Amazon, Constellation Brands, Alibaba & more

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The front desk of the Amazon office is pictured in New York, May 1, 2019.

Carlo Allegri | Reuters

Here are the biggest calls on Wall Street on Friday:

Piper Jaffray said Amazon shares may be worth $ 3000 in two years

Piper Jaffray said it was based on "conservative growth and valuation assumptions."

"We believe AMZN shares will reach $ 3,000 by sometime between mid-21s and mid-22s or within 24-36 months. We believe in multi-year deceleration in growth for every major category of Amazon's business. comps in the the cloud (AWS) and advertising segments, we have a high degree of confidence in the market segment. An AWS potential spin-off, however, would, no doubt, help to highlight the relatively low valuation of the Maintain OW segment and 12-month PT of $ 2,225. "

Read more about this call here.

Morgan Stanley downgraded Constellation Brands to 'equal-weight' from 'overweight'

Morgan Stanley downgraded the company in the stock of its January low.

"The downgrade is mainly focused on increasing the size of the market as a whole. we believe the market is now more appropriately discounting STZ's long-term corporate revenue growth prospects, the DCF market-implied + 5.5% LT growth forecast for STZ is close to our + 6% forecast. beer margin upside down in FY20, and with subpar weather and just OK results (based on scanner data and industry feedback) so far in fiscal Q1, we see some modest risk to our 8% Q1 beer depletion forecast We have long recommended, 1.721% over the last decade, by far the best performer in our coverage. change for us upside (as detailed above) and / or compelling valuation, which were the key drivers of our historical thesis. "

Bank of America upgraded Vale to 'buy' from 'neutral'

Bank of America said the "worst news" appears to be behind the mining company.

"We are upgrading to US $ 15.50 (R $ 60) from US $ 15.50 (R $ 60) from $ 14.50 US $ 6.5B in estimated fines, environmental remediation, lawsuits, and environmental clean up, after discussions with the Global Metals and Mining Conference last week.While civil lawsuits can be dragged no production impact goal reputational hit by rail disruptions and Gongo Soco dam risks.

J.P. Morgan upgraded Dow to 'neutral' from 'underweight'

J.P. Morgan said the risk / reward for Dow is "split more evenly."

"Our price target remains at $ 49. We believe that risk and reward for the future of the economy. In 2006, Dow's dividend yield is now 5.8%, which is expected to have a negative impact on price deterioration – except under the conditions of a prospective recession or materially. lower oil price – "

Piper Jaffray downgraded Big Lots to 'neutral' from 'overweight'

Piper Jaffray said it was primarily concerned about the retailer's exposure to tariffs on China.

"We are downgrading shares of BIG to a lower and lowering of our budget to $ 31 (8x 2020 EPS) .Our downgrade is based on a 1H estimates, and ongoing tariff concerns. (tax refunds, easy weather comparisons) However, we now believe Q1 was in-line at best, and Q2 appears to have a negative impact on Q1. Earnings Prices, BIG imports 21% of sales with a 25% rate of return, we are not able to calculate the value of our business. move to 8x EPS – inline w / other traffic-challenged retailers. "

Stifel added Alibaba to the 'select list'

Stifel said the recent pullback in the stock is an opportunity to buy.

"Shares have declined ~ 12% (versus the S & P 500 down ~ 1%) since the company reported F4Q: 19 earnings due to trade war concerns, an Altaba selling event, and over-the-counter investment in growth initiatives. 13x F2021 EBITDA, and is even cheaper on the company's core marketplace-based businesses (mainly Tmall and Taobao, 55% of F2019 revenue) .This compares to other large / megacap US or global eCommerce and digital advertising peers an average of 12x on forward- two year EBITDA, while Alibaba expects to maintain an organic growth rate in the mid-30% range in F2020, significantly above the peer-group. we believe the recent pullback has created an opportunity to own shares with a long-term investment horizon. "

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