The stock market was looking for direction on Friday morning after the Labor Department’s payrolls and unemployment data were better than expected. This week marked the peak of earnings season. 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 Friday, August 7, 2020.
Alteryx Inc. (NYSE: AYX) was maintained as Buy but its target price was cut to $172 from $192 (versus a $169.00 prior close, after a 5.4% drop) at Needham. Piper Sandler maintained its Overweight rating but lowered its target to $185 from $195. Shares traded down 21% at $133.25 on Friday morning’s post-earnings reaction, and the previous consensus target price was $168.58.
American Water Works Co. Inc. (NYSE: AWK) was more or less flat after earnings, but the stock was still trading close to $10 higher than its consensus target price. Janney reiterated its Buy rating with a $153 price target.
Avnet Inc. (NASDAQ: AVT) was reiterated as Strong Buy but its target price was lowered to $35 from $44 (versus a $28.92 close) at Raymond James.
AVROBIO Inc. (NASDAQ: AVRO) was reiterated as Outperform with a $36 price target (versus a $16.76 reference price) at Wedbush Securities, with the firm’s 100%-plus price target noting that the company continues to report positive trends from already-treated patients in its lentiviral gene therapy study for Fabry disease ahead of the company attending the annual virtual Wedbush PacGrow Healthcare Conference on August 12.
Becton, Dickinson and Co. (NYSE: BDX) was reiterated as Outperform and its target price was raised to $285 from $265 (versus a $259.61 close) at Raymond James.
Booking Holdings Inc. (NASDAQ: BKNG) was reiterated as Buy and its target price was raised to $2,000 from $1,750 (versus a $1,751.79 close) at Needham. Shares were last seen trading up almost 4% to $1,820.00 after the earnings report.
Callaway Golf Co. (NYSE: ELY) was reiterated as Outperform and its target price was raised to $22 from $17.50 (versus a $19.65 close) at Raymond James.
CarGurus Inc. (NASDAQ: CARG) was up 3.6% at $31.80 ahead of earnings on Thursday, but Friday’s post-earnings reaction had it down 10% at $28.60. BTIG downgraded it to Neutral from Buy.
Core-Mark Holding Co. Inc. (NASDAQ: CORE) rose 10% to $30.25 on Thursday after earnings. Raymond James reiterated its Outperform rating and raised its target to $34 from $31.
Cloudflare Inc. (NYSE: NET) was reiterated as Buy and its price target was raised to $50 from $47 (versus a $41.35 close) at Needham.
CryoPort Inc. (NASDAQ: CYRX) was reiterated as Buy and its price target was raised to $37 from $23 (versus a $34.98 close) at Needham.
Datadog Inc. (NASDAQ: DDOG) was reiterated as Buy and its price target was raised to $106 from $105 (versus a $90.01 close, after a 4.5% drop ahead of earnings) at Needham. The post-earnings reaction had shares down almost 8% at $82.95 on Friday.
Dicerna Pharmaceuticals Inc. (NASDAQ: DRNA) was reiterated as Outperform and its target price was raised to $46 from $43 at SVB Leerink. H.C. Wainwright reiterated it as a Buy and raised its target price to $35 from $32.
D.R. Horton Inc. (NYSE: DHI) was named as the Bull of the Day at Zacks, which said that mortgage rates and more people moving to the suburbs are helping homebuilders. Shares most recently closed at $67.62 and have a consensus price target of $75.19.
Dynavax Technologies Corp. (NASDAQ: DVAX) was maintained as Buy but its target price was lowered to $12 from $14 (versus an $8.82 close) at H.C. Wainwright.