Stocks sold off on Monday over growing concerns about the spiking COVID-19 cases, Brexit woes and a slower economic recovery while the stimulus talks in Congress drag on. Though stocks were indicated to open marginally lower on Tuesday, the major indexes are still basically up against all-time highs, and the market is feeling overbought heading into year-end. Investors need to decide how they want to be positioned for the new 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 Tuesday, December 8, 2020.
AGNC Investment Corp. (NASDAQ: AGNC) was started as Overweight with a $16.50 price target (versus a $15.48 prior close) at Piper Sandler.
Cambium Networks Corp. (NASDAQ: CMBM) was named as the Bull of the Day at Zacks, which said that buyers of the dip are thanking the early investors who recently sold shares and opening up a great opportunity for investors. Shares most recently closed at $25.80, and they have a consensus price target of $25.86.
Chubb Ltd. (NYSE: CB) was upgraded to Buy from Neutral and the price target was raised to $175 from $138 at Citigroup. The stock closed down almost 2% at $152.34 a share, and it had a $154.00 consensus target price ahead of the call.
Clorox Co. (NYSE: CLX) was started with an Overweight rating and was assigned a $250 price target at Wells Fargo.
Colgate-Palmolive Co. (NYSE: CL) was started with an Underweight rating and was assigned an $80 price target at Wells Fargo.
Coca-Cola Co. (NYSE: KO) was started with an Overweight rating and was assigned a $62 price target at Wells Fargo.
Garmin Ltd. (NASDAQ: GRMN) was started with a Hold rating and was assigned a $120 target price at Deutsche Bank.
Jabil Inc. (NYSE: JBL) was downgraded to Neutral from Buy at Goldman Sachs. The stock was indicated down almost 2% at $39.99 per share on Tuesday morning.
Kimberly-Clark Corp. (NYSE: KMB) was started with an Underweight rating and was assigned a $130 price target at Wells Fargo.
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