Here are Wednesday's biggest analyst calls: Tesla, Apple, Amazon, Exxon Mobil, Nike, Best Buy & more

Published Wed, Dec 14 20228:50 AM ESTUpdated Wed, Dec 14 202211:50 AM EST

Here are Wall Street's biggest calls on Wednesday: Bernstein reiterates Amazon as outperform Bernstein said it remains bullish on the e-commerce giant heading into 2023. "Amongst the uncertain backdrop, Amazon continues to look like the safest place in eCommerce after taking share in 3Q and likely continuing to do so in 4Q." Wells Fargo downgrades Lear to equal weight from overweight Wells said it sees earnings headwinds in 2023 for the automotive seat and electrical systems company. "We are downgrading LEA from Overweight to Equal Weight. LEA shares are up 10% since the end of Q3 (vs. S & P also +12%). However, we are more cautious on auto production vs. IHS, driven by expected weakness in Europe and China." Citi downgrades Marriott to neutral from buy Citi downgraded the stock mainly on valuation. "We believe MAR's fee-driven business model likely supports expanded current valuation, fairly reflecting continued RevPAR recovery (revenue per available room), net unit growth and accelerating share repurchases." Morgan Stanley names Exxon Mobil a top 2023 pick Morgan Stanley said Exxon Mobil is one of the best-positioned stocks heading into 2023. "Against that backdrop, we remain focused on rate of change trends (both on cash return and capital efficiency) and generally prefer stocks with (1) strong and/or improving FCF; and (2) scale and asset diversity to better manage inflation risks." Jefferies reiterates Netflix as hold Jefferies raised its price target on Netflix to $310 per share from $250, but said it's waiting for a better entry point for the stock. "Street may be overestimating the AVOD (ad video on demand) impact for Q4 and 1Q23 while underestimating the out-year impact. This leads us to be cautious into the quarter and await a better entry point." Goldman Sachs names Boeing at top 2023 pick Goldman said the aerospace giant is best positioned in the commercial sector heading into 2023. "We see commercial original equipment ( BA , SPR, HWM) as the best positioned in commercial aerospace in 2023, with a strong order cycle under way and deliveries well below demand." Barclays upgrades SolarEdge to overweight from equal weight Barclays said it's bullish on the company's "pivot" toward Europe. "Post our trip to Europe, we feel more confident about the macro dynamics in Europe that will underpin SEDG's growth and ability to take market share in the near term." Wedbush upgrades Darden to outperform from neutral Wedbush called the owners of brands like Olive Garden a "share gainer." "We expect DRI's category share gains to accelerate in an increasingly uncertain consumer environment, rendering visibility into DRI's ability to achieve or exceed current consensus FY23 expectations relatively high." Morgan Stanley reiterates Apple as overweight Morgan Stanley said concerns about App Store competition are overdone. "We see limited risk to App Store revenue from greater App Store competition on iOS, and