Investing

Top Analyst Upgrades and Downgrades: Bill.com, CenterPoint, CommScope, Herbalife, Hyatt, Motorola Solutions, Murphy Oil, Trade Desk, Vonage and More

Jon C. Ogg

Stocks were indicated to open higher ahead of Friday’s ghastly unemployment report. Investors are still 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 to decide 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.

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.

As a reminder, 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 we have seen on Friday, May 8, 2020.

Applied Optoelectronics Inc. (NASDAQ: AAOI) was downgraded to Neutral from Buy at Rosenblatt.

Bill.com Holdings Inc. (NYSE: BILL) was up 11% at $73.22 on Thursday but was indicated down 3.7% at $70.50 on Friday morning in the post-earnings reaction. KeyBanc Capital Markets reiterated it as Overweight and raised its target to $76 from $60, and Needham reiterated its Buy rating and raised its target to $90 from $55.

CenterPoint Energy Inc. (NYSE: CNP) was maintained as Underweight but its price target was raised to $16 from $12 (versus a $17.81 prior close) at KeyBanc Capital Markets.

Charles River Laboratories International Inc. (NYSE: CRL) was reiterated as Buy and its price target was raised to $190 from $165 at Citigroup.

CommScope Holding Co. Inc. (NASDAQ: COMM) was reiterated as Neutral but its price target was raised to $12 from $7 (versus an $11.02 close, after an 8% gain) at Citigroup.

CryoPort Inc. (NASDAQ: CYRX) was reiterated as Outperform and its price target was raised to $25 from $24 (versus a $20.64 close) at SVB Leerink.

Group 1 Automotive Inc. (NYSE: GPI) was named as the Zacks Bear of the Day stock. The firm said that the lockdown has led to tough times for auto businesses. Its shares last closed at $50.99 and have a consensus price target of $70.75.

Herbalife Nutrition Ltd. (NYSE: HLF) was reiterated as Buy and its price target was raised to $56 from $49 at Citigroup. Shares closed up over 9% at $36.97 on Thursday and were indicated up 16% at $43.00 on Friday after earnings. It previously had a $48.00 consensus price target.