Stocks have been selling off this week, and the equity indexes were indicated down about 1% on Thursday. Investors are generally dealing with bad news on earnings and in the economic reports, but until this week the market had been in a steady recovery since the panic-selling lows of March. Some investors are considering new ideas to decide how to be best positioned ahead of summer and for the rest of 2020.

24/7 Wall St. reviews dozens of analyst research reports each day of the week. Our goal is to find new ideas for long-term investors and short-term traders alike. Some analyst reports cover stocks to buy, and some cover stocks to sell or to avoid.

Analysts are still making many upgrades, downgrades, reiterations and initiations ahead of and after key earnings reports. While many analysts are still cutting price targets and earnings estimates for the coming quarters and the year, many are still maintaining their prior official ratings.

Remember, no single analyst report should be used as a sole basis for any buying or selling decision. Consensus analyst target prices are from Refinitiv.

These are the top analyst calls seen on Thursday, May 14, 2020.

Adobe Inc. (NASDAQ: ADBE) was downgraded to Hold from Buy at DZ Bank. Shares closed down 1.8% at $358.56 on Wednesday, with a $339.58 consensus price target.

Allogene Therapeutics Inc. (NASDAQ: ALLO) was downgraded to Hold from Buy with a $32 price target (versus a $30.98 prior close) at SunTrust Robinson Humphrey. The firm noted that that valuation may be outpacing the progress of the research and development ahead of ASCO.

Baker Hughes Co. (NYSE: BKR) as reiterated as Equal Weight and its price target was raised to $17 from $14 (versus a $13.61 close, after a 6.6% drop) at Barclays.

Best Buy Co. Inc. (NYSE: BBY) was raised to Outperform from In-Line at Evercore ISI. Shares closed down 2.6% at $75.03 on Wednesday, with an $80.22 prior consensus price target.

Cisco Systems Inc. (NASDAQ: CSCO) was down almost 3% at $41.95 ahead of earnings but was up almost 2% at $42.75 afterward. Nomura Instinet reiterated its Neutral rating but raised its price target to $46 from $43. Morgan Stanley reiterated Cisco as Equal Weight and raised its price target to $46 from $43, and Raymond James reiterated its Outperform rating and raised its price target to $49 from $48. Barclays reiterated its Overweight rating and raised its price target to $50 from $48, while UBS maintained its Buy rating but trimmed its price target to $51 from $54.

CyberArk Software Ltd. (NASDAQ: CYBR) closed down 125 at $96.36 on Wednesday after earnings. Barclays reiterated it as Equal Weight and raised its price target to $109 from $98. Mizuho maintained its Buy rating but cut its price target to $117 from $120. UBS maintained its Buy rating but cut its price target to $94 from $104.

DexCom Inc. (NASDAQ: DXCM) was started with an Equal Weight rating and a $420 price target (versus a $407.20 close) at Wells Fargo.

Eaton Corp. (NYSE: ETN) was downgraded to Sector Weight from Overweight at KeyBanc Capital Markets.

Eidos Therapeutics Inc. (NASDAQ: EIDX) was downgraded to Neutral from Overweight at JPMorgan. Shares closed at $41.12 and had a $59.25 consensus price target.

Enphase Energy Inc. (NASDAQ: ENPH) was downgraded to Neutral from Buy but its price target was raised to $57 from $50 (versus a $57.47 close) at Goldman Sachs.

Exelixis Inc. (NASDAQ: EXEL) was reiterated as Buy and its price target was raised to $40 from $35 (versus a $26.53 close) at SunTrust Robinson Humphrey.

Grubhub Inc. (NYSE: GRUB) was reiterated as Equal Weight but its price target was raised to $49 from $46 (versus a $58.14 close) at Morgan Stanley. The consensus target price was $44.14.

GW Pharmaceuticals PLC (NASDAQ: GWPH) was reiterated as Overweight and its price target was raised to $154 from $120 (versus a $110.56 close) at Cantor Fitzgerald. It had a $184 consensus price target.

Halliburton Co. (NYSE: HAL) was reiterated as Equal Weight and its price target was raised to $8 from $7 (versus a $9.54 close) at Barclays.

Jumia Technologies A.G. (NYSE: JMIA) was downgraded to Hold from Buy and its price target was cut to $4.50 from $8 at Stifel. Shares closed down 19% at $4.21 on Wednesday and were indicated down 5% at $3.99 on Thursday.

Lowe’s Companies Inc. (NYSE: LOW) was downgraded to In-Line from Outperform at Evercore ISI. The stock closed down 0.7% at $110.43, and its consensus price target was $116.56.

McCormick & Co. (NYSE: MKC) was raised to Outperform from Neutral at Credit Suisse.

Medtronic PLC (NYSE: MDT) was downgraded to Hold from Buy at DZ Bank.

National Oilwell Varco Inc. (NYSE: NOV) was downgraded to Equal Weight from Overweight at Barclays.

Otis Worldwide Corp. (NYSE: OTIS) was started as Neutral at Credit Suisse.

Pluralsight Inc. (NASDAQ: PS) was named as the Bull of the Day at Zacks, which said that growth investors will love the stock but that doesn’t mean it is for everyone. Shares most recently closed at $17.97 and have a consensus price target of $20.30.

SmileDirectClub Inc. (NASDAQ: SDC) was downgraded to Underperform from Buy and its price objective was lowered to $7 from $10 at BofA Securities. The stock closed down 4.5% 7.72, and its consensus price target was $10.65.

Stanley Black & Decker Inc. (NYSE: SWK) was named as the Zacks Bear of the Day stock. The firm said that despite a recent beat, estimates are falling for this stock and they are falling in a big way. Shares last closed at $102.39, with a consensus price target of $140.93.

Trane Technologies PLC (NYSE: TT) was downgraded to Market Perform from Outperform at Cowen, and KeyBanc Capital Markets downgraded it to Sector Weight from Overweight. The stock closed at $76.65, with a $102 consensus price target and a 52-week trading range of $70.00 to $132.42.

Under Armour Inc. (NYSE: UAA) was maintained as Buy but its price target was lowered to $10 from $15 at Citigroup. Shares closed down over 9% at $7.79 on Wednesday, with a $12.00 consensus price target.

United Rentals Inc. (NYSE: URI) was raised to Buy from Neutral with a $136 price target (versus a $108.77 close) at UBS.

Urban Outfitters Inc. (NASDAQ: URBN) was maintained as Equal Weight but its price target was lowered to $16 from $25 (versus a $15.75 close, after a 4.4% drop) at Barclays. It had a $19.81 consensus price target.

VMware Inc. (NYSE: VMW) was downgraded to Hold from Buy with a $135 price target (versus a $134.86 close) at Jefferies.

Wayfair Inc. (NYSE: W) was downgraded to In-Line from Outperform at Evercore. Shares closed at $183.58 on Wednesday.

Wendy’s Co. (NASDAQ: WEN) was upgraded to Outperform from In Line and its price target was raised to $25 from $22 (versus a $19.88 close, after a 4.3% drop) at Evercore ISI.

Zillow Group Inc. (NASDAQ: ZG) was reiterated as Neutral but its price target was raised to $55 from $44 at Citigroup. The stock was down about 4.7% at $46.25 on Wednesday on news of a $1 billion capital raise, and it was indicated down 3.5% at $44.60 on Thursday.

Wednesday’s top analyst upgrades and downgrades included Bluebird Bio, Ciena, CommVault Systems, Dollar General, JD.com, Kroger, Nucor, Target, Walmart and more.

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