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Tuesday's Top Analyst Upgrades and Downgrades: Adobe, Apple, Dell, DraftKings, Exxon, Microsoft, Qualcomm and More

The futures were mixed on Tuesday, after investors and traders kicked off November with all three of the major indexes once again posting all-time highs. Market pundits continue to cite the very strong third-quarter earnings as the major reason for the continued strength, but some across Wall Street also have noted the possible easing of the supply-chain issues, and a sharp drop in COVID-19 cases. The big focus this week will remain the October nonfarm payroll report scheduled for Friday.

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, November 2, 2021.

Adobe Inc. (NASDAQ: ADBE): Deutsche Bank started coverage with a Buy rating and a $770 price target. The consensus target for the legacy technology giant is $703.92. The stock closed trading on Monday at $640.20.

Alcoa Corp. (NYSE: AA): Jefferies upgraded shares of the aluminum leader to Buy from Hold and lifted the $52 target price to $60. The consensus target is $57.75. The last trade for Monday hit the tape at $46.73.

Apple Inc. (NASDAQ: AAPL): Goldman Sachs reiterated a Neutral rating on the technology giant and has a $142 price target. The analyst cited Apple’s weak quarter with revenue guidance commentary consistent with the firm’s model. The consensus price target is $169.06. The final trade for Monday came in at $148.96.

Dell Technologies Inc. (NYSE: DELL): Barclays resumed coverage with an Equal Weight rating and a $59 price target. The consensus target is up at $118.99. The final trade on Monday hit the tape at $111.51.

Discover Financial Services Inc. (NYSE: DFS): Seaport Research Partners upgraded the stock to Buy from Neutral and has a $138 price target. The consensus target is $141.39. The shares closed on Monday at $114.66.