Here are Thursday's biggest analyst calls of the day: Amazon, Boeing, Nvidia, SolarEdge & more

Published Thu, Jun 3 20218:49 AM EDTUpdated Thu, Jun 3 20219:47 AM EDT

Key Points

Morgan Stanley reiterates Boeing as overweight.
Bank of America reiterates Uber as buy.
Evercore ISI reiterates Nvidia as a top pick.
Cantor upgrades Tilray to buy from neutral.
Morgan Stanley reiterates Amazon as overweight.
Stifel upgrades Criteo to buy from hold.
Barclays upgrades Occidental Petroleum to overweight from equal weight.
Jefferies upgrades Take-Two to buy from hold.
Citi resumes Gannett as sell.
Citi downgrades Allstate to neutral from buy.
Stephens upgrades Redfin to overweight from equal weight.
Guggenheim initiates coverage of SolarEdge as buy.

Here are the biggest calls on Wall Street on Thursday: Morgan Stanley reiterates Boeing as overweight Morgan Stanley reiterated its overweight rating on the aerospace company and said it expects the coronavirus recovery trade to "more than offset the incrementally negative news of a potential new aircraft program." "It's better to own Boeing after first delivery of a new program than during development, but we expect the positive momentum of COVID-19 recovery to more than offset negative investor sentiment of a new launch." Bank of America reiterates Uber as buy Bank of America reiterated its buy rating on the ride-sharing company and said it sees a "goldilocks scenario" as mobility rebounds. "For Uber , we think the Street has optimism on potential Mobility recovery, offset by caution on slowing Delivery demand and the impact of limited driver supply on bookings. In this report we examine recent US data, where a vaccine-driven reopening is ahead of most regions." Evercore ISI reiterates Nvidia as a top pick Evercore reiterated Nvidia as a top pick and said it sees shares "going higher." "Despite rising crypto concerns and current supply constraints, we believe investor fears for NVDA's Gaming business are largely overdone based on our view that true gaming demand remains greatly underappreciated." Cantor upgrades Tilray to buy from neutral Cantor upgraded the cannabis company and said it has a "credible platform." "We are reassuming coverage of Tilray post the merger with Aphria with an Overweight rating and set a 12-month price target of US$22 (vs. $30.25 before; the lower PT is due to sectoral derating and reduced EBITDA estimates). Domestic scale and a credible platform overseas are key ingredients for future LP success, in our view, combined with track record." Morgan Stanley reiterates Amazon as overweight Morgan Stanley reiterated its overweight rating on the e-commerce giant and said it sees one-day shipping in the near future. "Signals suggests a broader AMZN same-day shipping offering could be ahead. We detail 3 reasons this matters, an interactive same-day unit economic model applicable to any global player, and AMZN's competitive edge against emerging players (UBER/DASH, etc) in the ~$1.7tn US 'On-Demand' market." Stifel upgrades Criteo to buy from hold Stifel upgraded the media ad platform company and said it saw an attractive risk/reward. "Following our participation in a joint note outlining the opportunities available in retail media for Walmart we are increasingly bullish on Criteo' s prospects for its Retail Media business. … Additionally, we view risk/reward as positively skewed at current levels based on a SOTP analysis." Barclays upgrades Occidental Petroleum to overweight from equal weight Barclays upgraded the hydrocarbon exploration company and said it had better "clarity" on the company's outlook. "Near-term oil beta is a tradable E & P theme and OXY has the 2nd highest beta; we have more clarity on the near-term outlook." Jefferies upgraded Take-Two to buy from hold Jefferies upgraded the video game company and said it saw more "upside potential." "We are more confident than ever that, in the medium to long term, TTWO will see significant growth as a multiple-years-long buildup of content comes to fruition over the next 3 to 5 years. LT, we see "normalized" earnings of $9+ with significant upside potential." Read more about this call here. Citi resumes Gannett as sell Citi resumed coverage of the media company and said it was concerned about "headwinds" in print media. "We rate shares of GCI a Sell with a $3.80 target price. We arrive at our target price by applying a 4.6x multiple to our 2023 Adj. EBITDA estimate. We are cautious about GCI's equity at prevailing levels given potential headwinds from the print advertising business." Citi downgrades Allstate to neutral from buy Citi downgraded in the insurance company and said it was concerned about higher claims costs. "We are downgrading ALL to Neutral and closing our ALL over PGR pair trade, due to: 1) limited upside to our revised $142 PT / lack of near-term positive catalysts (post announced life / annuity exit); 2) a diminishing net auto frequency benefit (informed by PGR's results); and 3) higher claims costs ahead due to inflation." Read more about this call here. Stephens upgrades Redfin to overweight from equal weight Stephens upgraded the online real estate company and said investors should buy any weakness in shares. "We have long liked the RDFN business model as we see it as a future-state brokerage model that weaves in a fully digital end-to-end value chain starting with a fast-growing top of funnel/website leading to favorable customer acquisition cost outcomes and ending with an emerging mortgage/ title solution." Guggenheim initiates coverage of SolarEdge as buy Guggenheim initiated coverage of several solar companies and said it was bullish on the future of distributed energy. "Concerns about residential power resilience are also driving deployment of storage and distributed power generation. We are initiating coverage of two solar inverter companies, SolarEdge and Enphase, as well as two residential solar developers, Sunrun (RUN, assuming coverage from Shahriar Pourreza) and Sunnova." Read more about this call here.

A truck pulling an Amazon Prime branded cargo container waits beside the entrance gate at Amazon.com Inc.'s new fulfillment center in Kolbaskowo, Poland, on Friday, Feb. 16, 2018.

Bartek Sadowski | Bloomberg | Getty Images

Here are the biggest calls on Wall Street on Thursday: