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TWTR, W, GRPN...
3/1/2021 10:03am
Twitter, Wayfair upgrades among today's top calls on Wall Street

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

IMPROVED 2021 OUTLOOK: Cleveland Research analyst Chandler Converse upgraded Twitter (TWTR) to Buy from Neutral, as he said his checks indicate first quarter advertiser budget growth with Twitter looks to be improving on benefits from branding recovery, diversification, and its early direct response progress. His checks also point to a 2021 outlook that appears stronger given the digital shift, return of live events, and the company's new product launches, Converse told investors.

IMPROVED LONG-TERM PROFITABILITY: Truist analyst Naved Khan upgraded Wayfair (W) to Buy from Hold with a price target of $370, up from $315, reflecting an expectation for improved long-term profitability and a faster/longer growth trajectory versus previously anticipated. Khan believes the company is set to emerge from the pandemic stronger after solidifying its position as category leader in Home and an improvement in business underpinnings, driving healthy sales growth and improving profitability over an extended period.

NEW MARKETPLACE STRATEGY: JPMorgan analyst Doug Anmuth upgraded Groupon (GRPN) to Neutral from Underweight with a price target of $48, up from $23, after the company reported gross profit and adjusted EBITDA that were ahead of his estimates. The analyst is "increasingly constructive" on Groupon's strategy to modernize its marketplace and remain disciplined on the cost side. While Anmuth acknowledged that first quarter trends are choppy, he expects a stronger recovery in the second half of 2021.

LONG-TERM GROWTH OPPORTUNITIES: JPMorgan analyst Paul Coster upgraded Plug Power (PLUG) to Overweight from Neutral with an unchanged price target of $65. In the context of the company's "many long-term growth opportunities," the stock is attractively priced at current levels ahead of potential positive catalysts, Coster told investors in a research note. These include additional "pedestal" customer wins, partnerships and joint ventures that enable Plug Power to enter new geographies and end-market applications quickly and with modest capital commitment, he added.

BUY SUNRUN: Capital One analyst Richard Tullis upgraded Sunrun (RUN) to Overweight from Equal Weight with a price target of $90, up from $73 following the company's fourth quarter report, citing an improved 2021 growth outlook and enhanced acquisition synergies. His solar energy capacity installed growth, customer additions, and net subscriber value estimates for 2021 are all improved following the company's report and guidance, Tullis contended.

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