Here are the biggest calls on Wall Street on Thursday
"MS is now up ~22% year-to-date, outperforming the BKX by ~500 bps. After a 2.6% increase on earnings today, the stock is now in line with our $48 target price. Though we believe MS has very high quality franchises and has the potential to continue to gain market share, we'd rather be on the sidelines in the near-term. We're downgrading the stock to Neutral as a result and maintain our $48 target.""We are initiating coverage of Yelp at Outperform with a $45 target price.
Goldman Sachs upgraded Pepsi after the company reported strong earnings and the bank's analysts found increased confidence in management. "We upgrade shares of PEP to Neutral from Sell and raise our 12-month price target to $132 post a strong 1Q19 where we saw organic revenue growth accelerate to 5%+ and gross margins came in better than expected. Separately, we also hosted a group visit to PEP's headquarters and met with CEO Ramon Laguarta and CFO Hugh Johnston and walked away with increased confidence that PEP's snack momentum is likely to continue and see ample cushion to 2019 EPS guidance.
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