Investing
Top Analyst Upgrades and Downgrades: BigCommerce, Citrix, CRISPR, Dunkin, Fastly, Intel, Mattel, Pulte, Sirius, Southwest Air, Tesla, Under Armour and More
October 23, 2020 8:59 am
Last Updated: October 23, 2020 10:08 am
Stocks closed up on Thursday on stimulus talks and ahead of the final presidential debate, and the major indexes were indicated to open about 0.3% higher on Friday morning. Earnings season is in full swing, and the election is now less than two weeks away. 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 Friday, October 23, 2020.
Arch Resources Inc. (NYSE: ARCH) was maintained as Buy but its price target was cut to $54 from $60 (versus a $37.22 prior close) at Benchmark. The stock had a $53.83 consensus target price.
Axalta Coating Systems Ltd. (NYSE: AXTA) was reiterated as Overweight and its price target was raised to $33 from $28 (versus a $26.68 close) at KeyBanc Capital Markets.
BigCommerce Holdings Inc. (NASDAQ: BIGC) was started as Neutral with a $90 price target (versus an $89.95 close, after a 6.1% drop) at Wedbush Securities. It had a $100 consensus target price.
Carlisle Companies Inc. (NYSE: CSL) was named as the Zacks Bear of the Day stock. The firm said that the stock is rocking but the earnings picture could be rolling over. Shares last closed at $129.36 and have a consensus price target of $148.25.
Cerence Inc. (NASDAQ: CRNC) was reiterated as Outperform and its target price was raised to $75 from $60 (versus a $62.10 close, after a 5.4% gain) at Wedbush Securities.
Citrix Systems Inc. (NASDAQ: CTXS) was downgraded to Equal Weight from Overweight at Morgan Stanley.
CRISPR Therapeutics A.G. (NASDAQ: CRSP) was started as Sector Perform with a $110 target price (versus a $90.16 close) at RBC Capital Markets. The stock had a $96.20 consensus target price.
Dunkin’ Brands Group Inc. (NASDAQ: DNKN) was reiterated as Overweight and its target price was raised to $97 from $78 (versus an $89.13 close) at KeyBanc Capital Markets.
Fastly Inc. (NYSE: FSLY) was downgraded to Underweight from Neutral with a $65 target price (versus a $79.21 close) at Piper Sandler. The stock has traded lower every day since the prior week’s warning, although it was positive on Thursday until the last hour, ending with a loss of four cents a share at $79.21.
Intel Corp. (NASDAQ: INTC) closed up 0.75% at $53.90 ahead of earnings, but the processor giant was light on data center sales and its shares were last seen down 9.8% at $48.60 on Friday morning. Mizuho maintained Intel as Buy but cut its price target to $60 from $63. Wedbush Securities reiterated its Underweight rating and cut its target price from $51 to $48.
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