and said it likes the "short-term risk/reward." " Brinker is now a tactical Overweight with an unchanged $78 December 2022 price target following recent pull back. We believe the casual dining rally is on its last legs, but like the short-term risk/reward that Brinker now offers." Lightshed Partners initiated Roblox as buy Lightshed Partners initiated the online gaming platform with a buy rating and said it was a "must own" name. "We are initiating coverage on Roblox with a BUY rating and $85 price target, which is 20x our 2022 bookings estimate of $2.75bn. Our PT yields ~30% upside from current levels. We are several years into the most recent major paradigm shift in media and communications, whereby video became an integral part of our lives, wherever we may be at a given time."

Papa John's International Inc. signage is displayed on top of a delivery vehicle outside of the company's restaurant in Nashville, Tennessee.

Luke Sharrett | Bloomberg | Getty Images

Here are the biggest calls on Wall Street on Friday: