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Top Analyst Upgrades and Downgrades: Alexion, Allscripts, Alphabet, Amazon, Apple, Baidu, Comcast, EA, Ford, Facebook and More

Jon C. Ogg

Published: July 31, 2020 9:11 am

Last Updated: July 31, 2020 9:28 am

The S&P 500 and Dow Jones industrials closed down on Thursday after a depression-era gross domestic product report and rise in jobless claims, but solid tech earnings had the indexes up in higher territory Friday morning. 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 Friday, July 31, 2020.

Alexion Pharmaceuticals Inc. (NASDAQ: ALXN) was reiterated as Buy at SunTrust Robinson Humphrey, and the firm raised its price target to $155 from $135. SVB Leerink reiterated its Outperform rating and raised its target to $163 from $159. Alexion now has the most implied upside of all major biotech and big pharma stocks. Its shares closed up 0.2% at $104.81 despite beating earnings, raising guidance and issuing a new stock buyback program.

Allscripts Healthcare Solutions Inc. (NASDAQ: MDRX) announced a solid earnings beat and its EPSi is set to be acquired by Strata Decision Tech. Shares closed up 2.1% at $7.59 ahead of the news and were up 15% at $8.75 afterward. SVB Leerink maintained it as Market Perform but raised its target price to $10 from $6. Cantor Fitzgerald reiterated its Neutral rating but raised its target to $9 from $6.

Alphabet Inc. (NASDAQ: GOOGL) saw only limited gains, up less than 1% to $1,550, after reporting earnings for the second quarter of 2020. SunTrust reiterated its Buy rating and raised its price target to $1,850 from $1,805. Wedbush Securities reiterated its Outperform rating and raised its $1,550 target to $1,700. Morgan Stanley reiterated its Overweight rating and raised its target to $1,760 from $1,700. Raymond James reiterated its Outperform rating and raised its target from $1,425 to $1,700.

Amazon.com Inc. (NASDAQ: AMZN) handily beat expectations even after $4 billion in COVID-19-related spending, and its shares rose 5% to $3,205 in Thursday’s after-hours trading. Wedbush reiterated its Outperform rating and raised its target to $3,700 from $3,500. KeyBanc Capital Markets reiterated its Overweight rating and raised its target from $3,285 to $3,500. SunTrust reiterated its Buy rating and raised its $3,400 price target to $3,600. Morgan Stanley reiterated its Overweight rating and raised its target to $3,750 from $3,450.

Apple Inc.’s (NASDAQ: AAPL) shares hit new all-time highs after it reported earnings and a 4-for-1 stock split. Wedbush reiterated its Outperform rating, raised its target to $465 from $450 and moved its bullish case up to $550. Morgan Stanley reiterated its Overweight rating and raised its target to $431 from $419. Citigroup reiterated its Buy rating and raised its target to $450 from $400. UBS reiterated its Buy rating and raised its target to $425 from $400. Raymond James raised its target from $400 to $440 and reiterated its Outperform rating. Credit Suisse maintained a Neutral rating on Apple but still raised its target price to $380 from $340.

Avis Budget Group Inc. (NASDAQ: CAR) was reiterated as Overweight and its price target was raised to $40 from $37 at Morgan Stanley. The stock closed down over 3% at $26.54 on Thursday, and it had a $38.20 consensus target price.

Baidu Inc. (NASDAQ: BIDU) was reiterated as Overweight and its target price was cut to $145 from $147 (versus a $118.00 prior close) at KeyBanc Capital Markets.

Barnes Group (NYSE: B) was named as the Zacks Bear of the Day stock. The firm said that despite a recent beat this stock still ranks very low among Zack’s picks. Shares last closed at $37.10 and have a consensus price target of $41.83.

Comcast Corp. (NASDAQ: CMCSA) was reiterated as Overweight and its target was raised to $49 from $47 at Morgan Stanley. Rosenblatt reiterated its Buy rating and raised its target to $51 from $45.

Digital Realty Trust Inc. (NYSE: DLR) was raised to Outperform from Market Perform with a $175 price target at Raymond James.

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DuPont de Nemours Inc. (NYSE: DD) was reiterated as Overweight and its target price was raised to $75 from $69 at KeyBanc Capital Markets. DuPont closed down 2.6% at $53.76 on Thursday, with a $61.90 consensus target price.

Dunkin’ Brands Group Inc. (NASDAQ: DNKN) was raised to Overweight from Neutral and assigned a $76 target price at JPMorgan. Shares closed down 4.2% at $68.65 ahead of the call, with a $69.35 consensus target price.

Electronic Arts Inc. (NASDAQ: EA) was up almost 2% at $138.59 ahead of earnings but was last seen up about 1.8% more at $141.05 after beating earnings and revenue expectations. SunTrust reiterated its Buy rating with a $153 price target. KeyBanc Capital Markets raised EA to Overweight from Sector Weight and set a $165 target price.

Facebook Inc. (NASDAQ: FB) saw its shares rise more than 6% to $249.15 in Thursday’s post-earnings action, and its all-time high was $250.15, with a $257.35 prior consensus target price. SunTrust reiterated its Buy rating and raised its price target to $285. Morgan Stanley reiterated its Overweight rating and raised its target to $285 from $270.

Ford Motor Co. (NYSE: F) closed down 2.6% at $6.74 ahead of earnings but was taking back those losses with a 2.8% gain to $6.94 after earnings and guidance still shows ample liquidity even if the coronavirus cases pick back up. RBC Capital Markets maintained Ford as Sector Perform but raised its target to $8.00 from $6.50.

Generac Holdings Inc. (NYSE: GNRC) was raised to Buy from Hold and its price target was raised to $200 from $113 at Canaccord Genuity. Shares closed up 5.8% at $147.84 on Thursday and were indicated up 2.8% at $152.00.

On NovoCure Ltd. (NASDAQ: NVCR), SunTrust reiterated its Buy rating and raised its price target to $93 from $90.

Scotts Miracle-Gro Co. (NYSE: SMG) was named as the Bull of the Day at Zacks, which said that a solid beat and raise says something is blooming about this company. Shares most recently closed at $157.25 and have a consensus price target of $167.75.

Seattle Genetics Inc. (NASDAQ: SGEN) was reiterated as Outperform at SVB Leerink, but the firm raised its target to $173 from $167 (versus a $171.14 close). H.C. Wainwright reiterated its Buy rating and raised its target to $200 from $175.

Shake Shack Inc. (NYSE: SHAK) was up 0.7% at $55.22 ahead of earnings but was last seen down 5% at $52.55 after missing expectations. Wedbush reiterated its Neutral rating and raised its price target to $53 from $50.

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Eight stocks scored on earnings from Thursday had at least five analysts raise targets handily for more upside ahead. Some had more than 10 raised target prices.

Thursday’s top analyst upgrades and downgrades included Annaly Capital Management, Boeing, Cognizant Technology Solutions, Costco Wholesale, General Electric, PayPal, Qualcomm, Rio Tinto, Shopify, Six Flags, Spotify and more.