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Top Analyst Upgrades and Downgrades: AT&T, Cognex, Disney, J&J, Keurig Dr Pepper, PayPal, Roku, Shopify, Square, Valero and More
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Stocks have managed to keep climbing from the March lows, and the market seems to have gotten over the panic selling of late February and March that turned the bull market into a bear market. While futures were trading higher again on Tuesday, some market watchers are getting worried that the market may be getting ahead of the true economic fundamentals as the country prepares to begin reopening. Energy prices keep getting weaker as well.
Many investors were caught off guard after the major snapback rally that started in late March. Investors now ought to be considering new ideas, given that the major equity indexes have recouped so much of their losses.
24/7 Wall St. reviews dozens of analyst research reports each day of the week. Our goal is to find some of those new ideas for long-term investors and short-term traders alike. Some analyst reports cover stocks to buy, and others cover stocks to sell or avoid. Consensus analyst target prices are from Refinitiv.
Analysts are still making many upgrades, downgrades, reiterations and initiations ahead of and after key earnings reports. While some are still cutting price targets and earnings estimates for the coming quarters and for the year, many are maintaining their prior official ratings. There are even many traditional upgrades and reiterations taking place as though things were close to normal. Remember that no single analyst report should be used as a sole basis for any buying or selling decision.
These are the top analyst calls tracked from Tuesday, April 28, 2020.
Acadia Realty Trust (NYSE: AKR) was started as Hold and a $13 price target (versus an $11.32 prior close) at SunTrust Robinson Humphrey. The stock has a consensus price target of $14.88, and it had an implied 10% dividend yield.
American Eagle Outfitters Inc. (NYSE: AEO) was named as the Zacks Bear of the Day stock. The firm said that like many mall-based retailers, the coronavirus pandemic is having an impact on its business and supply chain. Shares last closed at $7.79, with a consensus price target of $11.20.
American Tower Corp. (NYSE: AMT) was started as Outperform with a $308 price target (versus a $250.22 close) at Credit Suisse. It has a $262.15 consensus price target.
AT&T Inc. (NYSE: T) was maintained as Buy but the price target was lowered to $38 from $45 at Deutsche Bank. It closed up 2.8% at $30.54 on Monday, with a $34.16 consensus price target.
Cognex Corp. (NASDAQ: CGNX) was reiterated as Outperform and the price target was raised to $60 from $48 (versus a $49.84 close) at Raymond James.
Compugen Ltd. (NASDAQ: CGEN) was reiterated as Buy and the price target was raised to $22 from $16 (versus a $14.52 close) at SunTrust.
Crown Castle International Corp. (NYSE: CCI) was started as Neutral with a $149 price target (versus a $163.80 close) at Credit Suisse.
IMAX Corp. (NASDAQ: IMAX) was raised to Buy from Hold with a $14 price target at Benchmark. Shares closed up 4% at $11.08 on Monday, with an $18.17 consensus price target.
Intuitive Surgical Inc. (NASDAQ: ISRG) was downgraded to Neutral from Overweight and the price target was cut to $510 from $570 (versus a $517.10 close) at Piper Sandler.
J.M. Smucker Co. (NYSE: SJM) was named as the Bull of the Day at Zacks, which said that people stocking up on PB&J are boosting this consumer staples giant. Shares most recently closed at $120.85 and have a consensus price target of $114.08.
Johnson & Johnson (NYSE: JNJ) was downgraded to Neutral from Buy and its price target was trimmed to $160 from $163 at UBS. The stock closed at $154.29 a share, and its consensus price target was $161.89.
Keurig Dr Pepper Inc. (NYSE: KDP) was reiterated as Buy with a $30 price target (versus a $25.86 close) at SunTrust. This call comes after earnings, and shares were indicated up over 7% at $27.75, after a $25.86 prior close. The consensus price target was $28.50.
PayPal Inc. (NASDAQ: PYPL) was downgraded to Hold from Buy at DZ Bank. The stock closed up 0.3% at $120.53 ahead of the call, with a $124.64 prior consensus price target.
Phillips 66 (NYSE: PSX) was reiterated as Outperform and its price target was raised to $75 from $69 (versus a $63.49 prior close) at Raymond James.
Regeneron Pharmaceuticals Inc. (NASDAQ: REGN) was downgraded to Neutral from Buy but the price target was raised to $575 from $540 (versus a $547.52 close, after a 3.3% drop) at Citigroup.
Quest Diagnostics Inc. (NYSE: DGX) was raised to Overweight from Equal Weight and its price target was raised to $139 from $95 (versus a $116.02 close) at Morgan Stanley. It had a $104.85 consensus price target.
Roku Inc. (NASDAQ: ROKU) was downgraded to Neutral from Buy at Guggenheim. Shares closed up 3% at $128.63 ahead of the call, with a $126.90 consensus price target.
SBA Communications Corp. (NASDAQ: SBAC) was started as Outperform and a $365 price target (versus a $308.80 close) at Credit Suisse.
Shopify Inc. (NYSE: SHOP) was maintained as Neutral with a $550 price target (versus a $628.58 close) at Wedbush Securities, but the firm raises its gross merchandise value estimates as the company is winning from the new climate.
Square Inc. (NYSE: SQ) was downgraded to Sell from Neutral with a $50 price target at Compass Point.
Travelers Companies Inc. (NYSE: TRV) was maintained as Buy but the price target was lowered to $128 from $145 at Argus. Travelers closed up 2% at $102.89 on Monday, with a $114.07 consensus price target, and its shares are down from a 52-week high of $155.09.
Vail Resorts Inc. (NYSE: MTN) was reiterated as Buy and the price target was raised to $197 from $183 at Deutsche Bank. Shares closed up almost 11% at $170.78 on Monday, with a $200.09 consensus price target.
Valero Energy Corp. (NYSE: VLO) was reiterated as Outperform and its price target was raised to $64 from $60 (versus a $55.57 close) at Raymond James.
Vertex Pharmaceuticals Inc. (NASDAQ: VRTX) was downgraded to Sector Perform from Outperform but its price target was raised to $260 from $250 at RBC Capital Markets. The stock closed down 0.5% at $268.51 ahead of the call, with a $269.77 consensus price target.
Walt Disney Co. (NYSE: DIS) was started with a Sector Perform rating and a $110 price target at RBC Capital Markets. Disney closed up 4.8% at $106.06 on Monday, with a $127.63 consensus price target.
Zendesk Inc. (NYSE: ZEN) was downgraded to In-Line from Outperform and the price target was cut to $76 from $86 (versus a $73.74 close) at Evercore ISI.
Monday’s top analyst upgrades and downgrades included Amazon.com, American Airlines, American Express, Beyond Meat, Caterpillar, Clorox, eBay, Gilead Sciences, Twitter, Verizon Communications, Wayfair and more.
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