Here are the biggest calls on Wall Street Friday: Citi reiterates GM as top pick Citi said it sees “growth and strength” heading into next week’s investor day. “We continue to view GM’s Nov. 17 Investor Day as a potentially positive catalyst, as it could provide much-needed clarity on two key fronts: Growth and Sustainability.” Benchmark reiterates Carvana as a holding Benchmark said it currently sees too much risk to recommend the stock. “Carvana’s brand recognition is, in our view, a competitive advantage, and its ability to leverage the latest technology positions the company as a premium name.” UBS is upgrading Werner to buy from neutral UBS, which it said is positive for several trucking names. “We upgrade three truck names to Buy from Neutral, including HTLD, WERN and SNDR, and reiterate our Buy on KNX. Freight stocks are slightly ahead of spot prices and our analysis shows that we are near the bottom in rates. Like spot rates. P to stabilize We expect the /E rating to support upside for truck names.” Morgan Stanley reiterates Apple as overweight Morgan Stanley says Apple continues to wait for some iPhone models. “iPhone 14 Pro/Pro Max delivery times are at record highs as COVID restrictions disrupt supply, although we don’t believe the situation has worsened since Monday.” Bank of America said reports of cost cuts at Amazon were “positive.” “We noted a shift in spending focus for the FANG group following disappointing 3Q results, with Meta’s recent layoffs being the most notable spending move.” JPMorgan downgrades Intel from overweight to underweight JPMorgan said a turnaround in its stock’s double downgrade could take years. “It’s important to note that our rating on INTC is a relative call on the group, for which we see positive movement over the next 12-18 months and we see INTC participating, but at a slower pace due to the merger, we think, with competitive pressures, execution ability related questions and macro headwinds.” Read more about this call. Raymond James Downgrades Fig Raymond James downgraded the health apparel company, saying “the bad news is out of the bag.” ” FIGS reported 3Q growth in revenue, GM% and EBITDA%, but lowered ’22 guidance (+22-26% prior revenue vs. +22-26% prior) and ~16% (previously 16-18%) EBITDA% ).” UBS repeats Ralph Lauren because UBS says Ralph Lauren is an “attractive turnaround fund.” “We see RL as a strong turnaround fund. We believe the stock will outperform NTM (next twelve months) due to EPS beats and P/E expansion.” Read more about this call. Wedbush Adds IMAX to Best Ideas List Wedbush says the big-screen movie company is well positioned. “We’re adding IMAX to Wedbush’s Best Ideas List. We see IMAX as 1) the best way to play the coming theater rebound, and 2) best positioned to capitalize on the ongoing consumer shift toward premium theater experiences. ” JPMorgan repeats Silvergate as overweight JPMorgan says crypto company’s exposure to FTX is excessive “However, we see the sell-off in SI stock as a dramatic overreaction due to speculation (mostly on Twitter) around potential implications for Silvergate from the recent market turmoil.” Citi opens negative catalyst watch on Foot Locker Citi said it was concerned that the company’s stores would not have Yeezy products, which would have a negative impact on the stock. “Our checks show that there will be no Yeezy stock in stores in 4Q (FL stores boxed up the products and returned them to Adidas). This means that FL is entering the most important holiday quarter (highest Yeezy/Jordan ratio). Release activity is happening.” gives) significantly fewer Jordan Retros and Yeezys.” Deutsche Bank names Walmart and BJ’s as top picks Deutsche said it sees “further improvement” in earnings next week. “While WMT, TGT, BJ, and DLTR have posted solid gains over the past three months — outperforming the SPX by 12 points — we see more bullishness ahead as we think there will be more evidence to support a bullish case through 2023.” More on this call read a lot. Piper Sandler reiterates Nvidia as Piper says investors should buy the stock heading into next week’s gains. “We are NVDA’s buyers for print next week and believe January quarter guidance will see a resumption of growth for the data center business.” JPMorgan reiterates Netflix as overweight JPMorgan says it has “increased confidence” in the streaming giant’s stock. “We continue to like NFLX stock and have increased confidence in the company’s ability to accelerate revenue growth, expand operating margins and increase FCF. Deutsche Bank Upgrades Walgreens to Buy on Hold Deutsche Bank said it felt more bullish after meeting with company management. “We are upgrading WBA stock to Buy because we recently had a senior executive (CEO, CFO, head of pharmacy) meeting at Walgreens, where investors focused on the recently announced Summit/Village MD acquisition deal and the company’s transition. to a healthcare services company.” Read more about this call. JPMorgan is launching GoDaddy because JPMorgan said it saw a huge market for GoDaddy during its venture into the Internet domain name company. “These companies are cloud-based for website building and e-commerce globally. provides tools.” Jefferies said he sees uncertainty in the ad market when buying Roku. “We launch ROKU with a Hold rating. We appreciate the flywheel in the first innings of OS, the ad network and its own channel + linear ad dollars moving to CTV.” Read more about this call. Piper Sandler downgrades Occidental to neutral Piper downgrades the stock to better upside elsewhere “After recent performance, we downgrade OXY to neutral because we see more bullishness elsewhere.” Bank of America downgrades Lumentum from buy to neutral Bank of America downgrades the telecom equipment company, saying margins are growing. “Longer term, we believe LITE remains positioned to benefit from datacom and telecom upgrades towards advanced, high-speed 400G/800G+ transmission solutions.” UBS downgrades GSK to sell from neutral UBS downgraded the pharmaceutical company, saying it , sees an “unattractive earnings scenario.” “At face value, GSK c9x trades at ’23E PE at double-digit EPS CAGR to ’26. It may not look demanding compared to its EU peer group, but we think so.” Piper Sandler reiterates Coinbase as overweight Piper says Coinbase is still well-positioned for the long term. “COIN is strategically well-positioned and has a solid balance sheet report should help them end the long-term ‘crypto winter’.” Bank of America Cuts Applovin from Buy to Neutral Bank of America downgrades the software company, saying it sees no near-term catalysts. “Despite the low stock price, we do not see near-term catalysts, with a new PO of $17 (down from $35 previously) We downgrade the APP from Buy to Neutral.