Stocks have posted gains so far this week, as the COVID-19 vaccine news looks more promising, and Wednesday’s trading was indicated up about 0.7% for the Dow Jones industrial average and S&P 500. The tech-heavy Nasdaq was even looking to open higher. As the market is learning to deal with the contested election with run-offs and legal challenges, investors are trying to plan for 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 Wednesday, November 11, 2020.
American International Group Inc. (NYSE: AIG) was downgraded to Neutral from Buy with a $39 price target at Goldman Sachs.
Arrow Electronics Inc. (NYSE: ARW) was named as the Bull of the Day at Zacks, which said this stock just posted a strong positive earnings surprise and has climbed higher as a result. Shares most recently closed at $85.15 and have a consensus price target of $88.43.
AstraZeneca PLC (NYSE: AZN) was raised to Hold from Reduce at HSBC.
Bank of New York Mellon Corp. (NYSE: BK) was raised to Buy from Hold with a $46 price target (versus a $39.22 prior close) at Deutsche Bank. This stock had a $43.62 consensus price target ahead of the call.
Brooks Automation Inc. (NASDAQ: BRKS) was reiterated as Overweight and its price target was raised to $75 from $71 at KeyBanc Capital Markets.
Charles Schwab Corp. (NYSE: SCHW) was raised to Buy from Hold and its target price was set at $53 (versus a $46.42 prior close) at Deutsche Bank. The stock had a $42.93 consensus target price.
Clipper Realty Inc. (NYSE: CLPR) was named as the Zacks Bear of the Day stock. The firm said that this stock has a metric that will make value investors take a much deeper look. Shares last closed at $5.86 and have a consensus price target of $13.00.
CrowdStrike Holdings Inc. (NASDAQ: CRWD) was raised to Outperform from Neutral with a $155 target price at Robert W. Baird. Shares closed down 2.4% at $123.50 but were indicated up 3.6% at $128.00 on Wednesday. The prior consensus target price was $159.57.
Datadog Inc. (NASDAQ: DDOG) was down 2.4% at $92.60 a share ahead of earnings but was last seen trading down almost 8% more at $85.52. Even though it beat earnings and guidance was strong, the valuation at 46 times expected 2020 sales is weighing on the stock. Needham reiterated its Buy rating and raised its price target to $109 from $106. JPMorgan downgraded it from Overweight to Neutral with a $90 target price. Morgan Stanley maintained its Equal Weight rating and raised its target to $86 from $80.
Devon Energy Corp. (NYSE: DVN) was reiterated as Outperform and its target price was raised to $15 from $13 (versus an $11.76 prior close) at Raymond James. It had a $15.92 consensus target price ahead of the close, and the stock is up nearly 20% so far this week alone.
D.R. Horton Inc. (NYSE: DHI) was raised to Positive from Neutral at Susquehanna.
Easterly Government Properties Inc. (NYSE: DEA) was downgraded to Sector Perform from Outperform at RBC Capital Markets.