Top Analyst Upgrades and Downgrades: Amazon, Broadcom, Boeing, DraftKings, eBay, Electronic Arts, Hilton, iRobot, NetApp, Peloton, Tesla and More
Futures traded lower Friday morning as investors digest a trading week that was buffeted by spikes in coronavirus cases around the nation. While higher levels of testing are partly responsible, some states are slowing reopening plans. Add in the huge “melt-up” rally move since the market lows in March, and the consolidation comes as little surprise.
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 Friday, June 26, 2020.
Amazon.com Inc. (NASDAQ: AMZN) saw its target price raised to a Wall Street high of $3,333 from $2,750 at Deutsche Bank. That compares to a much lower Wall Street consensus target of $2753.24. The last trade on Thursday for the technology behemoth was posted at $2754.48. Shares traded slightly higher in Friday’s premarket.
Broadcom Inc. (NASDAQ: AVGO) was raised to Outperform from In-line with a $380 price target at Evercore ISI. The consensus target price is $342.44. The last trade on Thursday was posted at $308.85.
Boeing Co. (NYSE: BA) was downgraded to Market Perform from Outperform at Bernstein, which has a $165 price target. The consensus target for the troubled aerospace giant is $174.80. Thursday’s final print came in at $174.88.
Donaldson Co. Inc. (NYSE: DCI) was started with an Overweight rating and a $60 price target at Morgan Stanley. The consensus target is $51.33. The stock closed at $44.16 on Thursday.
DraftKings Inc. (NASDAQ: DKNG) was started with a Buy rating and a $60 price objective at Rosenblatt. The consensus target is just $43.88. The stock has been on a huge run since merging with a SPAC back in the spring. The shares were last seen trading at $36.07.
eBay (NASDAQ: EBAY) was raised to Buy from Hold at Deutsche Bank, which as a $57 target price. The consensus target for the tech giant is $48.18. Thursday’s last trade came in at $49.40.
Electronic Arts Inc. (NASDAQ: EA) saw its target price raised to $150 from $135 at Needham. The consensus price objective is lower at $127.45. The analysts noted that cross-play is finally the new normal, with the company introducing cross-play across all consoles and PCs for most of its new game releases. The stock closed at $130.74.
Freshpet Inc. (NASDAQ: FRPT) was downgraded to Sell from Neutral at Citigroup, with a price target of $78. The consensus target is $77.40, and shares closed Thursday at $88.69 but traded lower in Friday’s premarket action.
Hexcel Corp. (NYSE: HXL) was started with an Outperform rating and a $52 price target at RBC Capital Markets. The consensus target is $36.86, and the stock closed on Thursday at $43.36, up close to 4% on the day.