Stocks hit new all-time highs before recent days brought weakness around the coronavirus, which has now escalated into an international health emergency (WHO declaration). Stocks managed to recoup most of Thursday’s earlier losses to close up on the day, after having been down sharply at the open. The Dow Jones industrials and S&P 500 were indicated to open down about 0.4% or so on Friday.

Many investors still have not made portfolio changes since the very strong market in 2019. This is also an election year in which much is at stake, and strategists overall are calling for single-digit percentage gains in 2020.

24/7 Wall St. reviews dozens of analyst research reports each day of the week with a goal of finding new ideas for traders and long-term investors alike. Some of the daily analyst calls cover stocks to buy, while some calls cover stocks to sell or to avoid.

We have provided these analyst calls in a quick-hit summary for easy reading, and additional comments and trading data have been added on many of the calls. The consensus analyst price targets and other valuation metrics are from the Refinitiv sell-side research service.

Just like that, the end of the first month of 2020 is here. These are the top analyst upgrades, downgrades and initiations from Friday, January 31, 2020.

AGNC Investment Corp. (NASDAQ: AGNC) was down 1.3% at $18.50 right before Thursday’s closing bell, with a consensus target price of $17.61. Wedbush Securities reiterated its Neutral rating and raised its target price to $19.25 from $18.25, based on higher tangible book value and better dividend coverage.

Amazon.com Inc. (NASDAQ: AMZN) closed up 0.7% at $1,870.68 ahead of earnings, and Friday’s post-earnings reaction had shares trading up over 10% at $2,065.00 in early indications. Amazon already had seen many analysts hike their price targets ahead of the report, and its consensus target price was $2,191.96. The company is now the fourth tech giant in the $1 trillion market cap club.

KeyBanc reiterated its Overweight rating on Amazon and raised its target price to $2,400 from $2,200. Raymond James reiterated it as Outperform and raised its target price to $2,400 from $2,020. Wells Fargo reiterated its Overweight rating and raised its target to $2,500 from $2,300. Credit Suisse reiterated its Outperform rating and raised its target to $2,400 from $2,100. Mizuho reiterated it as Buy and raised its target to $2,400 from $2,150. Goldman Sachs reiterated its Buy rating and raised its target to $2,600 from $2,200. Other firms have raised target prices as well.

Amgen Inc. (NASDAQ: AMGN) closed down 0.4% at $226.15 ahead of earnings and was last seen trading down 2.9% at $219.50 in the post-earnings reaction, compared with a prior $245.50 consensus target price. Robert W. Baird downgraded it to Underperform from Neutral but lifted its target price to $185 from $173.

Beazer Homes USA (NYSE: BZH) was downgraded to Neutral from Outperform with a $16 target price (versus a $17.21 prior close) at Wedbush, with the valuation downgrade taking place after its price target was achieved.

Coca-Cola Co. (NYSE: KO) was up 3.2% at $58.86 on Thursday’s post-earnings reaction, with a $60.29 consensus analyst target. UBS reiterated its Buy rating and raised its target price to $65 from $63.

Danaher Corp. (NYSE: DHR) was reiterated as Buy and its target price was raised to $195 from $180 (versus a $169.05 close) at Citigroup.

Electronic Arts Inc. (NASDAQ: EA) traded down 0.5% at $111.64 before earnings, and the post-earnings reaction had shares down another 1.7% at $109.75. EA had a $115.31 consensus target price. Wedbush reiterated it as Outperform with a $135 target price. UBS reiterated its Buy and raised its target to $126 from $122, while Nomura/Instinet reiterated its Buy rating and raised its target to $120 from $110.

Global Blood Therapeutics Inc. (NYSE: GBT) was downgraded to Hold from Buy with a $75 target price (versus a $67.98 close) at SunTrust Robinson Humphrey.

International Business Machines Corp. (NYSE: IBM) finally named a new CEO, Arvind Krishna (head of the strategic imperatives), with Rometty to stay as board chair. IBM shares initially rose more than 4% to $143, after closing at $136.77 on Thursday. Nomura/Instinet reiterated IBM as a Buy with a $170 target price.

Jazz Pharmaceuticals PLC (NASDAQ: JAZZ) was reiterated as Buy and the target price was raised to $171 from $166 (versus a $145.29 close) at SunTrust Robinson Humphrey. The firm believes its small-cell lung cancer could be approved in the second half of this year and that lurbinectedin has significant market potential.

KB Home (NYSE: KBH) was named as the Bull of the Day at Zacks, which said that the stock is in the midst of a stellar year. Shares most recently closed at $38.02, with a consensus price target of $40.00.

Kirby Corp. (NYSE: KEX) closed down 8.3% at $77.71 on Thursday after it missed earnings expectations. Stifel and Jefferies each downgraded it to Hold from Buy. Merrill Lynch downgraded it to Neutral from Buy.

Miragen Therapeutics Inc. (NASDAQ: MGEN) was up 20% at $2.04 on Thursday with a 20-times volume spike after positive news of greatly increasing certain cancer survival times. Wedbush sent out a note shortly before Thursday’s closing bell with a $1.96 reference price, maintaining its Outperform rating and raising its target to $10 from $8 in the call. The 52-week trading range is $0.44 to $3.80, and the market cap was just $70 million late on Thursday. Shares were indicated down 4% at $1.96 on Friday morning.

National Beverage Corp. (NASDAQ: FIZZ) was named as the Zacks Bear of the Day stock. The firm said that this company has become a victim of its own success. Shares last closed at $44.01 and have a consensus price target of $46.50.

Nucor Corp. (NYSE: NUE) was downgraded to Neutral from Buy and its target price was lowered to $55 from $60 (versus a $48.86 close) at Goldman Sachs. The stock is down from a 52-week high of $62.31, and its consensus target price was $56.92.

Proofpoint Inc. (NASDAQ: PFPT) closed down 1.6% at $125.89 ahead of earnings, with a $142.04 consensus target price. Citigroup reiterated it as Buy and raised its target to $153 from $143. Wedbush reiterated its Outperform rating and $150 target price.

ResMed Inc. (NYSE: RMD) was downgraded to Neutral from Buy at UBS, but its target price was raised to $175 from $150. It closed down 0.2% at $165.44 on Thursday, with a $147.75 consensus target price.

Sherwin-Williams Co. (NYSE: SHW) was downgraded to Equal Weight from Overweight and the target price was lowered to $600 from $650 (versus a $568.90 close) at Wells Fargo. UBS reiterated its Neutral rating and raised its target price to $580 from $570. Shares closed down 3.6% on Thursday, with a consensus target price of $620.81.

Smartsheet Inc. (NYSE: SMAR) closed up 3.4% at $49.08 with a $52.31 consensus target price of Thursday. BMO Capital Markets started it as Outperform with a $57 target price.

Sprint Corp. (NYSE: S) was reiterated as Neutral but the target price was lowered to $5.50 from $8.00 (versus a $4.46 close) at Citigroup.

Thermo Fisher Scientific Inc. (NYSE: TMO) was down 4.2% at $319.86 on Thursday’s post-earnings reaction with a $348.35 consensus target price. Citigroup reiterated its Buy rating and raised its target price to $390 from $380, with the firm noting that Thursday’s sell-off brought a buying opportunity as the report was solid outside of excessive upside expectations.

Uber Technologies Inc. (NYSE: UBER) was started as Overweight with a $51 target price at JPMorgan. Uber was down 0.8% at $36.68 on Thursday and was indicated up 0.8% at $37.00 on Friday, with a prior consensus target price of $44.83.

United Parcel Service Inc. (NYSE: UPS) was down 6.7% at $108.00 on Thursday, with a $125.21 consensus target price. Raymond James maintained it as Strong Buy and lowered its target price to $135 from $140. UBS also reiterated its Buy rating but the firm trimmed its target price to $130 from $134.

Valley National Bancorp. (NYSE: VLY) was reiterated as Neutral with an $11 target price (versus a $10.65 close) at Wedbush.

Vertex Pharmaceuticals Inc. (NASDAQ: VRTX) was downgraded to Neutral from Outperform at Robert W. Baird, but the firm raised its target price to $230 from $210. Shares closed down 0.9% at $230.21 ahead of earnings and were trading up about 3.8% at $239.00 Friday morning.

Visa Inc. (NYSE: V) was trading up over 1.6% at $208.21 ahead of earnings, and the post-earnings indication was down 2.5% at $202.90 Friday morning. Wedbush reiterated it as Outperform with a $215 target price (versus a $208.21 close).

Vivint Smart Home Inc. (NYSE: VVNT) was downgraded to Neutral from Overweight at JPMorgan, just four days after the firm started it with a $15 target price. In that short time, shares have risen from under $12 to over $19, but the stock was down 7.2% at $18.00 Friday morning.

Thursday’s top analyst upgrades and downgrades included Alphabet, Apple, AT&T, Biogen, Carnival, CSX, Dow, Facebook, McDonald’s, Microsoft and Tesla.

Get Our Free Investment Newsletter

I have read, and agree to the Terms of Use

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.