Top Analyst Downgrades and Upgrades: Activision, AON, Disney, Enphase, Monster Beverage, New Relic, Novavax, Paycom, Wynn and More

The three major equity indexes were all indicated to open higher on Wednesday on more COVID-19 vaccine news from two companies. With earnings season now mostly complete, investors have some decisions to make about how they want to be positioned ahead of an upcoming election and what is still a very deep recession.

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 Wednesday, August 5, 2020.

Activision Blizzard Inc. (NASDAQ: ATVI) was up almost 2% at $86.45 a share ahead of earnings but was down about 1.5% at $85.10 afterward. Credit Suisse reiterated its Outperform rating and raised its target to $96 from $92. Needham reiterated it as Buy and raised its price target from $90 to $102.

AON PLC (NYSE: AON) was downgraded to Underperform from Market Perform at Raymond James.

Brinker International Inc. (NYSE: EAT) was started as Buy with a $34 target price (versus a $27.65 prior close) at Jefferies.

Corcept Therapeutics Inc. (NASDAQ: CORT) was last seen trading down about 10% at $14.05 after earnings. Jefferies downgraded it to Hold from Buy.

Domino’s Pizza Inc. (NYSE: DPZ) was named as the Bull of the Day at Zacks, which said that people have been turning toward this pizza chain to cure their pandemic blues. Shares most recently closed at $391.86 and have a consensus price target of $429.00.

Enphase Energy Inc. (NASDAQ: ENPH) was reiterated as Buy and its price target was raised to $77 from $53 (versus a $68.95 close) at Needham.

Kansas City Southern (NYSE: KSU) was downgraded to Hold from Buy at Stifel.

Monster Beverage Corp. (NASDAQ: MNST) was reiterated as Outperform and its price target was raised to $92 from $90 (versus a $78.01 close) at Credit Suisse. Also, Deutsche Bank reiterated it as Buy and raised its target price from $83 to $92.

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