Here are Friday’s biggest analyst calls of the day: Nvidia, Joann Stores, Broadcom and more

Published Fri, Sep 3 20218:16 AM EDTUpdated Sun, Sep 5 20214:11 AM EDT

Here are the biggest calls from Wall Street analysts for Friday, Sept. 3. Jefferies hikes price target on Nvidia to $260 from $233, reiterates buy rating Nvidia is up more than 71% this year, but Jefferies thinks the semiconductor stock can run even higher due to its growing data center and software segments. "We have increased conviction that its data center business is accelerating, and that it continues to build out its software offerings, consistent with our thesis that NVDA is morphing into a Parallel Processing Ecosystem play." Read more about this call here . Telsey downgrades Joann Stores to market perform from outperform, lowers price target to $14 from $18 The crafts company saw heightened demand during the pandemic, but Telsey has "limited visibility" into how consumer behavior will normalize in a post-Covid era. "We are downgrading our rating on JOAN to Market Perform from Outperform due to limited visibility into the normalized demand level for arts & crafts, following a (29.9%) comp in 2Q21 that missed TAG/Street's forecast of (25%), and the impact of supply chain costs over the next several quarters." Piper Sandler hikes price target on Broadcom to $550 from $525, reiterates overweight rating Piper Sandler raises its price target on Broadcom after the semiconductor company reported better-than-expected quarterly earnings . "Overall, the company appears to be very confident about demand trends heading into fiscal 2022, with enterprise leading the way. The company continues to execute well, driving strong margin expansion and free cash flow generation." Barclays upgrades Baxter International to overweight from equal weight, raises price target to $100 from $93 The firm upgraded the medical technology stock, saying Baxter International 's plan to acquire hospital-bed maker Hill-Rom alleviates risk from the stock and creates growth opportunity. "When we objectively look at the revenue growth outlook, margin expansion outlook, and potential earnings power for BAX combined with HRC we are more confident in this outlook with HRC than without HRC." Wedbush reiterates outperform rating on Docusign, maintains $340 price target Docusign's quarterly earnings beat and higher-than-expected third-quarter revenue guidance shows growth will continue for the newly public company, according to analyst Dan Ives. "Given the eye popping fundamental growth and cloud driven shift, we believe the DOCU story in still in the early innings of playing out as evidenced by our recent checks and last night's results. ...With a "new normal" and still heavy remote workforce on the horizon for the foreseeable future, we believe this backdrop has markedly accelerated DOCU's ability to further penetrate existing as well as new customers." Atlantic Equities reiterates overweight rating on Robinhood Analyst John Heagerty said Robinhood 's user growth and monetization of its user base warrants its bullish outlook on the stock trading platform. "Our Overweight recommendation on Robinhood is predicated on continued strong user growth and increasing monetisation of that user base as the firm builds out its product portfolio. Further out, Robinhood has the opportunity to potentially treble its pre-tax margin, which will reinforce earnings growth as user onboarding slows." Raymond James reiterates underperform rating on Coinbase The firm maintained an underperform rating on the cryptocurrency exchange and said it's watching competition in the crypto space. "Over time, increased competition has generally led to pricing compression for publicly-traded exchange and brokerage businesses in our coverage universe. Given this backdrop, we believe it's important to keep an eye on Coinbase's competitors although we note that crypto arguably remains in its early days in terms of user adoption and more competitors are likely to emerge." —CNBC's Michael Bloom contributed reporting.

Nvidia headquarters in Santa Clara, California, Feb. 23, 2021.

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Here are the biggest calls from Wall Street analysts for Friday, Sept. 3.