Stocks started out the week looking for direction. Despite last Friday’s selling pressure, the major indexes remain close to all-time highs, even as the coronavirus numbers grow. Many investors have yet to make any major changes to their holdings after the incredible gains from 2019. This is an election year with much at stake, and strategists are largely 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 try to find 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 10, 2020.
AbbVie Inc. (NYSE: ABBV) was reiterated as Buy and the target price was raised to $104 from $96 at Mizuho. Shares closed up almost 6% at $92.29 on Friday, with a $95.42 prior consensus target price.
Air Products & Chemicals (NYSE: APD) was raised to Overweight from Equal Weight at Morgan Stanley.
Akero Therapeutics Inc. (NASDAQ: AKRO) was started as Buy with a $36 target price (versus a $26.009 prior close) at Canaccord Genuity.
Apple Inc. (NASDAQ: AAPL) was reiterated as Buy with a $400 price target by Wedbush Securities, but the firm noted that a delay in production resumption at Foxconn due to the coronavirus would act as a shock to the system and result in supply chain disruption further for iPhone and AirPods production.
Aramark Corp. (NYSE: ARMK) was started with a Sell rating and a $39 target price (versus a $40.77 close) at Citigroup. It had a $48.31 consensus target price and a 52-week trading range of $25.49 to $47.22.
Arch Coal Inc. (NYSE: ARCH) was started with a Buy rating at Benchmark. After closing down 3.1% at $55.69 on Friday, its shares were down almost 4% more at $53.50 in early trading indications on Monday. The prior consensus target price was $93.67.
Canada Goose Holdings Inc. (NYSE: GOOS) was downgraded to Market Perform from Outperform at Cowen, and Goldman Sachs also downgraded it, to Neutral from Buy. The stock closed down almost 4.4% at $31.84 on Friday, with a $32.90 consensus target price.
Deckers Outdoor Corp. (NYSE: DECK) was named as the Bull of the Day at Zacks, which said that the parent company of shoe brands UGG and Hoka One One is seeing soaring sales. Its shares most recently closed at $191.38 and have a consensus price target of $209.82.
Domtar Corp. (NYSE: UFS) was raised to Market Perform with a $36 target price (versus a $33.83 close) at BMO Capital Markets.
FedEx Corp. (NYSE: FDX) was raised to Buy from Neutral with a $187 target price (versus a $155.66 close) at UBS. FedEx has a $170.72 consensus target price.
F5 Networks Inc. (NASDAQ: FFIV) was raised to Buy from Hold with a $160 target price (versus a $123.58 close) at Needham. Its consensus target price was $149.77.
Ford Motor Co. (NYSE: F) was maintained as Overweight but the target price was lowered to $11 from $12 (versus an $8.11 close) at Morgan Stanley.