Here are Tuesday's biggest analyst calls of the day: Apple, Amazon, Dow, Walmart, Microsoft & more

Published Tue, Sep 14 20218:27 AM EDTUpdated Tue, Sep 14 202112:54 PM EDT

Here are the biggest calls on Wall Street on Tuesday: Goldman Sachs reiterates Apple as neutral Goldman kept its neutral rating on the stock ahead of its new products event on Tuesday and said the most interesting takeaway will be from the iPhone and Watch pricing. "As we prepare for Apple 's likely announcement of new products this week we provide a few thoughts from the investor perspective. Although we don't expect major pricing changes we see iPhone and Watch pricing as the most interesting ﬁnancial takeaway from the event." Piper Sandler reiterates Coinbase as overweight Piper kept its overweight rating on shares of the crypto company and said the sell-off is "overdone." " COIN' s share price has lagged crypto prices in 3Q21. Despite holding an 86% correlation to the price of bitcoin since the company's IPO, COIN shares have fallen 4% QTD while bitcoin's and ether's prices have risen ~28% and ~43%, respectively, QTD." Read more about this call here. UBS reiterates Virgin Galactic as neutral UBS lowered its price target on shares of Virgin Galactic to $26 from $38 and said things are progressing slower than the firm hoped. "We were expecting a lull in operations after the Branson flight, but things are progressing slower than we would have hoped. On Friday, the company pushed out its next powered flight to mid-October (at the earliest) to accommodate a potential supplier part issue that needed to be looked at." Read more about this call here. Stephens initiates coverage of Vizio as overweight Beginning its coverage of the electronics television company, Stephens said it's bullish on Vizio's advertising revenue opportunity. "We are initiating coverage with an OW rating on VIZIO a beneficiary of the proliferation of connected TV. As linear TV advertising spend fully transitions to CTV (connected TV), we expect CTV ad spend to climb from $9 bil. in F20 to $72 bil. over time. Additionally, we believe performance marketers currently allocating ad spend to search/social will divert a portion of the $134 bil." Evercore ISI raises price target on Amazon to $4,700 from $4,200 Evercore ISI raised its price target on the stock and said investors underappreciate Amazon's "dramatic" fulfillment capacity expansion. "We reit our Outperform rating & raise our PT to $4,700 in the wake of recent analysis into Amazon's substantial fulfilment network expansion. Simply put, we believe investors under-appreciate the magnitude and meaning of Amazon's dramatic fulfilment capacity expansion— AMZN has grown its distribution capacity by more in 2020 and 2021 than in the entire prior 10 years put together!" Read more about this call here. Deutsche Bank reiterates Walmart as buy Deutsche kept its buy rating on shares of Walmart and said Walmart+ is finally gaining traction. "Following months of tepid Walmart+ trends, our latest survey points to an inflection in membership. Specifically, 25% of respondents stated they were subscribers of Walmart+, implying 32M U.S. households, which is up 400 bps from our January survey." Read more about this call here . Morgan Stanley raises price target on Microsoft to $331 from $305 Morgan Stanley raised its price target on the stock and said it sees an "attractive risk/reward." "Dividend increases have historically been announced in mid-September; we see potential for a 10%+ increase pushing the dividend yield to ~0.8%. Combined with high-teens EPS growth, this supports an ~20% total return profile at MSFT , framing an attractive risk/reward." Piper Sandler initiates coverage of Dow Chemical as overweight Piper said that it sees increasing cash flow for the chemicals company. " Dow has exhibited significant financial restraint, operational focus and consistent strategic direction since the emergence, qualities it sorely lacked prior to that point. As a result, Dow has been able to take advantage of the robust industry conditions to attack its pension funding, debt levels and maintain its strong dividend even during the early days of COVID in 2020." Atlantic Equities upgrades CME to overweight from neutral Atlantic Equities said in its upgrade of the global markets company that it has "earnings power." "August volumes were mixed for all three companies and were particularly disappointing at CME r elative to our more bullish expectations. However, we continue to view CME's earnings power in a favorable light, based on growth in Treasuries outstanding and prospects for economic recovery in FY22." Bernstein reiterates FedEx as outperform Bernstein restated its outperform rating on the shipping giant ahead of its earnings report next week and said labor cost may mute near-term results for FedEx. "Prior to the close of the quiet period, the company was pretty clear that cost pressures this year are front-end loaded and it is now consensus to expect a miss in the first quarter. Exactly how much remains with this company a bit of a shot in the dark, with our 1Q estimate moving 9% lower to $4.86/share." Barclays reiterates Nike as overweight Barclays lowered its price target on shares of Nike to $194 from $197 and said investors need to be patient with the company's coronavirus-related supply chain issues in Vietnam. "We believe up to one month of NKE 's FY1Q22 manufacturing capacity (not necessarily sales) may be impacted. We note that longer leads times could push out the actual inventory shortage impact on reported sales to spring 2022, well beyond the critical fall/holiday season." Wells Fargo adds Constellation Brands to the signature picks list Wells added the stock to its signature picks list and said it sees an attractive risk/reward. " STZ offers attractive valuation into a growth story, with near-term results likely to be fine and longer term drivers intact. That's rare in Staples - where either low valuation is for a good reason, or growth stories are already being rewarded in premium valuations." Susquehanna downgrades Applied Materials to neutral from positive Susquehanna said in its downgrade of the stock that the good news is "already dialed in." "Our rating changes are driven by earnings momentum and risk/reward profile from here on and should NOT be interpreted as a cycle call. Given all the various moving parts, we simply don't know enough to call a downturn. But, there is incremental confidence on earnings momentum; the beat-and-raise cycle for AMAT, LRCX, and AEIS is already behind us with all the good news already dialed in." Citi adds Petco to its focus list Citi added to the stock to its small-and-mid-cap focus list and said it likes the company's digital strategy. "While newer to the public markets this time around, Petco dates back to the mid-1960s and has a solid previous track record as a public company. Now, a newer management team has revitalized the company's strategy to incorporate digital while broadening out the product lineup."

A shopper who refused to wear a mask is seen leaving a Walmart store in Bradford, Pennsylvania, U.S. July 20, 2020.

Brendan McDermid | Reuters

Here are the biggest calls on Wall Street on Tuesday: