Investments

Here are the biggest analyst calls of the day: Roku, Netflix, Tesla, Alphabet, Facebook & more

Here are the biggest analyst calls of the day: Roku, Netflix, Tesla, Alphabet, Facebook & more

Key Points

  • Needham raised its price target on Roku to $200 from $150.
  • UBS upgraded Boston Beer to buy from neutral.
  • Citi resumed coverage of Netflix as neutral from buy.
  • Piper Jaffray initiated Facebook as overweight.
  • Piper Jaffray initiated Alphabet as overweight.
  • Piper Jaffray raised its price target on Tesla to $423 from $372.
  • Deutsche Bank resumed coverage of Ulta as buy.
  • Facebook Chairman and CEO Mark Zuckerberg testifies at a House Financial Services Committee hearing in Washington, October 23, 2019.

    Here are the biggest calls on Wall Street on Tuesday:

    Needham raised its price target on Roku to $200 from $150

    Needham's Laura Martin raised her price target on the stock and said Roku would be the "winning aggregator" of TV and films. The stock rebounded in the premarket on Martin's call after plunging 15% on Monday following a downgrade by Morgan Stanley.

    "In 2020, Roku's key upside valuation driver will be accelerating subscription SVOD revenues, which lowers investment risk, we believe. Additionally, Disney+, Apple+, Peacock/CMCSA and HBOMax/AT&T should accelerate customer acquisition spending, and Roku is a key beneficiary owing to its installed base of 32mm US connected-TV homes. In the US, we believe YouTube is the winning aggregator of user-generated videos and Roku will be the winning aggregator of TV and films. We calculate that YouTube's U.S. revenue is valued at over $100B. We raise our Roku PT to $200, from $150, based on falling risk."

    UBS upgraded Boston Beer to 'buy' from 'neutral'

    UBS upgraded the beverage maker citing the potential for earnings growth in 2020 and beyond as well as the company's "enduring" outlook for the hard seltzer category.

    "Truly's stellar growth in F19 failed to translate into meaningful earnings growth YTD as the company's heavy reliance on co-packers weighed on margins. We believe this headwind will ease into F20 with greater internal capacity coming. The extent of vertical integration and outlook for Truly growth will be key determinants of earnings growth for SAM and could provide upside to cons. forecasts."

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