Here are Tuesday's biggest analyst calls of the day: Costco, SeaWorld, Beyond Meat, Nvidia & more

Published Tue, Oct 6 20208:09 AM EDTUpdated Tue, Oct 6 202011:06 AM EDT

Key Points

Piper Sandler raised its price target on Beyond Meat to $178 from $130.
RBC upgraded Northrop Grumman to outperform from sector perform.
JPMorgan upgraded Advance Auto Parts to overweight from neutral.
Barclays upgraded Costco to overweight from equal weight.
JPMorgan reinstated Madison Square Garden Sports as overweight.
Credit Suisse upgraded SeaWorld to outperform from neutral.
JMP initiated Generac as outperform.
BMO raised its price target on Nvidia to $650 from $565.

(This story is for CNBC PRO subscribers only.) Here are the biggest calls on Wall Street on Tuesday: Piper Sandler raised its price target on Beyond Meat to $178 from $130 Piper Sandler raised its price target on Beyond Meat after concluding from its latest teen survey that the alternative meat company is becoming a "rapidly growing space" for teens and young people. "Our latest Piper Sandler Teen Survey included questions on plantbased meat, which gives us color on consumer preferences in the rapidly growing space. Of the teens surveyed, 47% either consume or are open to consuming plant-based meat, in-line with our prior survey that found an inverse relationship between age and interest in consuming plant-based meat. This suggests plant-based eating is more on-trend with younger consumers, which could drive growth over time as consumers age." Read more about Piper's teen survey here and here . RBC upgraded Northrop Grumman to outperform from sector perform RBC said in its upgrade of the Northrop Grumman that it sees a "compelling" risk/reward. "The combination of the recent [Air Force] Ground Based Strategis Deterrent initial contract award, which should level set expectations, and the stock's 3Q underperformance sets up a compelling risk/reward profile for this blue-chip defense pure play, in our view." JPMorgan upgraded Advance Auto Parts to overweight from neutral JPMorgan upgraded the auto parts retailer and said it sees the company's margin story blossoming in 2021 and 2022. "Our upgrade is based on the following: strong/sustainable current trends bridging to an easy winter weather comparison with this year looking relatively better vs. an acutely warm winter last year that hurt AAP more than peers. ... AAP's margin story blossoms in 2021 and more so in 2022 as the company progresses on its transformation." Barclays upgraded Costco to overweight from equal weight Barclays said in its upgrade of the stock that traffic remains "robust" and gross margin expansion appears "sustainable" in to the future. "The premise of our upgrade is the following : 1) When looking at the greater essential retailer space, COST' s comparisons are not particularly tough in calendar 2021; 2) many components of COST's recent gross margin expansion appear sustainable and as certain tailwinds fall off (i.e., extremely low levels of shrink), we expect that certain related headwinds will reverse/return; 3) traffic levels remain robust and continue to improve." Read more about this call here. JPMorgan reinstated Madison Square Garden Sports as overweight JPMorgan reinstated coverage of the sports holding company that owns the Knicks and the New York Rangers and said it's bullish on the company returning strong ticket sales after the coronavirus passes. "Factors underlying Knicks and Rangers value growth are sustainable, in our view. We believe valuations of professional franchises are largely a function of team revenue and comparable transactions. Ticket sales are currently suspended due to COVID-19, though we see potential for improvement in the flattish trend seen for MSGS over the past few seasons, assuming better performance ahead (the NYR have the #1 pick in the upcoming draft)." Credit Suisse upgraded SeaWorld to outperform from neutral Credit Suisse said in its upgrade of the stock that it's now more "constructive" with "low expectations." "When we initiated coverage of SEAS at Neutral, there were three concerns that made us cautious: (1) impact from Epic Universe in Orlando, (2) a cost structure that looked fully optimized, or close to it, and (3) high leverage to Orlando. Since the COVID-19 outbreak, we believe the data points surrounding those headwinds have either changed or are now fully priced in, making us more constructive on a stock with relatively low expectations." JMP initiated Generac as outperform JMP said in its initiation of the backup battery company that it was "well-positioned" and a "leader" in the home energy storage market. " GNRC is a dominant supplier of residential backup power solutions, with its Guardian line of home standby units as well as smaller portable generators. Additional products include commercial and industrial power backup products. The company has recently begun to move into home energy storage with its PWRcell lineup, and we believe GNRC has the potential to be very successful in this market." BMO raised its price target on Nvidia to $650 from $565 BMO raised its price target on the stock and said it sees higher earnings-per-share "potential" as the company continues to innovate with new products and offerings. " NVIDIA' s pace of innovation appears to be accelerating, and its execution is going into overdrive as it continues to expand its ecosystem and open up a much larger TAM in the compute landscape. The latest GPU Technology Conference revealed the progress NVIDIA continues to make in a seemingly short time to layer on new offerings after a year of pretty significant product rollouts. We see higher EPS potential a few years out and, thus, are raising our target price to $650 from $565."