Here are Wednesday's biggest analyst calls of the day: Apple, Boeing, Amazon, Netflix & more

Published Wed, Mar 9 20228:34 AM EST

Here are the biggest calls on Wall Street on Wednesday: Goldman Sachs upgrades J.B. Hunt to buy from neutral Goldman said in its upgrade of the transportation company that it sees supply chain congestion easing for J.B. Hunt. "The principal driver behind the now above consensus EPS forecasts relates to a higher box turn forecast than originally modeled as we take into account our expectation for easing supply chain congestion over 2H2022 and into 2023 and the commensurate favorable impact to rail service, and in turn intermodal container productivity." Read more about this call here. Langenberg & Company initiates coverage of Boeing as buy Langenberg said that "defense is a cash cow." "Initiating coverage of Boeing with a BUY rating driven by an accelerating commercial aerospace recovery and expectations that international travel returns to 75-80% of norm by end of 2022." Morgan Stanley reiterates Apple as overweight Morgan Stanley kept its overweight on shares of the tech giant after it announced several product updates on Tuesday . The firm said the iPhone manufacturer remains its top pick. " Apple remains our Top Pick in IT Hardware given durable fundamentals, predictable cash flows, additional 2022 product launches, and platform stability in an otherwise uncertain and volatile market backdrop. Loop downgrades Domino's to hold from buy Loop said in its downgrade of the pizza stock that it sees near-term pricing pressures. "Raising DPZ's $5.99 price point may prove beneficial in the long-term but will likely negatively impact comps in the short-term; Downgrading DPZ to HOLD." Barclays reiterates Amazon as overweight Barclays kept its overweight rating on shares of Amazon and said it sees upward estimate revisions as "likely this year." "Retail margins are starting to show stabilization in 2022 and continued mix shift to higher margin business units like AWS and Ads, we see upward estimate revisions as likely this year." Truist downgrades Stitch Fix to hold from buy Truist said in its downgrade of the online personal styling company after its earnings report on Tuesday that its execution is "challenged." "While our LT thesis around the attractiveness of the SFIX membership model and expansion into direct buy continues to hold, we find the execution so far to be challenged. Jefferies adds Caesars to the franchise picks list Jefferies added the casino company to its top picks list and said it likes the company's execution. "Our conviction in the upside for CZR is based on both specific quantitative and qualitative factors. The management team's track record of execution and the company's issue-set are well-matched, in our view." JPMorgan downgrades Valvoline to neutral from overweight JPMorgan said in its downgrade of the stock that it's concerned about rising oil prices. "We continue to believe that the longer-term direction of Valvoline is the separation of the two businesses of Valvoline into a free standing Quick Change operation and a Global Lubricant business. However, oil prices have risen sharply: Brent prices were at $70/bbl at the end of November and today are about $130/bbl." Loop upgrades Dollar Tree to buy from hold Loop said in its upgrade of the stock that it's bullish on the company's management changes announced on Tuesday. "Our upgrade is based on yesterday's announcement Dollar Tree will reconstitute its board of directors, with former Dollar General CEO—and 'retail Mount Rushmore member'—Rick Dreiling becoming Executive Chairman." Read more about this call here. Bank of America downgrades PayPal to neutral from buy Bank of America said in its downgrade of the payments stock that it's too "difficult" to recommend right now. "2022 is a transition year, as PYPL pursues a strategic pivot, emphasizing average revenue per user (ARPU) over net new customer adds, while coping with ongoing pressures from inflation and supply chain dynamics." Read more about this call here. Oppenheimer upgrades Booking Holdings to outperform from market perform Oppenheimer said in its upgrade of the online travel agency service that investors should buy the dip. "We believe BKNG investing aggressively into the recovery will yield higher share gains to sustain a low 20's P/E multiple and believe looser international restrictions should drive a faster travel recovery, offsetting pockets of geo-political volatility." Piper Sandler initiates coverage of Palantir as overweight Piper Sandler said in its initiation of the software company that "high growth is likely to continue." " Palantir is improving its customers' operational effectiveness by combining software, AI, and data into powerful, central IT solutions. These solutions leverage data across traditional silos, while adding decision frameworks to improve operational decisions. We also believe the Ukraine war could be an accelerator of adoption among U.S. and international government customers. Piper Sandler upgrades Dollar Tree to overweight from neutral Piper Sandler said in its upgrade of the stock that the "pieces are in place for a multi-year improvement story." "We are upgrading shares of DLTR to OW from Neutral and raising our PT to $181 following news that the Board had been reconstituted and former Dollar General CEO Rick Dreiling has been named Executive Chairman." Read more about this call here. BMO upgrades Match and Bumble to outperform from market perform BMO said in its upgrade of Match and Bumble that the dating app stocks are "well positioned for [the] current macro environment." "We think online dating should come back into favor as COVID moves from pandemic to endemic and dating app usage begins to stabilize after being extra sensitive to mobility restrictions." Read more about this call here. Bank of America reiterates CrowdStrike as buy Bank of America kept its buy rating on the cybersecurity company and said it's bullish heading into earnings on Wednesday. " CrowdStrike is set to report 4Q results on March 9, 2022, and we expect another strong quarter, similar to that of 2Q and 3Q, with growth in ARR (annual recurring revenue) and subscription revenues, which should continue to trend up as a percentage of total revenues." Wedbush upgrades Netflix to neutral from underperform Wedbush said in its upgrade of the streaming giant that the company has a "nearly insurmountable competitive advantage." "While we do not anticipate significant share price appreciation in the near-term, Netflix's first-mover advantage and large subscriber base provides the company with a nearly insurmountable competitive advantage over its streaming peers."

CrowdStrike's initial public offering at the Nasdaq on June 12, 2019.

Source: Nasdaq

Here are the biggest calls on Wall Street on Wednesday: