Here are Friday's biggest analyst calls: Apple, Ford, Amazon, Alphabet, Meta, Walmart, Disney & more

Published Fri, Feb 3 20238:37 AM EST

Here are Friday's biggest calls on Wall Street: HSBC downgrades Meta to reduce from hold HSBC downgraded the stock after Wednesday's earnings report and said it sees too many headwinds. "Headwinds include macro, competition and regulation vs one longer-term tailwind that is Meta's lead in Metaverse RBC downgrades Boeing to sector perform from outperform RBC downgraded the stock due to "supply chain execution challenges." "We are downgrading shares of Boeing to Sector Perform, and maintaining our $225 PT. We believe continued supply chain execution challenges will limit near-term upside deliveries, and will be an overhang on investor sentiment." Bernstein reiterates Apple as market perform Bernstein said it sees too many headwinds after Apple's mixed earnings report on Thursday. "We net out mixed on Apple's results. On one hand, Q2 revenues are not a slam dunk, revenues will almost certainly decline in FY23, and valuation remains elevated vs. history and tech peers." Deutsche Bank reiterates Apple as buy Deutsche said it still sees a positive a positive risk/reward after Apple's disappointing earnings report on Thursday. " AAPL did not provide revenue guidance for F2Q due to macro uncertainties, but suggests y/y revenue growth will be similar to F1Q level of down -5% y/y. We found this encouraging given there is one less week in this year's F2Q vs. F1Q. AAPL also expects iPhone y/y revenue growth to accelerate in F1Q." Read more about this call here. Deutsche Bank downgrades Ford to sell from hold Deutsche downgraded the automaker after its earnings report on Thursday, noting it sees "considerable operational shortfalls." "Downgrade Ford to Sell on operational shortfalls and earnings risk." UBS reiterates Chipotle as buy UBS said it sees more upside for Chipotle shares heading into earnings on Feb. 7. "We see further upside for CMG shares following a +22% move YTD, given: robust unit development, ongoing margin expansion, and visibility into industry leading LT growth." Piper Sandler reiterates Tesla as overweight Piper said Tesla remains well positioned despite the company's recent price cuts. "While gross margin will obviously be impacted by lower prices, we still believe Tesla's peers will bear the brunt of the company's aggressive pricing strategy." BMO downgrades Bill.com to market perform from outperform BMO downgraded the online bill payment company for small business after its disappointing earnings report. " BILL showed deceleration in the core business which was greater than we anticipated as SMBs (small mid sized business) slowed spending." Bank of America reiterates Alphabet as buy Bank of America said Alphabet continues to pull the right "cost levers in a tough environment" after the company's earnings report Thursday. "While 4Q results were soft vs Street, Google is seemingly addressing: 1) competitive concerns with plan to launch AI products in near term, 2) margin and EPS concerns with lower R & D spending, layoffs and lower server depreciation, and 3) capital return concerns with $59bn of buybacks in 2022." Read more about this call here. Morgan Stanley reiterates Amazon as overweight Morgan Stanley said it's staying bullish on the e-commerce giant after its earnings report on Thursday. " AMZN results/guide showed a steep improvement in retail profitability, giving us more confidence in the scale-driven efficiencies/profits ahead. AWS faces near-term macro uncertainty, but we remain bullish." Read more about this call here. Citi reiterates Disney as buy Citi said it's bullish on Disney's long-term strategy. "We believe Disney is pursing the right strategy, laying the foundation for significant long-term growth in shareholder value." Loop downgrades Upstart to hold from buy Loop downgraded the AI lending platform mainly on valuation. "The shares of UPST have rallied 80% YTD, and we suspect a potential near term pause in FED rate hikes and UPST's current estimated short interest of 38% played a role in YTD gains." Guggenheim downgrades Generac to neutral from buy Guggenheim downgraded the battery backup company mainly on valuation. "Key Message: We are downgrading our investment recommendation from Buy to Neutral and reiterating our below-consensus revenue and earnings outlook for 2023. We regard GNRC's stock as fairly valued following its recent rally." Guggenheim reiterates Walmart as buy Guggenheim said the stock remains "very well positioned" heading into earnings later this month. "Given ongoing macroeconomic concerns, we believe Walmart will retain its higher-income households given increased traction of Walmart+ and its app, pick-up/delivery services and eCommerce offerings. We continue to believe Walmart is very well positioned and reiterate our BUY rating and $165 PT."