Stocks managed to bounce on Tuesday, and the Dow Jones industrials and S&P 500 were both indicated higher on Wednesday morning as well. Many investors missed out on the recovery from late in March through September. With an election coming and with a slowing recovery situation, many investors are looking for new ideas and trying to decide how they want to be positioned with short-term interest rates at zero.
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 23, 2020.
Advance Auto Parts Inc. (NYSE: AAP) was named as the Bull of the Day at Zacks, which said that DIY trends in auto parts stay hot as tough economic times continue. Shares most recently closed at $150.11, with a consensus price target of $173.62.
AGCO Corp. (NYSE: AGCO) was started as Outperform at Bernstein. Shares closed up 1.4% at $71.80 on Tuesday, with a $74.73 consensus price target.
American Express Co. (NYSE: AXP) was downgraded to Underperform from Neutral and its price objective was lowered to $95 from $106 at BofA Securities. The stock was up 0.3% at $98.48 a share on Tuesday and was indicated down 1.6% at $96.85 on Wednesday morning. It had a $104.76 consensus target price ahead of the downgrade.
Carvana Co. (NYSE: CVNA) closed up 30% at $226.83 on Tuesday. The stock was reiterated as Buy at Needham, which raised its target price to $265 from $200.
Cassava Sciences Inc. (NASDAQ: SAVA) was raised to Buy from Neutral with a $20 price target at H.C. Wainwright. Its shares closed up 6.4% at $10.45 on Tuesday, with a $14.00 consensus target price.
CME Group Inc. (NASDAQ: CME) was raised to Overweight from Neutral and its target price was raised to $195 from $176 (versus a $166.59 prior close) at Atlantic Equities.
CSX Corp. (NYSE: CSX) was raised to Overweight from Neutral with a $92 price target (versus a $77.93 close) at Atlantic Equities. It had an $80.74 consensus target price.
Cummins Inc. (NYSE: CMI) was started with an Outperform rating and a $255 price target at Bernstein.
Deere & Co. (NYSE: DE) was started with a Market Perform rating at Bernstein.
Hasbro Inc. (NASDAQ: HAS) was raised to Outperform from Market Perform and its target price was raised to $90 from $69 BMO Capital Markets. The stock closed down 0.8% at $75.45 on Tuesday but was indicated up 2% at $77.01 on Wednesday. It had an $88.21 consensus target price.
HubSpot Inc. (NYSE: HUBS) was maintained as Equal Weight but its target was raised to $270 from $245 at Wells Fargo. Shares closed down 0.9% at $282.18 on Tuesday, with a $269.76 consensus target price. Truist Securities reiterated its Buy rating and maintained its $295 price target.