Here are Wednesday's biggest analyst calls of the day: Nvidia, Amazon, Caesars, Simon, Clorox & more
Here are the biggest calls on Wall Street on Wednesday: Jefferies reiterates Live Nation as buy Jefferies kept its buy rating on shares of the concert and ticketing company and said it's one of the best ways to play the coronavirus recovery. "We believe LYV is still one of the simplest plays on the COVID recovery among the stocks under our coverage, as evidenced by the upside in the quarter and supporting commentary. Although the next 1-2 quarters are less clear, the strength of demand trends and minimal obstacles to upside through 2023 are not reflected in Street numbers or in the shares." Rosenblatt raises price target on Nvidia to $250 from $200 Rosenblatt raised its price target on shares of Nvidia and said it was a "best-in-class" artificial intelligence play. "We are taking our price target for Buy rated NVDA to $250 from $200 based on earnings power over $6.00 for FY24 (calendar 2023) on best-in-class AI play with growth vectors into next generation networking/DPU (data processing unit) adoption and early-days of autonomous driving software kicker." Deutsche Bank reiterates Alibaba as buy Deutsche Bank kept its buy rating on the China e-commerce company and said Alibaba is "gaining traction" from investments, but investors should watch for regulatory compliance issues. "New initiative investments and regulatory compliance (including antitrust, cyber security, labor rights, etc.) will remain the focus in the near term to forge longer-term sustainable growth, in our view." JMP initiates coverage of Rover as market outperform JMP said the online pet marketplace has a significant competitive advantage. "With pet adoption in the U.S. +35% in 2020 and with two-thirds of U.S. households (~85 million) having at least one pet, we believe Rover's number of high-quality pet care providers is difficult to replicate, which we believe positions the marketplace well for when travel rebounds overall." Bank of America upgrades Simon Property to buy from neutral Bank of America upgraded the real estate and mall company and said Simon's earnings report on Tuesday exceeded expectations. "We raise our PO to $150 from $141 and upgrade SPG t o Buy from Neutral. Big picture, SPG's 2Q results far exceeded our expectations." Loop reiterates Amazon as buy Loop reiterated its buy rating on Amazon after the company's "rare" top-line earnings miss last week and said it's still bullish on the stock. "That said, we believe this was largely due to difficulties forecasting the impacts of a return to normalized consumer shopping behavior as well as anniversarying difficult "pandemic-inflated" results from last year. In addition, we saw positive signs in the results and expect online stores sales growth to reaccelerate as one-day delivery availability improves." Read more about this call here. Morgan Stanley reiterates Activision Blizzard as overweight Morgan Stanley called the video game company a top pick after its earnings report on Tuesday and said it's bullish on Activision's pipeline of products. "We are buyers of ATVI at 17x our '22e EPS and leave 2Q with incremental confidence in the pipeline." Atlantic Equities downgrades Clorox to neutral from overweight Atlantic Equities said in its downgrade of the cleaning products company that the stock has limited near-term visibility. "Our positive stance on Clorox was predicated on its ability to emerge from the pandemic with a permanently elevated sales base, FY22 guidance implies that this is likely still the case, although near term visibility remains limited." JPMorgan upgrades Under Armour to overweight from neutral JPMorgan upgraded Under Armour after its earnings report on Tuesday and said it sees industry growth and earnings potential in the rest of 2021. "Looking ahead, mgmt raised its FY21 revenue outlook to +low-20s (vs. high-teens prior) equating to a $5.4B base or up high-single-digits to FY19's pre-pandemic level." Wells Fargo initiates coverage of Victoria's Secret and names it a top pick Wells said the lingerie retailer's stock is a "compelling story." "While our prior bull thesis on LB had been predicated on hidden value for the robust BBW concept, at current levels we now view VSCO as the underappreciated asset with the more compelling story. Wells Fargo initiates coverage of Bath & Body Works as overweight Wells said that it sees a "robust" growth trajectory for the retailer. "Now having spun off the VSCO, BBW is a stand-alone company, with industry-leading margins and market share, a robust growth trajectory, category tailwinds and a flexible supply chain." Cowen upgrades Capri Holdings to market outperform from market perform Cowen upgraded the owner of Michael Kors and other labels, saying the company has "brand momentum." "We upgrade CPRI to Outperform as we are more confident in (1) Michael Kors product, inventory, pricing execution; (2) Versace brand & margin momentum as segment doubles to $2bn revenues; and (3) modest valuation at ~11x & solid 7% FCF yield on our FY2 estimate." Bank of America initiates coverage of Victoria's Secret as buy Bank of America said Victoria's Secret is a "compelling investment." "We view it as a promising retail turnaround and think that inexpensive valuation combined with new categories for growth make it a compelling investment." Jefferies reiterates Caesars as buy Jefferies kept its buy rating on the casino company after its earnings report on Tuesday and says it sees more upside in the stock. "Within the context of our broad view that stocks need several drivers for upside beyond the recovery thesis, CZR fits well. The commentary about further opportunities for upside within the land-based portfolio, the early stage opportunities in digital and near term divestitures, should all provide further upside to current levels. Given the commentary to this end, we expect a positive reaction in the shares." Evercore ISI reiterates Lyft as outperform Evercore reiterated its outperform rating on the ride sharing company after its strong earnings report on Tuesday and said it sees robust rider demand. "Fundamentals improved. Q3 Revenue Guide roughly bracketed the Street, with LYFT needing to lean heavily into driver incentives to keep up with surging rider demand. We see Q2 or Q3 as the peak driver incentives quarter and see clear signs of strong rider demand recovery, so we are incrementally more constructive."

Signage outside Caesars Palace hotel and casino in Las Vegas, Nevada, on Sunday, May 02, 2021. Roger Kisby | Bloomberg | Getty Images