Stocks were hit by profit-taking on Monday, but the last day of the month still did not prevent the strongest one-month gain for the Dow Jones industrial average in three decades. The S&P 500 and the Dow were indicated about 1% higher on Tuesday, as December kicks off. Investors are having to decide how they want to be positioned heading into 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 Tuesday, December 1, 2020.
BioNTech S.E. (NASDAQ: BNTX) was downgraded to Neutral from Buy at BofA Securities. Its shares closed up almost 13% at $124.24 apiece on Monday and have a $105.77 consensus target price.
Booking Holdings Inc. (NASDAQ: BKNG) was started with an Underperform rating and a $1,720 price target at Bernstein. The stock closed down 1.2% at $2,028.45 a share ahead of the call, and it has a $1,952.27 consensus target price.
Capri Holdings Ltd. (NYSE: CPRI) was named the Bull of the Day with a Strong Buy rating. The luxury retailer is said to be benefiting from a surge in online sales and growth in China.
Charles Schwab Corp. (NYSE: SCHW) was raised to Overweight from Equal Weight with a $58 price target (versus a $48.78 prior close) at Wells Fargo.
CoreLogic Inc. (NYSE: CLGX) was downgraded to Hold from Buy at Truist Securities.
Edgewell Personal Care Co. (NYSE: EPC) is the Zacks Bear of the Day, with a Sell rating. The firm questions whether the consumer discretionary stock is on the right road to recovery.
FedEx Corp. (NYSE: FDX) was raised to Overweight from Equal Weight with a $360 price target at Barclays. The stock closed down 0.3% at $286.58 ahead of the call, and it has a $289.08 consensus target price.
First Solar Inc. (NASDAQ: FSLR) was downgraded to Underweight from Equal Weight at Barclays, which also set a $60 price target. The stock traded at $93.43 per share ahead of the call, and it has an $84.83 consensus target price.
Micron Technology Inc. (NASDAQ: MU) was reiterated as Buy and its price target was raised to $80 from $65 at Needham. Shares closed down 0.2% at $64.09 on Monday, with a $66.15 consensus target price.
MP Materials Corp. (NYSE: MP) was started with a Buy rating and a $25 price target at Deutsche Bank. The rare-earths materials owner of the Mountain Pass operations closed down about 0.9% at $21.52 a share ahead of the call.
Murphy USA Inc. (NYSE: MUSA) was started with a Sell rating at Goldman Sachs. The stock closed down 0.46% at $128.20 ahead of the call and has a $147.00 consensus target price.