Investing

Top Analyst Upgrades and Downgrades: Cisco, Dell, Disney, Dollar Tree, Hubspot, Jabil, Kraft Heinz, Novavax, Peloton, Shopify and More

The futures traded lower Thursday morning as investors once again digested a volatile week for the markets. With second-quarter earnings underway, and a decent showing from some of the financials this week, we could just be taking a breather before moving higher. However, despite the solid start, this earnings season is expected to be the worst year-over-year comparison since the Great Recession.

With an election coming up, and with what is still a very deep recession, investors should be considering how they want their assets positioned for the second half of 2020 and as 2021 comes into focus.

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.

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, July 16, 2020.

Audiocodes Ltd. (NASDAQ: AUDC) was raised to Buy from Neutral at Needham, which has a $42 price target. The consensus target across Wall Street is $39. The analysts think an accelerated shift to cloud precipitated by COVID-19, and the related explosive growth of Microsoft Teams, could serve to sustainably accelerate the company’s growth rate. The shares closed Wednesday at $32.91.

Aramark Corp. (NYSE: ARMK) was downgraded to Sector Perform from Outperform and the price target was lowered to $26 at RBC Capital Markets. The consensus target is $29.54, and the last trade Wednesday came in at $23.95.

Chubb Ltd. (NYSE: CB) was raised from In-line to Outperform with a $157 price target at Evercore ISI. The consensus target price is $137.50. The shares closed Wednesday at $132.80.

Cisco Systems Inc. (NASDAQ: CSCO) was downgraded to Neutral from Overweight at JPMorgan, which kept its $50 price target. The consensus target for the legacy technology giant is right in line at $49.19. The shares were last seen trading at $46.40.

Corning Inc. (NYSE: GLW) was upgraded to Overweight from Neutral and the price target was raised to $36 at JPMorgan. The consensus target for the optical giant is $24.86, and the shares closed Wednesday at $28.06.

Dell Technologies Inc. (NYSE: DELL) was raised to Overweight from Equal Weight at Morgan Stanley, where the analysts have set a $68 price objective. That compares with a $56.89 consensus view and Wednesday’s close at $52.68. The shares traded up over 10% in the premarket Thursday morning.

Diamondback Energy Inc. (NASDAQ: FANG) saw its target price lowered to $55 from $70 at Imperial Capital. The consensus target is $58.98, and Wednesday’s closing price was $39.90.

Dollar Tree Inc. (NYSE: DLTR) was raised to Buy from Neutral at BofA Securities, which also raised the price objective to $115. The consensus target is $104.48. The last Wednesday trade came in at $95.71.

HubSpot Inc. (NYSE: HUBS) was started with a Buy rating and a $286 price target at Citigroup. The consensus target is just $196.84. The final trade on Wednesday was posted at $216.36.

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