Check out today's top analyst calls from around Wall Street, compiled by The Fly.
INDIAN MARKET ENTRY, EV MINI-CAR: Roth Capital analyst Craig Irwin upgraded Tesla (TSLA) to Neutral from Sell with a price target of $750, up from $350. The analyst noted that checks show Elon Musk is well down the path of preparing to enter the Indian market, where he sees China-like potential. Irwin understands from his contacts that Tesla is also slated to launch an EV mini-car in the relatively near future. He expects the vehicle to be comparable to the MINI Cooper or the Fiat500, and available with a shorter range, allowing an addressable market that could surpass the Model 3 in Europe.
BUY DISNEY: Goldman Sachs analyst Brett Feldman initiated coverage of Disney (DIS) with a Buy rating and $137 price target. The analyst believes Disney is well positioned to pivot into direct to consumer video models and that consensus estimates underestimate the profitability of Disney+. The company's "best-in-class" brand, global distribution, production assets, content library and "strong" balance sheet position it to build scaled direct to consumer video platforms in the "highly competitive" streaming environment, Feldman told investors in a research note. The analyst also started coverage of:
MOVING TO THE SIDELINES: Bank of America analyst Jessica Ehrlich downgraded ViacomCBS to Neutral from Buy with a $25 price target. The analyst sees limited catalysts for further near-term upside given that the bulk of the company's re-transmission renewals for 2020 have now been finalized, said Ehrlich, who also noted that upfront activity is likely to be limited or pushed out into 2021. She additionally sees an overhang from the NFL and major sports broadcast being not guaranteed to return in the fall.
'SURPRISED TO THE UPSIDE': Jefferies analyst Michael Yee initiated coverage of Moderna (MRNA) with a Buy rating and $90 price target. The analyst believes the Street "will be surprised to the upside" if the company's COVID-19 vaccine works, gets approved by early 2021, and there are "multi-billion dollars" of purchase orders from the U.S. and around the world. The Street is "divided as to what will happen or if the vaccine will even work, and is hugely divided on valuation," Yee noted. For his part, Yee believes Moderna's vaccine will get approved and could do $5B-plus in orders over the next few years. As such, the analyst believes the stock will head higher.
LEVELING OFF OF TRENDS: JPMorgan analyst John Ivankoe upgraded Darden Restaurants (DRI) to Overweight from Neutral with a price target of $82, up from $74. As of late last week, less than 10% of the company's indoor dining rooms are closed, despite being in the middle of increased COVID-19 cases in several key states, Ivankoe told investors in a research note after hosting investor meetings with management. The company did not seem overly concerned about near-term sales trends as evidenced by several data sources showing a leveling off, as opposed to worsening sales trends, the analyst added. Further, he agrees with Darden's belief that the consumer will find restaurant dining as "more important than ever" following what is a presumed ending of this crisis by December 2021.
Tesla
+193.46 (+12.50%)
Disney
+0.55 (+0.46%)
Fox Corp.
-0.54 (-2.13%)
Use PARA
-0.09 (-0.39%)
AMC Networks
-0.16 (-0.66%)
Now WBD
-0.31 (-1.53%)
Lionsgate
-0.05 (-0.64%)
Lionsgate
-0.015 (-0.21%)
Use PARA
-0.09 (-0.36%)
Moderna
+4.18 (+6.68%)
Darden
+0.27 (+0.37%)