Top Analyst Upgrades and Downgrades: Ally, Apple, Blackstone, Boeing, CommScope, Facebook, Redfin, SolarEdge, Splunk, Union Pacific and More
Stocks were trading lower on Thursday after Wednesday’s major sell-off as COVID-19 cases keep rising faster in many states. While the market always looks for reasons for gains or losses, it also had gotten ahead of itself and this was a much needed breather, with almost all sectors lower.
Investors should be considering how they want their assets positioned ahead of the election and for the rest of 2020.
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 this past drive of the gains is that many analyst calls have included upgrades and price target hikes, but 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 Thursday, June 25, 2020.
Allstate Corp. (NYSE: ALL) was raised to Neutral from Underperform at Credit Suisse.
Ally Financial Inc. (NYSE: ALLY) was reiterated as Buy with a $29 fair value estimate at Janney, with the firm positive on the lender after it terminated its CardWorks acquisition.
Ameriprise Financial Inc. (NYSE: AMP) was raised to Buy from Neutral and the price target was raised to $185 from $125 (versus a $142.96 prior close) at Goldman Sachs.
Apple Inc. (NASDAQ: AAPL) was reiterated as Outperform and the price target was raised to $425 from $375 at Wedbush Securities, and the firm’s bullish case is now up at $500. Apple is considered to be the best play on the 5G theme, and Wedbush believes a further rerating of the stock is on the horizon.
Blackstone Group Inc. (NYSE: BX) was started as Buy at UBS, with the firm calling out the private equity giant as having strong growth opportunities with robust inflows of capital previously untapped channels to drive its next wave of growth.
Boeing Co. (NYSE: BA) was downgraded to Sell from Hold with a $150 price target at Berenberg, but the firm did note that the 737 Max will still have a place in the market even if its role is diminished. Boeing closed down almost 6% at $176.69 ahead of the call, with a $174.80 consensus price target.
Chico’s FAS Inc. (NYSE: CHS) was named as the Zacks Bear of the Day stock. The firm said that the retail apocalypse is running rampant amid this global pandemic. Shares last closed at $1.25 and have a consensus price target of $2.19.
CommScope Holding Co. Inc. (NASDAQ: COMM) was maintained as Outperform but its price target was cut to $10 from $12 at Raymond James. Shares closed down 6.6% at $8.51 on Wednesday, with a $12.92 consensus price target.
Diamondback Energy Inc. (NASDAQ: FANG) was raised to Buy from Hold and the price target was raised to $52 from $45 (versus a $41.90 close) at SunTrust Robinson Humphrey.
Digital Turbine Inc. (NASDAQ: APPS) was started with an Outperform rating and a $14 price target (versus an $11.01 close) at Oppenheimer.
Earthstone Energy Inc. (NYSE: ESTE) was raised to Buy from Hold with a $6 price target (versus a $2.65 close, after a 9.6% drop) at SunTrust.