Investing

Top Analyst Upgrades and Downgrades: Activision, Bank of America, Dollar General, DraftKings, Electronic Arts, Micron, Microsoft and More

The futures were slightly higher on Tuesday after a wild day Monday that saw some big moves in all of the major indexes, and the Nasdaq and the Russell 2000 again posting intraday and closing all-time highs. With fourth-quarter earnings reports continuing to stream in, most across Wall Street will not only be examining the results but also looking to see what guidance for the first quarter and the rest of 2021 looks like. With all of the major indexes and the Russell 2000 closing still very 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 Tuesday, January 26, 2021.

Activision Blizzard Inc. (NASDAQ: ATVI) was started at Raymond James with an Outperform rating and a $109 price target. The Wall Street consensus target is $99.25. The shares closed Monday at $93.40.

Allogene Therapeutics Inc. (NASDAQ: ALLO) was upgraded to Buy from Hold at Stifel, which also lifted the price target to $43. The higher consensus target is $49.69. The stock closed Monday at $32.98, up over 7% on the day.

Bank of America Corp. (NYSE: BAC) was raised from Neutral to Overweight with a $40 price target at Atlantic Equities. The consensus target for the ubiquitous money center bank is $35.74. The stock was last seen on Monday at $31.16.

Blackberry Ltd. (NYSE: BB) was downgraded from Sector Perform to Underperform with a $7.50 price target at RBC Capital Markets. The consensus target is $7.86. The shares exploded almost 30% higher on Monday to close at $18.03 and were up another 10% in Tuesday’s premarket trading.

Citizens Financial Services Inc. (NASDAQ: CZFS) was raised to Buy from Neutral at Janney, which has set a $63 price target. The consensus target is $52.73, and the final Monday trade came in at $55.50.

Colgate-Palmolive Co. (NYSE: CL) was raised to Hold from Sell at Berenberg. The consumer staples giant has traded in a 52-week range of $58.49 to $86.41 and has an $84.60 consensus price target. Monday’s last trade came in at $78.61.

Delek US Holdings Inc. (NYSE: DK) was downgraded to Sell from Neutral at Goldman Sachs, which dropped the price target to $16. That compares with a $17.53 consensus and Monday’s $21.35 close.

Dollar General Corp. (NYSE: DG) was raised from Hold to Buy with a $260 price objective at Loop Capital. The lower consensus target is $237.62. The last trade on Monday came in at $206.57.

Dominion Energy Inc. (NYSE: D) was raised at Wells Fargo from Equal Weight to Overweight with an $83 price target. The consensus target for the utility giant is also $83. The stock closed on Monday at $73.56.

DraftKings Inc. (NASDAQ: DKNG) was raised to Buy from Neutral at Goldman Sachs, which has a $65 price target. The consensus target is $60.67. The last trade on Monday hit the tape at $51.29. Shares were trading up almost 5% in premarket action.

Echo Global Logistics Inc. (NASDAQ: ECHO) was downgraded to Neutral from Positive at Susquehanna, which also lowered the price target to $32. The consensus target is $33.09 and the final print on Monday was at $30.53.