Here are Thursday's biggest analyst calls of the day: Apple, Tesla, Chipotle, FedEx, Netflix & more

Published Thu, Mar 17 20228:40 AM EDTUpdated Thu, Mar 17 20221:45 PM EDT

Here are the biggest calls on Wall Street on Thursday: Wells Fargo reiterates Bank of America as a top pick Wells said in a note to clients on Thursday that the banking giant is "uniquely positioned." "While we are not completely adopting the Fed's hawkish outlook in our models, we increase our BAC EPS given it has one of the best rate risk-reward profiles in our universe." Read more about this call here . Morgan Stanley reiterates McDonald's as overweight Morgan Stanley lowered its price target on shares of the fast food giant to $287 per share from $294, but says McDonald's shares are attractive. "We reduce our FY22 ests. by 8% assuming full year loss of profits from Russia/Ukraine and ongoing $50M/month payments to support local employees through rest of '22. In '23 ests. fall by 3%, assuming only the loss of profits but no further support cost. Even on lower EPS, shares screen attractive." Read more about this call here . Wells Fargo reiterates Nike as overweight Wells said in a note on Thursday ahead of Nike earnings next week that any headwinds are likely already priced in. "When the company reports, we expect a reiteration of the +MSD (mid-single digits) FY22 revenue outlook, but that investors will likely be left with questions at least in the NT (near term) around the European trajectory into FY23." Wolfe downgrades Capital One to peer perform from outperform Wolfe said that high gas prices might "exacerbate credit normalization headwinds." "The current > 50% increase in gas prices is notably higher than any increases we have seen in the last 30 years and may exacerbate post-Covid credit normalization headwinds to the extent gas prices remain elevate." Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's bullish on automakers such as Tesla to produce autonomous vehicles but that it will take longer than investors think. "We see tremendous potential for fully autonomous vehicles to transform mobility and save countless lives. We are bullish on AVs. Just not so fast. We feel investor expectations for near-term adoption/commercialization are too high." Barclays reiterates FedEx as overweight Barclays kept its overweight rating on the shipping giant but says the stock is a dilemma for many investors. " FedEx is likely the most debated stock across transports and oﬀers significant upside potential for those willing to challenge the status quo." Evercore ISI reiterates Netflix as in line Evercore ISI said the streaming company remains the leader in "content quality." "If Content is King, Netflix Wears the Crown: This is why we believe Netflix remains a Top Choice in any household's Streaming Bundle — among the power Streamers that watch Netflix, Disney+ AND Amazon Prime Video, Netflix continues to lead in content quality, with increasing ratings for the fourth quarter in a row, while Disney+ has declined for the fourth quarter in a row." Bank of America reiterates Eli Lilly as buy Bank of America said the biopharma company's obesity drug, tirzepatide, is underappreciated. " Lilly remains one of the highest quality names in Biopharma with near-term approvals of high-impact products (tirzepatide, donanemab, pirtobrutinib, lebrikizumab); based on updated forecasts for tirzepatide in obesity, we reiterate Buy and raise our PO to $315 from $300." Jefferies initiates Nokia as buy Jefferies said in its initiation of the stock that it's bullish on the company's 5G opportunity. "We initiate on Nokia (Buy) and Ericsson (Hold) and expect 2022 to be a strong year for both due to elevated U.S. C-band deployments and increased 5G rollouts in Europe Morgan Stanley upgrades Norwegian Cruise Line to equal weight from underweight Morgan Stanley said in its upgrade of the stock that it sees a more balanced risk-reward. "We see potential for NCLH stock to outperform as we move past Covid restrictions, with strong pent-up demand and pricing. However, risks include a potential Covid resurgence, high fuel prices & leverage, and exposure to Europe." Read more about this call here. Bernstein reiterates Apple as market perform Bernstein said that things are going to get more "challenging" for the company in China. "On net, we see risk-reward on Apple as balanced, with the stock trading at 26x EPS (a 32% premium to the market). We also believe Apple may see more muted earnings growth over the next several years following outsized growth during the pandemic." JPMorgan upgrades Ralph Lauren to overweight from neutral JPMorgan said sees a "revenue recovery opportunity" in Ralph Lauren. "We upgrade RL to Overweight with the macro-driven pullback providing opportunity to own a multiyear mid-teens (+) margin profile, reset distribution model exiting the pandemic, three-pronged revenue recovery opportunity and $1.4B net cash balance sheet." Read more about this call here. Piper Sandler reiterates Coinbase as overweight Piper Sandler said after a meeting with the company's management that the crypto exchange is well positioned to take advantage of the "rapidly evolving" crypto landscape. " COIN s dedicated focus to crypto and the surrounding ecosystem is a significant competitive advantage." Needham initiates Revolve Group as buy Needham said in its initiation of the online fashion designer that it's an "ultimate reopening play." "We initiate coverage of RVLV with a Buy and a $60 PT. With its unique influencer model, RVLV fits the bill, near term, as an ultimate reopening play." Read more about this call here. RBC upgrades CSX to outperform from sector perform RBC said CSX has an "interesting valuation." "We are upgrading CSX today, as valuation has dropped toward the lowest level relative to peers — mainly on the back of comparatively lower volumes and comparatively less favorable Q4 results." Bank of America reiterates American Express as buy Bank of America kept its buy rating on American Express, noting it sees more growth potential after attending the company's investor day. " AXP is focused on becoming more embedded within its existing U.S. SME customer base and is geared to seize on the secular shift from check to digital payments." Cowen reiterates Chipotle as a top pick Cowen kept its outperform rating on the Mexican chain restaurant, noting it sees upside to estimates. "Looking ahead, we are encouraged by Chipotle's symbiotic sales playbook focused on digital, social responsibility, menu innovation & loyalty to drive upside to 2022 comps."

Brian Niccol, CEO of Chipotle Mexican Grill

Adam Jeffery | CNBC

Here are the biggest calls on Wall Street on Thursday:

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