Here are Tuesday's biggest analyst calls of the day: McDonald's, Vail, Nio, AMC & more

Published Tue, Jun 1 20218:25 AM EDTUpdated Tue, Jun 1 20219:06 AM EDT

Key Points

Bank of America upgrades Williams-Sonoma to neutral from underperform.
Cowen upgrades Boeing to outperform from market perform.
Goldman Sachs downgrades F5 Networks to sell from neutral.
Loop reiterates sell rating on AMC.
Evercore ISI upgrades Stryker to outperform from in line.
Barclays raises price target on McDonald's to $283 from $270.
Deutsche Bank adds a catalyst call buy idea on Vail Resorts.
Citi upgrades Nio to buy from neutral.
Morgan Stanley initiates coverage of Honest Company as overweight.

Here are the biggest calls on Wall Street on Tuesday: Bank of America upgrades Williams-Sonoma to neutral from underperform Bank of America upgraded the consumer retail company and said Williams-Sonoma's earnings growth has come faster than expected. "We are upgrading Williams-Sonoma to Neutral after strong 1Q results and our belief that earnings growth holds in longer than previously expected and key competitive advantages such as WSM's scale, superior supply chain and ability to cross sell across four large and well-known brands will drive share." Cowen upgrades Boeing to outperform from market perform Cowen said in its upgrade of Boeing that air traffic demand has bolstered the need for aircraft. "Now that U.S has hit a 50% vaccination rate, air traffic/indicators are accelerating. … Strong Set Up For Replacement Demand Beyond traffic, aircraft demand is bolstered by (1) better economics of new planes, (2) low interest rates, and (3) lower carbon emissions." Read more about this call here. Goldman Sachs downgrades F5 Networks to sell from neutral Goldman said in its downgrade of the network security company that the reopening presents a "risk" to F5 's revenue. "Exiting earnings we have not seen consensus expectations reduced as much as we believe is appropriate for Software growth this year. Given this and our view that F5 has benefited from remote access spending, we believe the stock is likely to underperform the rest of our coverage in the short term. As a result, we downgrade F5 Networks from Neutral to Sell and reduce our 12-month price target to $165." Read more about this call here. Loop reiterates sell rating on AMC Loop reiterated its sell rating on AMC shares and said there were too many unknowns. "With the wild stock moves, including an almost $6 billion intraday swing in market capitalization this past Friday, and a 20% short interest, many institutions consider the stock to be uninvestable. Not surprising AMC 's stock price is more highly correlated with GameStop than competitor Cinemark. Eventually the valuation will reflect the fundamentals." Evercore ISI upgrades Stryker to outperform from in line Evercore upgraded the medical technology company and said it saw "premium growth" for Stryker. "2021 has been a tricky year with many factors vying for attention – bullishness over reopening, cyclical recovery vs. fears over testing declines/COVID tailwind drop off, risk of a 3rd wave/cadence of recovery and macro risk factors like inflation fears." Barclays raises price target on McDonald's to $283 from $270 Barclays raised its price target on the stock to a Street high and said the fast-food chain was one of the "best positioned" in a return to defensive trade. "We believe upward estimate revisions through 2Q21 earnings season will mark the end of the 'recovery trade.' Why? 2Q21 beats will be annualized into future estimates, with compares 'less easy,' stimulus benefits waning and novelty of eating out fading, coupled with ongoing food & labor inflation tempering EPS upside. We believe the names best positioned in a return to a 'defensive trade' are MCD , WEN and QSR." Deutsche Bank adds a catalyst call buy idea on Vail Resorts Deutsche Bank added a short-term buy rating on the ski company and said it was well positioned due to pent-up travel demand, among other things. The firm did, however, reiterate its long-term hold rating. "We see MTN as being well positioned to tap into both of these themes, particularly since destination visitation to its western U.S. resorts (and Whistler) was subdued during the 2020-'21 ski season but appears poised to rebound strongly as Covid trends in the U.S. continue to trend lower. Citi upgrades Nio to buy from neutral Citi upgraded the electric car company and said it saw "accelerating orders," among other things. "We upgrade NIO to Buy/1H from Neutral/2H on: 1) potential sector upgrade (we lift our 2021E/25E China new energy vehicle passenger vehicle sales forecast to 2.52/7.84mn units); 2) accelerating orders; 3) Upcoming catalysts." Read more about this call here. Morgan Stanley initiates coverage of Honest Company as overweight Morgan Stanley began coverage of the consumer goods company and said it was a "strong growth" story, among other things. "We view Honest as a strong growth story within consumer packaged goods, given its skew to the high-growth clean/natural product categories and e-commerce channel, as well as whitespace expansion opportunities in US retail, internationally, and in ancillary new product categories. We initiate coverage at Overweight." Correction: An earlier version had the wrong day.

A worker leaves the Boeing 737 factory in Renton, Washington, on Dec. 16, 2019.

Stephen Brashear | Getty Images

Here are the biggest calls on Wall Street on Tuesday: