The S&P 500 managed to hit a new all-time high last week, and positive news on coronavirus treatments and overseas market strength had stocks surging again on Monday with both the Dow Jones industrials and S&P 500 up almost 1% in futures trading. Many investors feel as though they missed the recovery, as the recession forced many out of the market. Investors also have been looking 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.
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 Monday, August 24, 2020.
Advanced Micro Devices Inc. (NASDAQ: AMD) was downgraded to Market Perform from Outperform with an $80 target price (versus an $83.81 prior close) at Northland Capital. AMD had a $75.62 consensus target price.
Amphenol Corp. (NYSE: APH) was downgraded to Equal Weight from Overweight at Morgan Stanley.
Analog Devices Inc. (NASDAQ: ADI) was reiterated as Buy and its target price was raised to $134 from $120 (versus a $116.02 close) at Citigroup.
Apple Inc. (NASDAQ: AAPL) was reiterated as Overweight and its target price was raised to $520 from $430 at Morgan Stanley. Apple shares closed up 5.15% at $497.48 on Friday and have a $423.73 consensus target price.
Ballard Power Systems Inc. (NASDAQ: BDLP) was started with an Outperform rating and a $22 target price (versus a $16.22 close) at Bernstein.
Best Buy Co. Inc. (NYSE: BBY) was reiterated as Strong Buy and its target price was raised to $135 from $100 (versus a $114.00 close) at Raymond James.
Deere & Co. (NYSE: DE) was reiterated as Outperform and its target was raised to $228 from $180 at RBC Capital Markets. Morgan Stanley reiterated its Overweight rating and raised its target price to $247 from $181, BofA Securities upgraded Deere to Buy from Neutral.
Dell Technologies Inc. (NYSE: DELL) was reiterated as Buy and its price target was raised to $75 from $55 (versus a $60.46 close) at Citigroup.
Eversource Energy (NYSE: ES) was downgraded to Neutral from Buy and its price target was cut to $91 from $95 (versus an $86.54 close) at Guggenheim.