Here are Friday’s biggest calls on Wall Street:
Mizuho reiterates Amazon as buy
Mizuho said it’s standing by its buy rating on the e-commerce giant.
“Maintain Buy on AMZN and $135PT on positive long-term fundamentals, but expect stock volatility from potential downward revisions near-term.”
Evercore ISI reiterates Tesla as in line
Evercore said recent checks show “a well-expected influx” of orders after Tesla cut prices.
“the big question is whether order trends remain ‘sticky’, as US deliveries were already expected to grow +50-60% YoY to 750-800k. Price cuts can only stoke extended demand so much, for existing/aged product, as seen in China w/ just 12k regs/week after cuts.”
JPMorgan reiterates Netflix as overweight
JPMorgan said it sees growth potential after the company’s strong earnings report on Thursday after the bell.
“We remain bullish on NFLX shares as: 1) content, advertising, & paid sharing should drive accelerating FXN (foreign exchange neutral) revenue growth through 2023; 2) operating margins expand due to faster revenue growth & tighter cost discipline; & 3) FCF ramps on improving profit & stable cash content spending.”
JPMorgan reiterates Coinbase as neutral
JPMorgan said Coinbase is a beneficiary of other company’s challenges from the FTX fallout.
“We see Coinbase as a beneficiary of the challenges that have faced other brokers/exchanges in the aftermath of the collapse and bankruptcy of FTX.”
Bank of America reiterates Block as buy
Bank of America said it sees a long runway for growth for shares of the company formerly known as Square.
“The pandemic as well as new product introductions have led SQ’s estimated TAM to increase from $60B (Square only) in 2017 to $190B ($120B Square, $70B Cash App) in 2022.”
Cowen downgrades Salesforce to market perform from outperform
Cowen said it sees too many headwinds for Salesforce right now.
“We are downgrading CRM to Market Perform. With several recent exec departures & a major restructuring underway, we expect to see elevated levels of disruption risk.”
Wells Fargo reiterates Johnson & Johnson as overweight
Wells said it’s staying bullish on shares of Johnson & Johnson heading into earnings Tuesday.
“Macro headwinds may pressure margin, but we could see EPS guidance bracket consensus.”
JPMorgan upgrades Regeneron to overweight from equal weight
JPMorgan said it sees several positive catalysts ahead for the biotech company in 2023.
“We are upgrading REGN to OW from N ahead of a number of important 2023 updates.”