Stocks have surged higher in the past two trading days, and the S&P 500 has gone back above 3,000 and the Dow Jones industrials are back above 25,000. Futures were indicated to open marginally higher on Thursday as well, but with far less conviction than the prior two days. Investors have moved beyond weak earnings and are looking beyond weak economic reports, and the indexes have regained the lion’s share of the losses that had been seen in the panic selling through late March. Now many investors are puzzled about how to be positioned heading into summer and for the rest of 2020, as the market has already discounted much of the recession’s drag.

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 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 we have seen on Thursday, May 28, 2020.

Ally Financial Inc. (NYSE: ALLY) was raised to Overweight from Equal Weight at Morgan Stanley. Shares closed up 9.9% at $18.60 on Wednesday, and they had a $24.73 consensus price target.

America’s Car-Mart Inc. (NASDAQ: CRMT) was named as the Zacks Bear of the Day stock. The firm said that retail plays in general have been hit hard but automotive retail names are probably getting hit the hardest. Shares last closed at $84.66 and have a consensus price target of $92.25.

Apple Inc. (NASDAQ: AAPL) was reiterated as Overweight and its price target was raised to $365 from $350 at JPMorgan. The firm is optimistic about the iPhone SE launch for India as the lower-cost iPhone could be a big hit in emerging markets, adding up to an additional $7 billion revenue opportunity.

Autodesk Inc. (NASDAQ: ADSK) was reiterated as Buy and its price target was raised to $230 from $195 (versus a $199.81 prior close) at Canaccord Genuity. KeyBanc Capital Markets reiterated its Overweight rating and raised its price target to $223 from $210.

Axcella Health Inc. (NASDAQ: AXLA) was started as Outperform with a $28 price target (versus a $5.17 close, after a 5% drop) at Wedbush Securities. While exponential upside is being called for, the market cap is tiny at $185 million, after a $60 million capital raise, and the view is on its proprietary endogenous metabolic modulators targeting nonalcoholic steatohepatitis, overt hepatic encephalopathy, sickle cell and acute muscle atrophy.

Boston Beer Co. (NYSE: SAM) was downgraded to Neutral from Outperform at Credit Suisse. The firm’s $505 price target is under the $537.70 prior close but still above the $420.92 consensus price target.

Coupa Software Inc. (NASDAQ: COUP) was downgraded to Neutral from Outperform at Wedbush.

Credit Acceptance Corp. (NASDAQ: CACC) was reiterated as Sell and its price target was lowered to $170 from $177 at Janney.

Dick’s Sporting Goods Inc. (NYSE: DKS) was reiterated as Neutral at Wedbush, but the firm launched its price target to $33 from $22 in a pre-earnings call ahead of next week’s results. Shares closed up 5.7% at $36.46 on Wednesday, after having been under $30 a week earlier.

Docusign Inc. (NASDAQ: DOCU) was reiterated as Outperform and its price target was raised to $140 from $115 at Wedbush.

EverQuote Inc. (NASDAQ: EVER) was named as the Bull of the Day at Zacks, which said that this stock has some really big growth and margins that are headed in the right direction. Shares most recently closed at $52.12, with a consensus price target of $47.83.

Fortune Brands Home & Security Inc. (NYSE: FBHS) was started with a Neutral rating at Credit Suisse.

HP Inc. (NYSE: HPQ) was downgraded to Neutral from Overweight at JPMorgan, while Morgan Stanley maintained its Equal Weight rating and raised its target to $17 from $16.

IGM Biosciences Inc. (NASDAQ: IGMS) was started as Buy with a $86 price target (versus a $63.30 close) at SunTrust Robinson Humphrey, which noted that the company is on the way to new therapeutic antibodies.

Karuna Therapeutics Inc. (NASDAQ: KRTX) was started with a Buy rating and a $140 price target (versus an $87.97 close) at H.C. Wainwright.

Leggett & Platt Inc. (NYSE: LEG) was reiterated as Strong Buy and its target was raised to $38 from $32 (versus a $33.79 close) at Raymond James.

Masco Corp. (NYSE: MAS) was started as Outperform and a $55 price target (versus a $47.07 close) at Credit Suisse.

Owens Corning (NYSE: OC) was started as Neutral at Credit Suisse.

Qualcomm Inc. (NASDAQ: QCOM) was raised to Overweight from Sector Weight with a $105 target at KeyBanc Capital Markets. The stock closed up 1.6% at $79.29 on Wednesday, with a $90.74 consensus price target.

Ruth’s Hospitality Group Inc. (NASDAQ: RUTH) was reiterated as Outperform and its price target was raised to $11.50 from $11.00 (versus a $9.38 close) at Raymond James.

Stanley Black & Decker Inc. (NYSE: SWK) was started with a Neutral rating at Credit Suisse.

TopBuild Corp. (NYSE: BLD) was started as Outperform and its price target was set at $132 (versus a $124.79 close) at Credit Suisse.

Tyson Foods Inc. (NYSE: TSN) was downgraded to Hold from Buy at Argus.

Vornado Realty Trust (NYSE: VNO) was downgraded to Underweight from Equal Weight at Morgan Stanley.

Walt Disney Co. (NYSE: DIS) was downgraded to Underperform from In-Line and its price target was lowered to $105 from $107 at Imperial Capital.

Wednesday’s top analyst upgrades and downgrades included AMC Entertainment, Apple, Cerence, Chipotle Mexican Grill, Ciena, Dollar Tree, Freshpet, LATAM Airlines, Nio, Peloton Interactive, Ping, Tesla and Walt Disney.

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