Stock futures were indicated to open more than 1% higher after Joe Biden was being declared the winner of the presidential race, but equity futures then exploded higher at 6:45 a.m. after the Pfizer/BioNTech COVID-19 treatment was announced to have over 90% efficacy against the coronavirus. Many of the recovery and reopen stocks were the leaders on Monday, and some of the work-from-home and stay-at-home stocks traded lower. Investors are trying to consider new ideas about how to be positioned heading into 2021, even with many unknowns still ahead.

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 Monday, November 9, 2020.

Albemarle Corp. (NYSE: ALB) was raised to Buy from Neutral with a $132 price target at Citigroup. The stock was up over 6% at $112.22 on Friday, and its shares were trading up almost 3% at $115.00 on Monday.

Analog Devices Inc. (NASDAQ: ADI) was upgraded to Outperform from In-Line and its target was raised to $160 from $135 at Evercore ISI Group. The stock was indicated up almost 2% at $136.00 a share on Monday, and it has a $138.16 consensus target price.

Array Technologies Inc. (NASDAQ: ARRY) was up 13.9% at $44.81 per share, but it traded down nearly 3% at $43.50 on Monday after the analysts were free to start coverage. The shares were started as Equal Weight at Barclays, as Neutral at JPMorgan, as Neutral at Credit Suisse, as Market Perform at Cowen and as Underweight at Morgan Stanley.

Biogen Inc. (NASDAQ: BIIB) had seen its shares surge on what was expected to be a favorable FDA panel nod for its Alzheimer’s drug, but the advisory committee gave a recommendation against approving the drug. The shares were all the way back down 28% at $236.00 on Monday morning. BofA Securities downgraded it to Underperform from Neutral, Cowen it downgraded to Market Perform from Outperform, and Atlantic Equities downgraded it to Underweight from Neutral.

Cheesecake Factory Inc. (NASDAQ: CAKE) was raised to Buy from Hold with a $40 price target at Deutsche Bank.

Delta Air Lines Co. (NYSE: DAL) was named as the Zacks Bear of the Day stock. The firm said that it is still tough to be an airline and the road to recovery will be tough as well. Shares last closed at $31.42 and have a consensus price target of $38.78.

Fisker Inc. (NYSE: FSR) was started as Outperform with a $22 price target at Cowen. The stock closed down 1.3% at $10.86 per share on Friday, but it was indicated up 7% at $11.63 on Monday.