Top Analyst Upgrades and Downgrades: AMD, Adobe, Chevron, Chipotle, DuPont, Intel, Penn National Gaming and More

Investing

Published: January 14, 2021 9:00 am

Last Updated: January 14, 2021 9:08 am

The futures were higher Thursday morning as investors contemplated yet another impeachment of the U.S. president and continued to brace for what will be a tsunami of fourth-quarter earnings reports. Those will be kicked off in a big way tomorrow when some of the leading money center banks are due to report. With all the major indexes and the Russell 2000 still trading close to all-time highs, it makes sense for investors to start building some cash reserves while repositioning portfolios for 2021 as a pullback could be in the offing.

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, January 14, 2021.

Advanced Micro Devices Inc. (NYSE: AMD) was downgraded to Underperform from Market Perform at BMO Capital Markets, which also dropped the target price on the chip leader to $75. The Wall Street consensus target is $92.37, and Wednesday’s final trade was $91.78, down almost 4% on the day.

Adobe Inc. (NASDAQ: ADBE) was resumed in coverage at Stifel with a Buy rating and a $550 target. The consensus price objective is higher at $565.20. Wednesday’s closing trade came in at $472.05.

BJ’s Wholesale Club Holdings Inc. (NYSE: BJ) was named as the Bull of the Day at Zacks, which pointed out that this wholesale retailer successfully expanded its market share last year, giving top-tier competitors a run for their money. Shares most recently closed at $38.22, well below the consensus price target of $51.37.

Boyd Gaming Corp. (NYSE: BYD) was started at KeyBanc Capital Markets with an Overweight rating and a $58 target price. The posted consensus target is $44.20. The shares closed Wednesday at $48.08.

Chevron Corp. (NYSE: CVX) was raised to Buy from Hold at HSBC Securities. The analysts also lifted the price target on the integrated energy giant to $105. The consensus target is $103.14, and Wednesday’s closing print was at $93.25.

Chipotle Mexican Grill Inc. (NYSE: CMG) was raised to Outperform from Sector Perform at RBC Capital Markets, which also boosted the target price on the restaurant behemoth to a stunning $1,650. The consensus target is $1,448.62. The stock was last seen Wednesday at $1,395 a share.

Comerica Inc. (NYSE: CMA) was upgraded at Raymond James from Market Perform to Outperform with a $71 price objective. The consensus target is $59.03. The shares closed Wednesday at $63.68.

DuPont de Nemours Inc. (NYSE: DD) was downgraded from Buy to Sell with a $76 target at DZ Bank, while JPMorgan downgraded it from Overweight to Neutral with a $70 target, and it removed the stock from the firm’s Analyst Focus List. The consensus target is $75.74. The last trade on Wednesday was reported at $83.49, down almost 4% on the day. The stock was lower in Thursday’s premarket.