Here are Tuesday's biggest analyst calls: Apple, Amazon, Costco, Alphabet, Nvidia, Coinbase & more

Published Tue, Nov 22 20228:32 AM ESTUpdated Tue, Nov 22 202211:50 AM EST

Here are Tuesday's biggest calls on Wall Street: Piper Sandler reiterates Amazon as overweight Piper lowered its price target on the e-commerce giant to $119 per share from $125, but said the stock could see a "reprieve." "First, the company has embarked on a headcount reduction. The peer signal is clear: on average, the companies in our coverage who have cut headcount this year are up ~8% since the announcement, handily outperforming the S & P. Also, as of mid-November, AMZN's 1YR return in the stock is a ~50% decline." UBS reiterates Apple as buy UBS said its survey checks show "iPhone purchase intent was also down 100 bps to 21% from seven year highs last year." "The average age of the Apple installed base is almost 20 months, near survey highs with increases in all markets except China that was flattish." Cowen downgrades Peloton to market perform from outperform Cowen said there's too much uncertainty around the stock. "We downgrade PTON to Market Perform on challenging post-pandemic trajectory and demand uncertainty amid turnaround effort." Cowen downgrades Lyft to market perform from outperform Cowen said it sees macro and insurance cost headwinds. "We downgrade LYFT to Market Perform on near-term challenges including (i) higher insurance costs, which could persist due to inflationary pressures; (ii) potential for revenue per rider to be affected by weaker consumer; (iii) regulatory overhang." Cowen downgrades Carvana to market perform from outperform Cowen said in its downgrade of the stock that it has an "uncertain path to cash flow." "We are downgrading CVNA to Market Perform as industry & macro headwinds have impacted unit growth and revenue trajectory while lengthening the path to profitability." Read more about this call here. Cowen downgrades Wayfair to market perform from outperform Cowen downgraded the stock due to macro headwinds. "We downgrade W to Market Perform as we lower our '22-'31 revenue and EBITDA estimates on macro headwinds and concerns about consumer demand for the Home category in '23." Baird downgrades Airbnb to neutral from outperform Baird said Airbnb is exposed to a slowdown on consumer spending. "Three downgrades include ABNB, CVNA and VRM, each exposed to pullbacks in discretionary 'high ticket' purchases." Credit Suisse initiates Box as outperform Credit Suisse initiated the cloud-content management company and said it's a "one-stop shop." "We believe Box's Content Cloud has become a compelling, unified, enterprise-grade platform offering users a 'one-stop shop' for their content needs." Bank of America adds Costco to the US1 List Bank of America said the big-box retailer is well positioned for food inflation. "We expect high food inflation to drive continued share gains for the warehouse club channel (including Costco ) given the strong value proposition and price positioning on overlapping SKUs vs. mass and traditional grocery." Cowen upgrades Walgreens Boots Alliance to outperform from market perform Cowen said in its upgrade of the drugstore chain that it sees an attractive risk/reward. "We upgrade WBA to Outperform from Market Perform as WBA's transformation into a hc svcs business accelerates and op inc mix shifts away from U.S. retail." Read more about this call here. JPMorgan upgrades Toll Brothers to overweight f