Stocks were set to make another day of profit-taking on Thursday, but a late-day recovery sent stocks up on the day. Friday’s early trading had the Dow Jones industrials and the S&P 500 both down about 0.2%, but the indexes had recovered from lower levels earlier in the morning. Investors have been trying to factor in what the markets and economy will look like post-election and post-coronavirus in 2021. Now is the time for investors to be planning how they should be invested for the coming year.
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 20, 2020.
Barrick Gold Corp. (NYSE: GOLD) was named as the Bull of the Day at Zacks, which said it has never been better for the gold miners. Shares most recently closed at $24.19 and have a consensus price target of $34.40.
DraftKings Inc. (NASDAQ: DKNG) was started with an Overweight rating and a $58 price target at Piper Sandler.
Hyatt Hotels Corp. (NYSE: H) was named as the Zacks Bear of the Day stock. The firm said hotels are looking to 2021 for brighter days. Shares last closed at $70.10 and have a consensus price target of $56.12.
Intuit Inc. (NASDAQ: INTU) was up 1.9% at $361.44 ahead of earnings, and the stock was flat on Friday morning, with a prior $361.94 consensus target price. Piper Sandler reiterated its Overweight rating and raised its target to $412 from $378, and RBC Capital Markets reiterated its Outperform rating and raised its target from $405 to $415.
Liquidia Technologies Inc. (NASDAQ: LQDA) was downgraded to Neutral from Outperform at Wedbush Securities.
Nasdaq Inc. (NASDAQ: NDAQ) was raised to Outperform from Market Perform with a $143 price target at Loop Capital. The shares closed up 1.6% at $124.76 ahead of the call, with a $143.56 consensus target price.
Nikola Corp. (NASDAQ: NKLA) was started with a Buy rating and a $35 price target at Loop Capital. The stock closed up about 3.2% at $26.23 on Thursday and has a $29.40 consensus target price.
Occidental Petroleum Corp. (NYSE: OXY) was raised to Positive from Neutral with an $18 price target (versus a $13.36 close) at Susquehanna. It had a $12.32 consensus target price ahead of the call.
Penn National Gaming Inc. (NASDAQ: PENN) was started as Overweight with an $84 target price at Piper Sandler.
Phillips 66 (NYSE: PSX) was reiterated as Outperform and its price target was raised to $75 from $60 (versus a $61.45 close) at Raymond James. It had a $68.72 consensus price target.