Here are Thursday's biggest analyst calls of the day: Amazon, Spotify, Teladoc, Meta, Boeing & more

Published Thu, Apr 28 20228:32 AM EDT

Here are Thursday's biggest calls on Wall Street: Wells Fargo reiterates Disney as overweight Wells Fargo said in its earnings preview note to clients that direct-to-consumer worries are overdone. The entertainment giant expects to report earnings in mid-May. " Disney's share price seems to fall daily as fears mount on both DTC and recession for Parks. We think sentiment on both is overdone. While recessionary fears may prove more temporary— and we expect solid Parks results—DTC is a proper Show Me story." Morgan Stanley reiterates Ford as underweight Morgan Stanley said after the automaker's earnings that the stock is in "limbo." " Ford' s results and guidance showed a balance of raw material inflation (more than double vs. prior forecast) and pricing (still strong with no real-time sign of consumer fatigue). But given the current macro backdrop, this balance is uneasy, leaving the stock in limbo." Wells Fargo upgrades Fifth Third to overweight from equal weight Wells said in its upgrade of the bank that it sees an attractive risk/reward. "We are leaning in to our 'Main St. Banking' theme with an upgrade of FITB to Overweight from Equal Weight given what's likely the best NII (net interest income) growth in its modern history, among the best core growth in the industry (up est. 1/3 over two years), and FITB's ability to allow much of these benefits to fall to the bottom line." Pivotal downgrades Spotify to hold from buy Pivotal downgraded Spotify after its earnings repor t on Wednesday and says investors will need patience with the stock. "While investing to drive future subscriber/ARPU growth is not necessarily a bad move operationally, deferring cash flow unsurprisingly was viewed quite negatively by the market." Read more about this call here. Evercore ISI reiterates Meta as outperform Evercore said after Meta's earnings report on Wednesday that it's a "classic dislocated high quality stock." "We view the reward-risk outlook for FB shares here as truly compelling. Yes, Facebook and all other Ad Platforms face a very large number of near-term Macro & Geo-Political risks. But at 13X P/E, that is surely way more than priced into FB shares." Read more about this call here . Citi downgrades Teladoc to neutral from buy Citi downgraded the stock after Teladoc's earnings report Wednesday, saying it sees "cracks" in the company's business model. "1Q22 results (and our follow-up with mgmt.) reveal cracks in TDOC' s whole health foundation as increased competitive intensity is weighing on growth and margins." JPMorgan reiterates Hertz as overweight JPMorgan said Hertz benefits from "persistent inflation." "While not guiding to 2022 EBITDA, management was upbeat on demand and pricing trends over the balance of the year, with the impact seemingly more than offsetting higher vehicle depreciation and operating expense (partly driven by inflationary pressures)." Cantor initiates EVgo as overweight Cantor said it likes EVgo's direct and transparent business model. "We believe EVGO benefits from a direct revenue business model, rapid EV adoption, and supportive legislation." JPMorgan initiates Archer Aviation as overweight JPMorgan said that it sees a $1 trillion market opportunity over the next several decades. "We anticipate a market opportunity post-certification larger than today's helicopter market size given purported noise and safety benefits relative to helicopters." Read more about this call here. Jefferies reiterates Amazon as buy Jefferies kept its buy rating on the e-commerce giant heading into earnings on Thursday afternoon but says it sees "mixed" results. "We believe the setup for 1Q is mixed, as low expectations for the core retail business are offset by potential downside to 2Q consensus estimates resulting from AMZN' s historical seasonality and a shift of Prime Day to 3Q." Credit Suisse initiates Allstate as outperform Credit Suisse said the insurance company that it warrants a "higher multiple." "We Expect ALL to Achieve Targeted Underwriting Results in 2023, with Substantial EPS Upside in 2024." Argus downgrades 3M to hold from buy Argus said in its downgrade of the stock that it sees too much near-term uncertainty. "The company is struggling to get back on track to achieve its long-term goals of raising margins and growing earnings. For example, MMM recently posted 1Q adjusted EPS that were 10% lower year-over-year and below analyst estimates." JPMorgan reiterates Boeing as overweight JPMorgan lowered its price target on Boeing to $190 per share from $235, calling the stock is the "ultimate show me story." "The path to upside for Boeing stock is simple in theory but more challenging in practice: deliver 737s and 787s. This would bring the cash flow that has proven elusive, start reducing inventory and leverage, and begin building credibility with investors." Benchmark initiates Freshpet as buy Benchmark said in its initiation of the pet food company that it has an early first-mover advantage. " Freshpet is a disruptor in the $38 billion North American pet food industry. Management has built a unique offering of fresh, all-natural, refrigerated pet food available in retail formats such as select mass, grocery (including online), natural food, club, and pet specialty retailers."

A Boeing 787-10 Dreamliner taxis past the Final Assembly Building at Boeing South Carolina in North Charleston, South Carolina, on March 31, 2017.

Randall Hill | Reuters

Here are Thursday's biggest calls on Wall Street: