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Top Analyst Upgrades and Downgrades: Amgen, Boeing, eBay, Etsy, Fastly, Fiverr, Ford, GE, Gilead, Pinterest, Six Flags and More

Jon C. Ogg

Published: October 29, 2020 8:57 am

Last Updated: October 29, 2020 9:14 am

Stocks have been sliding this week, and Wednesday’s 943-point drop in the Dow Jones industrials was based on rising coronavirus cases, unrest and weak earnings reactions. Thursday’s futures indications had been positive overnight, but the indexes were indicated to open lower by 0.2% or so despite lower jobless claims and despite a 33.1% rise in third-quarter gross domestic product. Ahead of the election, many investors are looking for new ideas about how to be positioned heading into 2021.

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 29, 2020.

Amgen Inc. (NASDAQ: AMGN) was reiterated as Overweight and its price target was raised to $275 from $273 at Morgan Stanley. BofA Securities reiterated it as Buy but cut its price objective to $265 from $275. SVB Leerink reiterated its Market Perform rating and cut its target to $243 from $261. The stock closed down 3.17% at $216.38 a share ahead of earnings and was indicated down 1.1% at $214.00 after the report.

Blackstone Group Inc. (NYSE: BX) was raised to Outperform from Perform with a $58 price target at Oppenheimer. The stock closed down 3.05% at $50.29 per share and has a $61.63 consensus target price.

Boeing Co. (NYSE: BA) was maintained as Underweight and its target price was cut to $165 from $181 at Morgan Stanley. Boeing closed down 4.57% at $148.14 per share on Wednesday and was indicated to open flat on Thursday.

Boston Scientific Corp. (NYSE: BSX) was down 5.5% at $34.07 on Wednesday after earnings. Morgan Stanley cut its target price to $41 from $48 but maintained its Overweight rating.

Etsy Inc. (NASDAQ: ETSY) was down 4.2% at $139.64 on Wednesday and was indicated down 1.37% at $137.73 ahead of Thursday’s open after earnings. Morgan Stanley reiterated it as Underweight but raised its price target to $74 from $68. Wedbush Securities reiterated its Outperform rating and raised its price target to $165 from $155, and Needham reiterated it as Buy and raised its price target from $150 to $155. KeyBanc Capital Markets reiterated its Overweight rating and raised its target to $160 from $150, while Canaccord Genuity reiterated its Buy rating and raised its target to $170 from $160.

eBay Inc. (NASDAQ: EBAY) was down 0.56% at $53.25 per share ahead of earnings, and the stock was indicated down another 4.2% at $51.00 after the report. Morgan Stanley maintained it as Equal Weight and cut its target price to $57 from $62. BofA Securities reiterated it as Neutral and raised its price objective from $62 to $64, and Wedbush reiterated its Outperform rating and raised its price target to $65 from $64.

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Fastly Inc. (NYSE: FSLY) was down 4% at $71.43 on Wednesday ahead of earnings, and the stock was indicated to open up 1.3% at $72.40 a share on Thursday. BofA Securities reiterated the stock as Underperform and lowered its price objective to $75 from $90.

Fiverr International Ltd. (NYSE: FVRR) was up 7.7% at $160.08 per share after earnings on Wednesday. Needham reiterated it as Buy and raised its price target to $180 from $155.

Ford Motor Co. (NYSE: F) was down 2.8% at $7.70 a share ahead of earnings but it was indicated up 2.6% at $7.91 after beating expectations. BofA Securities reiterated its Buy rating and raised its price objective to $10.50 from $9.00.

General Electric Co. (NYSE: GE) managed to close up 4.6% at $7.43 after earnings on Wednesday, despite the sell-off. Morgan Stanley reiterated GE as Overweight and raised its price target to $8.50 from $8.00.

Gilead Sciences Inc. (NASDAQ: GILD) closed down 2.15% at $58.72 ahead of earnings and the stock was indicated down 0.8% at $58.25 on Thursday morning. SVB Leerink maintained its Outperform rating but cut its target price was to $79 from $88.

NXP Semiconductors N.V. (NASDAQ: NXPI) was named as the Bull of the Day at Zacks, which said the fourth industrial revolution is upon us, and well-positioned chipmakers like this one are poised to explode. The shares most recently closed at $129.77 and have a consensus price target of $155.40.

Pinterest Inc. (NYSE: PINS) was down 6.2% at $49.25 a share ahead of earnings, but the beat-and-raise quarter was strong enough that its stock was indicated up almost 32% at $64.30 after the report. Wedbush reiterated it as Outperform and raised its price target to $74 from $58. BofA Securities reiterated its Buy rating and raised its price target to $72 from $58, and MKM Partners raised the stock to Buy from Neutral with a $66 price target. JPMorgan also raised its rating, to Overweight from Neutral with a $75 price target, and Morgan Stanley reiterated its Overweight rating and raised its target price to $73 from $47.

Six Flags Entertainment Corp. (NYSE: SIX) was named as the Zacks Bear of the Day stock. The firm said that the anticipated second pandemic wave is finally hitting and investors in this stock are reeling. Shares last closed at $20.03, and they have a consensus price target of $22.45.

Teladoc Health Inc. (NYSE: TDOC) was up 1.7% at $226.94 ahead of earnings and was last seen down almost 3% at $220.00 after the report. SVB Leerink reiterated it as Outperform and raised its price target to $256 from $246. KeyBanc Capital Markets reiterated its Overweight rating and lifted its price target from $240 to $245.

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Goldman Sachs sees a rotation into the industrial sector in the coming year and has four top stock picks in the sector in the wake of their solid third-quarter reports.

Wednesday’s top analyst upgrades and downgrades included Advanced Micro Devices, Caterpillar, Corning, DexCom, Enphase Energy, First Solar, Invesco, Microsoft, Pfizer, 3M and Wynn Resorts.