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Top Analyst Upgrades and Downgrades: AES, Ambarella, Beyond Meat, Bloom Energy, Facebook, Home Depot, SunPower, Tesla, Valero and More

Home Depot Inc. (NYSE: HD) was downgraded to Perform from Outperform at Oppenheimer, with the firm pointing out that the market has not accounted for a slower growth after the COVID-19 boost.

Limelight Networks Inc. (NASDAQ: LLNW) was started as Buy and a $9 price target (versus a $5.85 prior close) at Truist.

Lowe’s Companies Inc. (NYSE: LOW) was downgraded to Perform from Outperform at Oppenheimer, with the firm pointing out that the market has not accounted for a slower growth after the COVID-19 boost.

Nike Inc. (NYSE: NKE) was reiterated as Outperform and its target price was raised to $121 from $115 at Raymond James. Needham reiterated it as Buy and raised its target price target to $132 from $113.

Phillips 66 (NYSE: PSX) was reiterated as Outperform but its target price was lowered to $69 from $75 at Raymond James.

Strategic Education Inc. (NASDAQ: STRA) was started with a Hold and a $105 price target (versus a $93.80 prior close) at Truist. The stock is still down from a 52-week high of $187.98 per share, and its consensus target price was $165.33.

SunPower Corp. (NASDAQ: SPWR) was raised to Equal Weight from Underweight at Morgan Stanley.

Tanger Factory Outlet Centers Inc. (NYSE: SKT) was named as the Zacks Bear of the Day stock. The firm asks whether there is any recovery for the mall operators. Shares last closed at $6.49 and have a consensus price target of just $5.10.

Tesla Inc. (NASDAQ: TSLA) was reiterated as Overweight and its price target was raised to $515 from $480 at Piper Sandler, with the upgrade actually coming from Tesla’s energy business rather than just its electric vehicle sales. Wedbush maintained its Neutral rating but still raised its target price to $475 from $380. Tesla closed down 4.1% at $423.43 a share on Thursday, and it had a $307.06 consensus target price ahead of the call.

Valero Energy Corp. (NYSE: VLO) was maintained as Outperform and its price target was lowered to $60 from $63 (versus a $49.00 close) at Raymond James.

Williams-Sonoma Inc. (NYSE: WSM) was named as the Bull of the Day at Zacks, which said that the home it the hottest spot in retail. Shares most recently closed at $89.62, with a consensus price target of $94.50.


BofA Securities has five picks from the energy and financial sectors that are contrarian bets but have very solid upside potential to the firm’s price objectives into 2021.

There are also six industrial companies that offer value and solid upside into 2021.

Thursday’s top analyst upgrades and downgrades included Boston Scientific, CVS Health, FMC, Lennar, NovoCure, Penn National Gaming, Ruth’s Hospitality, Stitch Fix and Veeco Instruments.

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