Here are the biggest calls on Wall Street on Wednesday: Mizuho reiterates Robinhood as buy Mizuho kept its buy rating on shares of Robinhood but said its third-quarter earnings report may be "poorly received." "Although results were lackluster, there were a few positives which included progress on crypto wallet (1 million wait list sign ups), no early lock-up and more normalized equities/crypto revenue mix. William Blair reiterates General Electric as outperform William Blair reiterated its outperform rating on shares of General Electric after its earnings report on Tuesday and said the recovery in aviation is happening faster than expected. "GE's third-quarter earnings report grabbed investors' attention: a 42% increase in organic orders, adjusted EPS up 48% to $0.57 and well ahead of consensus forecasts of $0.43 despite flat sales that were 4% light due to supply chain disruption, free cash flow up 340% to $1.7 billion, and the recovery in aviation, GE's largest businesses, occurring faster than expected." Morgan Stanley reiterates Microsoft as overweight Morgan Stanley raised its price target on Microsoft to $364 from $331and said the company's earnings report on Tuesday was "impressive." "Sustaining 22% revenue growth at a > $180B run rate provides compelling evidence of solid secular positioning across the portfolio." Barclays reiterates Alphabet as overweight Barclays raised its price target on the internet giant to $3,300 from $3,200 after its earnings report on Tuesday. The bank said it is one of the best positioned companies in digital advertising. "The next few quarters are going to get much tougher for Google on top and bottom line (along with everyone in the space), and given the outperformance in 2021, we wouldn't be surprised to see shares trade sideways for a bit. Longer term, Google remains the best positioned company in digital advertising and one of our favorite names." Read more about this call here. BTIG initiates coverage of Roblox as buy BTIG said it sees several long-term growth drivers for the social media gaming company. "International platform expansion is the key driver of growth for Roblox over the medium to long-term that we have more visibility into today. We expect that Roblox will want to expand platform use cases both developers and users, but that's probably something we'll have a better sense for following the mid-November investor day." BTIG initiates coverage of Zynga as buy BTIG said that it sees a very compelling risk/reward for game developer Zynga . "We see a very reasonable long-term path to doubling the business and with a host of other growth opportunities in front of us, we like the current risk/reward, and are inclined to look through any choppiness from '22 marketing spend." Loop downgrades UPS to hold from buy Loop downgraded the stock after its earnings report on Tuesday and said it sees "diminished near-term upside." " UPS put up some good Q3 results on October 26 and seems as ready as it can be for peak season. Q3 results also rallied the stock close to our price target, which necessitates a rating change from Buy back to Hold." Read more about this call here. JPMorgan reiterates Twitter as overweight JPMorgan lowered its price target on Twitter to $86 per share from $90 after the company's earnings report on Tuesday and said it sees "continued brand strength." "Additionally, w/50%+ of YTD ad revs coming from services/digital goods, TWTR should be more insulated from ongoing macro supply chain issues. 3Q results were relatively in-line with expectations & brand advertising remains strong." Morgan Stanley reiterates Tesla as overweight Morgan Stanley said in a note to clients that Tesla's $1 trillion market cap is impressive and "garnering greater levels of enthusiasm from investors given its technological dominance vs. the established competition." " Tesla's $1tn milestone reflects a significant valuation premium vis-à-vis when Apple and Amazon achieved the same cap. At $1tn, Tesla trades at roughly 88x our forward year (FY22e) EBITDA estimate, assuming a $1,000 share price." Goldman Sachs raises price target on Tesla to $1,125 from $905 Goldman said in a note to clients on Wednesday that it's bullish on Tesla's partnership with Hertz announced earlier this week. "We believe this news is important for Tesla, and while the 100K order is material on its own, we also believe that it will help the company to sustain strong growth and margins when considering the order in the context of other dynamics." Read more about this call here. Atlantic Equities upgrades Abbott Labs to overweight from neutral Atlantic Equities said in its upgrade of the medical device and health care company that it sees more upside after the company's earnings report last week. " Abbott delivered strong 3Q21 results on 20 October 2021, and we were impressed with the strong execution in the underlying business as every division beat expectations." Jefferies downgrades Cloudflare to hold from buy Jefferies said in its downgrade of the website security company that it's waiting for a more attractive entry point. "We downgrade NET to Hold as it achieved our PT (raise to $195), with strong LT fundamentals reflected in valuation & we wait for a more attractive reentry point as it is still one of the most disruptive names we cover." Read more about this call here. Morgan Stanley reiterates Apple as overweight Morgan Stanley kept its overweight rating on shares of Apple after the firm's survey checks showed China smartphone demand is "surprising to the upside." "Our survey of 4,000 consumers in the US and China reads positively on two of the most important investor debates today, with China smartphone demand and App Store loyalty surprising to the upside UBS reiterates Apple as buy UBS kept its buy rating on shares of Apple and said its iPhone 13 wait-time checks show no sign of easing. "Utilizing UBS Evidence Lab data that tracks product availability across 30 countries, we compare iPhone 13 models to last year's iPhone 12 to gauge customer demand. Compared to last year, wait time or days until available are notably elevated across all four products (Pro, Max, Base and mini) and all of the key regions including the US, China, Japan as well as key markets in Europe."
The Twitter banner hangs at the NYSE.
Adam Jeffery | CNBC
Here are the biggest calls on Wall Street on Wednesday: