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Top Analyst Upgrades and Downgrades: Amazon, Broadcom, Boeing, DraftKings, eBay, Electronic Arts, Hilton, iRobot, NetApp, Peloton, Tesla and More
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Futures traded lower Friday morning as investors digest a trading week that was buffeted by spikes in coronavirus cases around the nation. While higher levels of testing are partly responsible, some states are slowing reopening plans. Add in the huge “melt-up” rally move since the market lows in March, and the consolidation comes as little surprise.
Investors should be considering how they want their assets positioned ahead of the election 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 avoid.
What has happened in this past drive of the gains is that many analyst calls have included upgrades and price target hikes, but often stocks are managing to move even beyond what the ratings and expectations might have indicated.
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 Friday, June 26, 2020.
Amazon.com Inc. (NASDAQ: AMZN) saw its target price raised to a Wall Street high of $3,333 from $2,750 at Deutsche Bank. That compares to a much lower Wall Street consensus target of $2753.24. The last trade on Thursday for the technology behemoth was posted at $2754.48. Shares traded slightly higher in Friday’s premarket.
Broadcom Inc. (NASDAQ: AVGO) was raised to Outperform from In-line with a $380 price target at Evercore ISI. The consensus target price is $342.44. The last trade on Thursday was posted at $308.85.
Boeing Co. (NYSE: BA) was downgraded to Market Perform from Outperform at Bernstein, which has a $165 price target. The consensus target for the troubled aerospace giant is $174.80. Thursday’s final print came in at $174.88.
Donaldson Co. Inc. (NYSE: DCI) was started with an Overweight rating and a $60 price target at Morgan Stanley. The consensus target is $51.33. The stock closed at $44.16 on Thursday.
DraftKings Inc. (NASDAQ: DKNG) was started with a Buy rating and a $60 price objective at Rosenblatt. The consensus target is just $43.88. The stock has been on a huge run since merging with a SPAC back in the spring. The shares were last seen trading at $36.07.
eBay (NASDAQ: EBAY) was raised to Buy from Hold at Deutsche Bank, which as a $57 target price. The consensus target for the tech giant is $48.18. Thursday’s last trade came in at $49.40.
Electronic Arts Inc. (NASDAQ: EA) saw its target price raised to $150 from $135 at Needham. The consensus price objective is lower at $127.45. The analysts noted that cross-play is finally the new normal, with the company introducing cross-play across all consoles and PCs for most of its new game releases. The stock closed at $130.74.
Freshpet Inc. (NASDAQ: FRPT) was downgraded to Sell from Neutral at Citigroup, with a price target of $78. The consensus target is $77.40, and shares closed Thursday at $88.69 but traded lower in Friday’s premarket action.
Hexcel Corp. (NYSE: HXL) was started with an Outperform rating and a $52 price target at RBC Capital Markets. The consensus target is $36.86, and the stock closed on Thursday at $43.36, up close to 4% on the day.
iRobot Corp. (NASDAQ: IRBT) was downgraded to Underperform from Neutral at BofA Securities. The shares have traded in a wide 52-week range of $32.79 to $96.10. The consensus price target is $80.80, but shares closed Thursday at $82.15. Shares were down moderately in premarket action.
Inovio Pharmaceuticals Inc. (NASDAQ: INO) was downgraded to Hold from Buy at Stifel, which also raised its price target to $24, The consensus target is $16. The company recently received $71 million from the Pentagon for a coronavirus vaccine delivery device. The stock had a huge day on Thursday, closing up over 30% at $31.25. The shares were up another 5% in premarket action.
Keysight Technologies Inc. (NYSE: KEYS) was named as the Zacks Bear of the Day stock. The firm said that contraction in growth saw earnings estimates drop another 15% this month. Shares last closed at $100.39 and have a consensus price target of $117.18.
NetApp Inc. (NASDAQ: NTAP) was upgraded to Buy from Neutral at BofA Securities. The firm also raised the price objective to $55, well above the consensus target of $47.06. The stock closed Thursday at $41.83, and shares were up 3% in the premarket on the news.
NICE Ltd. (NASDAQ: NICE) was downgraded to Underweight from Neutral at JPMorgan. The analysts have a $172 price objective, well below the consensus target of $184. The final trade Thursday came in at $194.72.
Peloton Interactive Inc. (NASDAQ: PTON) saw its target price raised to $65 from $50 at Needham. The consensus target for the home exercise company is $51.68. The analysts cited indefinite strong demand for the company’s bikes because its wealthy target market will remain hesitant to return to public gyms for years. Shares closed at $58.06, up 4.5% on Thursday.
Pinterest Inc. (NYSE: PINS) was started with an Equal Weight rating and a $25 price target at Morgan Stanley. The consensus target is $21. The last trade Thursday hit the tape at $22.58.
Quidel Corp. (NASDAQ: QDEL) was named as the Bull of the Day at Zacks, which said that multiple FDA approvals for new 15-minute COVID-19 antigen tests have estimates and shares rising sharply. Shares most recently closed at $207.88 and have a consensus price target of $169.00.
Tesla Inc. (NASDAQ: TSLA) saw its price target raised to $900 from $850 at Deutsche Bank, which maintained a Hold rating on the electric vehicle and battery giant. The consensus target is $658.72, and the stock was last seen trading at $985.98. Shares were higher in Friday’s premarket.
Xilinx Inc. (NASDAQ: XLNX) was downgraded to In-line from Outperform at Evercore ISI. The shares have traded in a 52-week range of $67.88 to $133, and the consensus price target for the chip company is $97. The final trade on Thursday was reported at $93.29.
A top energy analyst has upgraded three stocks that have huge upside potential.
Thursday’s top analyst upgrades and downgrades included Ally Financial, Apple, Blackstone, Boeing, CommScope, Facebook, Redfin, SolarEdge Technologies, Splunk, Union Pacific and more.
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