The futures traded decidedly mixed on Tuesday following a wild Monday that saw stocks moving up and down and in and out of the red almost all day. While new COVID-19 strains in England worried investors, a fifth coronavirus stimulus bill (with $600 checks that could be in bank accounts as early as next week and additional unemployment payments through March 14) provided some support. Investors should be reviewing portfolios and adjusting positioning for 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 22, 2020.
Alliant Energy Corp. (NYSE: LNT) was started with a Market Perform rating and a $54 price target at BMO Capital Markets. The consensus target price is $59.88, and the final trade on Monday was posted at $50.34.
Champion X Corp. (NYSE: CHX) was started with a Buy rating and a $21 price target at Goldman Sachs. The consensus target is $16.85. The shares closed Monday at $13.78 but were up close to 6% in premarket action.
Chubb Ltd. (NYSE: CB) was downgraded to Underperform from Neutral at BofA Securities, which did raise the price target on the insurance giant to $138. That is below the $158.89 consensus and Monday’s closing print of $151.75.
FuboTV Inc. (NYSE: FUBO) saw its target price at Needham raised to $60 from $30. That compares with the $31.64 consensus target. The stock closed Monday at $49.48, up a stunning 26% on the day. The rally continued in Tuesday’s premarket, tacking on an additional 17% gain.
Hyatt Hotels Corp. (NYSE: H) was downgraded to Neutral from Buy at Longbow. The 52-week trading range for the legacy hotel company is $24.02 to $94.98, and the consensus price objective is $59.71. The shares were last seen trading at $72.35.
Illumina Inc. (NASDAQ: ILMN) was upgraded to Overweight from Neutral at Piper Sandler, which also raised the price target to $415. The consensus target is $311.06. The last trade on Monday was reported at $362.63.
Intuit Inc. (NASDAQ: INTU) was named as the Zacks Bear of the Day stock. The firm ponders whether falling estimates will finally stop its bull run. Shares last closed at $375.93 and have a consensus price target of $403.12.