Stocks traded handily lower Monday, with the Dow Jones industrial average futures down 2% and S&P 500 futures down about 1.8%. Oil’s sharp drop to lows comes as the world is running out of storage to hold the oil. Investors have been caught off guard in many of the moves in recent weeks, and now they are looking for new ideas about how to be best positioned for the rest of 2020.
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. Some of analyst calls cover stocks to buy while some of the analyst reports cover stocks to sell or avoid. Consensus analyst target prices are from Refinitiv.
Many upgrades, downgrades, reiterations and initiations are still taking place, but one trend is that analysts have been lowering their target prices in most companies, even if they are maintaining their prior ratings. Still, many traditional upgrades and reiterations happen as if things were still close to normal. Remember that no single analyst report should be used as a sole basis for any buying or selling decision.
These are the top analyst calls tracked for Monday, April 20, 2020.
AbbVie Inc. (NYSE: ABBV) was upgraded to Outperform from Sector Perform and its price target was raised to $93 from $79 at RBC Capital Markets. The stock closed up almost 2% at $83.45 a share on Friday, with a $92.62 consensus price target.
Akamai Technologies Inc. (NASDAQ: AKAM) was started with an Outperform rating and a $120 price target at Evercore ISI.
AMC Entertainment Holdings Inc. (NYSE: AMC) was up 31% to $3.20 on Friday, but that is still well down from a 52-week high of $15.96. B. Riley FBR upgraded it to Neutral from Sell.
American Electric Power Co. Inc. (NYSE: AEP) was raised to Outperform from In-Line but its price target was lowered to $95 from $103 (versus an $86.38 prior close) at Evercore ISI. AEP shares closed at $86.38 on Friday, with a $96.88 consensus price target.
ANGI Homeservices Inc. (NASDAQ: ANGI) was maintained as Neutral but its price target was cut to $7 from $9 (versus a $5.85 close, after a 6.5% gain) at Nomura/Instinet.
ASGN Inc. (NYSE: ASGN) was named as the Zacks Bear of the Day stock. The firm said that this stock has seen estimates fall, as well as the price, and so has the valuation. Shares last closed at $38.69 and have a consensus price target of $51.00.
Booz Allen Hamilton Holding Corp. (NYSE: BAH) was downgraded to Neutral from Buy at Goldman Sachs.
Cedar Fair L.P. (NYSE: FUN) was maintained as Overweight but its price target was lowered to $33 from $42 (versus a $23.75 close) at KeyBanc Capital Markets.
CenterPoint Energy Inc. (NYSE: CNP) was downgraded to In-Line from Outperform and its price target was lowered to $17 from $121 (versus a $16.53 close) at Evercore ISI. The shares had a $20.00 consensus price target.
DTE Energy Co. (NYSE: DTE) was downgraded to In-Line from Outperform and its price target was lowered to $120 from $139 (versus a $105.85 close) at Evercore ISI. The stock had a $125.21 consensus price target.
DuPont de Nemours Inc. (NYSE: DD) was raised to Overweight from Neutral with a $55 price target (versus a $38.36 close) at JPMorgan.
Element Solutions Inc. (NYSE: ESI) was raised to Buy from Hold and its price target was raised to $11 from $10 at SunTrust Robinson Humphrey. It closed up 4.1% at $8.82 on Friday, with an $11.29 consensus price target.