The stock market managed to recover on Friday after an awful Thursday, but the gains were taken back on Monday, with the Dow Jones industrials down 500 points and the S&P 500 down 53 points. The market is dealing with a rapid rise in the second wave of COVID-19 cases, even as economies continue to reopen and as the economic picture has been improving.
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.
What has happened in the most recent drive of the gains is that many analyst calls have included upgrades and price target hikes, but in often stocks are managing to move even beyond what the ratings and expectations might have indicated.
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 15, 2020.
Advance Auto Parts Inc. (NYSE: AAP) was downgraded to Underweight from Neutral at Atlantic Equities.
American Airlines Group Inc. (NASDAQ: AAL) was reiterated as Sell at Citigroup, although the firm did lift its price target to $14 from $9. Shares closed up 16.4% at $16.74 on Friday and were indicated down almost 6% at $15.75 on Monday.
Apache Corp. (NYSE: APA) was raised to Buy from Neutral and its price target was raised to $18 from $13 at Citigroup. The stock closed up 7.6% at $13.77 on Friday and was indicated down 4.5% at $13.15 on Monday.
Baidu Inc. (NASDAQ: BIDU) was named as the Zacks Bear of the Day stock. The firm said that despite the cloudy outlook and a potential U.S. delisting, shares are up about 15% since earnings. The stock last closed at $116.27, with a consensus price target of $142.04.
Cedar Fair L.P. (NYSE: FUN) was raised to Buy from Neutral with a $42 price target (versus a $33.62 prior close) at B. Riley FBR.
Delta Air Lines Inc. (NYSE: DAL) was reiterated as Buy and its target price was raised to $38 from $30 at Citigroup. It closed up almost 12% at $30.43 on Friday but was indicated down 6% at $28.55 on Monday.
D.R. Horton Inc. (NYSE: DHI) was reiterated as Buy and its price target was raised to $69 from $56 (versus a $54.00 close) at Citigroup.
Fastly Inc. (NYSE: FSLY) was named as the Bull of the Day at Zacks, which said that shares of this “little Akamai” doubled in the last month because of Amazon and TikTok. Shares most recently closed at $46.82 and have a consensus price target of $38.88.
FormFactor Inc. (NASDAQ: FORM) was raised to Buy from Hold and its price target was raised to $33 from $24 at Stifel, with the firm noting that it will benefit from a recurring revenue model even with a choppy demand environment.
Intel Corp. (NASDAQ: INTC) was raised to Overweight from Neutral with an $82 price target at KeyBanc Capital Markets. The firm that Intel is in a strong position to win from the next generation of computing and the Internet of Things.