- Bank of America raised its price target on Netflix to $460 from $426.
- Cantor Fitzgerald initiated Zoom as overweight.
- Credit Suisse upgraded Tesla to neutral from underperform.
- Cantor Fitzgerald initiated Slack as overweight.
- Citi downgraded Deere to neutral from buy.
- UBS downgraded Square to neutral from buy.
- Morgan Stanley upgraded Workday to overweight from equal weight.
- Citi upgraded Wynn to buy from neutral.
CEO Of Netflix, Reed Hastings, attends the red carpet during the Netflix presentation party at the Invernadero del Palacio de Cristal de la Arganzuela on April 4, 2019 in Madrid, Spain.Juan Naharro Gimenez | Getty Images
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Wall Street analysts are seeing plenty of buying opportunities as earnings season officially begins. Tuesday's upgrades include Tesla and Workday. Analysts are also getting bullish on Zoom and Netflix.
Here are the biggest calls on Wall Street on Tuesday.
Bank of America raised its price target on Netflix to $460 from $426
Bank of America raised its price target on the stock and said the company is benefiting from the stay-at-home orders.
"We see Netflix benefiting from a near-perfect 1H setup with strong content, stay-at-home orders, suspended sports leagues and shuttered movie theatres seeing consumers globally turn to the streaming TV service. We anticipate the step-up will result in a permanent increase in penetration for Netflix's subscriber model and see its low price-point and staple nature supporting healthy fundamentals performance in a recession, even after stay-home orders are lifted. We raise our price objective to $460 from $426 based on faster uptake in our long term peak penetration model."
Cantor Fitzgerald initiated Zoom as 'overweight'
Cantor initiated the stock as overweight and said it sees significant upside potential in the video conferencing service.
"We initiate coverage of Zoom with an Overweight rating and a 12-month price target of $150. We believe the current Covid-19 environment presents significant upside potential not currently assumed in the stock. Zoom provides a superior communication platform in a time where video and connectivity is becoming more important for all industries and business sizes. We expect the virus to provide upside to estimates and for the platform and its products to drive increased market penetration and future cross-selling opportunities. We expect these impacts to continue to drive multiple expansion."
Source: cnbc.com
