Thursday's Biggest Analyst Calls: Tesla, Netflix, Best Buy, Amazon, First Solar, Disney & More

Here are the prominent recommendations from Wall Street analysts for Thursday:

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Barclays upgrades Fidelity National Information Services to overweight: Barclays upgraded the financial services and products company, citing that the stock is currently undervalued. They stated, "Based on our analysis, we see FIS as undervalued at 9x '24 P/E and upgrade to Overweight from Equal Weight."

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Goldman Sachs upgrades Kontoor Brands to buy: Goldman Sachs raised its rating for Kontoor Brands, which owns brands like Lee and Wrangler, from neutral to buy. They expressed confidence in the brand's momentum and potential for market share growth.

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Goldman Sachs upgrades Best Buy to buy: Goldman Sachs upgraded the electronic retailer, Best Buy, from neutral to buy, citing the potential for positive demand growth and multiple expansion.

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Goldman Sachs downgrades Foot Locker to sell: Goldman Sachs downgraded Foot Locker to a sell rating from neutral, predicting market share instability for the apparel retailer.

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KeyBanc upgrades Netflix to overweight: KeyBanc upgraded Netflix to overweight from sector weight, emphasizing the growth potential after the company's recent earnings report. They highlighted changes in paid sharing, increasing operating profit, and buybacks supporting significant EPS growth.

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Morgan Stanley reiterates Tesla as overweight: While Morgan Stanley lowered its price target on Tesla, they maintained an overweight rating. They posed questions about the company's caution regarding various factors, including macroeconomic conditions and the Cybertruck.

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Oppenheimer reiterates Amazon as outperform: Oppenheimer expressed a bullish outlook for Amazon, especially ahead of earnings, citing its exposure to affluent consumers, advertising opportunities, potential for e-commerce margin improvement, and reduced headwinds for AWS.

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Jefferies upgrades Zscaler and CrowdStrike to buy: Jefferies upgraded several cybersecurity companies, including Zscaler and CrowdStrike, from hold to buy. They anticipate these firms benefiting from various long-term trends and their strong performance.

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Bernstein reiterates Disney as outperform: Bernstein maintained its outperform rating for Disney, highlighting the need for ESPN to prove its value as a sports aggregator amidst escalating sports rights costs.

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Citi reiterates Microsoft as buy: Citi reaffirmed its buy rating for Microsoft ahead of its earnings release, projecting revenue and profitability acceleration due to stabilized IT budgets and new revenue streams.

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Wells Fargo downgrades Graphic Packaging to underweight: Wells Fargo issued a double downgrade for Graphic Packaging, expressing concerns about the impact of weight loss drugs on boxboard fundamentals.

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Wells Fargo downgrades Canada Goose to equal weight: Wells Fargo downgraded winter clothing company Canada Goose, citing challenges in the Chinese market and unfavorable weather conditions in North America and Europe.

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Deutsche Bank initiates Chipotle, Starbucks, and Domino's as top picks: Deutsche Bank initiated Chipotle, Starbucks, and Domino's as top picks in the restaurant sector, emphasizing the sector's long-term attractiveness.

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Bank of America downgrades Peloton to underperform: Bank of America downgraded Peloton to underperform, citing concerns about declining platform engagement and increased churn.

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Deutsche Bank upgrades Spirit Aerosystems: Deutsche Bank upgraded Spirit Aerosystems, citing an attractive risk/reward profile and reduced existential risk.

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JPMorgan upgrades First Solar: JPMorgan upgraded First Solar to overweight, indicating a favorable entry point and strong growth prospects.

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JPMorgan upgrades Aptiv: JPMorgan upgraded Aptiv from neutral to overweight, anticipating faster revenue growth and specific margin drivers to benefit the auto tech company.

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