The S&P 500 had been setting new all-time highs, but last week brought a major interruption to those gains. Tuesday’s futures indications were positive in the very early hours, but more pressure was seen and the indexes were indicated to open down over 1%, with a drag on tech being seen the most. Many investors missed the recovery as the recession forced them out of the market, and those all-time highs remain puzzling to much of Main Street. 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 with a goal of finding new ideas for investors and traders alike. Some of these daily analyst calls cover stocks to buy. Other calls 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, September 8, 2020.
Alaska Air Group Inc. (NYSE: ALK) was started as Equal Weight at Morgan Stanley.
Alnylam Pharmaceuticals Inc. (NASDAQ: ALNY) was started as Buy and a $170 target price at Citigroup. Shares closed down 1.9% at $122.83 on Friday, with a $166 consensus target price.
Apple Inc. (NASDAQ: AAPL) was reiterated as Outperform with a $150 price target (versus a $120.96 prior close) at Wedbush Securities. The firm’s call comes after channel checks offer further confidence into the coming iPhone supercycle thesis with pent up demand. Apple was indicated down over 5% at $114.10 a share on Tuesday, with a $114.82 consensus target price.
AutoZone Inc. (NYSE: AZO) was raised to Overweight from Neutral with a $1,425 price target at Atlantic Equities.
Avis Budget Group Inc. (NASDAQ: CAR) was named as the Zacks Bear of the Day stock. The firm said that the near-term outlook remains rough and the company might face a bumpy road ahead. Shares last closed at $34.87 and have a consensus price target of $39.00.
Baidu Inc. (NASDAQ: BIDU) was downgraded to Equal Weight from Overweight and its price target was lowered to $130 from $140 at Morgan Stanley.
Boeing Co. (NYSE: BA) was started as Underweight with a $181 target price at Morgan Stanley. Boeing closed up 1.3% at $171.05 on Friday and was indicated down 2.7% at $166.37 on Tuesday. Its consensus target price was $174.64.
Camping World Holdings Inc. (NYSE: CWH) was raised to Overweight from Neutral and its target price was raised to $40 from $30 at JPMorgan. Shares closed down 1.4% at $30.47 on Friday, with a $38.00 consensus target price.
Carrier Global Corp. (NYSE: CARR) was started as Neutral at Credit Suisse.
CureVac N.V. (NASDAQ: CVAC) was started as Hold with a $58 price target (versus a $63.45 close) at Jefferies.