The S&P 500 has continued to surge to new all-time highs. Stocks were on pause and looking for direction on Wednesday as the indexes are starting to see some overbought readings now that all of the March panic-selling losses have been recovered (and then some). Many investors missed the recovery as the recession forced them out of the market. Investors also have been looking for 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 Wednesday, August 26, 2020.
Apple Inc. (NASDAQ: AAPL) was reiterated as Outperform and its price target was raised to $600 from $515 at Wedbush Securities.
Bridgestone Corp. (traded over the counter) was named as the Zacks Bear of the Day stock. The firm said that some stocks recovered from the March lows but this stock was not one of them. Shares last closed at $15.57 and have a consensus price target of $37.14
Cheniere Energy Inc. (NYSEARCA: LNG) was maintained as Buy but its price target was lowered to $74 from $80 (versus a $52.65 prior close) at Citigroup.
Children’s Place Inc. (NASDAQ: PLCE) saw its shares fall 18.8% to $18.92 after earnings on Tuesday. Citigroup maintained its Neutral rating but slashed its price target to $20 from $46.
Discovery Inc. (NASDAQ: DISCA) was reiterated as Buy and its price target was raised to $28 from $27 (versus a $22.86 close) at Citigroup.
Envision Solar International Inc. (NASDAQ: EVSI) was started as Buy with a $25 price target (versus a $10.98 close) at BTIG. It had a $13 consensus price target before this call, and the prior street-high target price was $17.
International Flavors & Fragrances Inc. (NYSE: IFF) was started as Outperform and a $150 price target (versus a $122.88 close) at Robert W. Baird.
Livent Corp. (NYSE: LTHM) was started with a Strong Buy rating and a $9 price target (versus a $7.63 close) at Raymond James. It had a $7.31 consensus price target ahead of the call.