Stocks closed down on Friday, but Monday’s trading session was looking like a bounce, with the major indexes up 0.6% or so on average. As many investors missed out on the recovery from late in March, many of the key leadership stocks are down significantly from their highs. Now is the time that investors need to be thinking about new ideas ahead of the election and heading into year’s end.
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 seen on Monday, October 5, 2020.
American Airlines Group Inc. (NASDAQ: AAL) was named as the Zacks Bear of the Day stock. The firm said that despite lip service of more stimulus, this stock still faces hard times. Shares last closed at $13.00 and have a consensus price target of $11.38.
American Express Co. (NYSE: AXP) was reiterated as Overweight and its price target was raised to $115 from $114 at Morgan Stanley.
AT&T Inc. (NYSE: T) was downgraded to Underweight from Sector Weight with a $25 price target at KeyBanc Capital Markets. Shares closed at $28.68 on Friday, with a $32.31 consensus target price.
CRISPR Therapeutics A.G. (NASDAQ: CRSP) was started with a Buy rating and a $110 price objective at BofA Securities. Shares closed down 4.4% at $79.67 on Friday and have a $95.21 consensus price target.
DocuSign Inc. (NASDAQ: DOCU) was raised to Overweight from Equal Weight with a $260 price target (versus a $218.27 prior close) at Morgan Stanley.
Dunkin’ Brands Group Inc. (NASDAQ: DNKN) was downgraded to Neutral from Buy at BTIG.
Freshpet Inc. (NASDAQ: FRPT) was started as Overweight with a $131 price target (versus a $112.83 close) at Atlantic Equities.
Hibbett Sports Inc. (NASDAQ: HIBB) was named as the Bull of the Day at Zacks, which said that this retailer has produced some big beats and still has a very attractive valuation. Shares most recently closed at $44.61 and have a consensus price target of $39.50.
ONEOK Inc. (NYSE: OKE) was raised to Overweight from Equal Weight and its price target was raised to $36 from $34 (versus a $26.53 close) at Wells Fargo.
Regeneron Pharmaceuticals Inc. (NASDAQ: REGN) was raised to Overweight from Neutral with a $690 price target (versus a $564.80 close) at Cantor Fitzgerald. The stock was last seen up over 5% at $597.50 after its coronavirus treatment was confirmed to have been used on President Donald Trump on Friday.
Shopify Inc. (NYSE: SHOP) was started as Equal Weight with a $970 price target at Morgan Stanley.
Sprout Social Inc. (NASDAQ: SPT) was reiterated as Buy and its price target was raised to $46 from $40 (versus a $38.14 close) at Needham.
Tesla Inc. (NASDAQ: TSLA) was maintained as Underweight but its price target was raised to $75 from $65 at JPMorgan, a long-term bearish analyst. The call was based on valuations, high expectations and execution risks.
Translate Bio Inc. (NASDAQ: TBIO) was started with a Buy rating and a $19 price target (versus a $13.00 close) at Goldman Sachs.
Vir Biotechnology Inc. (NASDAQ: VIR) was started with a Buy rating and its price objective was set at $55 (versus a $33.33 close) at BofA Securities.
Visa Inc. (NYSE: V) was reiterated as Outperform with a $220 price target (versus a $203.35 close) at Wedbush Securities.
Friday’s top analyst upgrades and downgrades included American Eagle Outfitters, Carvana, General Dynamics, Halliburton, Papa Johns, Snowflake, Splunk, Walmart and Workday.