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.
FormFactor Inc. (NASDAQ: FORM) was raised to Buy from Neutral and the price target was raised to $30 from $25 (versus a $25.17 close) at D.A. Davidson.
Geron Corp. (NASDAQ: GERN) was reiterated as Overweight and its price target was raised to $4 from $3 (versus a $1.61 close) at Cantor Fitzgerald.
Harmonic Inc. (NASDAQ: HLIT) was downgraded to Neutral from Overweight at JPMorgan.
Hess Corp. (NYSE: HES) was raised to Overweight from Neutral and the price target was raised to $53 from $37 (versus a $47.47 close) at JPMorgan.
Inogen Inc. (NASDAQ: INGN) was maintained as Market Perform but the price target was lowered to $42 from $56 (versus a $38.00 close) at SVB Leerink.
National Fuel Gas Co. (NYSE: NFG) was reiterated as Outperform and the price target was raised to $49 from $48 (versus a $41.97 close) at Raymond James.
Occidental Petroleum Corp. (NYSE: OXY) was downgraded to Sector Perform from Sector Outperform and the price target was lowered to $16 from $25 (versus a $12.95 close) at ScotiaBank.
Pioneer Natural Resources Co. (NYSE: PXD) was raised to Sector Outperform from Sector Perform and its price target was raised to $130 from $100 (versus a $91.60 close) at ScotiaBank.
Snap Inc. (NYSE: SNAP) was reiterated as Buy and the price target was raised to $24 from $18 (versus an $18.94 close) at Deutsche Bank. Its prior consensus target price was $17.41.
Synopsys Inc. (NASDAQ: SNPS) was named as the Bull of the Day at Zacks, which said that the company is the backbone of innovation for global electronics and is a safe way to invest in the semiconductor industry. Shares most recently closed at $180.91, with a consensus price target of $173.31.
Tempur Sealy International Inc. (NYSE: TPX) was reiterated as Overweight and its price target was raised to $75 from $68 (versus a $65.23 close) at KeyBanc Capital Markets.
Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) was raised to Buy from Hold and the price target was raised to $16 from $11 (versus a $12.53 close) at SunTrust Robinson Humphrey.
Vail Resorts Inc. (NYSE: MTN) was downgraded to Hold from Buy at Deutsche Bank.
Zoom Video Communications Inc. (NASDAQ: ZM) was maintained with a Neutral rating at Rosenblatt, but the firm still raised its price target up to $150 from $95. Shares closed up 9.7% at $179.48 on Friday, with a $121.42 prior consensus price target.
Friday’s top analyst upgrades and downgrades included Alexion Pharmaceuticals, Ciena, Dell Technologies, Dollar General, Dollar Tree, Marvell Technology, PPL, Republic Services, Tesla, VMware, Zscaler and more.
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