Top Analyst Upgrades and Downgrades: CBOE, Citrix, Etsy, ICE, Lululemon, Microsoft, Peloton, Regeneron, Twitter, United Rentals and More
Stocks managed to close higher on Thursday, but the Dow Jones industrials and S&P 500 were indicated to open lower on Friday morning after the unemployment report. Many investors are now looking for direction, with all the recent volatility. The big bull market turned into a roaring bear market in less than a month, and most of the bad recession data in the formal economic reports has not even been seen yet.
24/7 Wall St. reviews dozens of analyst research reports each day of the week. Our goal is to find new ideas for long-term investors and short-term traders alike. There are many upgrades, downgrades, reiterations and initiations that take place regardless of the volatile daily market gyrations. Some of analyst calls cover stocks to buy while some cover stocks to sell or avoid.
In recent weeks, many analysts have been handily lowering their target prices to deal with a new recessionary environment, but there are still many traditional upgrades and reiterations as if the economy wasn’t really been turned upside-down. Remember: no single analyst report should be used as a sole basis for any buying or selling decision.
Consensus analyst target prices are from Refinitiv.
These are the top analyst calls tracked for Friday, April 3, 2020.
CBOE Global Markets Inc. (BATS: CBOE) was raised to Buy from Neutral but the price target was lowered to $93 from $100 (versus an $81.14 prior close) at Citigroup.
Citrix Systems Inc. (NASDAQ: CTXS) was reiterated as Outperform and the price target was raised to $155 from $125 (versus a $142.52 close) at Raymond James.
Etsy Inc. (NASDAQ: ETSY) was maintained as Buy but the price target was slashed to $45 from $64 (versus a $34.80 close) at Needham. Also, BTIG maintained it as Buy but cut its target price to $52 from $67.
Intercontinental Exchange Inc. (NYSE: ICE) was raised to Buy from Neutral but the price target was lowered to $106 from $122 (versus a $92.37 close) at Citigroup.
Lululemon Athletica Inc. (NASDAQ: LULU) was raised to Buy from Neutral with a $210 price target at B. Riley FBR.
Marriot International Inc. (NASDAQ: MAR) was named as the Zacks Bear of the Day stock. The firm said that the stock has tumbled 60% in 2020 as the pandemic has brought travel and hotel industries to a near halt. Shares last closed at $63.00 and have a consensus price target of $108.90.