The Dow Jones industrials and S&P 500 managed to hang on to gains on Tuesday, and the indexes were all marginally higher on Wednesday. After the longest bull market turned into the fastest bear market and then fully recovered in record time, many investors missed out on the recovery from late in March through much of the summer. Now is the time that investors need to be 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 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 Wednesday, September 16, 2020.
Adobe Inc. (NASDAQ: ADBE) was reiterated as Equal Weight at Wells Fargo, but the firm raised its target price to $500 from $375. BMO Capital Markets reiterated its Outperform rating and raised its target from $535 to $560, and UBS reiterated its Buy rating and raised its target to $577 from $540. At RBC Capital Markets, the Outperform rating was reiterated, but the firm raised its target to $570 from $550. Many analysts already had raised Adobe’s price target ahead of earnings. Shares closed up 2.4% at $497.67 ahead of earnings, and they were last seen up 2% at $508.00 afterward.
American Tower Corp. (NYSE: AMT) was reiterated as Overweight at Wells Fargo, but the firm did trim its price target to $285 from $290.
Apple Inc. (NASDAQ: AAPL) was reiterated as Buy and its target price was raised to $140 from $112 at Needham. Wedbush Securities reiterated its Outperform rating and reiterated its same $150 price target. Apple closed up just 18 cents a share at $115.54 on Tuesday’s product event, and the shares were indicated down 30 cents at $115.24 on Wednesday morning.
Camping World Holdings Inc. (NYSE: CWH) was reiterated as Buy with a $38 price target (versus a $33.08 close) at Truist Securities.
Cracker Barrel Old Country Store Inc. (NASDAQ: CBRL) was reiterated as Buy and its price target was raised to $152 (versus a $131.21 close) at Truist.
FedEx Corp. (NYSE: FDX) was trading up 9% at $258.39 after beating earnings, and Morgan Stanley reiterated it as Equal Weight and raised its target to $250 from $110. Raymond James reiterated its Outperform rating and raised its price target from $165 to $280. Wells Fargo reiterated its Overweight rating and raised its target price to $286 from $221.
Gildan Activewear Inc. (NYSE: GIL) was named as the Zacks Bear of the Day stock. The firm said that a terrible earnings report helped send current-year earnings estimates deep into negative territory. Shares last closed at $20.10 and have a consensus price target of $17.71.
HCA Healthcare Inc. (NYSE: HCA) was reiterated as Buy and its price target was raised to $165 from $150 (versus a $135.80 close) at Truist.