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Top Analyst Upgrades and Downgrades: ADM, Beyond Meat, Bristol-Myers, Carvana, CRISPR, FirstEnergy, Peloton, Shopify, Tesla, Uber, Visa and More

Jon C. Ogg

Published: July 28, 2020 9:09 am

Last Updated: July 28, 2020 9:18 am

Stocks were up on Monday, but profit taking was seen into earnings and ahead of the Federal Reserve meeting on Tuesday. Stocks have recaptured most of their losses from the plunge-depth selling lows of March, and earnings seasons is still bringing a very mixed reaction for the main market leadership stocks. With an election coming up, and with what is still a very deep recession, investors need to be considering how they want their assets positioned for the second half of 2020 and as 2021 comes into focus.

24/7 Wall St. reviews dozens of analyst research reports each day of the week in an effort to find 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.

Remember that 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 Tuesday, July 28, 2020.

Archer Daniels Midland Co. (NYSE: ADM) was started as Buy with a $51 price target (versus a $42.13 prior close) at Seaport Global. ADM had a $47.22 prior consensus target price.

Best Buy Co. Inc. (NYSE: BBY) was named as the Bull of the Day at Zacks, which said that this electronics retailer has seen massive gains since March and offers investors a solid dividend to boot. Shares most recently closed at $97.92 and have a consensus price target of $95.97.

Beyond Meat Inc. (NASDAQ: BYND) was started as Hold with a $140 price target (versus a $126.72 close) at Canaccord Genuity. It had a $106.27 consensus target price.

Black Stone Minerals L.P. (NYSE: BSM) was reiterated as Outperform and its price target was raised to $9 from $8 (versus a $6.57 close) at Raymond James. It had an $8.88 consensus target price.

Bristol-Myers Squibb (NYSE: BMY) was started as Outperform with a $75 price target (versus a $58.05 close) at Seaport Global. Raymond James started it with an Outperform rating and a $75 price target.

CarGurus Inc. (NASDAQ: CARG) was started as Neutral with a $27 price target (versus a $25.63 close) at Piper Sandler.

Carvana Co. (NYSE: CVNA) was started as Overweight with a $211 price target (versus a $150.83 close) at Piper Sandler.

Concho Resources Inc. (NYSE: CXO) was raised to Buy from Hold and its price target was raised to $66 from $60 (versus a $52.68 close) at SunTrust Robinson Humphrey.

Cognizant Technology Solutions Corp. (NASDAQ: CTSH) was reiterated as Equal Weight but its target price was raised to $64 from $51 (versus a $63.43 close) at Morgan Stanley. It had a $61.27 consensus target price.

CRISPR Therapeutics A.G. (NASDAQ: CRSP) was up 2% at $92.12 on Monday but was indicated down just over 3% at $89.20 after earnings and a business update. Chardan reiterated its Buy but raised its target price to $100 from $72.50, and Needham reiterated its Buy rating and raised its target to $105 from $84.

FirstEnergy Corp. (NYSE: FE) was maintained as Overweight but its price target was cut to $43 from $47 (versus a $29.28 close) at Morgan Stanley.

Groupon Inc. (NASDAQ: GRPN) was named as the Zacks Bear of the Day stock. The firm said that share price and earnings estimates are heading in the wrong direction for this e-commerce stock. Shares last closed at $15.27 and have a consensus price target of $24.40.

Grubhub Inc. (NYSE: GRUB) was started as Neutral with a $75 price target (versus a $71.00 close) at Piper Sandler.

Kellogg Co. (NYSE: K) was started as Buy with a $76 price target (versus a $69.97 close) at Seaport Global.

Mastercard Inc. (NYSE: MA) was reiterated as Overweight and its target price was raised to $315 from $310 at Morgan Stanley. Mastercard closed at $308.86 ahead of the call, with a $329.88 consensus target price.

Peloton Interactive Inc. (NASDAQ: PTON) was reiterated as Overweight and its target price was raised to $74 from $70 (versus $63.68 prior close) at KeyBanc Capital Markets. The stock had a $61 consensus target price ahead of the call.

Shopify Inc. (NYSE: SHOP) was raised to Buy from Neutral with a $1,125 price target (versus a $976.93 close) at Goldman Sachs. Shares were indicated up 3% at $1,006.00, and the consensus target price was $872.50 ahead of the call.

Simply Good Foods Co. (NASDAQ: SMPL) was started as Buy with a $27 price target (versus a $24.41 close) at Seaport Global.

Tesla Inc. (NASDAQ: TSLA) was downgraded to Underperform from Market Perform at Bernstein, although the firm maintained its $900 target price in the call.

Uber Inc. (NYSE: UBER) was maintained as Overweight but its target price was cut to $44 from $47 (versus a $30.99 close) at Morgan Stanley.

Vale S.A. (NYSE: VALE) was maintained as Outperform with a $16 price target (versus an $11.91 close) at RBC Capital Markets.

Visa Inc. (NYSE: V) was reiterated as Overweight and its target price was raised to $203 from $196 at Morgan Stanley. Visa closed at $196.91 ahead of the call, with a $213.78 consensus target price.

Vocera Communications Inc. (NYSE: VCRA) was upgraded to Buy from Hold and its price target was raised to $30 from $21 (versus a $23.43 close) at Craig-Hallum.

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Monday’s top analyst upgrades and downgrades included Albermarle, Biogen, Dun & Bradstreet, eBay, First Solar, Lemonade, Morgan Stanley, Procter & Gamble, Schlumberger, Verizon Communications and more.