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

GROWING TECH LEAD: Deutsche Bank analyst Emmanuel Rosner upgraded Tesla (TSLA) to Buy from Hold with a price target of $500, up from $400. The analyst noted that the company's Battery Day showcased an "impressive trajectory" for Tesla's technology, capacity and cost, which should help accelerate the world's shift to electric vehicles and extend the company's lead "considerably."

While investor expectations into the event were high, Tesla's plan to achieve 56% reduction in battery cost over the next three years came in "considerably better than anticipated, and could materially boost its volume and margin outlook," Rosner added. The analyst also increased Tesla's earnings estimates to incorporate lower battery costs and higher volumes, and said he now sees the company delivering 2M-plus vehicles and generating $15 in earnings per share by 2025. With the stock down as traders "sell the news," longer-term investors should take advantage of weakness to buy Tesla as the best way to invest in vehicle electrification, he contended.

'MATURING' IPHONE GROWTH: UBS analyst David Vogt downgraded Apple (AAPL) to Neutral from Buy with a price target of $115, up from $106, after assuming coverage of the name. Services revenue has increased at a rate of 23% per year over the past four years, but "product" revenue has grown in the low single digits as iPhone, Mac, and iPad have struggled, the analyst told investors in a research note. Vogt also warned that following a COVID-related one-time bump in Macs/iPads and a one-year iPhone 12 cycle, in fiscal year 2021, "product" revenue should revert back to low-single digit growth over the next three years. The analyst further stated that with valuation of 29-times his expected next-12-month earnings and 1.5-standard deviations above trailing 1-year mean, Apple shares already price in the 5G cycle-related growth.

Additionally, the analyst also assumed coverage of

• HP Inc. (HPQ) with a Buy rating, up from Neutral;
• Dell Technologies (DELL) with a Buy, up from Neutral;
• Arista Networks (ANET) with a Buy rating;
• Accenture (ACN) with a Neutral rating;
• Juniper Networks (JNPR) with a Neutral rating;
• IBM (IBM) with a Neutral rating;
• Cisco Systems (CSCO) with a Neutral rating;
• HP Enterprise (HPE) with a Neutral rating.

BETTER THAN EXPECTED QUARTERLY RESULTS: Deutsche Bank analyst Paul Trussell upgraded Nike (NKE) to Buy from Hold with a price target of $151, up from $107, following better than expected first quarter results. Near-term concerns regarding elevated inventory levels in the channel and reduced orders from wholesale partners have not played out, Trussell told investors in a research note. The analyst believes Nike is a better, more profitable company today than it was a year ago and "there is quite a short list of entities that have been able to achieve that." He believes the case can be made for $6 in earnings per share by 2025.

BUY TWITTER: Pivotal Research analyst Michael Levine upgraded Twitter (TWTR) to Buy from Hold with a price target of $59.75, up from $36. The analyst likes the Olympics coming in 2021, direct response beginning to kick in, and Twitter's potential subscription business. The company's third quarter earnings report and forward commentary are likely to act as positive catalysts for the stock, Levine told investors in a research note. In addition, the analyst pointed out that investor sentiment is "by far the most negative in our coverage" and as a result, the "rubber band for stock out-performance the greatest." Levine believes the changes Twitter has made around the process of onboarding new users over the last few months has meaningfully improved.

SELL AMERICAN EXPRESS: Bank of America analyst Mihir Bhatia downgraded American Express (AXP) to Underperform from Neutral with a decreased $95 price target, citing concerns about near-to-medium term billing volumes, particularly from airline and lodging spending. While the analyst has been impressed by AmEx's execution and resilience during COVID-19, the firm's global travel survey and industry commentary indicate that travel spending could take some time to fully recover.