Check out today's top analyst calls from around Wall Street, compiled by The Fly.

MAXIM CUTS APPLE TO SELL: Maxim analyst Nehal Chokshi downgraded Apple (AAPL) to Sell from Hold with a $190 price target, stating that his survey data lead him to project iPhone revenue in fiscal Q2 that is 14% below consensus iPhone revenue that is 6% below consensus for fiscal year 2020. He also expects operating profit to decline year-over-year due to his below consensus iPhone view, said Chokshi, who also reduced his FY20-FY22 estimates. Chokshi argued that "applying peak multiples to peak earnings is unjustified."

ARGUS BOOSTS UBER TO BUY: Argus analyst Jim Kelleher upgraded Uber (UBER) to Buy from Hold with a $35 price target. The analyst believes that the competitive landscape in the company's core Rides and Eats businesses is improving. At 33% market share of the global ride hailing industry, Kelleher added that the company has the "network efficiencies" and scale for further growth. The analyst further stated that many recent IPOs have underperformed amid investing rotation from growth to value, but believes that in Uber's case, the selloff is a buying opportunity since the company's "fundamentals have remained intact" despite the lower stock price.

GOLDMAN CUTS KRAFT HEINZ TO SELL: Goldman Sachs analyst Jason English downgraded Kraft Heinz (KHC) to Sell from Neutral with an unchanged price target of $29. The shares are up 15% since the company reported Q3 results on October 31, English noted. However, he believes Kraft Heinz's profit will continue to "shrink" and that its EBITDA "has not yet found a floor." The company has under-invested in multiple areas and now faces renewed cost pressure in dairy, and potentially protein next year, contended the analyst. Further, he sees little opportunity for new cost savings and expects cost pressure to be only partially passed through successfully, "translating into sustained EBITDA erosion."

HSBC DOWNGRADES AT&T, VERIZON, T-MOBILE, ALTICE: HSBC analyst Sunil Rajgopal downgraded to Hold from Buy shares of AT&T (T), Verizon Communications (VZ), T-Mobile (TMUS) and Altice USA (ATUS). The analyst's only Buy in US Telecoms is now Comcast (CMCSA, CMCSK). Rajgopal kept Reduce ratings on both Dish (DISH) and Sprint (S). The "evolving content business model" and increasing competition led the analyst to be more cautious on the pay-TV business and operators with greater exposure to content revenues. Producers are increasingly distributing their content directly to consumers rather than relying on the cable and satellite aggregators, Rajgopal noted. In addition, the entry of a "well-funded" companies like Apple into content production and distribution "with its low sticker price adds to the concerns," contended the analyst. Rajgopal cut his pay-TV subscriber estimates for Comcast, AT&T, Charter and Altice USA to reflect his more cautious stance. The analyst lowered his price target for Altice USA to $28 from $30, raised his price target for AT&T to $42 from $38, raised his price target for Verizon to $65 from $62, and kept an $86 price target on T-Mobile.

BERENBERG STARTS BEYOND MEAT AT BUY: Berenberg analyst Donald McLee initiated coverage of Beyond Meat with a Buy rating and $100 price target. The plant-based meat category is in the early stages of a "second evolution," McLee told investors in a research note. He believes its addressable market is expanding beyond the traditional vegan and vegetarian consumer, and expects this trajectory will continue "as major food manufacturers enter the space and the category matures." The analyst views Beyond Meat as among the best positioned to capitalist on the "burgeoning" plant-protein market.