Here are Friday's biggest analyst calls of the day: Amazon, Netflix, Microsoft, Tesla & more

Published Fri, Mar 18 20228:29 AM EDT

Here are the biggest calls on Wall Street on Friday: UBS upgrades MongoDB to buy from neutral UBS said the cloud database company has a competitive advantage over peers. " MongoDB is benefiting directly from the mega-trend to build new applications using a micro-services architecture, solidifying our view that MongoDB is a play on the apps modernization mega-trend." Read more about this call here. Morgan Stanley reiterates Tesla as overweight Morgan Stanley reiterated its overweight rating on the automaker after Elon Musk tweeted that he was "Working on master plan part 3." The firm said in a note to clients that it sees "Part 3 as mass industrialization, a network flywheel and 'connecting the dots' across adjacent TAMs." "In short, if Tesla' s share price were to multiply from here, we believe it will have rather little to do with the core business of making and selling cars in the traditional model so familiar to auto analysts." Citi adds Lam Research to the focus list Citi added the semiconductor and wafer fabrication company to its focus list, saying it sees an attractive risk-reward outlook for the stock. "We are adding Lam to the US Focus List, which is reserved for stock's that screen attractive on ETR (estimated total return), valuation, consensus crowding and risk-reward." Baird reiterates Nike as outperform Baird said the risk-reward outlook for Nike is improving heading into earnings next week. "While NKE was a lower-conviction Outperform-rated idea entering 2022, we believe sentiment increasingly embeds global macro concerns. We expect NKE to deliver in-line or better FQ3 results and to express a positive view of category demand." Oppenheimer upgrades Tractor Supply to outperform from perform Oppenheimer said in its upgrade of the stock that it sees a "higher level of sales and profitability." " TSCO represents one of the best run, most optimally-positioned, still expanding retail chains, within discretionary. We have long highlighted the company's underlying structural prowess and its unique model." Bank of America upgrades Garmin to buy from neutral Bank of America said the "growth story is not over" for the tech company. " GRMN was a clear beneficiary of Covid with consolidated revenue growth of 11% in 2020 and 19% in 2021. However, as Covid evolves into an endemic we do not think the growth story for GRMN is over." Read more about this call here . UBS downgrades Cummins to neutral from buy UBS said in its downgrade that too many near-term risks are building for Cummins. "Beyond the cycle playing out in 2023, risk/reward is now more balanced over the nearer term as well. In 2022, we expect higher manufacturing and logistics costs, slower orders, extended risk of supply chain challenges and economic risk in Europe." JPMorgan reiterates Netflix as a best idea JPMorgan said in a note to clients on Friday that Netflix continues to balance "growth & profit effectively." "Secular Shift, Strong Content, Distance From Pandemic Pull-forward, & Material FCF in 2022." JPMorgan reiterates Amazon as a best idea JPMorgan said it sees expanding margins for the e-commerce giant. "Secular Shift, Easing Comps, & Return on Recent Heavy Investments Position AMZN Well in 2022." JPMorgan reiterates Microsoft as overweight JPMorgan said in a note to clients on Friday that Microsoft is a "deflationary force." "Breadth of traction across the portfolio; deflationary force in an inflationary economy; new vectors of growth around the Power Platform, Teams and Teams Phone and Security; aligned to the metaverse and quantum computing." Jefferies initiates RealReal, Rent the Runway and ThreadUp a buy Jefferies initiated several resale retailers, noting they should be inflation beneficiaries. "We believe resale co's ( REAL, TDUP , POSH) and RENT will benefit from the current inflationary environment given their value propositions." Read more about this call here. Credit Suisse reiterates Nvidia as outperform Credit Suisse said the "bull thesis is intact" heading into Nvidia's virtual analyst day next week. "YTD NVDA is down 19% vrs. SOX of –17% and SPX of –9% - against the backdrop of the current Semi cycle and a volatile geo-political environment, high multiple stocks have been negatively impacted by a market grappling with higher rates." Piper Sandler downgrades Wingstop to underweight from overweight Piper said in its double downgrade of the stock that it expects shares of the chicken wings restaurant franchise to experience "resistance" in the near term. "We fully understand and respect the recent executive shift with no material concern, or impact on this assessment. We do, however, expect WING shares to experience resistance in terms of garnering the same premium multiple in the face of a restaurant industry expansion cycle." Read more about this call here. Raymond James upgrades Allstate to strong buy from outperform Raymond James said Allstate shares are undervalued. "We expect management's aggressive approach to rate increases and improving auto profitability to be a catalyst for the relatively undervalued stock. We also believe previous strategic decisions have been overlooked even though there are potential longer term positive consequences for the company's competitive position and ROE profile." Piper Sandler downgrades Joann to neutral from overweight Piper downgraded the fabric retailer on the back of its earnings report, saying it sees gross margin headwinds. "While JOAN isn't guiding for CY22, we are downgrading for the following reasons: Sales outlook for CY22 looks unfavorable as comp trend has stepped down an add'l -5% in recent weeks; Gross margin should face headwinds from contracted ocean freight rates well into CY23." JPMorgan reiterates General Electric as neutral JPMorgan said it has "higher conviction" in the stock after the company's analyst day earlier this month. "The GE investor day reinforced many of our views on the numbers, mostly around consensus estimates that remain too high, with bottom-up assumptions embedded in a largely unchanged outlook that look optimistic, especially as the global environment gets more volatile as per the slow start to 1Q22."

Satya Nadella, CEO of Microsoft

Source: Microsoft

Here are the biggest calls on Wall Street on Friday: