Here are Friday's biggest analyst calls of the day: Tesla, Coinbase, Robinhood, GM, Nike & more

Published Fri, Sep 24 20218:26 AM EDTUpdated Fri, Sep 24 202111:21 AM EDT

Here are the biggest calls on Wall Street on Friday: Piper Sandler upgrades Salesforce to overweight from neutral Piper said in its upgrade of the stock that it sees disciplined growth and elevated margins. "We are upgrading CRM to Overweight from Neutral based on in-person conversations with new leadership over the last two days that give us confidence we could see a multi-year period of multiple and profit expansion tied to operating discipline and organic investments that can sustain growth." JMP reiterates Robinhood as market outperform JMP said in a note to clients that as competition intensifies, Robinhood continues to be a step ahead of its peers. "That being said, focusing on Robinhood specifically for this note, we remain constructive around its competitive positioning relative to many legacy incumbents and even many FinTech peers." Citi reiterates Dell as a top pick Citi said it's more bullish on the stock after Dell's investor day on Thursday. "Dell hosted an investor day on Thursday, Sept. 23 and provided a lot of details on key focus items for investors. We maintain Dell as our top stock pick and is on the U.S. Focus list with a target price of $130. On core metrics, we view Dell is trading at ~20-25% discount to its peers." UBS reiterates Nike as buy UBS kept its buy rating on the stock after Nike reported a disappointing earnings report on Thursday. The bank said it thinks supply chain issues will be resolved. "Nike's 1Q22 report was disappointing because it showed supply chain challenges are weighing more heavily on Nike' s near-term earnings than expected. Despite this, our view on the stock remains bullish since we think supply chain issues will get resolved soon and the long-term demand outlook is intact." Credit Suisse reiterates Tesla as a top electric vehicle pick Credit Suisse said Tesla is the best positioned company to capitalize on the electric vehicle market. The firm has a neutral rating on the stock. "The most obvious beneficiary from a brighter U.S. EV outlook is Tesla, which is the company in our coverage which is best positioned as a winner in an EV world. Simply, with greater consumer acceptance/feasibility of EV, it expands the pool of potential Tesla buyers." Goldman Sachs reiterates Exxon as buy Goldman said a "meaningful turnaround" is underway at the oil and gas giant. The bank kept its buy rating on the stock. "Among global majors, XOM has been the worst performing stock in the last ﬁve years, despite outperformance in 2021. Investors have been concerned by negative earnings revisions, particularly in Downstream; elevated capital intensity; and lack of clarity around the long-term strategy to reduce emissions intensity." Wells Fargo downgrades Roku to equal weight from overweight Wells said in its downgrade of the stock that it sees limited multiple expansion. "Combined with a pick-up in competition and high penetration of CTV, (connected television) we see limited multiple expansion. CTV is still a big secular growth market, but ROKU feels more fully valued." Read more about this call here. Citi reiterates General Motors as buy Citi said the automaker's investor day in early October should be a significant catalyst for the stock. "We continue to regard the upcoming Investor Day as a potential significant positive catalyst for the stock, as we see a number of paths for GM to address key debates and unlock trapped value. Jefferies upgrades Dave & Buster's and Cheesecake Factory to buy from hold Jefferies upgraded several restaurant stocks on Friday and said they are proving "more resilient than expected." "Upgrade BJRI, CHUY, CAKE, PLAY and RRGB to Buy, and reit Buys on BLMN & EAT as we are incrementally more positive on the full service category following delta/inflation sell-off and exuberant Consensus forecasts reigned in.' Goldman Sachs adds Thermo Fisher to the conviction buy list Goldman added the stock to its conviction buy list and said it sees a "valuation discount." "We now have strong confidence the company can hit HSD (high single digits) growth, a material step up from their historical growth rate, a level we see as highly achievable and above sector peers, 2) TMO is experiencing multiple growth drivers across their end markets from robust funding in biopharma and academic/government, a cyclical rebound in industrial and continued pent up demand for their instrumentation." Deutsche Bank names Delta Air Lines as a catalyst call buy idea Deutsche added a short-term buy idea on the airline stock and said bookings have finally stabilized. "As such, we launch a short-term catalyst call Buy on DAL . Our confidence in our thesis has been bolstered by the fact that bookings have recently stabilized and are starting to turn up, partly boosted by strong demand for the year-end holidays." Bernstein names Northrop Grumman as a top defense pick Bernstein named the aerospace and defense company as a top pick and said it likes Northrop's exposure to the defense budget. "We have seen Northrop Grumman as an attractive investment opportunity based on exposure to higher growth portions of the U.S. defense budget. After a recent pullback in the stock, we now consider NOC to be our top pick in defense, with 32% upside to our target." Needham reiterates Coinbase as buy Needham kept its buy rating on the crypto company and said it expects further volume growth. "We view Coinbase as an attractive way to play the growing crypto asset universe, which includes overlap in the high growth areas of stablecoins, decentralized finance (DeFi), non-fungible tokens (NFTs), borrow/lend applications, and "yield farming." We expect Coinbase to grow its trading revenue as the market-leading, fiat-crypto on-ramp in the quickly growing crypto ecosystem." Wells Fargo reiterates Boeing as neutral Wells Fargo said it's still "too early" to get positive on the stock. "We expect BA' s delivery outlook to slip to the right given low recent 737 MAX/787deliveries. The stock remains most levered to the post-COVID recovery in our coverage universe; however, we remain cautious as we think expectations can still move lower." JPMorgan reiterates Eli Lilly as a top pick JPMorgan kept its overweight rating on the stock and said it's one of the best-positioned growth stories in the firm's coverage. "Following meaningful outperformance YTD (+39% for LLY vs +20% for the S & P 500), LLY shares have pulled back over the past month (down 13% since August 23 vs -1% for the S & P 500) and we are revisiting our core thesis. Overall, Lilly remains the best-positioned growth story in our coverage and one of our top picks."

The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, March 16, 2021.

Rebecca Cook | Reuters

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