Friday’s 600-point sell-off in the Dow Jones industrials actually knocked out the 2020 gains, but just two weeks ago the market was at all-time highs. China’s stock market is back open after the Lunar New Year, and the market was down handily with concerns over the coronavirus still pressing. U.S. futures were indicated to open higher on Monday, and many investors have yet to make any major changes to their holdings after the incredible gains from 2019. This is an election year, and the Iowa caucus count is imminent, with much at stake. 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 with a goal of finding new ideas for traders and long-term investors alike. Some of the daily analyst calls cover stocks to buy, while some calls 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 of the calls. The consensus analyst price targets and other valuation metrics are from the Refinitiv sell-side research service.
These are the top analyst upgrades, downgrades and initiations from Monday, February 3, 2020.
Aimmune Therapeutics Inc. (NASDAQ: AIMT) was down 2.9% at $31.05 on Friday, but after the close the FDA approved its peanut allergy drug. The shares were last seen up about 16% at $36.00, versus a prior consensus target price of $47.82. Cantor Fitzgerald reiterated it as Overweight and raised its target price to $64 from $55.
Amgen Inc. (NASDAQ: AMGN) closed down 4.5% at $216.05 on Friday, with a prior consensus target price of $246.41. SunTrust Robinson Humphrey reiterated it as Buy and raised its target price to $265 from $254.
Applied Materials Inc. (NASDAQ: AMAT) was raised to Buy from Hold and the target price was raised to $72 from $60 at Deutsche Bank. Shares closed down 3.75% at $57.99 on Friday, with a prior consensus target price of $68.74.
Biogen Inc. (NASDAQ: BIIB) closed down 3.1% at $268.85 on Friday, with a prior consensus target price of $309.56. SunTrust Robinson Humphrey reiterated its Buy rating and raised its target price to $360 from $335.
Bluebird Bio Inc. (NASDAQ: BLUE) was upgraded to Outperform from In-Line and its target was raised to $100 from $86 (versus a $79.96 prior close, after a 3.1% drop) at Evercore ISI.
Carrols Restaurant Group Inc. (NASDAQ: TAST) was reiterated as Buy with a $12 target price (versus a $4.54 close) at SunTrust Robinson Humphrey. The stock was down 3.6% on Friday, and its consensus target price was $10.50.
Charter Communications Inc. (NASDAQ: CHTR) was up almost 5% at $517.46 on Friday after earnings. Raymond James reiterated the shares as a Strong Buy and raised its target price to $600 from $525. Credit Suisse upgraded it to Outperform from Neutral and raised its target price to $600 from $520.
Chevron Corp. (NYSE: CVX) was down 3.8% at $107.14 on Friday with the market sell-off and after earnings. Credit Suisse maintained its Outperform rating but cut the target price to $128 from $135.
CRISPR Therapeutics A.G. (NASDAQ: CRSP) was downgraded to In-Line from Outperform and its target price was lowered to $52 from $85 (versus a $51.95 close) at Evercore ISI. The prior consensus target price was $77.50.
Danaher Corp. (NYSE: DHR) was reiterated as Buy and its target price was raised to $187 from $167 (versus a $160.87 close) at Needham. It had a $173.19 consensus target price.
Electronic Arts Inc. (NASDAQ: EA) was downgraded to Market Perform from Outperform and its target price was lowered to $110 from $130 at BMO Capital Markets.
Exxon Mobil Corp. (NYSE: XOM) closed down 4.1% at $62.12 on Friday with the market and after earnings disappointed. Goldman Sachs downgraded it to Sell from Neutral and lowered its target price to $59 from $72. Credit Suisse maintained its Neutral rating but lowered its $70 target to $65.
FormFactor Inc. (NASDAQ: FORM) was named as the Bull of the Day at Zacks, which said that earnings form chip stocks have been very solid so far this quarter. Shares most recently closed at $25.31 and have a consensus price target of $26.32.
Harley-Davidson Inc. (NYSE: HOG) was named as the Zacks Bear of the Day stock. The firm said that after a small miss earnings estimates dropped and there might not be gas left in the tank for this stock. Shares last closed at $33.40, with a consensus price target of $36.25.
Monster Beverage Corp. (NASDAQ: MNST) was raised to Overweight from Equal Weight and its target price was raised to $78 from $70 (versus a $66.60 close) at Morgan Stanley. Shares were indicated up 1.8% at $67.80, and the prior consensus target price was $68.85.
Nektar Therapeutics (NASDAQ: NKTR) was raised to Buy from Neutral and its target price was raised to $35 from $21 (versus a $19.89 close) at Mizuho. The consensus target price was $33.15, and the 52-week trading range is $15.64 to $47.11.
New Relic Inc. (NYSE: NEWR) was raised to Strong Buy from Market Perform with an $83 target price (versus a $66.01 close) at Raymond James. It has a 52-week range of $50.00 to $109.00, and its consensus target price was $78.71.
Nike Inc. (NYSE: NKE) was raised to Buy from Neutral and the target price was lifted to $136 from $103 (versus a $96.30 close, after a 1.9% drop) at UBS. Nike was indicated up 2% at $98.30 a share on Monday.
Northrop Grumman Corp. (NYSE: NOC) was downgraded to Sell from Buy at Goldman Sachs. Shares closed at $374.57, in a 52-week range of $263.29 to $385.01. The consensus price target is $423.72.
Snap Inc. (NYSE: SNAP) was reiterated as Outperform and its target price was raised to $25 from $22 at Credit Suisse. It closed at $18.38 a share, in a 52-week range of $6.70 to $19.75. The consensus price target is $19.18.
Uber Technologies Inc. (NYSE: UBER) was reiterated as Outperform at Wedbush Securities, but the firm added it to the prized Best Ideas List and raised its target price to $50 from $45. Uber’s growth dynamics, pricing rationalization in ride-sharing and Uber Eats are said to offer growth that can it get back to its IPO price and then some out into 2021. Uber closed at $36.29, in a 52-week range of $25.58 to $47.08. The consensus price target is $44.83.
Ulta Beauty Inc. (NASDAQ: ULTA) was raised to Buy from Neutral and its target price was raised to $307 from $285 at Goldman Sachs. The stock closed at $267.91, in a 52-week range of $222.00 to $368.83. The consensus price target is $283.43.
Verizon Communications Inc. (NYSE: VZ) was downgraded to Neutral from Outperform with a $65 target price at Credit Suisse. Verizon closed at $59.44, in a 52-week range of $53.02 to $62.22. The consensus price target is $61.71.
ViacomCBS Inc. (NASDAQ: VIAC) was downgraded to Neutral from Outperform and its target price was lowered to $37 from $52 at Credit Suisse. Shares closed at $34.13, in a 52-week range of $33.49 to $53.71. The consensus price target is $45.88.
There are 10 big stocks that are likely to keep avoiding most of the coronavirus panic.
Friday’s top analyst upgrades and downgrades included Amazon.com, Amgen, Coca-Cola, Danaher, Electronic Arts, IBM, Proofpoint, Sprint, UPS, Uber, Vertex Pharmaceuticals, Visa and many more.
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