Investing
Top Analyst Upgrades and Downgrades: Beyond Meat, Charter Communications, Comerica, Equifax, Fastly, Harley-Davidson, Netflix, Splunk, Wells Fargo and More
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The futures traded lower Friday morning as investors digested another volatile Wall Street week. The COVID-19 pandemic continues to move sentiment back and forth, as investors continue to weigh the impact for the rest of 2020. With an election coming up, and with what is still a very deep recession despite such a strong recovery in stocks from the March lows, investors should be considering how they want their assets positioned for the second half 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.
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, July 10, 2020.
Alteryx Inc. (NYSE: AYX) was named as the Bull of the Day at Zacks, which said that software has become a vital force of the pandemic economy and this little data engine just kept winning customers. Shares most recently closed at $181.98 and have a consensus price target of $151.83.
Beyond Meat Inc. (NASDAQ: BYND) was started with a Sell rating at Citigroup. Shares of the plant-based meat company have traded in a huge 52-week range from $48.18 to $239.71. The consensus price target on Wall Street is $104.48, which compares to a Thursday closing price of $141.22. Shares were down almost 3% in the premarket.
Charter Communications Inc. (NASDAQ: CHTR) was raised to a Buy from Neutral at Nomura, which also lifted the price target on the cable and communications giant to $600. The consensus price target is $566.97. The stock closed Thursday at $530.19.
Comerica Inc. (NYSE: CMA) was raised from Neutral to Outperform with a $49 price objective at Baird. The consensus target is lower at $39.10. The stock closed at $33.40, down almost 4% on the day.
Equifax Inc. (NYSE: EFX) was downgraded from Outperform to Neutral with a $175 price target at BNP Paribas. The consensus target is $172.56, and the stock closed down over 4% Thursday to $161.79.
Fastly Inc. (NYSE: FSLY) was downgraded to Underperform from Buy at BofA Securities. While the analysts raised the firm’s price target to $90 from $50 after a massive run (versus a $46.13 consensus target), they feel the valuation bakes in near-perfect execution despite lingering competitive risks. The stock closed Thursday at $102.72, after adding almost 7%. Shares were lower in Friday’s premarket.
Foot Locker Inc. (NYSE: FL) was upgraded to Positive from Neutral and the target price raised to $37 at Susquehanna. The consensus target is just $28.90, and Thursday’s last print was $27.99.
Harley-Davidson Inc. (NYSE: HOG) was raised to Sector Perform from Underperform at RBC Capital Markets. Shares of the iconic motorcycle company have traded between $14.31 at $40.89 over the past 52 weeks. The consensus price target is $26. The last trade on Thursday came in at $25.75.
Medical Properties Trust Inc. (NYSE: MPW) was downgraded from Buy to Hold with a $19 price target at Deutsche Bank. The consensus target is higher at $20.45. The stock closed most recently at $18.01.
Nabors Industries Ltd. (NYSE: NBR) was downgraded to Underperform from Sector Perform at Altacorp. The shares have traded in a very wide 52-week range of $9.79 to $167.50. The consensus target is $24.44. The last trade on Thursday hit the tape at $31.71.
Netflix Inc. (NASDAQ: NFLX) saw its target price raised from $540 to a Wall Street high of $670 at Goldman Sachs. The consensus target is $463.15. The last trade on Thursday was reported at $507.76. Shares traded up in premarket action.
Raytheon Technologies Inc. (NYSE: RTX) was raised to Buy from Hold at Vertical Research. The defense giant has traded in a 52-week range of $43.44 to $99.71. The consensus price target is $74.69, well above Thursday’s closing price of $58.11, after dropping almost 5% on the day.
Redfin Corp. (NASDAQ: RDFN) was downgraded from Outperform to Sector Perform with a $41 price objective at RBC Capital Markets. The consensus target is $31.609, and shares closed Thursday at $40.13, down almost 4%.
Shift4 Payments Inc. (NYSE: FOUR) was started with a Sell rating and a $35 price target at Compass Point. The consensus target is $43.38, and Thursday’s closing price was $44.83. Shares were down 4% in premarket action.
Splunk Inc. (NASDAQ: SPLK) was resumed in coverage with a Buy rating and a $243 price target at BTIG. The consensus price target is $184.63, and Thursday’s closing price was $204.85.
Wells Fargo & Co. (NYSE: WFC) was raised from Neutral to Outperform with a $35 price objective at Baird. The consensus price target is $29.93. The stock ended Thursday’s trading at $24.04 a share.
Zebra Technologies Corp. (NASDAQ: ZBRA) saw its price target raised to $295 from $250 at Needham. That compares to a consensus price target of $251. The shares were last seen trading at $262.01.
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Thursday’s top analyst upgrades and downgrades included Alibaba, Bank of America, Beyond Meat, Chipotle Mexican Grill, First Solar, Microsoft, Plug Power, Square, Tesla, Valero Energy and more.
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