The futures traded smartly higher Monday morning as Wall Street starts to look toward a shortened trading week and the Thanksgiving holiday. Stocks and government bond yields slipped Friday to end a choppy week and snap a two-week winning streak. 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 Monday, November 23, 2020.
American Electric Power Co. Inc. (NYSE: AEP) was raised to Neutral from Sell at Guggenheim. The shares of the utility giant have traded in a 52-week range of $65.14 to $104.87 and have a Wall Street consensus price objective of $96.94. The last trade on Friday came in at $82.49.
CF Industries Holdings Inc. (NYSE: CF) was raised to Overweight from Equal Weight at Stephens, which also lifted the price target to $44. The consensus target is $35.58. The last trade on Friday was reported at $33.50, up over 4% on the day.
Cosan Ltd. (NYSE: CZZ) saw its price target raised to $19 from $16 at Goldman Sachs, which kept a Neutral rating on the stock. That is versus the consensus target of $19.18. The last trade on Friday was reported at $17.57.
Darden Restaurants Inc. (NYSE: DRI) was raised to Outperform from Neutral at Baird, where the price target was lifted to $132. The consensus price target is $110. The last trade on Friday came in at $108.45.
Dover Corp. (NYSE: DOV) was downgraded from Overweight to Equal Weight with a $134 price objective at Morgan Stanley. The consensus target is $129.58, and the stock was last seen trading at $123.48.
Foot Locker Inc. (NYSE: FL) saw its target price raised to $42 from $38 at Goldman Sachs, which kept a Buy rating on the stock. The consensus target is $40.83, and the closing price on Friday was $39.28.
Franklin Resources Inc. (NYSE: BEN) was downgraded to Market Perform from Outperform at Keefe Bruyette, which has a $23 price target. The consensus target for the mutual fund and investment giant is $21.11. Shares ended Friday at $20.59 apiece.
Gap Inc. (NYSE: GPS) was raised from Neutral to Overweight with a $30 price target at JPMorgan. The posted consensus target is $22.65. The stock closed Friday at $24.37 a share.
Good RX Holdings Inc. (NASDAQ: GDRX) saw its price target lowered to $44 from $49 at Goldman Sachs, which kept a Neutral rating on the shares. That compares with a much higher consensus target of $50 and a Friday close of $38.80.
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