Morgan Stanley analyst Joseph Moore upgraded Nvidia to Overweight from Equal Weight with a $259 price target.

As previously reported, Morgan Stanley analyst Joseph Moore upgraded Nvidia to Overweight from Equal Weight with a price target of $259, up from $217. Both of Nvidia's gaming and data center segments fell short of expectations over the course of 2019, but investments made this year in the gaming business should pay off in 2020 while recent Cloud commentary indicates that the inflection in "conversational AI" is real and new Nvidia products should ease concerns about competition in the data center segment, Moore tell investors. Although he expects a tough semiconductor environment more broadly, and believes the stock is expensive on near-term earnings, Moore sees upside from here for Nvidia shares, he concludes.

Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Deckers Brands (DECK) upgraded to Outperform from Market Perform at Wells Fargo with analyst Tom Nikic saying the stock's upside guidance potential amid improving weather outlook for the 2nd half of FY20 and also cites the company's "compelling" portfolio structure along with its "cash cow" UGG brand. 2. Wendy's (WEN) upgraded to Buy from Hold at Stifel with analyst Chris O'Cull saying he left recent management meetings with greater confidence in the company's sales and EBITDA drivers over the next few years, especially the breakfast launch planned for 2020. 3. Hasbro (HAS) upgraded to Buy from Neutral at UBS with analyst Arpine Kocharyan saying expectations for the company have seen a "meaningful reset" after a weak Q3 results, but he sees upside in the stock thanks to the better than expected revenue and the cost synergies from Entertainment One acquisition, along with the momentum of its gaming portfolio. 4. Nvidia (NVDA) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Joseph Moore saying both of Nvidia's gaming and data center segments fell short of expectations over the course of 2019, but investments made this year in the gaming business should pay off in 2020 while recent Cloud commentary indicates that the inflection in "conversational AI" is real and new Nvidia products should ease concerns about competition in the data center segment. 5. Arrowhead (ARWR) upgraded to Outperform from Neutral at Baird with analyst Madhu Kumar saying Medicines Company's (MDCO) announcement of a definitive agreement to be acquired by Novartis (NVS) forces him to re-evaluate Arrowhead' RNAi platform, which is heavily levered to lipid-modifying RNAi drugs for cardiovascular disease. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.