NVIDIA computer graphic cards are shown for sale at a retail store in San Marcos, California.
Mike Blake | Reuters
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Here are the biggest calls on Wall Street on Friday:
Wedbush raised its price target on Domino’s Pizza to $500 from $445
Wedbush raised its price target on the stock to a Street high after the company posted earnings that fell short of expectations but saw a surge in quarterly sales.
“While quarter to-date trends were not provided, we believe at least high-teens same-store sales growth could sustain through early ’21. Once this year’s comps are anniversaried in 2021, we expect DPZ’s relative value and brand equity in both delivery and takeout to remain the primary drivers of SSS growth above expectations, supported by continued menu innovation, retention of incremental digital transactions, ongoing rationalization of 3PD behavior, and higher marketing dollars.”
William Blair upgraded Wayfair to outperform from market perform
William Blair said in its upgrade of Wayfair that the stock’s valuation is not “overdone” and that it sees “misplaced” negative sentiment.
“While the move in shares over a short period of time is an intimidating entry point, we believe it is in large part reflective of poor communication on the part of management about near-term profitability expectations, and misplaced negative sentiment that long weighed on shares as the company was strengthening its competitive positioning via heavy investment spending. Meanwhile, current valuation does not seem overdone when compared to a basket of digital retailers with high repeat spending.”