Stocks handily regained what looked to be big initial losses on Wednesday, and the markets were indicated higher on Thursday for what may be new all-time highs. For those who did not make all of their portfolio shifts and changes during a very strong market in 2019, it is time to reconsider how to be positioned for 2020. Many market risks, concerns and headlines still may come with worry, but trade tensions are abating and global growth may see a rekindled strength this year, while interest rates are expected to remain stable. This is also an election year in which much is at stake, and strategists are by and large calling for single-digit percentage gains in 2020.
24/7 Wall St. reviews dozens of analyst research reports each day of the week. Our goal is to find new ideas for traders and long-term investors alike. Some of the daily analyst calls cover stocks to buy, while some cover stocks to sell or to avoid.
We have provided these analyst calls in a quick-hit summary for easy reading, and additional comments and trading data have been added on many calls. The consensus analyst price targets and other valuation metrics come from the Refinitiv sell-side research service.
Our 2020 Bull/Bear Outlook sees the Dow rising by about 7.4% to 30,650 this year, but there are outliers that could help the Dow rise by over 10% after a very strong 2019. The upside scenario puts Dow 32,000 easily within reach if only a few things go right this year.
These are the top analyst upgrades, downgrades and initiations from Thursday, January 9, 2020.
Advanced Micro Devices Inc. (NASDAQ: AMD) was raised to Buy from Neutral at Mizuho, and the firm raised its target price to $55 from $38 in the call. AMD previously closed at $47.83, and it had a $39.99 consensus target price ahead of the call.
Altice USA Inc. (NYSE: ATUS) was started as Outperform with a $32 target price (versus a $28.83 prior close) at Raymond James.
American Express Co. (NYSE: AXP) was started with a Neutral rating and a $124 target price at Robert W. Baird. Shares closed at $125.54 and had a $131.78 consensus target price.
Apache Corp. (NYSE: APA) was raised to Equal Weight from Underweight with a $34 target price (versus a $32.73 close) at Barclays.
Coca-Cola Co. (NYSE: KO) was upgraded to Outperform from Neutral and its target price was raised to $64 from $54 at Credit Suisse. Shares previously closed at $54.35, and the consensus target price was $58.76.
DBV Technologies S.A. (NASDAQ: DBVT) was raised to Buy from Hold with an $18 target price (up from $10 previously, and versus an $11.24 close) at Stifel. It had a consensus target price of $15.18 ahead of the call, but its shares were indicated up 20% at $13.50 on Thursday morning after news of positive three-year long-term study data from a Phase 3 open-label extension study of Viaskin Peanut in children.
Devon Energy Corp. (NYSE: DVN) was raised to Overweight from Equal Weight with a $37 target price at Barclays. The stock previously closed down 3.55% at $25.55, and its consensus target price was $30.54.
Fiat Chrysler Automobiles N.V. (NYSE: FCAU) was named as the Zacks Bear of the Day stock. The firm said that shares have fallen 35% in the past two years and its planned merger with Peugeot still awaits regulatory approval. Shares last closed at $14.25 and have a consensus price target of $18.18.
Ford Motor Co. (NYSE: F) was started as Hold at Benchmark.
General Motors Co. (NYSE: GM) was started with a Buy rating and a $49 target price (versus a $34.65 close) at Benchmark.
Goldman Sachs Group Inc. (NYSE: GS) was raised to Buy from Neutral and the price objective was raised to $270 from $245 (versus a $237.76 close) at Merrill Lynch.