Stocks were up on Monday, but profit taking was seen into earnings and ahead of the Federal Reserve meeting on Tuesday. Stocks have recaptured most of their losses from the plunge-depth selling lows of March, and earnings seasons is still bringing a very mixed reaction for the main market leadership stocks. With an election coming up, and with what is still a very deep recession, investors need to 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 in an effort to find new ideas for long-term investors and short-term traders alike. Some analyst reports cover stocks to buy, and others cover stocks to sell or avoid.
Remember that 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 Tuesday, July 28, 2020.
Archer Daniels Midland Co. (NYSE: ADM) was started as Buy with a $51 price target (versus a $42.13 prior close) at Seaport Global. ADM had a $47.22 prior consensus target price.
Best Buy Co. Inc. (NYSE: BBY) was named as the Bull of the Day at Zacks, which said that this electronics retailer has seen massive gains since March and offers investors a solid dividend to boot. Shares most recently closed at $97.92 and have a consensus price target of $95.97.
Beyond Meat Inc. (NASDAQ: BYND) was started as Hold with a $140 price target (versus a $126.72 close) at Canaccord Genuity. It had a $106.27 consensus target price.
Black Stone Minerals L.P. (NYSE: BSM) was reiterated as Outperform and its price target was raised to $9 from $8 (versus a $6.57 close) at Raymond James. It had an $8.88 consensus target price.
Bristol-Myers Squibb (NYSE: BMY) was started as Outperform with a $75 price target (versus a $58.05 close) at Seaport Global. Raymond James started it with an Outperform rating and a $75 price target.
CarGurus Inc. (NASDAQ: CARG) was started as Neutral with a $27 price target (versus a $25.63 close) at Piper Sandler.
Carvana Co. (NYSE: CVNA) was started as Overweight with a $211 price target (versus a $150.83 close) at Piper Sandler.
Concho Resources Inc. (NYSE: CXO) was raised to Buy from Hold and its price target was raised to $66 from $60 (versus a $52.68 close) at SunTrust Robinson Humphrey.
Cognizant Technology Solutions Corp. (NASDAQ: CTSH) was reiterated as Equal Weight but its target price was raised to $64 from $51 (versus a $63.43 close) at Morgan Stanley. It had a $61.27 consensus target price.
CRISPR Therapeutics A.G. (NASDAQ: CRSP) was up 2% at $92.12 on Monday but was indicated down just over 3% at $89.20 after earnings and a business update. Chardan reiterated its Buy but raised its target price to $100 from $72.50, and Needham reiterated its Buy rating and raised its target to $105 from $84.