Here are Friday's biggest analyst calls: Tesla, Nvidia, Roku, Coinbase, DraftKings, Disney & more

Published Fri, Feb 17 20238:28 AM EST

Here are the biggest calls on Wall Street on Friday: Compass Point upgrades Coinbase to buy from neutral Compass said the "long-term opportunities outweigh near-term risks." "Although ADVs (average daily volume) remain subdued vs. the bull market of 2021, they've improved from the lows in recent weeks, and we believe COIN is well positioned to gain market share, especially among US retail investors, when the crypto bull market returns, which we expect to start in late 2H23 and continue through 2024." Goldman Sachs reiterates Tesla as buy Goldman said it's bullish heading into the company's investor day on March 1. "In addition, we expect Tesla to discuss its generation 3 vehicle platform (where Tesla is targeting to reduce costs by ~50%), and we believe this is of particular focus for investors (both how Tesla can potentially achieve this much cost reduction, and when Tesla may be able to ship a low-cost consumer vehicle based off of the third generation platform)." KeyBanc reiterates Nvidia as overweight KeyBanc raised its price target on the stock to $280 per share from $220. "Accordingly, we are increasing our PT to $280, as we view NVDA as one of the most compelling stories in semis." Mizuho initiates GE Healthcare as buy Mizuho said it sees "path to greatness" for the medical tech company that was spun off from General Electric. " GE Healthcare Reboot Underway With Path to Greatness Well-Paved: Our Buy rating is based on: 1) positive feedback from our proprietary radiology survey that points to pent-up demand for additional US hospital imaging capacity, 2) positive checks from hospital surveys that point toward a return to double-digit growth in imaging procedures." Daiwa reiterates Disney as buy Daiwa said it sees international growth for Disney which will further drive parks outperformance. "We see international becoming the next driver in parks outperformance. DTC's profitability path, media cost cuts can provide margin expansion." Credit Suisse initiates Wix.com as outperform Credit Suisse said shares of the web development company are compelling. "As a leading SaaS content management system (CMS) provider, Wix not only offers a compelling suite of no/low-code web development tools but has also built out a robust suite of business and commerce solutions." JPMorgan downgrades C.H. Robinson to underweight from neutral JPMorgan said it sees a challenging backdrop for the logistics company. "We are also downgrading CHRW to Underweight from Neutral and keeping our $87 Dec-23 target as the stock continued to rally after a very challenging quarter and we still see downside risk to 2023 consensus estimates which skews risk/reward negatively even if we ascribe a prior peak multiple on trough earnings." Read more about this call here. Loop reiterates McDonald's as buy Loop said its survey checks show same-store sales continue to grow. "Our latest McDonald's U.S. franchisee checks indicate same-store sales growth is once again off to a strong start to date in 1Q." Bernstein initiates MongoDB as outperform Bernstein initiated the data development platform company and said it sees growth surprising to the upside. " MongoDB is a best-of-breed, new-generation, database vendor that is trying to establish itself in a large and growing database software market by capitalizing on explosive growth in data and new types of workloads created around them." Citi initiates Coca-Cola & Procter & Gamble as buy Citi said in its initiation of Coca-Cola and Procter & Gamble that it likes stocks with "compelling long-term growth stories." "We focus on high quality names that have de-rated on near-term temporary concerns, offer a gross margin improvement story with declining commodity prices and the ability to retain prior pricing, as well as names offering compelling long-term growth stories." Wells Fargo downgrades Generac to equal weight from overweight Wells said in its downgrade of the battery backup company that it sees "challenging" guidance. "We're downgrading GNRC to Equal Weight from Overweight due strong performance YTD and what looks like aggressive 2023 guidance. We believe GNRC could fall short of achieving the steep ramp implied in H2'23 guidance." Read more about this call here. Evercore ISI downgrades Canada Goose to in line from outperform Evercore said the winter weather accessory company's long-term financial targets are too "aggressive." "Although Canada Goose could be one of the best positioned brands to recapture Chinese spend that until now has been lost to COVID lockdowns, we are moving to the sidelines from Outperform to In-Line given management's needlessly aggressive new long-term financial targets Stifel downgrades Texas Roadhouse to hold from buy Stifel downgraded Texas Roadhouse mainly on valuation. "Moreover, the stock's strong YTD performance (+16% vs. S & P 500 +6.5%) has boosted the valuation to a reasonable level. Therefore, we view the risk/reward as balanced at the current level and are downgrading to Hold." Evercore ISI adds a negative tactical call on Home Depot Evercore initiated a tactical underperform on the stock, saying it's concerned about an underwhelming earnings report next week. The firm maintained its long term outperform rating. "The increase in mortgage rates, falling existing home sales, decelerating house prices and guidance from HI vendors during their 4Q calls have softened expectations for HD. " Evercore ISI adds a negative tactical call on Target Evercore said it's concerned about a negative earnings report for Target when it reports results later this month. " TGT stock has outperformed the market by 12% YTD. We anticipate a CY23 EPS guide under Street estimates, probably $8.50-$9.00. Evercore ISI adds a positive tactical call on Walmart Evercore said it's bullish on Walmart heading into earnings next week. "We are adding WMT to our Positive TAP (Tactical Trading Idea) list ahead of earnings on Tuesday. WMT stock has lagged the S & P and S & P Retail Index by 5% and 17% YTD. We believe the recent shift is reflecting 1) a risk on move broadly toward retailers with more discretionary exposure and 2) concerns that management is likely to guide CY23 below consensus estimates." BTIG upgrades DraftKings to buy from hold BTIG said the sports betting company is in a "stronger competitive position." "That suggests the positive implications of the 4Q print aren't fully reflected in the stock as the fundamental levers for further beats are in place for '23/24+, plus DraftKings is now in a stronger competitive position with the OSB (offshore sports betting) market rationalizing, line of sight to positive cash flow, and room to be more aggressive with growth investment." Bank of America upgrades Roku to buy from underperform Bank of America said in its double upgrade of the stock that the fundamentals are "bottoming out." "We upgrade ROKU to Buy from Underperform based on the following reasons: (1) performing better than the broader advertising market which remains weak (shows the strength of the platform), (2) ad spending across some verticals is bottoming out and should improve through the course of the year." Read more about this call here. Citi opens a negative catalyst watch on Salesforce Citi said Salesforce shares are ripe for a "near-term pullback." "Shares have had a nice run +27% YTD on positive headlines from cost cuts and activist involvement, potentially leaving conditions ripe for a near-term pullback as margin upside may be priced in and growth metrics could disappoint. As a result we open a negative Catalyst Watch."