Here are Wednesday's biggest analyst calls of the day: Peloton, DraftKings, Virgin Galactic & more

Published Wed, Sep 9 20208:46 AM EDT

Key Points

BMO upgraded Sherwin Williams to outperform from market perform.
Credit Suisse reinstated Virgin Galactic as outperform.
Evercore ISI initiated DraftKings as outperform.
Deutsche Bank initiated Stitch Fix as buy.
Goldman Sachs raised its price target on Peloton to $110 from $96.

(This story is for CNBC PRO subscribers only.) Here are the biggest calls on Wall Street on Wednesday: BMO upgraded Sherwin Williams to outperform from market perform BMO upgraded the building materials company on a "strong" housing outlook. "We expect U.S. housing trends (existing home sales and new home builds) to remain strong through 2021 into 2022 based on a confluence of factors detailed in our report published today (see it here). This along with SHW's industry-leading share of the architectural coatings market in the U.S. should help SHW enjoy mid-teens EPS growth over the next few years, resulting in better-than-expected earnings in 2021/22." Credit Suisse reinstated Virgin Galactic as outperform Credit Suisse reinstated coverage of the space flight company and said it sees a "period of positive news flow" coming which could "drive multiple expansion." "Following a restriction related to the recent equity offering, we are reinstating coverage with a $24 TP and Outperform rating (Neutral prior) as SPCE progresses toward commercial operations and looks to enter a period of positive news flow, which could drive multiple expansion. While we had anticipated some slippage in first commercial flight even before COVID-19, this was based on the normal challenges of such a technically complex project." Evercore ISI initiated DraftKings as outperform Evercore ISI said in its initiation of the fantasty sports betting site and casino operator that the shares were "undervalued" with "long-term growth potential." "Our call on DKNG is fairly straightforward, the market under appreciates the pull forward in US states' plans to legalize online sports betting. The percentage of US citizens with access to online sports gambling is set to increase from 10% currently to more than 40% by the start of the 2022 NFL season. Our thesis is that this legislative acceleration will compound on DraftKings' technology and customer acquisition cost advantages, leaving shares undervalued relative to near and long term growth potential." Deutsche Bank initiated Stitch Fix as buy Deutsche initiated the online personal styling service and said it was the likely one one of the "biggest" coronavirus beneficiaries. "In our view, Stitch Fix is likely to be one of the biggest beneficiaries of the lockdowns and accelerated store closures, especially as it extends the Direct-Buy feature to non-subscribers over the next couple of quarters. We believe this will materially expand its addressable opportunity, which has largely gone unrecognized, and which creates potential for SFIX shares to outperform peers." Goldman Sachs raised its price target on Peloton to $110 from $96 Goldman raised its price target on the stock which tied a Street high and said the coronavirus had accelerated the company's adoption curve. Peloton is scheduled to report earnings on Thursday after the bell. "We continue to believe that the market is underestimating the long-term growth of Peloton as the current pandemic both steepens the adoption curve and accelerates the company's progress along it. Therefore, we are raising our sales/gross proﬁt estimates to account for the earlier-than-expected hardware launches and raising our 12-month price target to $110 from $96."