- Stephens reiterated Walmart as overweight.
- Wells Fargo upgraded Airbnb to overweight from equal weight.
- Truist upgraded DoorDash to buy from hold.
- Deutsche Bank named Target a top idea into earnings.
- Benchmark reiterated its sell rating on Netflix.
- Oppenheimer upgraded Unity Software to outperform from perform.
- Wolfe initiated Live Nation as outperform.
- Piper Sandler initiated Coinbase as overweight.
- Citi resumed General Electric as buy.
- Mizuho reiterated its buy rating on Zoom.
- Morgan Stanley reiterated its overweight rating on Tesla.
- Jefferies upgraded Churchill Downs to buy from hold.
- Goldman upgraded Snowflake to buy from hold.
- Wells Fargo reiterated its overweight rating on Disney.
- Wells Fargo upgraded DoorDash to overweight from equal weight.
Here are the biggest calls on Wall Street on Friday: Stephens reiterated Walmart as overweight Stephens reiterated its overweight rating on shares of the big box retailer and said it continues to "create value" for shareholders. "While grocery operators are navigating through a significant transition period as we move into a post-COVID world, we think Walmart will continue to make progress on advancing its strategic initiatives." Wells Fargo upgraded Airbnb to overweight from equal weight Wells upgraded the stock after its earnings report on Thursday and said the company should benefit from remote working among other things going forward. " ABNB produced strong 1Q results, which we view as demonstrating the company's positive momentum exiting the pandemic, with ABNB set to benefit from secular demand shifts, increasing category familiarity/favorability, and shifts in workplace flexibility, which we believe represent longterm tailwinds for the short-term rentals market." Truist upgraded DoorDash to buy from hold Truist upgraded the stock after its better than expected earnings. "Stronger than expected 1Q21 results and sustained momentum into FY21 so far point to DASH's solid execution and growing roster of complementary offerings, which is driving incremental value and strengthening its proposition to consumers and merchants alike, amidst a slowly reopening economy." Deutsche Bank named Target a top idea into earnings Deutsche Bank named Target a top pick ahead of its earnings report as the economy reopens and consumers return to spending. "Consumer spending power, demand for newness (driven partly by trend change and some individuals' weight change), and sustained strength in digital sales (despite recovering in-store traffic) are driving top-line growth well beyond initial expectations." Benchmark reiterated its sell rating on Netflix Benchmark reiterated its sell rating on the streaming giant and said it was "skeptical" on subscriber growth. "We maintain our Sell rating and $448 price target on Netflix , although the PT may be subject to more downside risk as we are skeptical on 2H21 member growth. Even with post-production delays attributable to COVID we are not enthralled with the appeal of the content that Netflix is producing off a ~$17B billion 2021 programming budget." Oppenheimer upgraded Unity Software to outperform from perform Oppenheimer said in its upgrade of the software developer that it sees an "attractive" entry point. "While this call may seem early given the low current investor appetite for high growth software stocks, we see an attractive entry point for a good compounding growth story and raise U to Outperform-rated from Perform and establish a $103 PT." Wolfe initiated Live Nation as outperform Wolfe said in its initiation of the concert and ticket company that it was "well positioned to grow market share. "We think LYV is poised for a multiyear cycle of strong growth as the re-opening accelerates for a business that will have the tailwind of favorable supply / demand & a structurally stronger margin profile coming out of the pandemic." Piper Sandler initiated Coinbase as overweight Piper said in its initiation of the stock that it was a "key player in the evolving crypto space." "Though we expect volatility, we believe that COIN' s 1) trusted brand name & commanding position in the evolving cryptoeconomy, 2) ability to grow organically through both new product offerings supporting additional cryptoassets, and 3) positive industry trends favorably position the company to continue its strong growth trajectory." Read more about this call here. Citi resumed General Electric as buy Citi said in its upgrade of GE that the company's turnaround was "progressing." "With evidence of improving execution across much of GE's portfolio and given our expectation of gradual but likely accelerating recovery in GE' s Aviation business particularly in 2H21 and beyond, we see material upside in GE's shares as demand recovery and operational improvements support growing and more consistent/sustainable cash flow generation in '21 and beyond." Read more about this call here. Mizuho reiterated its buy rating on Zoom Mizuho reiterated its buy rating on shares of the teleconferencing company and said investors should buy the weakness in shares. "Heading into FQ1 results, we expect Zoom to deliver outsized top-line growth driven by better-than-expected renewals/retention, strong enterprise expansion and ARPU growth from cross/up-sell highlighted by Zoom Phones and Zoom Rooms." Morgan Stanley reiterated its overweight rating on Tesla Morgan Stanley reiterated its overweight rating on the stock and said investors should buy the weakness in shares. "We believe the pullback provides an emerging opportunity for investors to increase exposure to Tesla in their EV/Auto 2.0 portfolios and we are a buyer on this weakness as our $900 price target embeds what we believe to be some of the most conservative assumptions about Tesla's long-term standing in China on the street." Jefferies upgraded Churchill Downs to buy from hold Jefferies said in its upgrade of the home of the Kentucky Derby that it was one of the "best growth stories" in gaming. "We are upgrading CHDN because fundamentals and unique growth pipeline are intact despite the decline from 3/15/21 peak (-23%), which in our view is driven by technical factors." Read more about this call here. Goldman upgraded Snowflake to buy from hold Goldman said in its upgrade of the cloud computing data company that it saw "attractive" and "strong secular headwinds" in the sector. "Given the company's strong competitive positioning, we continue to view Snowﬂake as well positioned to capitalize on a generational shift of data and analytics to the cloud, with strong secular tailwinds including cloud adoption, big data, AI/machine learning, and secure data sharing which we expect will drive durable growth for the foreseeable future." Read more about this call here. Wells Fargo reiterated its overweight rating on Disney Wells Fargo reiterated its overweight rating on Disney and said investors should buy the weakness in shares after the company posted lower than expected revenue and subscribers for its streaming service on Thursday. "Results indicated a slowdown in Disney's DTC ramp as it faces some short-term headwinds to growth in FH2. Along with missing consensus on quarterly Disney+ subs we expect the stock to pull-back and hang out for a bit." Read more about this call here. Wells Fargo upgraded DoorDash to overweight from equal weight Wells upgraded the stock after its earnings report on Thursday and said the stock was "too good to pass up." "We believe DASH endeavors to develop into a 'decentralized' alternative to AMZN's more vertically integrated eCommerce model, an omni-channel delivery platform, helping brick-and-mortar businesses compete, succeed, and rapidly flourish in rapidly changing times."
Exterior view of a Walmart store on August 23, 2020 in North Bergen, New Jersey
VIEW press | Corbis News | Getty Images
Here are the biggest calls on Wall Street on Friday: