Here are Wednesday's biggest analyst calls: Amazon, Robinhood, Apple, AMC, Facebook & more

Published Wed, Sep 1 20218:19 AM EDTUpdated Wed, Sep 1 202110:51 AM EDT

Here are the biggest calls on Wall Street on Wednesday: Citi upgrades Canadian National to buy from neutral Citi said in its upgrade of the rail company that Canadian National has promise as a stand-alone company. "We're upgrading shares to Buy from Neutral and raising our price target to US$140, as we think the stock is likely to benefit from the potential that the KSU deal goes away (removing the regulatory overhang) and a refocus from management on operating ratio." Read more about this call here. JPMorgan adds Sunrun to the focus list JPM added the solar company to its focus list and called Sunrun a top growth idea. "While one of our top long-term picks within our coverage, we also believe RUN is uniquely positioned from a near-term perspective as well." Read more about this call here . Berenberg initiates Corteva as buy Berenberg said in its initiation of coverage of the agricultural chemical company that "massive cash flow generation provides more upside." "We think Corteva's ability to achieve and exceed its peak sales targets will be the main catalyst for the shares to reach such a level, in addition to EPS doubling by 2024." Barclays initiates Chart Industries as overweight Barclays says the manufacturer of clean energy engineering equipment is one of the most attractively priced hydrogen-option stocks in the space. " Chart' s core business is to supply smaller-scale capital equipment to stable end markets with strong customer visibility, high market share and consistent mid-teens EBITDA margins—this core business provides the platform for growth few companies possess…especially in the hydrogen space (GTLS is one of the few infrastructure ideas in hydrogen) which we believe will represent ~40% of EBITDA by '25 based on the company's three-year TAM." KeyBanc reiterates Uber as overweight KeyBanc says it believes the ride-hailing company has a significant opportunity to gain market share in grocery delivery. "Market share dynamics remain in flux, and UBER has made gains in select markets like New York. Relative to DASH, we look for continued efforts to drive better supply in suburban markets." Jefferies reiterates CrowdStrike as a top pick Jefferies kept its top pick status on the cybersecurity company after its earnings report and said it has an impressive story. " CRWD reported a rev beat (4.5% vs 4% in F1Q and 6-9% in FY21) & raise. ... . Regardless, these results are evidence of how impressive this story is and we don't see the cyber tailwinds slowing." Bernstein reiterates Amazon as outperform Bernstein kept its outperform rating on the e-commerce giant and said it's bullish on the company's ad opportunity. " Amazon advertising was once again impressively strong, growing ~90% Y/Y, bolstered by strong eCommerce traffic over the last twelve months. ... However, overall performance, margins, and the revenue guide were relatively weak, leading us to pull back our estimates (non-ad related). We remain positive on Amazon, especially as its ad business should provide a rising floor to earnings growth." Susquehanna reiterates Boeing as positive Susquehanna kept its positive rating on shares of the aerospace company but lowered its third-quarter estimates due to uncertainty over the Boeing 787. "With Boeing yet to receive approval from the FAA to resume 787 deliveries, and with less than one month remaining in the quarter, we are lowering our 3Q estimate for 787 deliveries to zero from 25 previously." JMP reiterates Robinhood as market outperform JMP reiterated its outperform rating on Robinhood and said it's not concerned about potential SEC regulation of payment for order flow, which is payment brokerages receive for directing clients' trades to market makers. "We think this SEC, like others before it, is quite focused on transparency and investor protection, but we also believe investors have been big beneficiaries of the current business model. Payment for order flow has been overseen and regulated by the SEC for decades, even though it is often presented as some business happening in the shadows where retail investors are being taken advantage of. Wolfe initiates Sunrun and Sunnova as outperform Wolfe said in its initiation of coverage of Sunrun and Sunnova that the solar companies have big upside. "We are bullish and view batteries and EV adoption as key catalysts. Huge growth potential, fragmented market, recurring revenues, customer focused. Concerns are complex financials, leverage, and valuation." HSBC cuts American Water Works to hold from buy HSBC downgraded the water company mainly on valuation. "The investment needs of US water and wastewater infrastructure continue to offer a long-term opportunity. ... We believe AWK 's low-risk profile and predictable growth trajectory is fairly priced post recent performance." Morgan Stanley reiterates Amabarella as overweight Morgan Stanley kept its overweight rating on the semiconductor design company after its earnings report and said it sees further revenue growth. " AMBA continues to post very strong results, as they have for the last several quarters. While the stronger industry environment is a factor, the bigger driver has been the progress of computer vision in expanding the TAM (total addressable market) within both surveillance and automotive." Macquarie downgrades AMC to underperform from neutral Macquarie said in its downgrade of the theater chain that it still has concerns about AMC 's cash flow. "Overall, we do not see the company generating positive FCF until 2023 and believe there are other ways to own the theatre space. Downgrade to Underperform, from Neutral." Read more about this call here. Rosenblatt downgrades Facebook neutral from buy Rosenblatt said in its downgrade of the social media giant that it sees rising digital ad competition. "And while Facebook was already seeing competitive ROAS (return on advertising spend) from CTV platforms, it faces more meaningful '21E-'22E digital ad share competition from Apple, Roku, AVOD/ad-supported services, and Amazon." Read more about this call here. Wolfe upgrades Apple to peer perform from underperform Wolfe upgraded the tech giant and said it sees healthy iPhone demand. "We believe healthy US operator promos and Huawei share gains drove strong iPhone 12 demand. Both should continue with the iPhone 13. Apple 's strong supply chain and elevated ASPs (average selling price) should add tailwinds."

A sign at the Amazon.com, Inc. BHM1 fulfillment center is seen on March 29, 2021 in Bessemer, Alabama.

Patrick T. Fallon | AFP | Getty Images

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