Stocks managed to post a surprise rally all week, but Friday’s levels were indicated lower, based on profit-taking and election uncertainty combined. Many investors missed out on the recovery from March’s panic selling. With the election still undecided and with many issues still facing America, investors now have to consider looking at 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 Friday, November 6, 2020.
Advanced Micro Devices Inc. (NASDAQ: AMD) was raised to Overweight from Equal Weight with a $100 price target at Wells Fargo.
Albemarle Corp. (NYSE: ALB) was reiterated as Outperform and the price target was raised to $120 from $115 at BMO Capital Markets.
American Superconductor Corp. (NASDAQ: AMSC) was downgraded to Hold from Buy at Canaccord Genuity.
Apollo Global Management Inc. (NYSE: APO) was raised to Overweight from Equal Weight with a $51 target price at Morgan Stanley.
Assembly Biosciences Inc. (NASDAQ: ASMB) closed at $15.90 but was indicated down more than 50% at $6.75 on Friday after its business update. Jefferies downgraded the shares to Hold from Buy.
BigCommerce Holdings Inc. (NASDAQ: BIGC) was reiterated as Neutral at Wedbush Securities after earnings. The stock was up 3.3% at $85.34 on Thursday, but Friday’s indications had it down about 1%, with a $94.50 consensus target price.
Diodes Inc. (NASDAQ: DIOD) was downgraded to Equal Weight from Overweight at Wells Fargo.
Electronic Arts Inc. (NASDAQ: EA) was downgraded to Neutral from Overweight at Piper Sandler.
EOG Resources Inc. (NYSE: EOG) was raised to Buy from Neutral with a $65 target price at BofA Securities.
Hawaiian Holdings Inc. (NASDAQ: HA) was named as the Zacks Bear of the Day stock. The firm said that the airlines cannot wait for 2021. Shares last closed at $14.30 and have a consensus price target of $14.13.
Livent Corp. (NYSE: LTHM) was reiterated as Market Perform and its price target was raised to $9.00 from $8.50 at BMO Capital Markets. The stock closed at $11.85 ahead of the call and has a $9.55 consensus target price.
New Relic Inc. (NYSE: NEWR) was downgraded to Underweight from Neutral and its price target was cut to $72 from $77 at JPMorgan. The shares were indicated down 14% at $56.00 on Friday morning, and the prior consensus target price was $70.40.
Realogy Holdings Corp. (NYSE: RLGY) was named as the Bull of the Day at Zacks, which said consumers looking to buy homes in 2020 are not alone. Shares most recently closed at $12.69 and have a consensus price target of $14.50.
Republic Services Inc. (NYSE: RSG) was reiterated as Buy and its target price was raised to $106 from $101 at BofA Securities.
SAP S.E. (NYSE: SAP) was downgraded to Neutral from Buy at Citigroup.
Square Inc. (NYSE: SQ) was reiterated as Buy and its target price was raised to $230 from $190 at Needham.
T-Mobile US Inc. (NASDAQ: TMUS) was reiterated as Buy and its price objective was raised to $155 from $130 at BofA Securities. The stock was indicated up 5.8% at $124.00, with a $140.27 consensus target price, on Friday morning.
Uber Technologies Inc. (NYSE: UBER) was reiterated as Buy and its price objective was raised to $49 from $44 at BofA Securities, and Needham reiterated its Buy rating and raised its price target to $50 from $42 on Friday. The stock closed up 2.37% at $41.96 on Thursday and has a $42.38 consensus price target.
Vulcan Materials Co. (NYSE: VMC) was downgraded to Hold from Buy at Jefferies.
Yelp Inc. (NYSE: YELP) was raised to Outperform from Sector Perform with a $29 target price at RBC Capital Markets.
Zillow Group Inc. (NASDAQ: Z) was last seen up 8.8% at $113.00 based on strong earnings. RBC Capital Markets raised it to Outperform from Sector Perform with a $147 price target. Needham reiterated its Buy rating and raised its price target from $125 to $145.
Goldman Sachs has updated price targets on some red-hot stocks with plenty of upside in the wake of earnings reports.
Thursday’s top analyst upgrades and downgrades included Biogen, Honeywell, Microsoft, Ping Identity, Qualcomm, Verizon Communications and Wendy’s.