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Top Analyst Upgrades and Downgrades: Bed Bath & Beyond, Booking, Carvana, EA, EOG, Honeywell, ICE, Livongo, Nucor, Seres, Sunrun and More

The S&P 500 was indicated to open up about 0.6% higher and the Dow Jones industrials up about 1.0% on Tuesday. The S&P 500 is now very close to recapturing its all-time highs, and money has been rotating into the recovery stocks away from the key technology drivers that have thrived during the recession. Earnings season has now peaked and many investors feel as though they may have missed out on the recovery rally. This will send those investors to look for new ideas for how to be positioned in the second half of 2020 and ahead of the election.

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.

Now that stocks have recovered so much, analyst calls have normalized with fewer extreme target changes. Remember that no single analyst call should ever be used as a basis to buy or sell a stock. Consensus analyst target data is from Refinitiv.

These are the top analyst upgrades, downgrades and initiations from Tuesday, August 11, 2020.

ALX Oncology Holdings Inc. (NASDAQ: ALXO) was started as Overweight with a $55 target at Piper Sandler, and Credit Suisse started it as Outperform with a $53 target. Jefferies started it as Buy with a $50 target price.

Amicus Therapeutics Inc. (NASDAQ: FOLD) was reiterated as Buy and its target was raised to $20 from $15 at Citigroup.

Beacon Roofing Supply Inc. (NASDAQ: BECN) was downgraded to Equal Weight from Overweight at Stephens.

Bed Bath & Beyond Inc. (NASDAQ: BBBY) was reiterated as Outperform with a $15 target price (versus a $12.66 prior close) at Wedbush Securities. The firm noted that positive sales momentum adds confidence for the company to make up to $300 million in debt repurchases.

Booking Holdings Inc. (NASDAQ: BKNG) was reiterated as Buy and its target price was raised to $2,050 from $1,900 (versus a $1,768.58 close) at Citigroup.

Carvana Co. (NYSE: CVNA) was reiterated as Buy and its target price was raised to $240 from $120 (versus a $190.12 close) at Citigroup.

Charter Communications Inc. (NASDAQ: CHTR) was reiterated as Buy and its price target was raised to $700 from $615 (versus a $602.34 close) at Citigroup.

Electronic Arts Inc. (NASDAQ: EA) was reiterated as Buy and its target price was raised to $165 from $150 (versus $140.70 close) at Needham.

EOG Resources Inc. (NYSE: EOG) was reiterated as Outperform and its target price was raised to $64 from $60 (versus a $50.46 close) at Raymond James.

Esperion Therapeutics Inc. (NASDAQ: ESPR) was downgraded to Neutral from Outperform at Credit Suisse.

Honeywell International Inc. (NYSE: HON) was downgraded to Sector Perform from Outperform and its price target was lowered to $158 from $166 (versus a $159.43 close) at RBC Capital Markets.

Intercontinental Exchange Inc. (NYSE: ICE) was reiterated as Buy and its target price was raised to $115 from $108 (versus a $99.16 close) at Citigroup.

Johnson Controls International PLC (NYSE: JCI) was upgraded to Outperform from Sector Perform and its target price was raised to $46 from $36 (versus a $40.10 close) at RBC Capital Markets.

Livongo Health Inc. (NASDAQ: LVGO) was reiterated as Buy and its target price was raised to $170 from $125 (versus a $121.41 close) at Citigroup.