Stocks surged this week as the presidential transition process has begun, but stocks were seeing some pre-Thanksgiving profit-taking on Wednesday ahead of a very short rest of the week. Investors have been trying to factor in what the post-election and post-coronavirus markets and economy will look like in 2021, and so far they are deciding it is safe to have a risk-on view. Now is the time for investors to start planning how to 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 Wednesday, November 25, 2020.
Analog Devices Inc. (NASDAQ: ADI) was reiterated as Buy and its price target was raised to $164 from $136 (versus a $136.89 prior close) at Truist Securities. Raymond James reiterated its Outperform rating and raised its target price to $160 from $140.
AngioDynamics Inc. (NASDAQ: ANGO) was raised from Market Perform to Strong Buy with an $18 price target (versus a $13.03 close) at Raymond James.
Apple Inc. (NASDAQ: AAPL) was reiterated as Outperform with a $150 price target (versus a $115.17 close) at Wedbush Securities. While this is the same target, the analyst has started to see a surge of consumer demand for AirPods Pro at a pace of selling over 90 million units in 2020, and that it is on a trajectory to potentially reach 115 million units in 2021.
Best Buy Co. Inc. (NYSE: BBY) was reiterated as Outperform and its price target was raised to $135 from $130 at Wedbush Securities. The stock closed down almost 7% at $113.54 a share after earnings on Tuesday, and it had a $121.77 consensus target price ahead of the call.
Danaher Corp. (NYSE: DHR) was downgraded to Sector Perform from Outperform and its target price was cut to $234 from $273 at RBC Capital Markets. Shares closed down 1.3% at $218.26, and they had a $261.31 consensus target price ahead of the call.
Dell Technologies Inc. (NYSE: DELL) was reiterated as Buy and its price target was raised to $85 from $80 at UBS, and Raymond James reiterated its Outperform rating and raised its target to $85 from $69. The stock closed up 1.3% at $70.33 per share on Tuesday and was indicated up another 0.5% at $70.75 after earnings.
Dollar Tree Inc. (NASDAQ: DLTR) shares were up 14% at $111.35 after earnings on Tuesday, with a $115.05 consensus target price. KeyBanc Capital Markets reiterated its Overweight rating and raised its price target to $125 from $110. UBS reiterated it as a Buy and raised its target price to $126 from $115.
ExOne Co. (NASDAQ: XONE) was started with an Outperform rating and a $13 price target at Oppenheimer. The stock closed down 2.6% at $10.73 a share and was indicated up 6.2% at $11.40 on Wednesday. It had a $13.38 consensus target price.