Tesla, Nvidia, Roku, Coinbase, DraftKings, and Disney join Friday’s analyst calls

The following are Friday's most important calls made on Wall Street:

‍

‍Compass Point improves Coinbase to allow purchases from neutral

‍

According to Compass, "near-term threats are less significant than long-term opportunities."

‍

"Although ADVs (average daily volume) are still low compared to the bull market of 2021, they have increased from recent lows, and we believe COIN is well-positioned to gain market share, particularly among US retail investors, when the crypto bull market returns, which we expect to happen in late 2H23 and last through 2024.

‍

Tesla is still a buy, according to Goldman Sachs.

‍

Leading up to the company's investor day on March 1, Goldman stated that it is optimistic.

‍

"In addition, we anticipate Tesla to discuss its generation 3 vehicle platform, where Tesla is aiming to cut costs by about 50%, and we believe this is of particular interest to investors (both with regard to how Tesla might be able to achieve this much cost reduction and with regard to when Tesla might be able to ship a low-cost consumer vehicle based off of the third generation platform)."

‍

Nvidia is described by KeyBanc as overweight.

‍

KeyBanc increased its stock price target from $220 to $280 per share.

‍

In light of the fact that we believe NVDA to be one of the most compelling tales in semis, we are raising our PT to $280.

‍

Mizuho starts the GE Healthcare purchase.

‍

According to Mizuho, the medical technology firm that was set off from General Electric is on the "road to greatness."

‍

"GE Healthcare Reboot Underway With Path to Greatness Well-Paved: Our Buy rating is based on: 1) positive checks from hospital surveys that point toward a return to double-digit growth in imaging procedures, and 2) positive checks from our proprietary radiology survey that points to pent-up demand for additional US hospital imaging capacity."

‍

Disney is recommended as a buy by Daiwa.

‍

Disney's foreign expansion, according to Daiwa, will increase park performance.

‍

"We anticipate that international will overtake domestic performance in parks. Media cost reductions and the profitability of DTC might lead to margin expansion.

‍

Wix.com is introduced by Credit Suisse as an outperform

‍

Shares of the online development company are attractive, according to Credit Suisse.

‍

As a top SaaS content management system (CMS) supplier, Wix "has developed a strong portfolio of business and commerce solutions in addition to a compelling package of no/low-code web building tools.

‍

The credit rating of C.H. Robinson shifts from neutral to underweight

‍

JPMorgan stated that it anticipates a difficult environment for the logistics business.

‍

As the stock continued to rise after a particularly difficult quarter, we downgraded CHRW to Underweight from Neutral and kept our $87 Dec. 23 target. Additionally, we still see downside risk to 2023 consensus estimates, which negatively skews risk/reward even if we apply a prior peak multiple on trough earnings.

‍

McDonald's is recommended again by Loop.

‍

According to a survey check by Loop, same-store sales are still increasing.

‍

Same-store sales growth is once again off to a great start so far in the first quarter, according to our most recent McDonald's U.S. franchisee checks.

‍

Bernstein declares MongoDB to be superior.

‍

Bernstein founded the data development platform company and stated that it anticipates growth that is unexpectedly positive.

‍

"MongoDB is a best-of-breed, new-generation database provider that is aiming to establish itself in a sizable and expanding database software market by taking advantage of the exponential development in data and new sorts of workloads generated around it."

‍

Coca-Cola and Procter & Gamble are being bought by Citi.

‍

Citi stated that it loves equities with "compelling long-term growth stories" in its introduction of Coca-Cola and Procter & Gamble.

‍

"We concentrate on high-quality businesses that have de-rated on near-term temporary concerns, offer a gross margin improvement narrative with dropping commodity costs and the potential to maintain past pricing, as well as those offering compelling long-term growth stories," the company says.

‍

Generac is downgraded by Wells Fargo from overweight to equal weight.

‍

Wells stated that it sees "difficult" guidance for the battery backup company in its downgrade.

‍

We're reducing GNRC's weight from Overweight to Equal Weight as a result of its outstanding YTD performance and what appears to be an aggressive 2023 outlook. We think GNRC could be unable to achieve the steep ramp suggested by H2′23 guideline.

‍

Canada Goose is downgraded by Evercore ISI from outperform to in line.

‍

The winter weather accessories company's long-term business goals, according to Evercore, are too "ambitious."

‍

"Despite the fact that Canada Goose may be among the best-positioned companies to recoup Chinese consumer spending that has previously been lost due to COVID lockdowns, we are switching from Outperform to In-Line due to management's overly aggressive new long-term financial targets.

‍

Texas Roadhouse is downgraded by Stifel from buy to hold.

‍

Texas Roadhouse was downgraded mostly due to valuation by Stifel.

‍

"Furthermore, the valuation has increased to an acceptable level because of the stock's good YTD performance (+16% vs. S&P 500 +6.5%). We downgrade to Hold because we believe the risk/reward is balanced at the current level.

‍

Home Depot receives a negative tactical call from Evercore ISI.

‍

Evercore started a tactical underperform on the stock since it expects a weak earnings release the following week. The company nevertheless received the long-term outperform grade.

‍

Expectations for HD have been lowered as a result of rising mortgage rates, declining sales of existing homes, slowing home price growth, and vendor commentary from HI during their 4Q calls.

‍

Target receives a bad tactical call from Evercore ISI.

‍

When Target releases its earnings results later this month, Evercore stated that it is worried about a poor earnings report for Target.

‍

"YTD, TGT stock has fared 12% better than the market. We forecast CY23 EPS guidance to be $8.50–$9.00 below Street projections.

‍

Walmart receives a supportive tactical call from Evercore ISI.

‍

Evercore stated that it is optimistic about Walmart going into next week's earnings.

‍

"Ahead of Tuesday's earnings, we are adding WMT to our Positive TAP (Tactical Trading Idea) list. WMT stock has fallen 5% and 17% YTD below the S&P and S&P Retail Index. We think the recent change is a result of 1) a risk-on shift toward merchants with more discretionary exposure and 2) worries that management is probably going to lead CY23 below consensus projections.

‍

BTIG improves DraftKings to buy from hold

‍

The sports betting firm is in a "stronger competitive position," according to BTIG.

‍

"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 greater competitive with the OSB (offshore sports betting) market rationalizing line of sight to positive cash flow, and room to be more aggressive with growth investment," the report said.

‍

Roku is upgraded by Bank of America from underperform to buy.

‍

In their double upgrade of the stock, Bank of America stated that the fundamentals are "bottoming out."

‍

We upgrade ROKU to Buy from Underperform for the following reasons: (1) performing better than the overall advertising market, which is still weak (demonstrating the platform's strength); and (2) ad expenditure across various verticals is bottoming out and should increase over the remainder of the year.

‍

Citi launches a Salesforce negative catalyst watch

‍

Salesforce stock is due for a "near-term fall," according to Citi.

‍

"Shares have enjoyed a great run of +27% YTD on favorable headlines from cost savings and activist involvement; however, conditions may be ripe for a short-term pullback as margin upside may have been priced in and growth metrics may fall short of expectations. We thus start a negative Catalyst Watch.