Here are Tuesday's biggest analyst calls of the day: Netflix, Apple, AMC, Dave & Buster's & more

Published Tue, Jun 8 20218:35 AM EDTUpdated Tue, Jun 8 20219:23 AM EDT

Key Points

KeyBanc upgrades Generac to overweight from sector weight.
Morgan Stanley reiterates Tesla as overweight.
Bank of America reiterates Amazon as buy.
UBS upgrades Target to buy from neutral.
Citi adds a positive catalyst watch on Marvell.
JPMorgan upgrades Johnson Controls to overweight from neutral.
Raymond James reiterates Dave & Buster's as strong buy.
Morgan Stanley reiterates Apple as overweight.
Jefferies upgrades Delta to buy from hold.
Jefferies upgrades Lamb Weston to buy from hold.
Cowen upgrades Biogen to outperform from market perform.
Argus upgrades Abercrombie & Fitch to buy from hold.
JPMorgan reiterates Qualcomm as overweight.
Jefferies reiterates Netflix as buy.
MKM reiterates AMC as sell.

Here are the biggest calls on Wall Street on Tuesday: KeyBanc upgrades Generac to overweight from sector weight KeyBanc said in its upgrade of Generac that the backup battery company had a long-term runway for growth. "Storage business inflecting on lower battery costs, higher attachments rates—LT runway looks promising. … Anecdotally, we are hearing solar + storage costs are declining, and attachment rates continue to trend higher." Morgan Stanley reiterates Tesla as overweight Morgan Stanley restated its overweight rating on Tesla and said it sees a "significant long-term volume growth trajectory." " Tesla is the leader in EVs and has strong optionality to monetize its installed base of cars/customers via software services. We value each of Tesla's businesses (Auto business, Network Services, Energy, Insurance, 3rd party battery supplier and Mobility) separately and we see a significant long-term volume growth trajectory." Bank of America reiterates Amazon as buy Bank of America restated its buy rating on the e-commerce giant and said it was on its way to becoming the largest delivery company. "Last-mile Delivery Stations continue to have fastest growth in Amazon' s network, with 427 stations currently operating, and an expected long-term expansion to 1,000 to 1,500 stations to cover 85% of the U.S. population." UBS upgrades Target to buy from neutral UBS said in its upgrade of Target that the big-box retailer's strength will be "evident" in the coming quarters. "Core to our thesis is that as the market continues to see that TGT has been structurally improved, its shares will rally further. Its strong positioning will be further evident in the coming quarters as TGT maintains its momentum even as it laps tough compares and stimulus benefits fade." Read more about this call here . Citi adds a positive catalyst watch on Marvell Citi added a positive catalyst watch on the semiconductor company after the company's earnings report on Monday. "We add MRVL to Citi's catalyst watch list and expect the stock to outperform the group in 2H21 following 1H underperformance (down 1% YTD) due to supply constraints." JPMorgan upgrades Johnson Controls to overweight from neutral JPMorgan upgraded the multinational conglomerate and said it sees more "growth potential." "We are upgrading JCI, as we believe that tangible changes in the level of execution around margins and cash, along with their recent investments that should leverage commercial HVAC market growth potential off of an aged installed base, accelerated by COVID-19/ESG considerations, should drive relative cash earnings outperformance not discounted at current levels." Read more about this call here. Raymond James reiterates Dave & Buster's as strong buy Raymond James restated its buy rating on the restaurant entertainment company ahead of its earnings report later this week and said it sees an "attractive valuation" among other things. "We reiterate our Strong Buy rating on PLAY and are raising our 1Q estimates to above management's guidance range ahead of the company's release scheduled for Thursday, June 10." Morgan Stanley reiterates Apple as overweight Morgan Stanley restated its overweight rating on shares of Apple after the company's Worldwide Developers Conference on Monda y and said it sees a "third consecutive year" of growth. "We expect these new software updates combined with new hardware launches later this summer and fall to allow Apple to post a third consecutive year of growth in FY22, equating to a 12% topline CAGR between FY19 and FY22." Jefferies upgrades Delta to buy from hold Jefferies said in its upgrade of the airline that it was "well positioned" to take domestic market share. "We are upgrading DAL to Buy on the next phase of the recovery as the focus shifts from a recovery in domestic and leisure travel to corporate and international. DAL is well positioned to take share given a strong domestic footprint with small mid sized businesses and overweight exposure to Europe at 52% of 2019 int'l available seat per mile's into the region (vs. 43% for network peers)." Read more about this call here. Jefferies upgrades Lamb Weston to buy from hold Jefferies upgraded the food processing company and said it had "margin momentum." "We upgrade LW to Buy given demand recovery, pricing power, margin momentum, and accelerated financial deleverage potential. Consensus has yet to layer in Lamb's ability to price and its ability to accelerate financial deleverage." Cowen upgrades Biogen to outperform from market perform Cowen upgraded the biotech company after its Alzheimer's disease drug, Aduhelm, was approved by the Food and Drug Administration on Monday. "Today the FDA approved Biogen 's Aduhelm (aducanumab) for the treatment of Alzheimer's disease. Despite the controversy around Aduhelm's approval, our consultants have anticipated meaningful use of Aduhelm should it be available." Read more about this call here. Argus upgrades Abercrombie & Fitch to buy from hold Argus upgraded the lifestyle retailer and said it sees share momentum continuing. "We expect recent earnings and share price momentum to continue at Abercrombie & Fitch. ANF has shifted its focus away from physical stores and toward digital sales, which now account for more than half of revenue." JPMorgan reiterates Qualcomm as overweight JPMorgan restated its overweight rating on shares of Qualcomm and said it sees 30% upside for the stock. "We rate QCOM shares Overweight, primarily on the strength of its leadership in 5G technology, including further proof of its technology leadership demonstrated through a multi-year agreement with Apple." Jefferies reiterates Netflix as buy Jefferies restated Netflix as buy and said it didn't see the streaming giant getting "deeper" into the video gaming world. "Aside from what the company is currently doing (choose your own adventure shows + licensing for casual mobile games), we take a brief look at the three strategies we believe any media company should think about. While we'd like to see Netflix use their cash flows in building a video game streaming division, we believe the company will remain focused on its core competency." MKM reiterates AMC as sell MKM restated its sell rating on the movie theater company and said it should focus on "debt reduction rather than acquisitions." "In our view, with a stabilized balance sheet, AMC would be best served by using its newly raised capital to reduce its sizable $5.5bn debt load rather than pursue acquisitions."

Signage outside the Netflix office building on Sunset Boulevard in Los Angeles, California, on Monday, April 19, 2021.

Bing Guan | Bloomberg | Getty Images

Here are the biggest calls on Wall Street on Tuesday: