Here are the biggest calls on Wall Street on Thursday: JPMorgan reiterates Amazon as a top pick JPMorgan said in a note on Thursday that the stock is "compelling" heading into earnings next week. "However, we still believe AMZN becomes a cleaner story through 2022 & it remains our overall Top Idea. Shares are also trading below 13x 2023E EBITDA, which we believe creates a compelling opportunity." Bank of America reiterates Alphabet as buy Bank of America kept its buy rating on shares of the internet giant. The firm expects "moderate" revenue upside when Google parent Alphabet reports earnings on Feb. 1. "Our ad checks on search suggest Search growth deceleration in 4Q vs 3Q, but also suggest deceleration was less than in Street estimates." Bank of America reiterates Uber as buy Bank of America kept its buy rating on the ride-sharing company ahead of its analyst day in early February and said it sees improving profitability. " Uber stock underperformed in 2021 despite building a big Delivery business and making significant progress on profitability. Covid case counts have remained stubbornly high, delaying the Urban reopening, but we see an Urban Mobility recovery still ahead." Morgan Stanley reiterates Tesla as overweight Morgan Stanley kept its overweight rating on the automaker after its earnings report on Wednesday . The firm said it likes the company's growing cash flow. " Tesla was already the most profitable major auto company in the world, but is now emerging as the most cash flow generative auto company in the world (pound for pound) as production costs may be in position to further gap down with the introduction of new plants and radically new manufacturing techniques." Read more about this call here. Goldman Sachs reiterates Okta as buy Goldman said in a note to clients on Thursday that it sees "greater potential for upside" for the cloud-software company's shares. "Among these, we prioritize OKTA and TENB where our survey work and channel checks reﬂect greater potential for upside relative to expectations near term, in addition to potential mismatch of performance versus expectations long term." Piper Sandler upgrades ServiceNow to overweight from neutral Piper upgraded the cloud-computing software company and said it sees "strong fundamentals." "Subscription-billings acceleration and large deal strength punctuated a solid 4Q result for NOW , but we note FX headwinds drove a revenue result more in line with street estimates." JPMorgan names Bumble and Match top picks into earnings JPMorgan reiterated the dating app companies as overweight ahead of earnings later this quarter. The firm said it sees Match as more "de-risked." " BMBL is our top pick in 2022 given we see opportunity for its MTCH trading discount to narrow, but into 4Q earnings we view MTCH as more de-risked given less 2022 guide uncertainty." Mizuho initiates coverage of Mondelez as buy Mizuho said the food and snacks company is a "core holding" for staples investors. "Prospects for multiyear upside vs. the Street augur favorably for valuation in our view, as shares trade at a 15% discount vs. global Staples peers on CY22E EPS. We view MDLZ as a core holding for Staples investors." Citi opens a positive catalyst watch on American Airlines and United Airlines Citi added a positive catalyst watch for several airline stocks on Thursday and said it sees an "attractive" entry point. "Citi opens a 30-day positive Catalyst Watch on neutral-rated American Airlines and a 90-day, positive Catalyst Watch on buy-rated United Airlines. With omicron possibly subsiding and trans-Atlantic demand potentially perking up, these carriers' post-FOMC share price pullbacks seem to have created attractive entry points." Goldman Sachs upgrades Corning to buy from neutral Goldman upgraded the tech and specialty glass company after its earnings report on Wednesday. The firm said it sees "improving" fundamentals. "However, tight supply/demand dynamics and solid execution by Corning resulted in a Display revenue beat against our expectations and strong guidance for Q1. Read more about this call here . Needham initiates coverage of Planet Labs as buy Needham rated the Earth-imaging platform company a buy and said it sees accelerating top-line growth. " PL is a leader in next-gen Earth Observation (EO) with a fully operational ~200 satellite fleet capable of imaging 350mm sq. kilometers of area per day, or ~2x the earth's landmass, and a cloud-native analytics platform." Jefferies initiates coverage of Ambarella as buy Jefferies began coverage of the semiconductor design company. The firm said it sees "long-term upside" and that Ambarella is well positioned in the autonomous driving market. "We see opportunity for OpEx leverage; EBIT margin expansion from 19% in '22 to 21% in '23 with LT upside. Despite recent pullback, we note strong OCF (operating cash flow) generation and capital-allocation track record." Bank of America upgrades KB Home to buy from neutral Bank of America said in its upgrade of the homebuilder that the stock is cheap. "We upgrade KB Home to buy (from neutral) and lower our price objective to $53 (from $56). KB Home trades at the cheapest price-to-book valuation across our homebuilder coverage despite a return-on-equity that has improved to 25% from the low-double-digit range in the last two years." Read more about this call here. Bank of America downgrades Toll Brothers to underperform from buy Bank of America double-downgraded the homebuilder and said it's concerned about performance as interest rates rise. "We expect TOL to underperform on a relative basis vs. peers given we see Toll as more exposed to rising mortgage rates compared to other homebuilders given homeowners that are locked into a favorable fixed-rates mortgage are less likely to trade up to a new home if financing costs are higher." Read more about this call here. Goldman Sachs reiterates Amazon as buy Goldman said in a note to clients on Thursday that it's bullish heading into Amazon earnings next week. "In particular, while questions remain over the pace and cadence of online-shopping behavior in 1H'22 (as pandemic-driven demand normalizes), we still see Amazon well positioned to capitalize on a resumption of normalized e-commerce industry shifts." Evercore ISI boosts Clean Energy Fuels to outperform Evercore said in its double-upgrade of the natural gas company that it likes the stock's valuation. "That said, we've viewed recent valuation levels as looking increasingly attractive as it is clear CLNE is the largest CNG/LNG provider in the U.S. and was receiving too great a discount either to renewable fuels or R & M (refining and marketing) peers."
A display in Times Square is pictured as dating app operator Bumble Inc. (BMBL) made its debut on the Nasdaq stock exchange during the company's IPO in New York City, New York, U.S., February 11, 2021.
Mike Segar | Reuters
Here are the biggest calls on Wall Street on Thursday: