Stocks started off December with a gain, after the Dow Jones industrials had their strongest monthly gain in November in over 30 years. The major indexes were basically flat and looking for any tipping point for direction on Thursday. Many investors have missed out on the massive recovery in stocks since the panic that was seen earlier this year. Now the election noise is quieting down and a COVID-19 vaccine is expected to be available in the coming months. Investors need 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 Thursday, December 3, 2020.
BEST Inc. (NYSE: BEST) was downgraded to Neutral from Buy at Goldman Sachs.
Commercial Metals Co. (NYSE: CMC) was downgraded to Neutral from Outperform at BNP Paribas.
CrowdStrike Holdings Inc. (NASDAQ: CRWD) was last seen trading up almost 12% at $158.75 after its earnings report, and it previously had a $162.68 consensus target price. Needham reiterated its Buy rating and raised its target price to $200 from $190.
Digital Realty Trust Inc. (NYSE: DLR) was started with a Buy rating and a $165 price target at Mizuho.
Equinix Inc. (NASDAQ: EQIX) was started with a Buy rating and an $800 price target (versus a $690.62 prior close) at Mizuho. The stock previously had an $843.91 consensus target price.
Goldman Sachs Group Inc. (NYSE: GS) was named as the Bull of the Day at Zacks, which said that this investment bank keeps finding ways to make money in all types of environments. Shares most recently closed at $237.65 and have a consensus price target of $262.03.
Hexcel Corp. (NYSE: HXL) was named as the Zacks Bear of the Day stock. The firm said that a recent rally has made the shares of this materials supplier awfully expensive. They last closed at $53.24 but have a consensus price target of just $37.89.
JPMorgan Chase & Co. (NYSE: JPM) was downgraded to Hold from Buy at Independent Research.
Kura Oncology Inc. (NASDAQ: KURA) was started with a Buy rating and a $45 price target (versus a $33.69 prior close) at Stifel.
Lyft Inc. (NASDAQ: LYFT) was reiterated as Buy and its target was raised to $50 from $41 at Needham. Wedbush Securities reiterated its Outperform rating and raised its target to $53 from $48. The stock closed up over 9.5% at $43.40 a share on Wednesday, and it had a $43.59 consensus target price.