Here are Friday's biggest calls on Wall Street: JPMorgan downgrades UPS to neutral from overweight JPMorgan said UPS shares could be on hold without a major catalyst to drive growth. "Pressure continues mounting on the U.S. consumer and e-comm growth decelerates. ... UPS is operating very well in a dynamic environment but we expect further improvements will be gradual and do not see much upside to a 2022 guide already pulled forward." Read more about this call here. Morgan Stanley upgrades Ford to equal weight from underweight After a significant pullback in Ford Motor 's share price this year, Morgan Stanley is taking another look at the auto stock. "We believe the 'run-off' value of Ford's authentic/emotional ICE (internal combustion engine) vehicles and fleet-oriented commercial end markets may be underestimated by the market." Read more about this call here . HSBC upgrades Krispy Kreme to buy from hold HSBC raised its rating on Krispy Kreme after the stock hit an all-time low this week. "We expect more pricing and higher scale resulting from an aggressive point of access expansion will keep earnings expectations on track." Jefferies downgrades Carvana to hold from buy Jefferies said concerns about liquidity will drive Carvana 's stock performance in the next 12 months "Macro headwinds could depress profitability and constrain growth, reducing our confidence in forecasting an improvement in unit economics and resulting in a longer-than-expected period of elevated cash burn." Bank of America upgrades Republic Services to buy from neutral Bank of America upgraded Republic Services , saying it believes a longer-term transformation is underway at the waste-collection company. "RSG is striking the right balance of volumes, price increases, building out solid waste density via bolt-on acquisitions and driving operating leverage following years of shedding poor contracts. While we still maintain a mixed view on the RSG's strategy into hazardous waste ('one-stop' shop in environmental services), the company is baking in a conservative outlook and a majority of business (85%-90%) is still tied to solid waste." Bank of America upgrades Waste Management to neutral from underperform The firm upgraded Waste Management following a better-than-expected first quarter. "We see a positive outlook for WM given price increases into 2023 (and rising CPI), moderating costs and a resilient business model in the face of rising macro uncertainty." Bank of America trims Tesla price target to $925 from $1,300 Bank of America revised price objectives across its auto coverage. Tesla 's new price objective implies 27% upside from Thursday's closing price. "Following the quarter, we raised our forward estimates, but maintained our $1,300 PO. However, we are now lowering our price objective from $1,000 to $925 on lower assumed multiples with the market sell-off, specifically now based on ~13x EV/Sales and ~55x EV/EBITDA (prior 18x, 78x) on our 2023 estimates." Wolfe Research downgrades KB Home to underperform from peer perform Wolfe Research lowered its outlook on the homebuilding sector to market weight and downgraded KB Home . "Intermediate term potential headwinds are numerous, particularly as the Fed appears set on curbing sticky inflation through persistent, sentiment demoralizing rate hikes and balance sheet reductions for the foreseeable future." Barclays upgrades Endeavor Group Holdings to overweight from equal weight Barclays called the holding company for talent and media agencies a "defensive growth media play." "EDR is on the supply side of content creation, sporting events and sports betting: Its high-growth, high-margin, high-FCF conversion businesses should be recession resilient." Goldman Sachs downgrades Fluence Energy to neutral from buy Goldman cut its rating on energy storage name Fluence Energy following a mixed quarterly report. "The near-to-medium-term path for the stock still faces a number of headwinds that we believe warrant a more balanced view at this time." —CNBC's Michael Bloom contributed reporting.
The United Parcel Service Inc. (UPS) logo is displayed on a truck parked in New York.
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Here are Friday's biggest calls on Wall Street: