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Top Analyst Upgrades and Downgrades: AMD, Apple, Caterpillar, DraftKings, Ford, Nvidia, PepsiCo, Snowflake, Twitter and More

Jon C. Ogg

Published: October 12, 2020 9:11 am

Last Updated: October 12, 2020 9:26 am

Stocks posted a strong week last week, and despite no stimulus package being reached, the indexes were indicated up marginally on Monday morning. Many investors missed out on the recovery from late in March, but many of the key leadership stocks have pulled back from their highs to more attractive entry points.

24/7 Wall St. reviews dozens of analyst research reports each day of the week with a goal of finding new ideas for investors and traders alike. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock. Consensus analyst target data is from Refinitiv.

These are the top analyst upgrades, downgrades and initiations seen on Monday, October 12, 2020.

Advanced Micro Devices Inc. (NASDAQ: AMD) was started with a Hold rating and a $90 price target (versus an $83.10 prior close) at Truist Securities.

Apple Inc. (NASDAQ: AAPL) was reiterated as Outperform with a $150 price target (versus a $116.97 prior close) at Wedbush Securities ahead of this week’s iPhone 12 debut.

Arista Networks Inc. (NYSE: ANET) was downgraded to Neutral from Buy at Citigroup.

Caterpillar Inc. (NYSE: CAT) was reiterated as Underweight and the price target was raised to $120 from $111 (versus a $158.94 prior close) at Morgan Stanley.

Chipotle Mexican Grill Inc. (NYSE: CMG) was reiterated as Buy with a $1,580 price target (versus a $1,281.99 prior close) at Truist Securities.

Cisco Systems Inc. (NASDAQ: CSCO) was downgraded to Neutral from Buy at Citigroup, and its price target was lowered to $43 from $48 in the call.

Deere & Co. (NYSE: DE) was reiterated as Overweight and the price target was raised to $263 from $247 (versus a $234.81 prior close) at Morgan Stanley.

DraftKings Inc. (NASDAQ: DKNG) was started with a Hold rating and a $48 price target at Deutsche Bank. Credit Suisse started it with an Outperform rating and a $76 price target.

Ford Motor Co. (NYSE: F) was raised to Buy from Hold with a $10 price target (versus a $7.25 prior close) at Benchmark.

Hilton Worldwide Holdings Inc. (NYSE: HLT) was named as the Zacks Bear of the Day stock. The firm said that investors have been checking out of Hilton. Shares last closed at $91.37 and have a consensus price target of $88.40.

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Kroger Co. (NYSE: KR) was named as the Bull of the Day at Zacks, which said that the shift toward the stay-home economy has kept grocery stores full of profits. Shares most recently closed at $34.45 and have a consensus price target of $36.51.

Nvidia Corp. (NASDAQ: NVDA) was reiterated as Buy and its price target was raised to $623 from $550 (versus a $550.51 prior close) at Truist Securities.

NXP Semiconductors N.V. (NASDAQ: NXPI) was reiterated as Overweight and its price target was raised to $159 from $147 (versus a $141.53 prior close) at Morgan Stanley.

PepsiCo Inc. (NYSE: PEP) was raised to Buy from Neutral and its price target was raised to $169 from $148 (versus a $138.44 prior close) at Citigroup.

Pinterest Inc. (NYSE: PINS) was reiterated as Buy and its price target was raised to $55 from $43 at Deutsche Bank.

PPD Inc. (NYSE: PPD) was started as Buy with a $42 price target (versus a $36.93 prior close) at Truist Securities.

Snowflake Inc. (NYSE: SNOW) was started with a Buy rating and a $350 price (versus a $238.00 prior close) at Truist Securities. Stifel started it with a Hold rating and a $250 price target, and Mizuho started it as Buy with a $300 price target. Cowen started it with an Outperform rating and assigned a $295 price target.

Texas Roadhouse Inc. (NASDAQ: TXRH) was reiterated as Strong Buy and its price target was raised to $80 from $67.50 at Raymond James. The stock closed at $70.34 on Friday, with a $62.37 consensus price target.

Twitter Inc. (NYSE: TWTR) was raised to Buy from Hold with a $56 price target at Deutsche Bank, noting a compelling bullish case for the stock.

Xilinx Inc. (NASDAQ: XLNX) was downgraded to Neutral from Outperform at Robert W. Baird, after the 14% gain to $120.94 on the heels of the AMD buyout interest reports.

Jefferies has raised price targets on big bank stocks with high dividends, projecting a recovery beginning next year.

Friday’s top analyst upgrades and downgrades included AMD, Amazon.com, Amgen, Chevron, Exxon Mobile, General Electric, IBM, Lowe’s Companies, Marvell Technology, Rocket Companies, 3D Systems and  Zoom Communications.