The futures traded marginally essentially flat on Thursday, after a crazy trading day on Wall Street that saw big losses on all three major indexes and huge gains in individual stocks that have massive short interest. Top analysts on Wall Street are starting to point to “bubble” type metrics, with stunning gains in the short interest plays are an example, and many are urging caution. With fourth-quarter earnings reports continuing to stream in, most across Wall Street will not only be examining the results but looking to see what guidance for the first quarter and the rest of 2021 look like. With all the major indexes and the Russell 2000 still very close to all-time highs, it makes sense for investors to start building some cash reserves while repositioning portfolios 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 Thursday, January 28, 2021.
Abbott Laboratories (NYSE: ABT) was raised from Neutral to Buy with a $140 price target at BTIG Research. The Wall Street consensus target is $125.94. The stock closed trading on Wednesday at $114.29.
American Express Co. (NYSE: AXP) was raised to Buy from Hold at DZ Bank, which has a $130 price objective. The consensus objective for the credit card giant is $130.76. Wednesday’s final trade hit the tape at $114.09.
BJ’s Wholesale Club Holdings Inc. (NYSE: BJ) was downgraded from Buy to Hold with a $52 price target at Gordon Haskett. The consensus target is $51.37 and the close on Wednesday was at $48.81, after an almost 7% gain for the day.
Big Lots Inc. (NYSE: BIG) was downgraded to Hold from Buy at Loop Capital. The shares have traded in a 52-week range of $10.13 to $65.11 and have a consensus price target of $53. With the stock closing up almost 20% on Wednesday at $65.05, this is very possibly a valuation call.
Brinker International Inc. (NYSE: EAT) was raised from Sector Weight to Overweight with a $64 price target at KeyBanc Capital Markets. The consensus target is in line at $64.04. The close on Wednesday was at $55.28, after an almost 12% retreat on the day.
Cheesecake Factory Inc. (NASDAQ: CAKE) was downgraded to Hold from Buy at Deutsche Bank, which has a $47 target for the popular casual dining restaurant. The consensus target is $37.31, and the shares closed at $49.91, almost 9% higher just on Wednesday. Despite the downgrade, the stock was up another 4% in Thursday’s premarket trading.
Colgate-Palmolive Co. (NYSE: CL) was downgraded to Hold from Buy at Stifel, which has a $53 price target for the consumer staples leader. The consensus target is $84.60, and the shares were last seen on Wednesday at $78.03.
eBay Inc. (NASDAQ: EBAY) was downgraded at Deutsche Bank from Buy to Hold with a $59 price target. The consensus target is higher at $62.71, and the closing price on Wednesday was $58.35 a share.
Exact Sciences Corp. (NASDAQ: EXAS) was started at Truist Securities with a Buy rating and a $226 target price. The consensus target is much lower $160.80. The shares were last seen on Wednesday at $136.85.
Invesco Ltd. (NYSE: IVZ) was upgraded at UBS from Neutral to Buy with a $24 price objective. That compares with the consensus objective of $22.04 and Wednesday’s final trade at $20.78.
Kroger Co. (NYSE: KR) was downgraded to Market Perform from Outperform at Telsey Advisory Group, which has a $39 price target. The consensus target is $34.92, and the shares were last seen on Wednesday at $38.75, up almost 5% on the day.
Lam Research Corp. (NASDAQ: LRCX) was reiterated with an Outperform rating at Cowen. The firm also raised the price target on the semiconductor capital equipment giant to $585 from $575. The consensus target is $527.39. The shares pulled back almost 7% on Wednesday to close at $515.04.
PTC Inc. (NYSE: PTC) was upgraded to Outperform from Sector Perform at RBC Capital Markets, which also raised the price target to $145. The consensus target is $132.43. The last trade on Wednesday was reported at $120.83.
ServiceNow Inc. (NYSE: NOW) saw its price target raised to $590 from $575 at BMO Capital Markets, which kept its Outperform rating. The posted consensus target is $571.29. The shares closed Wednesday at $516.50, after a retreat of 3% for the day.
STMicroelectronics N.V. (NYSE: STM) was reiterated at Buy by Craig Hallum and saw its price target raised to $48 from $46. The consensus target is $41.64, and Wednesday’s closing price was $37.87, which was down almost 5%.
Tesla Inc. (NASDAQ: TSLA) was downgraded to Market Perform from Market Outperform at JPM Securities. Shares of the electric vehicle behemoth have traded in a stunning 52-week range of $70.10 to $900.40. The company posted solid results yesterday that beat on revenue but missed the earnings estimates. The stock closed Wednesday at $864.16, down just over 2%, but shares were off close to 5% in premarket action.
Twitter Inc. (NYSE: TWTR) was raised at KeyBanc Capital Markets from Sector Weight to Overweight with a $65 price target. The consensus target for the social media giant is $47.29. The stock was last seen Wednesday at $48.19.
ViacomCBS Inc. (NASDAQ: VIAC) was downgraded to Underperform from Neutral at Credit Suisse, though it raised the target price on the broadcast and programming giant to $37. The consensus target is $34.32, and Wednesday’s final print was a much higher $56, after almost an 8% gain for the day.
Weingarten Realty Investors (NYSE: WRI) was raised to Sector Outperform from Sector Perform at Scotiabank, which posted a $26 price target. The $23.59 consensus target is above Wednesday’s final trade of $22.81.
Xilinx Inc. (NASDAQ: XLNX) saw its price target raised to $153 from $120 at Cowen. The analyst noted that due to the company’s pending AMD merger, which remains on track to close by year-end, there was no forward guidance or earnings call. The posted consensus price target is $131.71, and the stock closed on Wednesday at $133.86, down almost 8% on the day.
Five top energy stocks rated Buy at BofA Securities pay solid dividends, are attractively priced and may be outstanding contrarian ideas now, despite the new administration’s initiatives on climate change.
Some analysts believe Microsoft is a screaming buy after its most recent earnings report.
Wednesday’s early top analyst upgrades and downgrades included Bed Bath & Beyond, DoorDash, DraftKings, Kohl’s, Mastercard, Texas Instruments, 3M, Ulta Beauty and Under Armour. Analyst calls made later in the day featured GameStop, PayPal, Starbucks, Visa and more.
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