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Top Analyst Upgrades and Downgrades: AECOM, AIG, Dow, DuPont, KLA, Newmont, PG&E, Pinterest, Shake Shack, Snap, Vornado and More

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Stocks were indicated to open marginally higher on Wednesday after the market gains managed to hold positive on Tuesday, but oil was taking a breather, with West Texas Intermediate crude down 8% after several days of gains. Investors are trying to decide whether the stock market has rebounded too much from the March lows, or whether the trillions of stimulus dollars and a gradual reopening of the economy will set the stage for a massive economic recovery after the summer.

Investors now should be looking at new ideas for how to be best positioned ahead of summer and 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. Consensus analyst target prices are from Refinitiv.

Some analyst reports cover stocks to buy, and some cover stocks to sell or to avoid. Analysts are still making many upgrades, downgrades, reiterations and initiations ahead of and after key earnings reports. While many analysts are still cutting price targets and earnings estimates for the coming quarters and for the year, many are still maintaining their prior official ratings.

There are even many traditional upgrades and reiterations taking place as though things were close to normal. Remember, no single analyst report should be used as a sole basis for any buying or selling decision.

These are the top analyst calls we have seen on Tuesday, May 5, 2020.

AECOM (NYSE: ACM) was reiterated as Buy and the price target was raised to $43 from $42 at Citigroup. Shares closed up 2.6% at $35.30 ahead of the call.

American Eagle Outfitters Inc. (NYSE: AEO) was raised to Outperform from Market Perform at Raymond James.

American International Group Inc. (NYSE: AIG) was downgraded to Market Perform from Outperform at William Blair. AIG closed up 4.15 at $25.06 on Tuesday, with a $38.38 consensus price target.

Cincinnati Financial Corp. (NASDAQ: CINF) was downgraded to Underperform from Neutral and its price target was cut to $54 from $68 (versus a $59.00 prior close) at Credit Suisse. It had a $75.29 prior consensus price target.

Dow Inc. (NYSE: DOW) was downgraded to Neutral from Buy and its price target was lowered to $32 from $37 (versus a $33.37 close) at UBS.

DuPont de Nemours Inc. (NYSE: DD) was reiterated as Overweight and its price target was raised to $57 from $50 (versus a $44.69 close) at KeyBanc Capital Markets. Deutsche Bank reiterated its Buy rating and raised its price target to $52 from $46.

Everbridge Inc. (NASDAQ: EVBG) was reiterated as Outperform and its price target was raised to $130 from $105 (versus a $112.86 close) at Raymond James.

Illinois Tool Works Inc. (NYSE: ITW) was raised to Hold from Sell and the price target was raised to $148 from $124 (versus a $159.69 close) at Deutsche Bank.

Incyte Corp. (NASDAQ: INCY) was downgraded to Neutral from Overweight at JPMorgan.


KLA Corp. (NASDAQ: KLAC) was reiterated as Buy and its price target was raised to $178 from $158 at Citigroup. KeyBanc Capital Markets maintained an Overweight rating but lowered its price target to $182 from $204.

Ladder Capital Corp. (NYSE: LADR) was raised to Buy from Neutral and the price target was raised to $11.00 from $7.50 (versus a $7.77 close) at B. Riley FBR.

LivePerson Inc. (NASDAQ: LPSN) was indicated up 18% at $27.64 after earnings. Mizuho reiterated it as Buy and raised its price target to $40 from $30. KeyBanc Capital Markets maintained its Overweight rating but lowered its price target to $38 from $43.

Mohawk Group Holdings Inc. (NYSE: MWK) was downgraded to Underperform from Sector Perform at RBC Capital Markets.

Newmont Corp. (NYSE: NEM) was reiterated as Buy and the price objective was raised to $82 from $73 (versus a $64.91 close) at BofA Securities, and Deutsche Bank reiterated its Buy rating and raised its price target to $70 from $54.

PG&E Corp. (NYSE: PCG) was maintained as Buy at Mizuho, which raised its price target to $13.50 from $12.50. Shares closed up 7.35% at $11.81 on Tuesday.

Pinterest Inc. (NYSE: PINS) was downgraded to Neutral from Buy and the price target was cut to $19 from $21 (versus a $20.81 close) at D.A. Davidson. Nomura/Instinet maintained its Buy rating but trimmed its price target to $28 from $32. The stock was indicated down over 16% at $17.35 on Wednesday’s post-earnings reaction, after warning that margins would be pressured despite beating revenue expectations.

Planet Fitness Inc. (NYSE: PLNT) was reiterated as Outperform and its price target was raised to $63 from $58 (versus a $57.08 close) at Raymond James.

Retail Properties of America Inc. (NYSE: RPAI) was maintained as Buy but the price target was cut to $10 from $16 (versus a $5.68 close) at Deutsche Bank.

Shake Shack Inc. (NYSE: SHAK) was reiterated as Hold but the price target was raised to $57 from $51 (versus a $49.22 close, after a 6.7% drop) at Deutsche Bank.

Snap Inc. (NYSE: SNAP) was downgraded to Sell from Neutral but its price target was raised to $14 from $10 at Citigroup. Shares closed up 2.4% at $17.51 on Tuesday and were indicated down 3.3% at $16.93 on Wednesday. The prior consensus price target was $17.41.

Steel Dynamics Inc. (NASDAQ: STLD) was downgraded to Underperform from Neutral at BofA Securities.

Vornado Realty Trust (NYSE: VNO) was downgraded to Sell from Hold at Stifel, with barely 50% of commercial tenants in New York City paying rent in April.

Goldman Sachs has five stocks to sell into the recent market strength.

Tuesday’s top analyst upgrades and downgrades included AppFolio, BioCryst Pharmaceuticals, Booking, DraftKings, Intuit, L Brands, Peloton Interactive, Salesforce.com, Wells Fargo and more.

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