Stocks surged higher on Friday morning, with the Dow Jones industrials, S&P 500 and Nasdaq all expected to be up 1%. The stock market has tried to discount every bit of bad news, with bad economic numbers, higher COVID-19 cases, civil unrest, weak earnings and international issues all being deemed temporary as the economy continues to reopen for business.
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.
Now that stocks have recovered so much, analyst calls basically have normalized, with fewer extreme target changes up or down. Some calls are praising growth over value, and others are focused on base economy stocks that already have begun recovering.
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 Friday, June 19, 2020.
Carlisle Companies Inc. (NYSE: CSL) was raised to Outperform from Market Perform and its price target was raised to $150 from $135 at BMO Capital Markets.
Concho Resources Inc. (NYSE: CXO) was downgraded to Neutral from Buy at Mizuho.
Darden Restaurants Inc. (NYSE: DRI) was maintained as Overweight but its price target was lowered to $86 from $88 (versus a $74.13 prior close) at KeyBanc Capital Markets.
Devon Energy Corp. (NYSE: DVN) was raised to Buy from Neutral and its price target was raised to $17 from $13 (versus a $12.95 close) at Mizuho.
DuPont de Nemours Inc. (NYSE: DD) was reiterated as Overweight and its target price was raised to $65 from $60 (versus a $52.58 close) at Wells Fargo.
Dynatrace Inc. (NYSE: DT) was raised to Buy from Neutral and its price target was raised to $51 from $32 (versus a $40.41 close) at Goldman Sachs.
EOG Resources Inc. (NYSE: EOG) was raised to Buy from Hold and the price target was raised to $70 from $50 at SunTrust Robinson Humphrey. Shares closed at $52.93 ahead of the call, which noted that it was one of the most opportunistic large E&Ps by materially flexing all operations and finances as appropriate. Independent of this call, EOG also was named on a list of 10 oil and gas companies that would still be thriving in 2030.
H&E Equipment Services Inc. (NASDAQ: HEES) was named as the Zacks Bear of the Day stock. The firm said that new equipment sales have slowed as U.S. businesses get more cautious. Shares last closed at $18.17, with a consensus price target of $21.50.
Heritage-Crystal Clean Inc. (NASDAQ: HCCI) was raised to Buy from Hold with a $20 price target (versus a $16.53 close) at Needham.
Huntsman Corp. (NYSE: HUN) was downgraded to Neutral from Buy at Seaport Global.