Here are Thursday's biggest analyst calls of the day: Amazon, Deere, Square, Uber & more

Published Thu, Nov 18 20218:38 AM ESTUpdated Thu, Nov 18 202110:10 AM EST

Here are the biggest calls on Wall Street on Thursday: Morgan Stanley raises price target on Roblox to $150 from $88 Morgan Stanley raised its price target on the stock to a Street high and said it's the "metaverse leader" "We come away from RBLX's 3Q and analyst day incrementally bullish on its early metaverse leadership and higher long-term monetization as it invests to improve its user experience, developer tools, and ability to onboard brands." Read more about this call here. JPMorgan downgrades Activision Blizzard to neutral from overweight JPMorgan downgraded the stock to due to uncertainty over reports on sexual misconduct allegations at the company. "We are moving to a Neutral rating on ATVI from Overweight. While we are reluctant to downgrade after the stock has already underperformed (-23% over the prior 3 months vs. S & P +5%), and we still have longer-term conviction in its pipeline and brands, we think recent negative headlines introduce a significant amount of uncertainty into this story." Read more about this call here. JPMorgan upgrades Boeing to overweight from equal weight JPMorgan said in its upgrade of the stock that it sees a favorable risk/reward. "We have been cautious on BA all year and Boeing (and therefore BA stock) is not out of the woods; however, there is a fairly defined catalyst path and the first of these – China's MAX certification – is now in view. With other potential catalysts over the next year, we upgrade BA to OW, with a Dec-22 price target of $275." Bank of America reiterates Target as a top pick Bank of America kept its buy rating on shares of Target after the company's earnings report on Wednesday and said investors should buy the dip. "We view today's stock pullback as a particularly attractive opportunity." Read more about this call here. Morgan Stanley names TJX Companies a top pick Morgan Stanley named TJX Companies its top pick after the off-price retail store's strong earnings report on Wednesday. "Market share gains combined with strategic pricing actions could yield 2023 EBIT margin at least in line with 10.6% reported in 2019. Surgical pricing initiatives (increases) which commenced in 3Q appear likely to continue 'over the next few years'. We see a high probability these actions could offset inflationary cost pressures from elevated freight expenses (2022) and future increases in store wages, similar to 2Q and 3Q." Jefferies reiterates Amazon as buy Jefferies kept its buy rating on shares of Amazon and said the stock is well positioned heading into the holiday season. "We believe our entire e-commerce coverage ( AMZN , EBAY, ETSY) is well positioned to weather supply chain disruptions and see ETSY as a potential beneficiary, given excess supply." Cowen names Lululemon, Dick's Sporting Goods and Target top holiday picks Cowen named several retail companies as top picks for the holiday season and said the stocks are "share gainers." "Valuations are reasonable as FY2 EPS estimates remain in an upward trend and valuations on FY2 P/E are below early 2021 levels. Pricing/ AUR (average unit retail) should balance freight headwinds. Our top picks for EPS revisions as the holiday season share gainers - LULU, DKS , M, TGT, BOOT." Credit Suisse reiterates Nvidia as outperform Credit Suisse reiterated Nvidia as outperform after the company's strong earnings report on Wednesday. "While the stock is currently trading at 70 times CY23 EPS, TAM expansion provides ample opportunity to grow into the valuation and a path to > $10 of EPS by is relatively easy to envision. Risks include adoption, rising rates, and crypto in 2HCY22." Morgan Stanley upgrades Oatly to overweight from equal weight Morgan Stanley said in its upgrade of the oats company that it has an "attractive valuation." "We are upgrading OTLY to OW despite lower estimates, as valuation has compressed too much even after recent revenue disappointments on supply issues, particularly in light of still robust consumer demand. Oatly now screens as ~50% undervalued relative to high growth peers and in our DCF analysis." Bank of America reiterates Deere as buy Bank of America kept its buy rating on shares of Deere and said it sees a "modest relief rally" coming after the company agreed to a new contract with its union. "That said, the stock is up 7.2% since the strike began vs the S & P500 +5.6%, due partly to the federal infrastructure bill, a 7% rally in Dec-22 corn futures, and expectation of a fairly quick resolution. We would not be surprised to see additional worker strikes at other industrial companies over the next 12-18 months as production workers have leverage in the current environment that is riddled with labor shortages and supply chain challenges amid record earnings. UBS initiates coverage of Square as buy UBS said it sees more room for the mobile payment company's stock to run. "We are initiating coverage of Square with a Buy rating and $322 price target, offering 38% upside potential, based on our view that Square will exceed Street gross profit estimates in the near-term." JPMorgan upgrades GoPro to overweight from neutral JPMorgan said in its upgrade of the stock that it sees increasing revenue visibility. "We are upgrading GPRO from Neutral to Overweight on strong execution, underscored by the pivot to DTC, respective high sub attach rate on GoPro.com, and increase in prices, all of which are driving gross margins structurally higher, increasing revenue visibility, smoothing out revenues in the longer term, and ultimately driving record FCF in 2021, which is on pace to be greater than the cumulative FCF performance since IPO." Read more about this call here. UBS upgrades Visa to buy from neutral After a change in analyst coverage, UBS upgraded the credit card company and said it's "well positioned for continued solid growth." "We believe Visa's current valuation at 29 times our 2022E EPS does not fully price in potential low-teens revenue and high-teens EPS gains, over the next 5 years, and overstates threats from regulation and disruptive technologies." Morgan Stanley initiates coverage of Elanco and Zoetis as overweight Morgan Stanley initiated coverage of several animal health stocks on Thursday and says it sees robust "secular tailwinds." "We are positive on Animal Health based on powerful secular tailwinds and the absence of many risks affecting human healthcare industries. We favor stocks more diversified by species, product category, and geography, with Zoetis our Top Pick. Overweight ZTS, ELAN , IDXX." DA Davidson initiates coverage of CrowdStrike as buy DA Davidson gave the cybersecurity company a buy rating and said it has a large and expanding total addressable market. "We are initiating coverage of CrowdStrike Holdings, with a BUY rating & $320 PT, which equates to 38x EV/FY23 rev. Our investment thesis is based on their superior cloud-native technology that has significant networks effects driving sustainable competitive advantages, a large & expanding TAM, multiple drivers to sustain high rates of growth, and significant operating margin expansion that is likely over the next several years." JPMorgan upgrades Endeavor to overweight from neutral JPMorgan said in its upgrade of the talent agency holding company that it has increased conviction in the stock. "The main headwind remains a lock-up expiry, which on October 26 freed up around half of 346m shares that weren't free to trade already, with the remainder coming through ratably over the next five to six months. ... EDR recently reported strong Q3 results ahead of expectations with upside coming from all segments, with particularly strong results at UFC and WME, which further increases our conviction in the outlook. Morgan Stanley reiterates Sea Limited as overweight Morgan Stanley named Sea Limited a top tactical research idea. The firm said shares are compelling. "We believe the share price will rise in absolute terms over the next 30 days. This is because the stock has traded off recently, making short term valuation much more compelling." Barclays initiates coverage of Tilray as underweight Barclays gave Tilray an underweight rating and said investing in the stock to get exposure to the U.S. cannabis market is "convoluted." "We don't think the current valuations of the Canadian cannabis stocks are justified by the limited potential of the Canadian market. ... So investing in Canopy, Tilray or Cronos to get exposure to the US cannabis market is a convoluted investment proposition. Evercore ISI upgrades Hain Celestial to outperform from in line Evercore said in its upgrade of the food company that investors should buy the weakness. "We are upgrading Hain Celestial to Outperform from In Line and raise our base case price target to $48 (up from $46) after a recent meeting with the company. Hain stock is down 16% since November 10 after its largest shareholder, Engaged Capital, sold 12.4M shares due to closing a fund. We believe this dislocation has created an opportunity ahead of accelerating sales growth starting in fiscal F2H22." Morgan Stanley reiterates Uber as overweight Morgan Stanley said in a note to clients on Thursday that it's bullish on Uber' s new subscription service. "UBER announced a new unified subscription offering, Uber One. We see this lower priced, multi-product offering well positioned vs peers, sensitize potential upside to '23 bookings from adoption and show the quick payback for members."

An image from Google Maps shows the Amazon fulfillment center at 8003 Industrial Hwy, Carteret, NJ.

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Here are the biggest calls on Wall Street on Thursday: