Top Analyst Upgrades and Downgrades: Chembio, Cognex, Cree, Deere, Gilead, Halliburton, iRobot, Lam Research, Nvidia, Regeneron, Sorrento, Take-Two and More
Stocks saw massive gains on Tuesday morning as investors are eager about the reopening of the economy and on coronavirus vaccine hopes. With an upcoming election, a pandemic and a recession all front and center, it has been amazing to see how much stocks have rallied since their panic-selling lows of March.
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 avoid.
There are still many analyst ratings changes coming with almost normal upgrades and downgrades, along with same-directional price target changes, now that the market has stabilized so much since just over seven weeks ago.
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 upgrades, downgrades and initiations from Tuesday, May 26, 2020.
Applied Materials Inc. (NASDAQ: AMAT) was started with an Equal Weight rating at Barclays.
B&G Foods Inc. (NYSE: BGS) was named as the Bull of the Day at Zacks, which said who knew the green giant could be this hot. Shares most recently closed at $22.27 and have a consensus price target of $17.43.
Boise Cascade Co. (NYSE: BCC) was raised to Buy from Neutral with a $39 price target (versus a $31.58 prior close) at BofA Securities.
Boot Barn Holdings Inc. (NYSE: BOOT) was named as the Zacks Bear of the Day stock. The firm said that the coronavirus has thrown even essential retailers for a loop. Shares last closed at $20.94, with a consensus price target of $25.00.
Chembio Diagnostics Inc. (NASDAQ: CEMI) was started as Outperform with a $21 price target (versus a $10.87 close, after a 6.6% gain) at Robert W. Baird.
Cognex Corp. (NASDAQ: CGNX) was started with a Hold rating and a $55 price target (versus a $61.67 close) at HSBC. Shares had a $47.92 consensus target price.
Cree Inc. (NASDAQ: CREE) was raised to Market Outperform from Market Perform with a $74 price target at JMP Securities. It closed up 1.5% at $51.73 ahead of the call, with a $48.18 consensus price target.
CymaBay Therapeutics Inc. (NASDAQ: CBAY) was raised to Buy from Neutral with a $9 price target (versus a $3.86 close) at H.C. Wainwright.
Deere & Co. (NYSE: DE) was reiterated as Overweight and its price target was raised to $181 from $171 at Morgan Stanley.
Gilead Sciences Inc. (NASDAQ: GILD) was raised to Hold from Sell and its price target was raised to $73 from $70 at SunTrust Robinson Humphrey. The stock closed at $73.34 on Friday, and it had an $80.39 consensus price target.
Halliburton Co. (NYSE: HAL) was downgraded to Sell from Neutral at UBS.
Invesco Mortgage Capital Inc. (NYSE: IVR) was downgraded to Underperform from Neutral with a $2.50 price target (versus a $2.77 close) at Credit Suisse.
iRobot Corp. (NASDAQ: IRBT) was raised to Neutral from Underweight and its price target was raised to $65 from $45 (versus a $73.10 close) at JPMorgan.
KLA Corp. (NASDAQ: KLAC) was started as Equal Weight with a $170 price target (versus a $173.00 close) at Barclays.