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Top Analyst Upgrades and Downgrades: Apple, Best Buy, Electronic Arts, FireEye, Match, PayPal, Qualcomm, ViacomCBS and More

The futures traded slightly higher on Thursday after a mixed day Wednesday, with two of the three major indexes closing higher. Outstanding fourth-quarter results from big tech and other companies, and the hopes for yet more pandemic-related stimulus, are the wind behind the market’s back now. Top analysts on Wall Street are continuing to point to “bubble” metrics, and the stunning gains and losses in the short interest meme plays are an example, with many urging caution.

Though the flow of fourth-quarter earnings reports is slowing, most across Wall Street still will not only be examining the results but looking to see what guidance for the first quarter and the rest of 2021 looks like. With all the major indexes and the Russell 2000 near 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, February 4, 2021.

Afya Ltd. (NASDAQ: AFYA) was raised at JPMorgan from Neutral to Overweight with a $34 price target. The consensus target price is $27.34. The shares were last seen on Wednesday at $22.92.

Allegiant Travel Co. (NASDAQ: ALGT) was raised to Buy from Hold at Deutsche Bank, which has a $250 price target. The lower $203.33 consensus target is still above Wednesday’s closing print of $193.36 per share.

Apple Inc. (NASDAQ: AAPL) was named as the Bull of the Day at Zacks, which said that it is time to take another look at Apple after its record quarter. Shares most recently closed at $133.94 and have a consensus price target of $150.19.

Best Buy Co. Inc. (NYSE: BBY) was raised at BofA Securities from Neutral to Buy with a $132 price target. The consensus target for the retail giant is $121.94. The stock closed on Wednesday at $110.32.

CDW Corp. (NASDAQ: CDW) was raised at Morgan Stanley from Equal Weight to Overweight with a $164 price objective. The posted consensus figure is $144.89. The last trade for Wednesday hit the tape at $140.99.

CubeSmart (NASDAQ: CUBE) was downgraded to Underperform from Market Perform at Raymond James. Its shares have traded in a 52-week range of $19.61 to $35.79 and have a $36 consensus price target. The closing price was $35.62 on Wednesday.

Electronic Arts Inc. (NYSE: EA) was downgraded to Neutral from Overweight at Atlantic Equities, which has a $155 target price on the gaming software giant. The consensus price target is $155.65, and the shares were last seen on Wednesday at $140.82, after retreating almost 6% for the day.

Extra Space Storage Inc. (NYSE: EXR) was raised at Raymond James from Market Perform to Outperform with a $125 target price. The posted consensus target is $125.58. The stock closed trading on Wednesday at $116.01 a share.

FireEye Inc. (NASDAQ: FEYE) was raised to Buy from Neutral at BofA Securities, where the analysts have set a $28 target for the cybersecurity company. The consensus target is lower at $22. The stock closed Wednesday at $20.07, down almost 8% on the day. Shares rebounded in Thursday’s premarket close to 3%.