Top Analyst Upgrades and Downgrades: Annaly, Boeing, Cognizant, Costco, GE, PayPal, Qualcomm, Rio Tinto, Shopify, Six Flags, Spotify and More
Stocks staged a rally on Wednesday after Fed Chair Jerome Powell basically pledged what may be many years of its zero-rate policy and asset buying to get back toward the dual mandate. Wednesday’s trading was down close to 1% on all major indexes after the worst gross domestic product report of our lives. With an election coming up, and 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 Thursday, July 30, 2020.
Albertsons Companies Inc. (NYSE: ACI) was started as Neutral with a $17 price target (versus a $15.37 prior close) at MKM Partners.
Annaly Capital Management Inc. (NYSE: NLY) traded up almost 1.8% at $7.43 on Wednesday ahead of earnings and traded up almost 3% at $7.65 afterward. Deutsche Bank reiterated it as Buy after it had just raised its target price to $7.75 from $6.75 and raised its rating from Hold less than a week earlier.
Boeing Co. (NYSE: BA) fell 2.8% to $166.00 after earnings on Wednesday and was indicated down another 1.3% at $163.80 on Thursday morning. RBC Capital Markets reiterated its Outperform rating and raised its target to $194 from $164.
Blue Apron Holdings Inc. (NYSE: APRN) was down 13% at $12.24 on Wednesday after earnings. Canaccord Genuity upgraded it to Buy from Hold and raised its target price to $18 from $13.
Cimpress PLC (NASDAQ: CMPR) was raised to Buy from Hold and its target price was raised to $116 from $75 (versus a $92.03 close) at SunTrust Robinson Humphrey.
Cognizant Technology Solutions Corp. (NASDAQ: CTSH) closed up 3.4% at $64.79 ahead of earnings and was up another 4.9% at $68.00 afterward. Wedbush Securities reiterated it as Outperform with a $75 target price. Needham raised it to Hold from Underperform, and RBC Capital Markets reiterated its Outperform rating and raised its target to $75 from $68. JPMorgan upgraded it to Neutral from Underweight and raised its target price to $69 from $62.
Costco Wholesale Corp. (NASDAQ: COST) was started as Neutral with a $320 price target (versus a $326.14 close) at MKM Partners.
General Electric Co. (NYSE: GE) closed down 4.35 at $6.59 after earnings were fully digested with the ongoing problems. We highlighted our own long-term woes ahead on GE, and CFRA kept its $6 target on GE with an outlook of poor cost performance with some severe declines in business. Late on Wednesday, RBC Capital Markets maintained its Outperform rating and $9 target, after noting that Boeing and aerospace’s woes were the top problem.
JD.com Inc. (NASDAQ: JD) was named as the Bull of the Day at Zacks, which said that this Chinese e-commerce firm has diversified into new areas and seen its stock price outclimb local rival Alibaba. Shares most recently closed at $62.59 and have a consensus price target of $66.37.