Here are the biggest calls on Wall Street on Friday: Evercore ISI adds Dell to the tactical outperform list Evercore said it sees upside to consensus ahead of the company's earnings report next week. "We are adding DELL to our Tactical Outperform List ahead of the company's Jul-qtr earnings report on Thursday August 26 after market close. We expect the company to report notable upside vs. consensus estimates of $25.5B/$2.03 driven by underlying fundamental strength across key segments." HSBC upgrades Mosaic to buy from hold HSBC said in its upgrade of Mosaic that it sees "strong" fundamentals and pricing. "We believe supply disruptions, higher feedstock costs and low inventories are the catalysts that could support strong prices through 1Q22. Several major nitrogen plants are under outages that extend through 2H21." Credit Suisse upgrades Petco to outperform from neutral Credit Suisse said in its upgrade of the pet store that it's "well positioned." " Petco offers exposure to a relatively healthy category with secular drivers in growing spend per pet household, which should enable the industry to grow faster than pre-pandemic levels. Importantly, Petco's offering should enable it to grow faster than the industry." JPMorgan adds BJ's to the focus list JPMorgan added the big-box warehouse store to its focus list after its earnings report and said the stock has more room to run. "Overall, BJ posted strong EPS upside, beating consensus by 24% and above our Street-high forecast, with core comps of down 3.4%, above the Street's down 9% and our recently raised down 4.8% with merchandise gross margin up 30 bps vs. our 2020E driven by mix despite higher freight costs and price investments." Read more about this call here. Cowen names Target and RH as top picks Cowen named Target and RH as top picks and said the companies should benefit from remote and hybrid work. "We update our conviction list and our top picks are now MYTE, RH and TGT. Our assumption is that social gatherings, back-to-school, and share-of-wallet shifts will continue to drive (1) apparel, accessories, outerwear, (2) electronics, supplies, and toys, and (3) luxury categories." Goldman Sachs reiterates Tesla as buy Goldman said it's bullish on the company's opportunities in artificial intelligence after Tesla's AI day on Thursday. "We believe the event showcased the breadth of Tesla' s engineering talent, the scope of the challenges to reaching full autonomy, and the necessary coordination of multiple teams within Tesla." Telsey reiterates Best Buy as outperform Telsey kept its outperform rating on shares of the electronics store ahead of its earnings report next week and said it sees "solid" cash flow and "stable" profitability. " Best Buy should remain a long-term winner in retail as it strengthens its position with steady market share gains, stable profitability, leading omni-channel capabilities, solid cash flow generation, a healthy balance sheet, and a strong management team." Morgan Stanley reiterates Dick's Sporting Goods as overweight Morgan Stanley said it sees robust sales growth when the sporting goods store reports earnings next week. "Another beat and raise on tap. ... We believe DKS can move higher on 1) continued upward revisions, and 2) an undemanding multiple." Mizuho reiterates Microsoft as buy Mizuho raised its price target on the stock to $350 from $325 after the company announced price increases for its Microsoft 365 products. The firm said it expects the increase to have a "significant" financial impact on the company. "In a blog post yesterday, MSFT surprisingly announced a first-ever price increase for its Microsoft 365 and Office 365 commercial product suites. … While it will take time to filter through the model, we expect these actions will have a significant financial impact in FY23 and beyond." JPMorgan upgrades Macy's to neutral from underweight JPMorgan said in its upgrade of the stock that the risk/reward is "too hard to ignore." "We are upgrading M to Neutral establishing a $25 Dec '22 price target. From a P/L (profit and loss) perspective, we see our updated financial model as base-case with FY23 EPS power of $2.60 reflecting revenues low-single-digits below 2019's pre-pandemic base." RBC downgrades Duke Energy to sector perform from outperform RBC downgraded the stock mainly on valuation. "We think this valuation is fair under a business as usual scenario, where the regulatory constructs remain the same and DUK executes on its base case capital plan." Read more about this call here . Loop upgrades Leslie's to buy from hold Loop said in its upgrade of the pool company that the pullback in the stock is overdone. "We're upgrading LESL to BUY while maintaining our above consensus estimates for 4Q21/FY22 as we believe the recent pullback that began in conjunction with its secondary offering and has continued through earnings season is overdone." MKM reiterates Peloton as buy MKM reiterated its buy rating on Peloton ahead of the fitness and equipment company's earnings report next week and said it sees "innovation and execution." "Our price target goes to $130 (from $110) and are based on unchanged target multiples. On the heels of a flurry of recent positive developments we believe innovation and execution at Peloton continue to improve." Morgan Stanley reiterates Madison Square Garden Sports as overweight Morgan Stanley said it's seeing strong season ticket demand for the owner of the New York Knicks and Rangers. "We are incrementally encouraged that MSG Sports will remain a standalone, pure-play sports equity and that over time there could be steps taken to address the ~40% discount to fair value in shares. More near-term, the 94% season-ticket renewal rate reflects fan passion for the Knicks and Rangers." Loop reiterates Uber as buy Loop said investors are underestimating the company's advertising opportunity. "We think the advertising opportunity for Uber may be considerably larger than many investors may realize as the company expands its delivery business into categories outside of restaurants." Guggenheim reiterates Netflix as buy Guggenheim said Netflix's refreshed content lineup should drive more growth. "Longer-term, we expect the relationship between content investment and member adds as well as the ultimate membership ceiling to be key debates for share appreciation."
Satya Nadella, Chief Executive Officer of Microsoft Corp., listens to audience questions at the Microsoft Annual Shareholders Meeting in Bellevue, Washington on November 30, 2016.
Jason Redmond | AFP | Getty Images
Here are the biggest calls on Wall Street on Friday: