Here are Friday's biggest analyst calls of the day: Boeing, Six Flags, Tesla, Nvidia, Zoom, Netflix & more

Published Fri, May 21 20218:21 AM EDTUpdated Fri, May 21 20218:56 AM EDT

Key Points

UBS upgraded Virgin Galactic to buy from neutral.
Bank of America lowered its price target on Tesla to $700 from $900.
UBS upgraded AT&T to buy from neutral.
New Street upgraded AT&T to buy from neutral.
Bank of America reiterated its buy rating on Zoom.
Gordon Haskett upgraded Bloomin' Brands to buy from hold.
Benchmark initiated Dish as buy.
Citi raised its price target on Boeing to $240 from $200.
Stifel upgraded Pure Storage to buy from hold.
Morgan Stanley upgraded Datadog to overweight from equal weight.
Stifel upgraded Lamb Weston to buy from hold.
Stifel reiterated its buy rating on Six Flags.
Oppenheimer reiterated its outperform rating on Nvidia.
Northland downgraded Seagate to market perform from outperform.
JPMorgan reiterated Honeywell as a top pick.
Evercore ISI reiterated its outperform rating on Netflix.

Here are the biggest calls on Wall Street on Friday: UBS upgraded Virgin Galactic to buy from neutral UBS said in its upgrade of the space flight company that it sees more "upside." "With retrenchment in the stock from '21 highs on test flight delays and news today of the flight test catalyst chain now re-formed (1st powered flight May 22), we are upgrading shares of SPCE to Buy from Neutral with a $36 PT." Read more about this call here . Bank of America lowered its price target on Tesla to $700 from $900 Bank of America lowered its price target on the auto company and said more stock sales could be coming. "As the stock price and TSLA' s key source of still much-needed funding have declined over the past few months, we are moving down our sliding scale of valuation based on the theoretical growth opportunity afforded to TSLA, which is now consistent with 15.5x EV/Sales and 89x EV/EBITDA on our 2021-2022 estimates." Read more about this call here. UBS upgraded AT & T to buy from neutral UBS said in its upgrade of the stock that it sees a "favorable" risk/reward among other things. "We are upgrading AT & T shares to Buy and raising our PT based on a sum of the parts analysis. We see a favorable risk-reward at the current valuation given a more simplified set of connectivity-based assets, lower dividend payout, better visibility into EBITDA growth and lower leverage." Read more about this call here. New Street upgraded AT & T to buy from neutral New Street said it was making a "tactical upgrade" on AT & T after the company's deal with Warner Media but that long-term concerns still remain. "We are upgrading AT & T following the Warner Media transaction. We have a tactical 6-month target of $35 (18% upside). We have reservations about long-term prospects, but we don't expect the market to take our side on the longer-term issues for a while." Bank of America reiterated its buy rating on Zoom Bank of America reiterated its buy rating on shares of Zoom ahead of the company's earnings report and said it sees "momentum." "Zoom is set to report 1Q22 results on June 1, and we see potential for a beat vs Street estimates. The combination of a lingering pandemic globally plus upsell of Rooms and Phones should support momentum." Gordon Haskett upgraded Bloomin' Brands to buy from hold Gordon Haskett upgraded the owner of Outback Steakhouse among other brands and said it had "best in class fundamentals." "Upgrading to Buy: BLMN Shares Deserve More Attention w/ Stock's Healthy Valuation Discount Belying Best-in-Class Fundamentals." Benchmark initiated Dish as buy Benchmark said in its initiation of Dish that it was bullish on the company's build-out of its 5G network. "Building a 'Native' U.S. 5G network that is cloud based and virtualized. The new network is more cost efficient as it does not have to support legacy 3G/4G infrastructure. Dish is collaborating with AWS and has access to its advanced cloud capabilities. The network should be able to offer superior data capacity with significantly better pricing compared to the Big Three U.S. wireless carriers." Citi raised its price target on Boeing to $240 from $200 After a change in analyst coverage, Citi raised its price target on the stock and said it sees near-term positives and negatives but that investors should expect "lots of volatility." The firm reiterated its neutral rating on the stock. "Our Target Price of $240 gives some upside, but expect lots of volatility – the high 2021 debt level will tend to lead to undervaluing the shares; 2022/23 cash flow will tend to lead to over-valuing the shares – we believe investors need to look through both the near term negatives and medium term positives." Stifel upgraded Pure Storage to buy from hold Stifel said in its upgrade of the data storage hardware company that it had a "best in class product and service portfolio." "We upgrade our rating on Pure Storage to Buy from Hold while maintaining our $25TP given clear indications of increasing on-prem spending by customers and positive commentary from PSTG channel partners' recent reports, as well as an unwarranted sell-off from its 2/12/2021 high of $28.90, in our view." Morgan Stanley upgraded Datadog to overweight from equal weight Morgan Stanley said in its upgrade of the cloud monitoring service company that it had the potential for a "sustained strong rate of growth." " Datadog' s rapid pace of product innovation and highly efficient monetization model is translating to accelerating share gains in a large and growing core market sized at $19 billion. With shares 25% off of highs and trading at a discount to software as a service peers on a growth-adjusted basis, we upgrade to OW." Read more about this call here . Stifel upgraded Lamb Weston to buy from hold Stifel said in its upgrade of the food processing company that it was a key beneficiary of the economy reopening. "We are upgrading the shares of Lamb Weston to Buy from Hold as we look forward to a period of robust revenue and profit growth for the company in relation to a valuation level that we believe does not fully account for the rebuilding of growth in sales and EBITDA." Stifel reiterated its buy rating on Six Flags Stifel reiterated its buy rating on the theme park company and said it was one of the "most compelling" names that "will surprise to the upside." "Coming out of 1Q21 earnings, we believe SIX is the most compelling name under our coverage as we see multiple avenues for this name to work both in the near-term and long-term. … We believe the sell-off is unwarranted given SIX's core operating metrics continue to look healthy and as we approach their key operating season which will commence over the next couple of weeks, we believe demand and spend patterns will surprise to the upside." Oppenheimer reiterated its outperform rating on Nvidia Oppenheimer reiterated its outperform rating on shares of Nvidia and said it sees "upside to consensus" ahead of the company's earnings report next week, "We see broad upside (vs. original $5.3B outlook) led by gaming. Crypto alone contributes $100M of upside. We see upside again limited by supply tightness. Constraints likely persist into end of year, though gradual supply improvement supports continued Q/Q growth." Northland downgraded Seagate to market perform from outperform Northland downgraded the data storage company mainly on valuation. "We estimate that cryptocurrency is roughly 3% of hard disk drive demand this quarter as STX shares have started to trade in sympathy with cryptocurrencies. STX is near our PT as volatility is increasing STX and crypto creates multiple uncertainty. Downgrading to MP." JPMorgan reiterated Honeywell as a top pick JPMorgan reiterated Honeywell as a top pick and said it was bullish on the company's opportunity in urban air mobility. "We continue to feel as though investors underappreciate the many HON specific growth initiatives embedded in the portfolio that are on the cusp of bearing fruit in the middle of key early stage secular trends for which they are a key enabler, adding to an already favorable set-up for the next three years, one that is not only cyclically well positioned but with the increasingly visible potential for market outgrowth." Evercore ISI reiterated its outperform rating on Netflix Evercore ISI reiterated its outperform rating on shares of Netflix but said the firm's most recent survey results on the streaming giant were "somewhat soft." "We conducted our very first Evercore ISI Netflix quarterly survey, assessing Netflix's value proposition and competitive position across the globe. This follows 37 quarters of survey work over the last ten years. The size of our U.S. survey this time was 1,670 respondents. All in, the May U.S. survey results were somewhat soft. For key context, we'd note that at this point 90%+ of Netflix's global subscriber growth is coming from non-U.S. markets."

Dish Networks exhibit at CES 2016 in Las Vegas.

Justin Solomon | CNBC

Here are the biggest calls on Wall Street on Friday: