Here are Wednesday's biggest analyst calls of the day: Amazon, FedEx, Apple, Boeing, Disney & more

Published Wed, Sep 15 20218:20 AM EDTUpdated Wed, Sep 15 202110:06 AM EDT

Here are the biggest calls on Wall Street on Wednesday: UBS reiterates Apple as buy UBS says that the iPhone 13's battery could "quietly" drive demand. "However, we believe the key differentiator and driver of demand going forward could be the improved battery life of the series. ... .Coupled with the elimination of the 12 Pro/Max from the Apple line-up we believe improved battery life should drive consumer adoption of the 13 series." Read more about this call here. Wells Fargo initiates MGM and DraftKings as overweight Wells said in its initiation of coverage of MGM that it has significant upside potential. The firm also began coverage of DraftKings and said it's the most "attractive growth vertical." "Similar to many other digital industries, scale is key, and thus we favor the larger USSB (sports betting)/iGamingoperators over the comparatively smaller/still ramping platforms." Cowen reiterates FedEx as outperform Cowen kept its buy rating on FedEx ahead of its earnings report next week and said the peak shipping season could see "record demand." "August quarter remained strong, although we are seeing some delays in shipments, which we expect management to address. We are approaching the peak shipping season and expect to see ~50K new hires to handle what is likely to be record demand." Susquehanna reiterates Boeing as positive Susquehanna says the aerospace company faces several big catalyst that could boost the stock. "While Boeing continues to have some unanswered questions related to the ungrounding of the 737 MAX in China (still expects 4Q21), timing of the 787 fix, restarting deliveries, and the subsequent production reacceleration, we believe answers to these questions will serve as potential catalysts for the stock over the next several months." JPMorgan reiterates Disney as overweight JPMorgan said it sees signs of further growth and recovery since the entertainment giant's third-quarter earnings in mid-August. "We have observed several developments since earnings, including: 1) Star+ launched in Latin America on August 31, which is a potential driver of Disney + subs given its attractive Combo+ bundle pricing; 2) the parks continuing their recovery; and 3) Disney announced its commitment to exclusive theatrical releases for films slated through the end of 2021." Citi reiterates SolarEdge as top pick Citi kept the solar company as a top pick and said it sees solar activity ramping up. " SEDG remains our top pick across the solar space given the ramp of its storage product (backed by a supply agreement with Samsung) and the potential for a sharp rebound in commercial activity." Stifel upgrades Sea Limited to buy from hold Stifel said in its upgrade of the global consumer internet company that it has impressive growth. "Concurrent with our industry update, we are upgrading shares of SE to Buy. Sea Limited has executed exceptionally over the past few years, reporting impressive growth in eCommerce and digital entertainment users." Mizuho initiates SoFi as buy Mizuho initiated coverage of the online personal finance company with a buy and said it sees a cycle of " increased engagement, boosting revenue and profits." " SoFi is a onestop shop digital financial services firm that is in the midst of a powerful transition to a full-fledged mobile-first, super-app neo-bank with in-house nextgen issuing capabilities. We believe this could accelerate a virtuous cycle of increased engagement, boosting revenue and profits." Bank of America reiterates Nike as neutral Bank of America reiterated its neutral rating on the athletic retailer ahead of its earnings report next week and said it thinks the situation in Vietnam will cause order delays. " NKE' s exposure to Vietnam is well understood (51% of footwear production, 30% of apparel production) and most factories will likely prioritize orders for NKE given it is often the largest customer. That said, we see a risk that orders (likely late holiday or post-holiday) could be delayed. Deutsche Bank reiterates Palo Alto Networks as buy Deutsche Bank said the company is the "Salesforce" of cybersecurity. "We continue to believe Palo Alto Networks is a best-in-class security firm with a cash-cow firewall business, that will prove stickier than many expect." JPMorgan downgrades Chevron to neutral from outperform JPMorgan downgraded the stock mainly on valuation. "We are downgrading CVX to Neutral from Overweight, as we think that the company's premium valuation fully reflects its disciplined capital allocation. In some ways, we think that CVX is a victim of its own capital discipline success, as higher guided Energy Transition spending moving forward does not appear to have offsets elsewhere in the portfolio." Read more about this call here. Bank of America initiates Lucid Group as buy Bank of America said the electric vehicle company is "legitimate" and has similarities to Tesla and Ferrari. "As is the case with many AutoTech (EV) entrants, we do not anticipate material revenue inflection and EBITDA/FCF breakeven for LCID until 2024+." Read more about this call here. Bank of America reiterates Virgin Galactic as underperform Bank of America saidit remains concerned about the prolonged grounding as well as the company's culture. "Point blank, in our view, it is unacceptable to have an event during a flight that, per FAA regulations, is considered a mishap and then claim that the mission was a full success. The old adage, it's easier to ask for forgiveness than permission, generally is a poor strategy in aviation. The technology that SPCE uses is still experimental by any commercial aviation certification measure and requires test pilots Citi reiterates Amazon as a top pick Citi reiterated Amazon as a top pick and said the e-commerce giant has more upside and room for growth. " Amazon is our top Buy rated internet stock. We continue to see ample room for growth in Amazon's B2B services augmented by potential acceleration in markets outside the US." Jefferies reiterates Electronic Arts as buy Jefferies said the video game company is a top ESG play. "We view EA as well ahead its peers in both reporting and ability to show real results from its efforts. From its efforts to diverse its game characters, top-down approach to hiring and internal employee support, and enforcement/incentives, we see EA as best positioned to reap the benefits (better player engagement, lower developer costs, and lower headline risk). We applaud EA for its efforts and see it as an example for the industry to follow."

Boxes containing the Moderna COVID-19 vaccine are prepared to be shipped at the McKesson distribution center in Olive Branch, Mississippi, U.S. December 20, 2020.

Paul Sancya | Reuters

Here are the biggest calls on Wall Street on Wednesday: