(This is CNBC Pro's live coverage of Friday's analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) A glasses retailer and an exercise equipment maker were among the stocks being talked about by analysts on Friday.
JMP Securities upgraded Warby Parker to market outperform, calling for more than 40% upside. Meanwhile, JPMorgan lowered its rating on Peloton. Check out the latest calls and chatter below.
All times ET. 5:57 a.m.
: Piper Sandler upgrades Chewy to overweight The outlook for Chewy seems bright ahead of its next quarterly earnings call, according to Piper Sandler. As Piper Sandler transferred coverage between analysts, the investment firm upgraded shares of the pet retailer to an overweight rating from neutral. Analyst Anna Andreeva also raised the stock's price target to $35 from $22.
This implies that shares of Chewy could rise 33% from their current levels. Shares of Chewy have gained 11% in 2024. Andreeva believes that this trend could continue higher on the back of rising gross margin expansion and automation and efficiency gains.
"While it's too early to tell if new pet adoption trends have meaningfully, any degree of positive new pet formation trends for a category leader like CHWY would be constructive for the stock," she wrote. Andreeva cited Piper Sandler's positive pet survey findings that showed strong interest in new pet ownership. Another upcoming catalyst for Chewy is its second-quarter earnings report, due.