Stocks have been selling off in September, and Monday, September 21, was a continuation of that selling. The Dow Jones industrials and S&P 500 were both indicated down about 2% in Monday’s futures trading. Many investors who missed out on the recovery rally might be looking for new ideas about how to get back in the market now that selling has come back into play. That said, COVID-19 cases are popping up outside of the United States and are still strong in the country. There is also a slowdown of the recovery, and Washington, D.C., is in gridlock and there is a highly contentious election coming up.
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 Monday, September 21, 2020.
American States Water Co. (NYSE: AWR) was raised to Overweight from Equal Weight with a $79 price target (versus a $69.99 prior closing price) at Wells Fargo.
Automatic Data Processing Inc. (NASDAQ: ADP) was downgraded to Market Perform from Outperform at Cowen.
Brooks Automation Inc. (NASDAQ: BRKS) was raised to Buy from Hold with a $52 price target (versus a $45.51 close) at Stifel.
Carrier Global Corp. (NYSE: CARR) was started with a Buy rating and a $35 target price (versus a $30.79 close) at Goldman Sachs.
CorMedix Inc. (NASDAQ: CRMD) was started with a Buy rating and a $20 price target (versus a $4.61 close) at Truist Securities. The analyst noted that its Defencath could change the standard of care when it comes to central venous catheters. The stock was indicated up 8% at $4.98 on Monday, and the market cap is only about $160 million.
Darden Restaurants Inc. (NYSE: DRI) was downgraded to Neutral from Outperform at Wedbush Securities.
Dunkin’ Brands Group Inc. (NASDAQ: DNKN) was raised to Overweight from Neutral with an $89 price target (versus a $76.42 close) at Piper Sandler.
FedEx Corp. (NYSE: FDX) was named as the Bull of the Day at Zacks, which said that blowout quarterly results highlighted its ability to thrive during the coronavirus. Shares last closed at $242.78 and have a consensus price target of $276.50.
HCA Healthcare Inc. (NYSE: HCA) was downgraded to Neutral from Overweight at JPMorgan.
Hyatt Hotels Corp. (NYSE: H) was named as the Zacks Bear of the Day stock. The firm said that the coronavirus brought the entire travel and leisure industry to nearly a complete. Shares most recently closed at $57.02 and have a consensus price target of $51.35.
KLA Corp. (NASDAQ: KLAC) was raised to Buy from Hold with a $211 price target (versus a $178.96 close) at Stifel.