Stocks closed sharply higher on Wednesday in an election relief, although the outcome is not yet known and may take some time to be determined. Stocks were indicated to open up handily higher on Thursday, despite the uncertainty. Many investors missed out on the recovery from March’s panic selling. With the election still undecided and many issues still facing America, investors now have to be considering new ideas for 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, November 5, 2020.
Allstate Corp. (NYSE: ALL) was reiterated as Buy and its price objective was raised to $149 from $147 at BofA Securities.
Biogen Inc. (NASDAQ: BIIB) closed up almost 44% at $355.63 after the FDA posted its notes ahead of this week’s advisory committee, which is set to discuss its Alzheimer’s drug. BofA Securities upgraded it to Neutral from Underperform and raised its price objective to $360 from $230. BMO Capital Markets reiterated its Market Perform rating but raised its price target from $280 to $343.
CECO Environmental Corp. (NASDAQ: CECO) was maintained as Buy but its price target was cut to $9 from $10 at Needham. The stock closed down 8.14% at $6.21 a share on Wednesday, and it has a $9.25 consensus price target.
Clean Harbors Inc. (NYSE: CLH) was raised to Buy from Neutral with an $80 price target at UBS. The stock closed up almost 10% at $61.00 per share ahead of the call, and it has a $71.89 consensus target price. Also, Needham reiterated its Buy rating and raised its target price to $75 from $72.
CryoLife Inc. (NYSE: CRY) was maintained as Buy but its price target was cut to $28 from $29 at Needham. The stock closed down 0.7% at $18.29 a share on Wednesday, and it has a $27.88 consensus price target.
Five Below Inc. (NASDAQ: FIVE) was downgraded to Hold from Buy at Loop Capital. Morgan Stanley reiterated its Overweight rating and raised its price target to $145 from $135.
Hologic Inc. (NASDAQ: HOLX) was reiterated as Buy and its target price was raised to $88 from $78 at Needham. The stock closed up 2.5% at $73.75 per share ahead of the call. The consensus target price is $78.21.
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