Investing

Top Analyst Upgrades and Downgrades: Avaya, Dell, On Semi, Neurocrine Bio, Palo Alto, Ping, Poshmark, Switch and More

The futures traded solidly higher again on Tuesday. Investors were treated to a massive Monday snapback rally after Friday’s big losses, which ended the worst trading week for all three indexes since October. It appears that the Reddit/WallStreetBets crowd has turned their attention to the silver markets as many of the top stocks and exchange-traded funds had big days. Top analysts on Wall Street are continuing to point to “bubble” metrics. The stunning gains and losses in the short interest plays are an example, and many are urging caution.

Fourth-quarter earnings reports are slowing, but more big tech is on tap for this week. 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 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 Tuesday, February 2, 2021.

Avaya Holdings Inc. (NYSE: AVYA) saw its target price raised to $26 from $23 at Goldman Sachs, which has a Buy rating on the stock. The consensus target is $23.20. The last trade for Monday came in at $22.89, up almost 3% on the day.

Clover Health Investments Corp. (NASDAQ: CLOV) was started at Citigroup with a Buy rating and a $19 target. A consensus price target has not been set yet. The stock closed Monday at $13.81. The shares traded up almost 4% in the premarket.

CoreSite Realty Corp. (NYSE: COR) was upgraded to Outperform from Market Perform at Cowen, which also raised the price target to $152. The consensus target is $131.88. Monday’s last trade came in at $138.91, up almost 4% on the day.

Dell Technologies Inc. (NYSE: DELL) was upgraded to Buy from Neutral at Goldman Sachs, which raised the price target to $96. The posted consensus target is $80.01. The shares were last seen Monday at $73.95.

Hilltop Holdings Inc. (NYSE: HTH) was downgraded from Buy to Neutral with a $31 target at Compass Point. The consensus target is $32.40. The stock closed Monday at $30.85.

Limelight Networks Inc. (NASDAQ: LLNW) was downgraded to Market Perform from Outperform at Cowen, which lowered the price target to $4.75. The consensus target is higher at $6.69. The final trade on Monday came in at $4.68 a share.

Mimecast Ltd. (NASDAQ: MIME) was started with an Overweight rating and a $57 price objective at Stephens. The consensus estimate is $57.58. The last print for Monday came in at $44.45, up over 3% on the day.

Neurocrine Biosciences Inc. (NASDAQ: NBIX) was started as Outperform with a $163 price target at Raymond James. That compares with a much lower consensus target of $125.10. The shares were last seen Monday at $106.02, down almost 4% on the day.

Nevro Corp. (NASDAQ: NVRO) was started at Piper Sandler with an Overweight rating and a $190 price target. The consensus target is $194.42. The shares closed Monday’s trading at $163.47.