Stocks were indicated to open slightly higher, but not by any margin wide enough to expect that the day’s direction was preset. The indexes have risen and managed to stay above 3,000 on the S&P 500 and 25,000 on the Dow Jones industrial average. Investors have moved beyond weak earnings and are looking beyond weak economic reports, weak earnings and now it seems civil unrest. Many investors are puzzled about how to be positioned heading into summer and for the rest of 2020 as the market already has discounted much of the recession’s drag.
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.
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 we have seen on Monday, June 1, 2020.
Acushnet Holdings Corp. (NYSE: GOLF) was named as the Zacks Bear of the Day stock. The firm said that this golf giant has pushed its stock price above most analysts’ price targets. Shares last closed at $33.42 and have a consensus price target of $24.44.
Allena Pharmaceuticals Inc. (NASDAQ: ALNA) was started as Buy with a $10 price target (versus a $1.68 prior close) at H.C. Wainwright. It had only a $41 million market cap ahead of the call, but the shares were indicated up 15% at $1.93 on Monday.
Amazon.com Inc. (NASDAQ: AMZN) was reiterated as Overweight and the price target was raised to $2,800 from $2,600 at Morgan Stanley. Amazon closed up 1.7% at $2,442.37 on Friday, and its consensus price target was $2,645.67.
American Homes 4 Rent (NYSE: AMH) was reiterated as Buy and the price target was raised to $28 from $26 (versus a $25.24 close) at Mizuho.
Becton, Dickinson & Co. (NYSE: BDX) was started with a Buy rating and a $278 price target (versus a $246.93 close) at Goldman Sachs.
Canopy Growth Corp. (NYSE: CGC) was downgraded to Sell from Buy at Stifel after Friday’s 20% drop to $17.37. The stock was indicated down almost 4% more on Monday, and its 52-week trading range is $9.00 to $44.17.
CarMax Inc. (NYSE: KMX) was started as Overweight and the price target was set at $105 (versus an $88.05 close) at JPMorgan.
Chipotle Mexican Grill Inc. (NYSE: CMG) was reiterated as Outperform and the price target was raised to a street-high $1,200 from $870 (versus a $1,003.91 close) at Wedbush Securities. The firm notes that same-store sales are continuing to increase and its longer term margin improvement may be too conservative.