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Top Analyst Upgrades and Downgrades: AMD, Amgen, DexCom, eBay, FireEye, Kraft Heinz, 3M, Pfizer, Seagate, Sonos, Starbucks, T-Mobile and More
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Stocks had seen some profit taking on Tuesday, but the indexes were all marginally higher on Wednesday. This week is the thickest patch of earnings and on Wednesday is also the Federal Open Market Committee announcement and the day of technology company hearings in Washington, D.C. 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. And with an election coming up, and 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 Wednesday, July 29, 2020.
Advanced Micro Devices Inc. (NASDAQ: AMD) was down almost 2% at $67.61 ahead of earnings but was last seen up 11% at $75.40 on Wednesday morning. Wedbush Securities reiterated its Outperform rating and raised its target to $85 from $75, and Susquehanna raised AMD to Positive from Neutral. Morgan Stanley maintained its Equal Weight rating but raised its target to $73 from $56.
Amgen Inc. (NASDAQ: AMGN) was maintained as Overweight but its price target was cut to $281 from $285 at Morgan Stanley.
Bill.com Holdings Inc. (NYSE: BILL) was started as Outperform with a $103 target price (versus an $85.10 prior close) at Oppenheimer.
Brookfield Infrastructure Partners L.P. (NYSE: BIP) was downgraded to Underperform from Neutral at Credit Suisse
DexCom Inc. (NASDAQ: DXCM) was reiterated as Outperform and its target price was raised to $485 from $465 at SVB Leerink, and Morgan Stanley reiterated its Equal Weight rating but raised its target to $428 from $377. Shares were last seen up almost 2% at $426.00 after earnings.
eBay Inc. (NASDAQ: EBAY) was down 1.5% at $56.35 ahead of earnings and was last seen down 2.5% at $54.95 on post-earnings profit-taking. Barclays reiterated eBay as Overweight and raised its price target to $82 from $77. Morgan Stanley reiterated its Equal Weight rating but raised its target from $62 to $64.
FireEye Inc. (NASDAQ: FEYE) was up 1.1% at $13.38 ahead of earnings but was last seen trading up over 13% at $15.20 on Wednesday’s post-earnings reaction. Barclays reiterated it as Equal Weight but raised its price target to $17 from $12. Wedbush maintained its Neutral rating but raised its target to $15 from $12. The consensus target price was $13.87.
Flexion Therapeutics Inc. (NASDAQ: FLXN) was started as Outperform with a $19 target price (versus a $12.49 close) at Credit Suisse.
24/7 Wall St.Kraft Heinz Co. (NASDAQ: KHC) was upgraded to Overweight from Neutral and its target was raised to $39 from $30 at Piper Sandler. Shares closed up 1.2% at $35.25 on Tuesday and were indicated up about 0.6% at $35.45 on Wednesday. Its consensus target price was $33.32.
National CineMedia Inc. (NASDAQ: NCMI) was downgraded to Neutral from Outperform at Wedbush.
NeoGenomics Inc. (NASDAQ: NEO) was reiterated as Buy and its price target was raised to $39 from $33 (versus a $35.80 close, after a 2.7% drop) at Needham.
Papa John’s International Inc. (NASDAQ: PZZA) was reiterated as Outperform and its price target was raised to $105 from $95 at Wedbush.
Pfizer Inc. (NYSE: PFE) was up 3.9% at $39.02 after earnings on Tuesday and Wednesday’s indication was up 1.1% at $39.42. SVB Leerink maintained Pfizer as Market Perform but raised its target to $42 from $39.
Quest Diagnostics Inc. (NYSE: DGX) was raised to Overweight from Sector Weight with a $144 price target (versus a $123.46 close) at KeyBanc Capital Markets.
Seagate Technology PLC (NASDAQ: STX) was down 2% at $48.57 ahead of earnings and was last seen down another 8% at $44.60 afterward. Benchmark downgraded it to Hold from Buy.
Sonos Inc. (NASDAQ: SONO) was downgraded to Market Perform from Strong Buy at Raymond James.
Starbucks Corp. (NASDAQ: SBUX) was down over 2% at $74.64 ahead of earnings, but the stock was last seen up over 5% at $78.50 because its metrics were better than expected, despite all of its numbers being down sharply. Barclays reiterated it as Overweight and raised its target price to $94 from $88. Wedbush maintained its Neutral rating but raised its target from $75 to $81.
Tanger Factory Outlet Centers Inc. (NYSE: SKT) was named as the Zacks Bear of the Day stock. The firm said that it is tough times for this shopping center real estate investment trust. Shares last closed at $6.87 and have a consensus price target of $5.89.
3M Co. (NYSE: MMM) closed down almost 5% at $155.33 on Tuesday after earnings. Barclays maintained it as Underweight but lowered its target price to $157 from $156. Morgan Stanley maintained its Equal Weight rating but raised its target to $166 from $160.
T-Mobile US Inc. (NASDAQ: TMUS) was started as Buy with a $140 target price (versus a $104.52 close) at Deutsche Bank. RBC Capital Markets lowered its rating to Sector Perform from Outperform.
Tractor Supply Co. (NASDAQ: TSCO) was named as the Bull of the Day at Zacks, which said that this rural retailer just had its best quarter in company history. Shares most recently closed at $143.07 and have a consensus price target of $154.18.
Tuesday’s top analyst upgrades and downgrades included Advanced Micro Devices, Beyond Meat, Bristol-Myers Squibb, Carvana, CRISPR Therapeutics, FirstEnergy, Peloton Interactive, Shopify, Tesla, Uber, Visa and more.
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