Here are Wednesday's biggest analyst calls of the day: Apple, Tesla, AMC, Urban Outfitters & more

Published Wed, Nov 10 20218:29 AM ESTUpdated Wed, Nov 10 20219:37 AM EST

Here are the biggest calls on Wall Street on Wednesday: JPMorgan reiterates General Electric as neutral JPMorgan kept its neutral rating on the stock after GE announced plans to break up the company on Tuesday. The firm says it sees a "flat stock" as the best case scenario. "Bottom line, prior attempts at portfolio 'value creation' have fallen victim to weak underlying details versus the historically positive narrative under the GE umbrella. Most spins tread water between announcement and consummation, but a flat stock is the best case to us — even the Bull math is less than 10% upside." Read more about this call here. Piper Sandler downgrades Casper Sleep to neutral from overweight Piper said in its downgrade of the sleep products company that it sees a cloudier outlook. "We are downgrading CSPR to Neutral and lowering our PT to $3.50 (0.25x 2022 sales) from $8 on concerns of continued revenue weakness for Q4 and into 2022." RBC downgrades Palantir to sector perform from outperform RBC downgraded the stock after its earnings report on Tuesday, mainly on valuation. "We are downgrading PLTR to Underperform after mixed 3Q results sent shares down 9% for the day. Our downgrade is based on: 1) government deceleration; 2) commercial deceleration (ex-SPACs, which we view as unsustainable); 3) lowered confidence in 30%+ growth; and 4) full valuation." Read more about this call here. Deutsche Bank upgrades General Electric to buy from hold Deutsche said in its upgrade of General Electric that the company's break up makes sense. "We have never fully understood the need for these businesses to sit together within one company — and we agree that shifting to three pure-play companies should bring better focus and paths to value creation for all three. We are fully on board with this plan and think this is an appropriate 'end game' for what has turned out to be a successful transformation." Read more about this call here. UBS reiterates Apple as buy UBS kept its buy rating on shares of Apple and said in a note to clients on Wednesday that iPhone "wait times reflect both supply chain headwinds and solid demand." "For over four weeks, wait times for the 13 Pro and 13 Pro Max have not changed. We believe the elevated wait time is largely due to both strong demand and supply constraints." Goldman Sachs reiterates Coinbase as buy Goldman raised its price target on Coinbase to $387 from $337 per share after its earnings on Tuesday and said it's "one of the best ways to get exposure to the expansion of the crypto ecosystem." "While shares will likely give back some of their recent strength heading into the quarter, we see a number of reasons to be positive as 1) subscription services continues to grow rapidly, largely led by staking, and should beneﬁt across the board in 4Q from the recent increases in crypto prices, 2) the company was optimistic about the opportunity for its upcoming non-fungible-token (NFT) platform, which the company noted it believes could be as large as the opportunity in traditional cryptocurrencies." Bank of America raises price target on Tesla to $1,200 from $1,000 Bank of America reiterated its neutral rating on the stock but raised its price target to $1,200 per share. The bank said it sees further upside. "As has proven the case for TSLA over the past decade plus, the higher the upward spiral of stocks for the EV OEMs, the cheaper capital becomes to fund growth, which is then rewarded by investors with a higher stock price. The inverse of this dynamic is also true, and it is this self-fulfilling framework that has explained the extreme moves in TSLA stock in the past, and it is a helpful framework to think about how start-up EV automaker stocks may trade in the future." Read more about this call here. Benchmark reiterates AMC Entertainment as hold Benchmark kept its hold rating on shares of the movie theater chain after its earnings report on Monday and said it has enough liquidity to "persist and deleverage." " AMC delivered a better than consensus F3Q21 financial results. We approximate the vast majority of their shareholder base is retail investors. The current valuation versus their peer group remains at extreme levels. AMC has raised nearly $2B of liquidity, which should allow them to persist and deleverage." William Blair downgrades Poshmark to market perform from outperform William Blair said in its downgrade of the online buy-and-sell fashion company that it sees a cloudy outlook due to the IDFA (Identifier for Advertisers) which is a device identifier assigned to a user's device . "We are downgrading shares of Poshmark from Outperform to Market Perform despite our overall positive bias on its differentiated model for the following reasons. First, the Identifier for Advertisers (IDFA) seems to be having a more pronounced impact on its business versus other companies on our coverage list as it is likely more reliant on targeted acquisition versus other some other consumer internet models." Deutsche Bank adds a catalyst call buy on Bath & Body Works Deutsche added a catalyst call buy idea on the stock and said the company is executing well. "We are adding BBWI as a Short-Term Catalyst Buy idea heading into 3Q. While the stock is up 22% over the last three months (vs. the XRT up 8%), we believe BBWI could move another leg higher as we anticipate strong results and go-forward guidance on top of tough compares." Deutsche Bank adds a catalyst call buy on Urban Outfitters Deutsche added a short-term buy idea on the stock and said it sees a favorable set-up. The firm kept its long-term hold rating. "We are adding URBN as a Short-Term Catalyst Buy idea heading into 3Q earnings given a favorable set-up in our view and underperformance of the stock over the past three months vs. peers." JPMorgan reiterates Home Depot as overweight JPMorgan said in a note to clients on Wednesday that it's bullish heading into Home Depot earnings next week. "Overall, as discussed in our early October group update, our stocks are running strongly into earnings given nearly everyone in our coverage is beating topline. The acceleration in October due to early holiday shopping and rising inflation has clearly helped our call." Deutsche Bank reiterates Target and Walmart as buy Deutsche kept its buy rating on shares of Target and Walmart. The bank said both companies are well positioned heading into earnings next week. "While TGT and WMT are not immune to the challenging supply chain and product cost inflationary environment, we believe they are better positioned relative to the broader competitive set due to their strong inventory positioning and more favorable port access (size and scale matters, after all), long-term freight contracts, and newly chartered vessel capacity." Gordon Haskett downgrades DoorDash to hold from buy Gordon Haskett downgraded the delivery company mainly on valuation. "Since launching coverage back in August with a Buy rating, a key pillar of our thesis was that DoorDash has ample runway ahead in terms of international expansion that should drive upward revision in coming quarters/years. This appears to have come sooner than expected and we are taking advantage of the 30+% share price appreciation since we launched coverage and are moving to a Hold rating and lowering our price target to $233 from $243." Argus upgrades Booking Holdings to buy from hold Argus said in its upgrade of the online booking company that it sees the strength in travel ramping up. "We have a favorable view of online travel companies, and particularly of BKNG given its focus on Europe, where it generates most of its gross profit." Evercore ISI initiates a negative tactical underperform on Walmart Evercore kept its in line rating on shares of Walmart but added a negative tactical underperform call heading into earnings next week and says it sees "increased margin headwinds and macro risks." "While we expect 3Q earnings will be good, we believe management is likely to keep their full year guidance unchanged (midpoint $6.28) due to increased margin headwinds and macro risks. A beat, not raise quarter suggests the street's 4Q earnings estimate of $1.48 has modest downside. With the stock having run up 7% in the past month, we think the stock is more likely to fade the news rather than break out to new highs."

Pedestrians pass in front of an Urban Outfitters store in New York.

Scott Mlyn | CNBC

Here are the biggest calls on Wall Street on Wednesday: