- Wells Fargo upgraded Dollar General to overweight from equal weight.
- Wedbush upgraded Wendy's to outperform from neutral.
- Argus upgraded HP to buy from hold.
- Barclays upgraded Sanderson Farms to overweight from equal weight.
- Berenberg upgraded Box to buy from hold.
- Gordon Haskett upgraded Cheesecake Factory to buy from hold.
- Atlantic Equities downgraded Honeywell to neutral from overweight.
- Berenberg downgraded Teladoc Health to hold from buy.
A Dollar General store in Creve Coeur, Illinois.Daniel Acker | Bloomberg | Getty Images
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Investors may be wondering if the markets have hit bottom, but Wall Street analysts say there are plenty of buying opportunities as the first quarter comes to an end.
Tuesday's upgraded stocks include Dollar General, HP, Wendy's and more.
Here are the biggest calls on Wall Street on Monday:
Wells Fargo upgraded Dollar General to 'overweight' from 'equal weight'
Wells Fargo said in its upgrade of the discount retailer that it's the "best stock in the consumer arsenal" if the coronavirus leads to more economic headwinds.
"DG has numerous underappreciated tailwinds gaining steam that we believe make the stock a particularly attractive investment at the moment. 1) Massive government stimulus in response to COVID-19 is a key comp driver that should boost Q2 and possibly beyond (if further action is taken as it was during the Great Recession). Our historical analysis suggests low-income retailers (and DG specifically) are most positively leveraged to this potential catalyst. 2) Best stock in the consumer arsenal if COVID-19 leads to a sustained recession given its focus on consumables, small pack sizes, and leverage to consumer trade-down."
Wedbush upgraded Wendy's to 'outperform' from 'neutral'
Wedbush said in its upgrade of the restaurant chain that it's "relatively insulated" from the coronavirus.
"We believe WEN is relatively insulated from near-term headwinds from COVID-19, and is well positioned for accelerated top- and bottom-line growth in a post-COVID world. Update an early indication that WEN could navigate through the COVID headwind relatively unscathed. We now model Q2 SSS growth of -25%, Q3 SSS growth of -12%, and lower our 2020 SSS growth estimate to -10.1% from 7.5%previously."