The futures were decidedly mixed Wednesday morning, as investors were treated to a solid snap-back rally Tuesday. While many eyes are focused on the Senate race outcomes in Georgia, it is a good bet that for the markets 2021 could resemble last year, as many of the same tailwinds like stimulus and low interest rates remain on the table.
Investors should be reviewing portfolios very closely now and making adjustments in positioning for the first quarter and the balance of 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 Wednesday, January 6, 2021.
Accenture PLC (NYSE: ACN) was raised at BofA Securities from Underperform to Neutral with a $261 price target. That compares with the Wall Street consensus target of $279.56 and a Tuesday closing print of $257.92.
Alteryx Inc. (NYSE: AYX) was named as the Zacks Bear of the Day stock. The firm said that, with a volatile earnings record, investors might want to shy away from this stock until it proves itself more consistent. Shares last closed at $112.84 and have a consensus price target of $146.21.
Arista Networks Inc. (NASDAQ: ANET) was raised at Credit Suisse from Neutral to Outperform with a $351 price target. The consensus target is $275.64, and Tuesday’s close was $286.01 a share.
Barrick Gold Corp. (NYSE: GOLD) was upgraded to Overweight from Equal Weight at Baird, which also lifted the price target on the gold mining giant to $28. The consensus target is up at $35. The shares were last seen on Tuesday at $24.28.
Beyond Meat Inc. (NASDAQ: BYND) was downgraded to Neutral from Overweight at Piper Sandler, which dropped the price target to $125. That compares to a $115.58 consensus target and a Tuesday close of $126.07.
Capital One Financial Corp. (NYSE: COF) was raised to Buy from Hold at Deutsche Bank. The 52-week trading range for the money center bank is $38.00 to $107.59. The posted consensus price target is $106.04, and the shares ended Tuesday trading at $100.14 apiece.
Coca-Cola Co. (NYSE: KO) was downgraded to Hold from Buy at Deutsche Bank, which dropped the price target on the beverage colossus to $55. The consensus target is $57.29. The last trade on Tuesday came in at $52.18.
Curiosity Stream Inc. (NASDAQ: CURI) was downgraded from Buy to Neutral with a $16 price target at B. Riley Securities. The consensus target is $14, and Tuesday’s closing price was $16.74 a share.
Edison International (NYSE: EIX) was raised to Overweight from Equal Weight at Wells Fargo, which also lifted the price target on the utility to $71. The consensus target is $69.38. The stock closed on Tuesday at $60.81.
Freshpet Inc. (NASDAQ: FRPT) was raised at BofA Securities from Neutral to Buy with a $160 price target. The consensus target is $127.58, and the final Tuesday print was at $140.33.
Hershey Co. (NYSE: HSY) was raised at BofA Securities from Neutral to Buy with a $168 price objective. That compares to the consensus target of $157.94 and a Tuesday close at $150.73.