Here are Friday's biggest analyst calls: Apple, Amazon, Roku, Intel, First Solar, SeaWorld & more

Published Fri, Jul 29 20228:44 AM EDT

Here are the biggest calls on Wall Street on Friday: Stifel downgrades Wingstop to hold from buy Stifel said it sees a more balanced risk/reward outlook for the chicken wing restaurant company. "We are downgrading WING to Hold from Buy following the 20% appreciation in the stock following the 2Q earnings release (S & P 500 1.8%). We have a favorable view of the company's near-term sales outlook and longer-term growth prospects, but with the stock now at our 12-month target price, we believe the near-term risk/reward has become more balanced." Susquehanna downgrades Intel to neutral from positive Susquehanna said it sees too many negative catalysts for the chipmaker. "For decades, Intel was able to cover up a litany of failed projects, poor acquisitions, and strategic foibles by pushing Moore's Law and process leadership. Unless they regain this leadership (we think unlikely), or change strategic direction, we expect growth, profitability, and cash flow problems to persist at Intel." Baird downgrades Intel to neutral from outperform Baird said it sees no near-term PC recovery, which could hurt Intel. "Shift in consumer patterns away from Covid-times at home entertainment devices, combined with weak first-half seasonality, suggests no PC recovery near-term, with resulting under-utilization rates challenging gross margin recovery." Susquehanna downgrades Roku to neutral from positive Susquehanna said it sees too many macro headwinds for Roku . "However, macro headwinds such as rising inflation and supply chain disruptions are having a severe impact on the business – both on the advertising side and the engagement side through lower consumer discretionary spending." Read more about this call here . JPMorgan downgrades Spirit to underweight from overweight JPMorgan said it sees a strong chance that a deal between JetBlue and Spirit will be approved by regulators. "As a result, we are downgrading Spirit shares to Underweight with a $29 price target, predicated on a 70% closure probability and 30% probability of a retreat into the high teens based on its peer set. In short, given the extensive runway between here and a potential deal closure, we suggest investors shift their focus back to names with greater fundamental exposure, and the impact posed by the current US recession." Wolfe downgrades Stanley Black & Decker to peer perform from outperform Wolfe said there are too many negative catalysts for S tanley Black & Decker. "The bull has already bolted over the horizon as we shut the gate with our downgrade to PP rating. The $5-6 guide is likely close to trough, but now see normal closer to $7 than $10-11. Potential catalysts in '23, but negative news flow likely dominates through YE22." Oppenheimer upgrades First Solar to outperform from neutral Oppenheimer said First Solar is a key beneficiary of the latest version of a bill moving forward in Congress. "Further, in the Inflation Reduction Act of 2022 moving forward with positive momentum, we believe the company is likely to begin monetizing as much as $0.11/W in domestic production credits with passage of the legislation." Deutsche Bank adds a catalyst call buy on SeaWorld Deutsche Bank added a catalyst call buy idea on the stock and said it's bullish heading into earnings next week. "We believe SEAS is on pace to beat what appear to be achievable top and bottom line results for 2Q and full year 2022. Orlando hotel data continues to show accelerating momentum in visitation to the market, with RevPAR improving from +5% vs. 2019 levels at the beginning of 2Q22 to nearly +30% by the end of the quarter. Baird upgrades Northrop Grumman to outperform from neutral Baird said it sees stronger growth for the defense contractor. "We are upgrading NOC to Outperform from Neutral reflecting the stronger growth expected in the 2H22 and re-acceleration of growth in 2023 from LSD (low single digits) in 2022 to MSD (mid single digits) in 2023." Evercore ISI downgrades Roku to in line from outperform Evercore said it sees too many macro headwinds for the stock. " Roku' s Q2 EPS print was expected to be muted (hence our tactical call), but we did not expect headwinds (soft scatter market, weakening consumer discretionary spend, inflationary pressure, supply chain issues, and ASC 606 accounting impact) to be so dramatic." JPMorgan downgrades Comcast to neutral from overweight JPMorgan downgraded the stock due to stalling broadband growth. "We downgrade Comcast to Neutral (from Overweight) on lower cable estimates (subs and financials) and establish a December 2023 price target of $45, which assumes exiting 2023 at 13.8x 2023E FCF and 11.9x 2023 EPS." Disclosure: Comcast is the owner of NBCUniversal, parent company of CNBC. Deutsche Bank reiterates Amazon as buy Deutsche said that Amazon's earnings report on Thursday was robust and called the stock a "port in the macro storm." "After waiting multiple years to buy the last OI (operating income) cut, Amazon delivered 2Q OI that was 1.3% ahead of consensus and a 3Q OI outlook that was inline with buyside bogeys, providing investors confidence that the confluence of rapid investment growth and incremental cost headwinds is finally starting to abate." Read more about this call here . Morgan Stanley reiterates Apple as overweight Morgan Stanley said the stock has "resilience." "June Q results were better than feared, as iPhone & Services upside offset Mac/iPad supply constraints & Wearables declines. We see mgmt's Sept Q rev guidance (for MSD% Y/Y) as rightfully conservative given the macro backdrop. Ests are largely unchanged and Apple remains our Top Pick w/ $180 PT." Read more about this call here. Goldman Sachs reiterates Apple as neutral Goldman said it expects Apple shares to decline in reaction to company's earnings and that all of the beat was "was due to lower supply chain impacts than the company had originally expected." "We believe there are better options for investors wishing to weather deteriorating macro elsewhere in our coverage." Read more about this call here.