Stocks were indicated to open lower on Monday after the prior week’s gains, despite higher oil prices seen as Saudi Arabia announced another 1 million barrels per day production cut. Investors are seeing mostly negative news and stocks have continued to recover from the lows in March. Has the stock market has rebounded too much or will it continue to recover with a gradual reopening of the economy and trillions of stimulus dollars? This is a time when investors need to 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 the year, many are still maintaining their prior official ratings. 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 seen on Monday, May 11, 2020.
AbbVie Inc. (NYSE: ABBV) was reiterated as Outperform and its price target was raised to $122 from $107 at SVB Leerink.
Albemarle Corp. (NYSE: ALB) was maintained as Sector Perform but its price target was raised to $66 from $64 (versus a $64.25 prior close) at RBC Capital Markets.
American Water Works Co. Inc. (NYSE: AWK) was reiterated as Buy with a $153 price target (versus a $118.03 prior close) at Janney in a post-earnings view.
ANGI Homeservices (NASDAQ: ANGI) was reiterated as Buy and its price target was raised to $10.00 from $6.50 (versus a $7.71 close) at Citigroup.
Best Buy Co. Inc. (NYSE: BBY) was maintained as Neutral but its price target was raised to $85 from $70 at Nomura/Instinet.
Bloomin’ Brands Inc. (NASDAQ: BLMN) was maintained as Outperform but its price target was cut to $14 from $15 (versus an $11.19 close, after a 13% gain) at Raymond James.
Carrier Global Corp. (NYSE: CARR) was raised to Overweight from Equal Weight with a $22 price target (versus an $18.36 close) at Barclays.
CF Industries Holdings Inc. (NYSE: CF) was downgraded to Underperform from Buy at BofA Securities.
Conagra Brands Inc. (NYSE: CAG) was downgraded to Hold from Buy at SunTrust Robinson Humphrey.
Dick’s Sporting Goods Inc. (NYSE: DKS) was maintained as Neutral but its price target was raised to $33 from $28 (versus a $29.81 close) at Nomura/Instinet.
Edison International (NYSE: EIX) was started with an Overweight rating and its price target was set at $66 (versus a $57.0 close) at KeyBanc Capital Markets.
Eidos Therapeutics Inc. (NASDAQ: EIDX) was maintained as Outperform but its price target was cut to $59 from $62 at SVB Leerink.
Freshpet Inc. (NASDAQ: FRPT) was started as Neutral and a $78 price target (versus a $73.59 close) at Citigroup.
General Motors Co. (NYSE: GM) was maintained as Neutral but its price target was slashed to $23 from $36 (versus a $23.93 close) at Nomura/Instinet.
Glu Mobile Inc. (NASDAQ: GLUU) was downgraded to Equal Weight from Overweight at Morgan Stanley.
GTT Communications Inc. (NYSE: GTT) was downgraded to Hold from Buy at SunTrust Robinson Humphrey.
Hilton Worldwide Holdings Inc. (NYSE: HLT) was reiterated as Outperform and its price target was raised to $82 from $77 (versus a $72.19 close) at Raymond James.
IAC/InterActiveCorp (NASDAQ: IAC) was reiterated as Outperform and its price target was raised to $275 from $265 (versus a $234.87 close) at Oppenheimer.
Lyft Inc. (NASDAQ: LYFT) was downgraded to Hold from Buy at Stifel.
Monster Beverage Corp. (NASDAQ: MNST) was downgraded to Neutral from Buy at Citigroup.
Mosaic Co. (NYSE: MOS) was downgraded to Underperform from Buy at BofA Securities.
NetApp Inc. (NASDAQ: NTAP) was downgraded to Hold from Buy at Stifel.
Nvidia Corp. (NASDAQ: NVDA) was reiterated as Buy and its price target was raised to $360 from $270 at Needham. Shares closed up 2.5% at $312.50 ahead of the call, with a $300.40 consensus price target.
Palo Alto Networks Inc. (NYSE: PANW) was reiterated as Outperform and its price target was raised to $225 from $213 at Oppenheimer. It closed at $213.96 ahead of the call, with a $212.77 prior consensus target price.
Qualys Inc. (NASDAQ: QLYS) was reiterated as Buy and its price target was raised to $118 from $105 (versus a $104.40 close, after a 6% drop) at Needham.
Redfin Corp. (NASDAQ: RDFN) was downgraded to Neutral from Positive at Susquehanna.
Sabre Corp. (NASDAQ: SABR) was raised to Outperform from Market Perform with a $10 price target (versus a $6.72 close) at Bernstein. The stock is down from a high of $25.44, and its consensus price target was down at $7.00 ahead of this call.
Sprouts Farmers Market Inc. (NASDAQ: SFM) was named as the Bull of the Day at Zacks, which said that this organic and natural grocery stock is greatly benefiting from consumer stockpiling. Shares most recently closed at $25.18, with a consensus price target of $21.21.
Tapestry Inc. (NYSE: TPR) was named as the Zacks Bear of the Day stock. The firm said that the pandemic has not been good news for luxury retailers. Shares last closed at $14.88 and have a consensus price target of $20.38.
The TJX Companies Inc. (NYSE: TJX) was reiterated as Buy and its price target was raised to $59 from $56 at Nomura/Instinet.
UDR Inc. (NYSE: UDR) was raised to In-Line from Underperform at Evercore ISI.
Vale S.A. (NYSE: VALE) was raised to Outperform from Sector Perform and its price target was raised to $9.50 from $9.00 at RBC Capital Markets.
Yelp Inc. (NYSE: YELP) was downgraded to Market Perform from Outperform at BMO Capital Markets.
Friday’s top analyst upgrades and downgrades included Bill.com, CenterPoint Energy, CommScope, Herbalife, Hyatt Hotels, Motorola Solutions, Murphy Oil, Trade Desk, Vonage and more.
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