Top Analyst Upgrades and Downgrades: BioNTech, Costco, Enphase, Etsy, Moderna, Novavax, Regeneron, Roku, Square, Teva, Wayfair, Zynga and More

The stock market was looking for direction on Thursday after big gains on Wednesday. Earnings season has reached its peak and 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 Thursday, August 6, 2020.

Arena Pharmaceuticals Inc. (NASDAQ: ARNA) was reiterated as Outperform and the price target was raised to $91 from $73 (versus a $64.43 prior close) at SVB Leerink.

BioNTech S.E. (NASDAQ: BNTX) was reiterated as Market Perform but the target price was raised to $69 from $42 (versus an $81.30 close) at SVB Leerink.

Costco Wholesale Corp. (NASDAQ: COST) was up 1.6% at $345.50 after its strong July sales data. Citigroup reiterated Costco as Neutral but raised its target price to $345 from $310.

Enphase Energy Inc. (NASDAQ: ENPH) closed up 8.7% at $74.99 on Wednesday. H.C. Wainwright reiterated it as Buy and raised its target to $100 from $48.

Etsy Inc. (NASDAQ: ETSY) was raised to Buy from Neutral with a $160 price target at Roth Capital. KeyBanc Capital Markets reiterated it as Overweight and raised its target to $150 from $115, while Needham reiterated its Buy rating and raised its target from $130 to $150.

HubSpot Inc. (NYSE: HUBS) was reiterated as Buy and its target price was raised to $328 from $286 (versus a $237.80 close) at Citigroup. Its target was raised to $300 from $200, and it was reiterated as Overweight at Piper Sandler

IMAX Corp. (NASDAQ: IMAX) was named as the Zacks Bear of the Day stock. The firm said that the movie theater business has been completely shut down by the outbreak. Shares last closed at $11.90 and have a consensus price target of $16.05.

KB Home (NYSE: KBH) was raised to Overweight from Sector Weight with a $42 price target (versus a $34.10 close) at KeyBanc Capital Markets.

Kraft Heinz Co. (NASDAQ: KHC) was named as the Bull of the Day at Zacks, which said that the big food companies are benefitting from shifting consumer behavior during lockdowns. Shares most recently closed at $34.78 and have a consensus price target of $36.10.

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