Stocks closed lower on Tuesday after inflation remains under the Federal Reserve’s new target and as stimulus hopes are waning. The major indexes were up by about 0.1% in early trading on Wednesday. Many investors missed out on the recovery from late in March, but many key leadership stocks have pulled back from their highs to 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 14, 2020.

Apple Inc. (NASDAQ: AAPL) was reiterated as Overweight and its price target was raised to $136 from $130 at Morgan Stanley. Wedbush Securities reiterated its Outperform rating and $150 price target. Apple closed down 2.6% at $121.10 a share, with a $120.08 consensus price target, after formally unveiling the iPhone 12 with 5G capabilities.

AutoZone Inc. (NYSE: AZO) was raised to Strong Buy from Outperform and its target price was raised to $1,565 from $1,500 (versus a $1,164.59 prior close) at Raymond James.

Bed Bath & Beyond Inc. (NASDAQ: BBBY) was reiterated as Strong Buy and its price target was raised to $26 from $22.00 (versus a $22.15 close) at Raymond James.

BioNTech S.E. (NASDAQ: BNTX) was reiterated as Market Perform but its price target was raised to $69 from $62 (versus a $93.00 close) at SVB Leerink. It had an $80.38 consensus target price.

Citrix Systems Inc. (NASDAQ: CTXS) was started with a Neutral rating at UBS.

Compass Pathways PLC (NASDAQ: CMPS) was started with a Buy rating and a $65 target price (versus a $38.82 close) at H.C. Wainwright.

Constellation Brands Inc. (NYSE: STZ) was downgraded to Neutral from Overweight at Atlantic Equities.

DocuSign Inc. (NASDAQ: DOCU) was started with a Buy rating and a $290 target price (versus a $238.21 close) at UBS.

Ferrari N.V. (NYSE: RACE) was reiterated as Buy and its price target was raised to $212 from $209 (versus a $184.19 close) at UBS.

Heat Biologics Inc. (NASDAQ: HTBX) was started with a Buy rating and a $4 target price (versus a $1.31 close) at B. Riley FBR.

Intel Corp. (NASDAQ: INTC) was reiterated as Buy and its price target was raised to $67 from $64 at UBS. On the other hand, Wedbush maintained its Underperform rating and has a $51 price target.

Invitae Corp. (NYSE: NVTA) was downgraded to Neutral from Overweight at JPMorgan.

Microsoft Corp. (NASDAQ: MSFT) was started with a Buy rating and a $243 target price (versus a $222.86 close) at UBS. Microsoft had a $230.34 consensus price target ahead of the call.