Stocks fell on Tuesday after President Trump called off stimulus negotiations late in the day. His move to call for a direct stimulus package rather than the larger plan offered a bounce for Wednesday. While many investors missed out on the recovery from late in March, there are many of the key leadership stocks that are down significantly from their highs and at more attractive entry points.
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 Wednesday, October 7, 2020.
Alexion Pharmaceuticals Inc. (NASDAQ: ALXN) shares closed up 0.7% at $116.08 on Tuesday after the company raised its guidance. Wedbush Securities reiterated its Outperform rating with a $156 price target. The consensus target price is $142.00.
Amazon.com Inc. (NASDAQ: AMZN) was reiterated at Buy and its price target was raised to $3,800 from $3,675 at Benchmark. The stock closed down 3.1% at $3,099.96 on Tuesday but was indicated up 1% at $3,138 on Wednesday. It has a $3,725.31 consensus price target.
American Eagle Outfitters Inc. (NYSE: AEO) was raised to Overweight from Equal Weight with an $18 price target at Barclays. The stock closed down 3.8% at $14.86 on Tuesday but was indicated up about 3.4% at $15.35 on Wednesday. Its consensus price target was $15.50 ahead of the call.
Anaplan Inc. (NYSE: PLAN) was started as Hold at Jefferies.
Diageo PLC (NYSE: DEO) was raised to Buy from Underperform and its price target was raised to $164 from $109 (versus a $138.33 prior close) at Jefferies.
eBay Inc. (NASDAQ: EBAY) was reiterated as Buy and its price target was raised to $70 from $69 (versus a $49.66 close) at Benchmark. Shares were down 4% on Tuesday, but they were indicated up almost 1% on Wednesday.
Etsy Inc. (NASDAQ: ETSY) was reiterated as Outperform with a $155 price target (versus a $134.56 close) at Wedbush. It had a $152.53 consensus price target.
Foot Locker Inc. (NYSE: FL) was raised to Overweight from Equal Weight with a $39 target price (versus a $36.55 close) at Barclays. The stock was indicated up 2.6% at $37.50 on Wednesday, and its consensus price target was $32.78.
Harley-Davidson Inc. (NYSE: HOG) was named as the Zacks Bear of the Day stock. The firm said that this company hit its peak sales and profitability in 2014 and has since been on the decline. Shares last closed at $26.77 and have a consensus price target of $31.64.
Home Depot Inc. (NYSE: HD) was reiterated as Overweight and its price target was raised to $300 from $295 at Morgan Stanley. The shares closed down 2% at $276.47 apiece on Tuesday but were indicated up 1% at $279.30 on Wednesday. The consensus price target was $302.55.
Jabil Inc. (NYSE: JBL) was named as the Bull of the Day at Zacks, which said that this is one of the largest suppliers of electronic manufacturing services globally and its stock has even more upside. Shares most recently closed at $34.86 and have a consensus price target of $44.20.