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Top Analyst Upgrades and Downgrades: Abbott Labs, Chipotle, Netgear, Parsley Energy, Peloton, Pinterest, Tesla, Wayfair, WPX Energy, Zscaler and More

Stocks closed lower on all three major market indexes on Wednesday, as the stimulus negotiations are looking like they are post-election as the deadline and election date is nearing. The indexes were indicated down over 0.5% overnight, but Thursday’s readings were closer to down 0.2% as earnings season takes hold.

Though many investors missed out on the recovery since late March, 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 Thursday, October 22, 2020.

Abbott Laboratories (NYSE: ABT) was reiterated as Outperform and its target price was raised to $114 from $102 at Raymond James. Also, SVB Leerink maintained its Market Perform rating but raised its price target to $115 from $110. The stock closed down 2.2% at $105.93 a share, and it has a $116.47 consensus target price.

Aramark Corp. (NYSE: ARMK) was downgraded to Neutral from Buy at Citigroup.

Avery Dennison Corp. (NYSE: AVY) was downgraded to Underweight from Neutral at JPMorgan.

BorgWarner Inc. (NYSE: BWA) was downgraded to Equal Weight from Overweight at Barclays.

Chipotle Mexican Grill Inc. (NYSE: CMG) traded up 1.3% to $1,366.66 a share ahead of earnings but was indicated down 4.5% at $1,304.50 after profit-taking. Cowen reiterated it as Outperform and raised its target price to $1,550 from $1,400. Morgan Stanley maintained its Equal Weight rating on valuations but cut its target to $1,253 from $1,285. Wedbush Securities reiterated its Outperform rating and $1,600 target price.

iRobot Corp. (NASDAQ: IRBT) closed down 13% at $83.48 a share on Wednesday after earnings, and it has an $82.00 consensus target price. Raymond James raised its rating from Market Perform to Outperform with a $98 target price.

Mosaic Co. (NYSE: MOS) was downgraded to Neutral from Buy at Citigroup.

Netgear Inc. (NASDAQ: NTGR) closed up 2% at $36.53 on Wednesday after beating earnings. Raymond James reiterated its Outperform rating and raised its $35 price target to $43.