Here are Tuesday's biggest analyst calls of the day: Tesla, Amazon, Roblox, Apple, WeWork & more

Published Tue, Apr 19 20228:20 AM EDTUpdated Tue, Apr 19 202211:40 AM EDT

Here are Tuesday's biggest calls on Wall Street: Credit Suisse reiterates Tesla as outperform Credit Suisse said it sees "favorable fundamentals" heading into the company's earnings report on Wednesday. "We raise our TP to $1,125 from $1,025, as we raise our target multiples given the increased strategic importance of Tesla as a leader in the global EV transition; we maintain our Outperform rating, with Tesla to benefit from favorable fundamentals in the coming years as outlined in our recent upgrade." Piper Sandler initiates WeWork as overweight Piper said it sees profitability on the horizon for the shared workspace company. "While WE' s storied past is well known, less appreciated is that WE is on the path to achieve profitability by late 2023/early 2024, which could accelerate given its flexible workstation business model fits in the post-Covid world." Read more about this call here. Truist upgrades Lululemon to buy from hold Truist said it sees a "sustainable growth story" for the company. "We are upgrading LULU to Buy from Hold and raising our PT to $495 from $390. Valuation has moderated since our launch, and we expect a robust new five-year financial outlook at the April 20th analyst day." Goldman Sachs downgrades Roblox to neutral from buy Goldman sees limited upside right now for Roblox. "While we view Roblox as pioneering the next generation of gaming companies with its user-generated content and open universe platform, we expect that tough comps, aging up the user base, and reinvesting into the developer community as well as R & D talent will continue to dominate the narrative over the near term, limiting upside in stock performance." Read more about this call here. Bank of America downgrades Archer-Daniels-Midland and Bund to neutral from buy Bank of America said it sees "minimal upside" for the food-processing companies. "Our new EPS estimates for both companies push us above consensus for 2022-24, especially in the outer years as we expect earnings will hold up due to grain price deflation (off current peak levels). At the same time, both ADM and BG shares are up sharply (+67% and 52% y/y, and +44% and +33% ytd, respectively), trailing only the fertilizer names and Sigma Lithium in our coverage during these periods." Citi downgrades NXP Semiconductors to neutral from buy Citi said in its downgrade of the semiconductor company that its thesis has largely "played out." "We are downgrading NXPI from Buy to Neutral as our margin expansion thesis has played out. Our Buy thesis back in February 2021 was based on an anticipation of superior margin/EPS upside and strength from the automotive end market." Cowen reiterates McDonald's as outperform Cowen said the fast-food company is better positioned than peers in the sector. "We believe MCD is better suited to navigate a challenging industry backdrop vs. quick service peers. Int'l is harder to model given well known challenges in Ukraine & Russia as well as China, which cumulatively represent 5%-6% of normalized system sales & EBIT." Rosenblatt initiates Amazon as neutral Rosenblatt said that Amazon is exposed to inflationary pressures. "The post-pandemic consumer rotation to services from goods could be long lived, and Amazon' s rivals have upped their retail game considerably with click/brick features consumers like and Amazon can't match with its small store footprint." Read more about this call here. JPMorgan reiterates Disney as overweight JPMorgan lowered its price target on shares of Disney to $175 per share from $200, but said the Parks business is the company's "crown jewel." "Overall, we are bullish on Disney's Parks business and believe that is a crown jewel that as a stand-alone company with the IP behind it would trade well ahead of Parks peers' ~9-10x EBITDA." Rosenblatt initiates Apple as neutral Rosenblatt said the tech company's "China troubles" are "hard to ignore." "After enjoying a pandemic boost to computer and tablet sales, share gains from better technology and a surprisingly well-received new iPhone cycle last year, Apple is confronting an obstacle that seems hard to overcome — China lockdowns that appear unlikely to fully abate any time soon. Apple is exposed to both demand and supply, while also facing tepid response to its latest update to iPhone SE." Jefferies reiterates Meta Platforms as buy Jefferies kept its buy rating on shares of Facebook's parent company, but said it sees slowing growth heading into earnings later this month. The firm also lowered its price target on the stock to $330 from $350. "Given our view that FB 's investments are likely to remain elevated during a period of slowing rev growth, we lower our FY23 op. income by 7% and now expect a low 30% mgn in FY22/23." Citi reiterates Microsoft as buy Citi said in a note on Tuesday that "commercial demand remains strong" heading into earnings next week. "Amidst rising investor concerns around the sustainability of robust software demand and valuation multiples, we expect MSFT' s results to demonstrate that commercial demand remains strong." Goldman Sachs reiterates ExxonMobil as buy Goldman said that it's "constructive" on the oil and gas giant heading into earnings later this month. "While we maintain a broadly bullish view on Energy equities in the context of our constructive commodity price outlook and recognize that the majors are an important part of the Energy benchmark, we maintain a preference for Buy-rated ExxonMobil and ConocoPhillips relative to Neutral-rated Chevron." Rosenblatt initiates Netflix as neutral Rosenblatt said in its initiation of Netflix that it's concerned about slowing growth. "A more mature, slower growth profile could be emerging that constrains the investment case. A big bull argument that one could make — a move into advertising — has been taken off the table by management, although that could change at some point." Citi reiterates Brunswick as buy Citi said that the marine company is a top recession play. "We see BC as the best relative leisure play in the event of a recession based on a significant top-line cushion (by way of both pent-up demand and an extended replenishment runway), substantial noncyclical revenue streams, high-income exposure, and a compressed multiple."

Tesla Y

Source: Tesla

Here are Tuesday's biggest calls on Wall Street: