Here are Thursday's biggest analyst calls of the day: Lowe's, Tesla, Shopify, Amazon, Apple & more

Published Thu, Aug 11 20228:38 AM EDTUpdated Thu, Aug 11 20229:25 AM EDT

Here are Thursday's biggest calls on Wall Street: KeyBanc upgrades First Solar to overweight from sector weight KeyBanc said the solar company is a top beneficiary of the Inflation Reduction Act. "Following a turbulent week in the renewables space featuring earnings commentary, a surprising federal policy development, and outsized stock moves, we are refreshing our views on individual names in the space. We are upgrading FSLR to OW as the most direct beneficiary of the IRA and establishing $145 PT." UBS reiterates Tesla as hold UBS said the automaker could benefit from the Inflation Reduction Act. " TSLA & GM are likely the biggest winners as both have hit their EV caps and are mostly likely to receive the $3,750 battery component credits given their N American battery facilities." Atlantic Equities downgrades Upstart to underweight from neutral Atlantic Equities downgraded the consumer lending company after its disappointing earnings report. "Our estimates fall again, with FY22 and FY23 adjusted EPS estimates declining 19.9% and 32.6% respectively. Maintaining our 15x multiple, we lower our target price to $22 and downgrade Upstart to Underweight as we wait to reach a bottoming of fundamentals." Atlantic Equities upgrades Shopify to overweight from neutral Atlantic Equities said Shopify is a "high quality" and a "share gainer." " Shopify remains a high-quality market share gainer and we now see upside to estimates following the recent reset, so we are upgrading the stock to Overweight." Goldman Sachs initiates Tempur Sealy as buy Goldman said it sees a compelling risk/reward for the stock. "Initiating coverage with a Buy rating and 12-month $34 price target: In our view, Tempur Sealy is well positioned to realize above average growth as it delivers on company-specific initiatives driving EPS ahead of expectations. Citi downgrades Lowe's to neutral from buy Citi said in its downgrade of the home improvement retailer that it's time to "fade the rally." "We are using the recent strength in retail stocks to downgrade LOW to Neutral ($205 TP) based on balanced risk/reward — we are concerned the weakening macro backdrop combined with slowing DIY demand and rising promotional risk will make for a tougher margin expansion path." Read more about this call here. Morgan Stanley reiterates Berkshire Hathaway as equal weight Morgan Stanley said in a note commenting on Berkshire's stake in Occidental that "building a ~20% in a company is not unusual for BRK." "Mr. Buffett also noted OXY's plans for capital management which include:(1) reducing capital spend given heightened oil prices, (2) reducing debt and (3) reactivation and expansion of share repurchase program. We note that we have no knowledge of a potential transaction, and neither company has commented on one." JPMorgan reiterates Amazon as a top pick JPMorgan said in a note reflecting on Amazon earnings last month that it sees "significant free cash flow inflection." "Given the softer macro landscape & overall slower growth, most companies in our coverage have tightened the belts & are showing increased cost discipline. We believe that operational focus will drive significant FCF inflection for AMZN, NFLX, & UBER." Baird downgrades Traeger to neutral from outperform Baird said the stock "simply lacks an identifiable catalyst for outperformance." "We are stepping aside on COOK following mixed 2Q results, a larger-than-expected reduction in FY22 guidance, and material lowering of our FY23 EBITDA forecast. Management is appropriately taking decisive action to protect liquidity/profitability, and our enthusiasm for the brand's long-term growth opportunity remains intact." Loop reiterates Apple as buy Loop said its checks show iPhone builds remain strong. "Focus on builds alone remains misguided — Loop's take is that AAPL will ensure ample parts for new builds, refurbishment and builds will not reflect shipment trends." JPMorgan downgrades XP to neutral from overweight JPMorgan said in its downgrade of the Latin America financial institution that the company needs more profits. "We downgrade XP from Overweight to Neutral and establish new December 2023 price target of $23 per share, vs previous YE22 $27 PT. Overall, our downgrade reflects: (i) lower room for high growth with market share already reaching estimated ~12% (ii) substantial margin compression from higher SG & A with no indication of higher cost control going forward." Wells Fargo downgrades Marqeta to equal weight from overweight Wells downgraded the payment platform company due to slowing growth. "We're shifting to Equal Weight; reduced visibility into the go-forward environment for MQ motivates our downgrade. " Deutsche Bank reiterates Disney as buy Deutsche said after Disney's "strong" earnings that there's "no recession here." "Overall, Disney reported a solid F3Q, exceeding our consolidated operating incomeestimate by a whopping 22% and Adj. EPS by an even greater 37%, led by the Theme Parks & Consumer Products segment." Read more about this call here. Evercore ISI upgrades Deere to outperform from in line Evercore said in its upgrade Deere that it's bullish heading into earnings week. "We've Been Flirting With This Upgrade But Now Is The Time On Improved Manufacturing Price-Cost May Be Reducing Risk Into Next Friday's Earnings Print And That Stabilizing."

A Tesla service and sales center is shown in Vista, California, June 3, 2022.

Mike Blake | Reuters