Investing
Top Analyst Upgrades and Downgrades: Apple, CenterPoint, Chevron, CymaBay, Datadog, Home Depot, Novavax, Under Armour and More
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Stocks were indicated to open marginally higher on Tuesday after a mixed trading session on Monday. Investors have effectively seen bad news from companies and the economic reports in the past month, but stocks have continued to recover at a blistering pace from the lows in March. Has the stock market rebounded too much, or are the trillions of stimulus dollars and the gradual reopening of the economy going to keep marching stocks higher? This is a time when some investors are considering 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.
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 Tuesday, May 12, 2020.
Albermarle Corp. (NYSE: ALB) was downgraded to Neutral from Buy and the price target was trimmed to $51 from $67 (versus a $64.41 prior close) at Goldman Sachs. It had a $70.33 consensus price target.
Apple Inc. (NASDAQ: AAPL) was reiterated as Outperform and its price target was raised to $350 from $335 at Wedbush Securities, with the firm still positive despite not expecting the 5G iPhone to be released this fall. Apple stock closed up 1.5% at $315.01 on Monday, and it had a $308.91 prior consensus target price. Its 52-week trading range is $170.27 to $327.85.
CenterPoint Energy Inc. (NYSE: CNP) was downgraded to Neutral from Buy but its price target was raised to $22 from $21 (versus an $18.18 close) at Goldman Sachs. The consensus price target was $19.57.
Chevron Corp. (NYSE: CVX) was downgraded to Neutral from Buy with a $95 price target at UBS.
Columbia Sportswear Co. (NASDAQ: COLM) was named as the Zacks Bear of the Day stock. The firm said that this retailer is in trouble. Shares last closed at $65.49 and have a consensus price target of $80.70.
Continental Resources Inc. (NYSE: CLR) was downgraded to In-Line from Outperform but its price target was raised to $14 from $12 (versus a $14.00 close) at Imperial Capital.
CymaBay Therapeutics Inc. (NASDAQ: CBAY) was last seen trading up 140% at $4.50 on Tuesday morning after positive NASH drug trial news. Roth Capital raised its rating to Buy from Neutral and set a $15 price target on the shares. SBV Leerink raised it to Outperform from Market Perform and raised its price target to $6.00 from $2.50. Cantor Fitzgerald reiterated its Overweight rating and raised its price target to $15 from $5, and Stifel raised its rating to Buy from Hold and lifted its target to $8 from $4.
Datadog Inc. (NASDAQ: DDOG) closed up 7.6% at $55.69 ahead of earnings and was indicated up another 9.5% at $60.95 afterward. Rosenblatt reiterated its Buy rating and raised the price target to $75 from $61, while Needham reiterated its Buy rating and raised its price target to $70 from $58.
Home Depot Inc. (NYSE: HD) was reiterated as Overweight and its price target was raised to $260 from $215 (versus $236.56 close) at Wells Fargo. Home Depot had a $225.92 prior consensus target price, and its 52-week trading range is $140.63 to $247.36.
Lowe’s Companies Inc. (NYSE: LOW) was reiterated as Overweight and its price target was raised to $130 from $110 (versus a $113.39 close) at Wells Fargo. It previously had a $116.56 consensus target price, and its 52-week range is $60.00 to $126.73.
Novavax Inc. (NASDAQ: NVAX) was last seen trading up 44% at $35.50 on Tuesday after receiving $384 million in funding for its COVID-19 study. B. Riley FBR reiterated it as Buy and raised its price target to $43 from $29. H.C. Wainwright reiterated its Buy rating and raised its price target to $50 from $33. Oppenheimer reiterated it as Outperform and raised its price target to $38 from $19.
1-800 Flowers.com Inc. (NASDAQ: FLWS) was named as the Bull of the Day at Zacks, which said that flowers, food and online gifts are a big hit during COVID-19. Shares most recently closed at $22.38, with a consensus price target of $21.21.
ON Semiconductor Corp. (NASDAQ: ON) was down 8.5% at $15.66 after the company’s earnings report showed real weakness in auto stocks. Raymond James downgraded it to Outperform from Strong Buy with an $18 price target.
PACCAR Inc. (NASDAQ: PCAR) was downgraded to Neutral from Overweight but its price target was raised to $73 from $66 at Piper Sandler. Shares closed at $68.83 ahead of the call, with a $72.11 prior consensus price target.
Stanley Black & Decker Inc. (NYSE: SWK) was downgraded to Neutral from Buy at BofA Securities. The stock closed down 3.2% at $113.58 ahead of the call, with a $140.93 prior consensus target price.
Quidel Corp. (NASDAQ: QDEL) was up over 31% at $208.95 on Monday after the FDA approved its quick test for the coronavirus. JPMorgan downgraded it Underweight from Neutral with a $158 price target after the big gain.
Under Armour Inc. (NYSE: UAA) was maintained as Strong Buy and the price target was cut to $12 from $25 (versus a $9.01 close) at Raymond James. It had a prior $12.00 consensus price target. KeyBanc Capital Markets maintained its Overweight rating but lowered its price target to $16 from $23.
Winnebago Industries Inc. (NYSE: WGO) was reiterated as Buy and the price target was raised to $60 from $45 (versus a $51.81 close) at SunTrust Robinson Humphrey, which noted that travel changes due to COVID-19 will help the company with an RV-bump.
Zimmer Biomet Holdings Inc. (NYSE: ZBH) was reiterated as Strong Buy and the price target was raised to $140 from $136 (versus a $117.99 close) at Raymond James. SVB Leerink reiterated its Outperform rating and raised its price target to $136 from $130. Wells Fargo reiterated its Overweight rating and raised its price target to $132 from $124.
Jefferies is out with its top growth stock picks for this week, and five look like very solid and timely ideas for more aggressive investors now.
Monday’s top analyst upgrades and downgrades included AbbVie, Best Buy, Conagra Brands, Dick’s Sporting Goods, General Motors, Hilton Worldwide, NetApp, Nvidia, Redfin, TJX Companies, Vale, Yelp and more.
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