Stocks surged on Monday with the S&P 500 hitting another all-time high. The indexes were trading higher on Tuesday, with average gains of about 0.5% in Dow Jones industrials and S&P 500 futures. The S&P 500 is now up well over 50% from the March panic selling lows, but with earnings season winding down many investors feel as though they may have missed out on the recovery rally. This is a time when investors should be considering new ideas for how to be positioned in the rest 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 Tuesday, August 25, 2020.
Acadia Pharmaceuticals Inc. (NASDAQ: ACAD) was started with an Outperform rating and a $65 target price (versus a $38.00 prior close) at Raymond James.
arGEN-X S.E. (NASDAQ: ARGX) was started as Outperform with a $257 target price (versus a $232.77 close) at Raymond James.
Builders FirstSource Inc. (NASDAQ: BLDR) was reiterated as Buy and its target was raised to $33 from $27 (versus a $28.62 close) at Truist Securities.
Crocs Inc. (NASDAQ: CROX) was raised to Buy from Neutral and its target price was raised to $46 from $35 (versus a $39.34 close) at B. Riley FBR.
Forte Biosciences Inc. (NASDAQ: FBRX) was started as Buy and a $70 target price (versus a $24.70 close) at Truist Securities.
Galapagos N.V. (NASDAQ: GLPG) was downgraded to Hold from Buy at Jefferies.
Gap Inc. (NYSE: GPS) was raised to Buy from Neutral and its target price was raised to $24 from $12 (versus a $15.50 close) at Citigroup.
Global Blood Therapeutics Inc. (NASDAQ: GBT) was started as Outperform and its price target was set at $115 (versus a $62.61 close) at Raymond James.
GW Pharmaceuticals PLC (NASDAQ: GWPH) was started with a Market Perform rating at Raymond James.
L Brands Inc. (NYSE: LB) was raised to Buy from Neutral with a $40 target price (versus a $29.63 close) at MKM Partners.
Lowe’s Companies Inc. (NYSE: LOW) was reiterated as Overweight and its price target was raised to $190 from $160 (versus a $165.63 close) at Morgan Stanley.
Merck & Co. Inc. (NYSE: MRK) was reiterated as Outperform and its target price was raised to $100 from $95 (versus an $85.42 close) at SVB Leerink.
Momenta Pharmaceuticals Inc. (NASDAQ: MNTA) was downgraded to Neutral from Buy at H.C. Wainwright.
NeoPhotonics Corp. (NASDAQ: NPTN) was downgraded to Underperform from Market Perform at Raymond James.