Here are Wednesday's biggest analyst calls of the day: Costco, Penn, Ford, Joby, Lyft, Pfizer & more

Published Wed, Feb 9 20228:38 AM ESTUpdated Wed, Feb 9 202210:20 AM EST

Here are the biggest calls on Wall Street on Wednesday: Morgan Stanley reiterates Joby Aviation as overweight Morgan Stanley reiterated its buy rating on the aerospace company and said its partnership with Uber will elevate growth. " Joby' s partnership with Uber stemming from their acquisition of Uber Elevate, offers Joby a potential user base of ~93mn as soon as it launches commercialization of service." UBS reiterates Lyft as buy UBS kept its buy rating on shares of Lyft after the company's earnings report on Tuesday and said it's "bullish on revenue and margin ramp ahead." "We see an attractive buying opportunity for Lyft on omicron-related weakness." Evercore ISI adds Canada Goose to the tactical outperform list Evercore added a tactical outperform rating on shares of Canada Goose. The firm said the stock is poised to outperform over the next few quarters. "Given our bullish medium- and long-term outlook for Canada Goose and the results of some recent channel checks we conducted, both of which contrast starkly against the negative sentiment and recent stock underperformance, we are initiating a Tactical Outperform rating on GOOS shares." Nomura downgrades General Motors to neutral from buy Nomura said in its downgrade of General Motors that "cost clouds are on the horizon." "However, in the near term, we expect the transition to EVs to limit profit growth for the reasons mentioned above, and thus we downgrade the stock to Neutral." Read more about this call here. Citi reiterates General Motors as buy Citi kept its buy rating on the automaker and said the company is "under-earning." "Our conclusion is that not only is GM not over-earning this year, but is actually quite likely under-earning. What's the Street missing? That GM actually has fairly easy relative price/mix comps due to being in the lower point of its product cycle. We estimate this opportunity is worth ~$3bln over the coming years. Bank of America reiterates Nvidia as buy Bank of America reiterated its buy rating on shares of Nvidia and said it's bullish heading into earnings next week. "Reaffirm Buy, top large-cap pick on NVDA ahead of FQ4 (JanQ) EPS results on Wed., Feb. 16, and perhaps even more important its upcoming GPU Tech Conference/Analyst event Mar 21-24." JPMorgan downgrades Big Lots to underperform from neutral JPMorgan said in its downgrade of Big Lots that the stock is a "notable underperformer." "Low-End Non-food Discretionary: rising concern tied to rising inflationary pressure: Downgrading BIG to UW." Read more about this call here. JPMorgan reiterates Peloton as overweight JPMorgan kept its overweight rating on shares of the fitness company after it announced earnings and leadership changes . The firm said it's "incrementally positive" on the path forward. "But we continue to believe there is secular growth in connected fitness, and Peloton will be the leader in the space as pandemic pull-forward effects subside." Morgan Stanley reiterates Shopify as equal weight Morgan Stanley kept its equal weight rating on shares of Shopify, but the firm said the stock is starting to look increasingly attractive. "With an expanding solution portfolio and recent ~50% pullback, SHOP looks attractive, but the lack of metrics makes conviction difficult." Bank of America reiterates Harley-Davidson as a top pick Bank of America kept its buy rating on shares of the motorcycle company after its earnings report and said "demand momentum is offsetting supply challenges." " Harley-Davidson (HOG) reported 4Q21 adj. EPS of $0.15 (vs. our -$0.32) led by a 53.7% increase in motorcycle and related revenue. HOG U.S. retail unit sales were well ahead of expectations and increased 9.2%." Bernstein reiterates Virgin Galactic as market perform Bernstein lowered its price target on shares of Virgin Galactic to $10 per share from $22. The firm said it's concerned about the company's access to capital. "With the stock down over 80% vs. prior peaks of ~$55-60 in February and June 2021, we view staff retention and access to capital as potential risks." Read more about this call here . Susquehanna upgrades Penn National Gaming to positive from neutral Susquehanna said in its upgrade of the stock that it thinks the company's digital segment can "inflect positively." " PENN is a stock with a steady regional land-based casino portfolio whose most sensitive value driver is linked to the success of its emerging digital offering, which we think has been de-risked at current trading levels." Bank of America reiterates Ford as buy Bank of America kept its buy rating on shares of Ford and said it's bullish as the company begins to execute its Ford+ plan. "Simply put, Ford is just beginning to execute its Ford+ plan that is analogous to our Core to Future framework, by which it will strengthen core business pillars to fund its future business. This is just the beginning of a transition that should result in a much larger and more profitable Ford." Piper Sandler reiterates Chipotle as overweight Piper Sandler reiterated its Street high price target of $2,600 per share after the company's earnings report . The firm said it has "incremental confidence" in Chipotle's ability to "extend the brand into smaller towns while maintaining its overall unit-level economic profile." "The company reported 4Q21 results reasonably in line with expectations on a top line and ahead of expectations on an operating-earnings basis." Atlantic Equities reiterates Costco and Walmart as overweight Atlantic Equities kept its overweight rating on shares of Costco and Walmart . The firm said it's extremely bullish on retail in 2022. "The post-holiday slowdown has led to concern over the post-pandemic normalization. We expect to see stronger traffic and sales as we transition into the new season and new selling occasions." Bank of America reiterates Pfizer as buy Bank of America said in a note to clients on Wednesday that it would be "aggressive buyers" of Pfizer stock at current levels. "Overall, we'd be aggressive buyers at current levels given 1) base business growth of 5% to 6%, which is near the top tier of Biopharma, 2) likely meaningful upside from Paxlovid sales as supply ramps." Daiwa upgrades Advanced Micro Devices to buy from outperform Daiwa upgrades the stock due to the "reset in share price" for AMD. "With AMD 's prospects looking good for 2022/2023, and the recent share-price decline, we move to a 1-Buy rating, from a 2-Outperform." Read more about this call here .

Customers carry their items after shopping at Costco in Washington D.C., May 5, 2021.

Ting Shen | Xinhua News Agency | Getty Images

Here are the biggest calls on Wall Street on Wednesday: