Top Analyst Upgrades and Downgrades: AbbVie, ANGI, CBOE, Darden, Hess, Lululemon, MongoDB, PayPal, Shopify, Slack, Zynga and More

Investing

Published: June 2, 2020 8:53 am

Last Updated: June 2, 2020 9:04 am

Stocks were indicated to open slightly higher on Tuesday despite the civil unrest that continued into Monday evening. The S&P 500 has gone back above 3,050 and the Dow Jones industrials risen back above 25,000. Investors have pivoted to look beyond the news today, beyond COVID-19 and even beyond the economic recession. Many investors are puzzled about how to be positioned heading into summer and for the rest of 2020 ahead of the election.

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. Many analysts are still cutting price targets and earnings estimates, but others are raising ratings and expectations.

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 Tuesday, June 2, 2020.

AbbVie Inc. (NYSE: ABBV) was raised to Buy from Hold with a $115 target price at Argus. It closed down 2.1% at $91.40 a share on Monday, and its consensus price target was $97.00.

ANGI Homeservices Inc. (NASDAQ: ANGI) was reiterated as Buy and the price target was raised to $12.50 from $10.00 (versus an $11.50 prior close) at Deutsche Bank.

Boyd Gaming Corp. (NYSE: BYD) was reiterated as Buy and its price target was raised to $29 from $22 (versus a $22.08 close) at Nomura/Instinet.

Box Inc. (NYSE: BOX) was named as the Bull of the Day at Zacks, which said that big customers like Toyota and NASA confirm the value of this cloud content ecosystem. Shares most recently closed at $19.37, with a consensus price target of $23.71.

Brinker International Inc. (NYSE: EAT) was maintained as Underweight but its price target was raised to $23 from $21 at Morgan Stanley.

CBOE Global Markets Inc. (CBOE) was downgraded to Neutral from Overweight and the price target was cut to $101 from $104 (versus a $104.96 close) at JPMorgan.

Cognex Corp. (NASDAQ: CGNX) was downgraded to Underperform from Neutral at Robert W. Baird.

Darden Restaurants Inc. (NYSE: DRI) was reiterated as Equal Weight and its price target was raised to $56 from $51 at Morgan Stanley.

Eaton Vance Corp. (NYSE: EV) was raised to Buy from Neutral at BofA Securities.

Hess Corp. (NYSE: HES) was raised to Buy from Neutral and its price target was raised to $60 from $46 at Citigroup. The stock closed up over 2.5% at $48.70, and it has a $53.36 consensus price target.