Stocks tried to stay positive on Monday, but fading hopes of an economic stimulus bill knocked off more than 400 points from the Dow Jones industrials and an even larger percentage loss of 1.6% on the S&P 500. The stock market has become addicted to more free money, and it looks like volatility is going to head higher into the election. That said, stocks were indicated higher on Tuesday on hopes that a stimulus pact would be agreed to before the end of Tuesday.

Though many investors missed out on the recovery since late March, many 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 Tuesday, October 20, 2020.

American Electric Power Co. (NYSE: AEP) was reiterated as Overweight and its price target was raised to $106 from $99 at Morgan Stanley. The stock closed at $91.28 and had a $92.38 consensus target price ahead of the call.

Apache Corp. (NYSE: APA) was reiterated as Overweight but its price target was lowered to $20 from $22 at KeyBanc Capital Markets.

AT&T Inc. (NYSE: T) was started as Peer Perform at Wolfe Research.

Bluebird Bio Inc. (NASDAQ: BLUE) was started as Buy with a $123 price target (versus a $54.55 prior close) at Mizuho.

Consolidated Edison (NYSE: ED) was downgraded to Sell from Neutral at Goldman Sachs.

ConocoPhillips (NYSE: COP) was reiterated as Overweight but its price target was lowered to $43 from $46 at KeyBanc Capital Markets.

Corsair Gaming Inc. (NASDAQ: CRSR) was started with a Buy rating and a $25 price target (versus a $20.10 prior close) at Wedbush Securities.

Dave & Buster’s Entertainment Inc. (NASDAQ: PLAY) was raised to Outperform from Market Perform with a $26 price target at BMO Capital Markets. The stock closed up over 7% at $17.36 on Monday, and it has a $20.00 consensus price target.

eGain Corp. (NASDAQ: EGAN) was named as the Bull of the Day at Zacks, which said the firm offers a compelling story as a growth stock. Shares most recently closed at $18.97 and have a consensus price target of $18.00.

Fly Leasing Ltd. (NYSE: FLY) was named as the Zacks Bear of the Day stock. The firm said that aviation names have been grounded for some time and this company is getting some of the worst of it. Shares last closed at $7.01 and have a consensus price target of $13.17.

Fortinet Inc. (NASDAQ: FTNT) was raised to Buy from Neutral and its price target was raised to $150 from $143 (versus a $128.82 prior close) at Goldman Sachs. The stock had a $140.05 consensus target price.

Graybug Vision Inc. (NASDAQ: GRAY) was started with an Outperform rating and a $41 target price at Wedbush Securities. SVB Leerink started it with an Outperform rating and a $35 price target. The stock closed up 3.4% at $15.90 a share on Monday.

Intel Corp. (NASDAQ: INTC) managed to close up about 0.8% at $54.58 on Monday on word that it could be selling its NAND unit for close to $10 billion. Wedbush Securities was not impressed, and the firm maintained its Underperform rating and kept its $51 price target.

International Business Machines Corp. (NYSE: IBM) was indicated down 3.3% at $121.40 after earnings. Wedbush Securities reiterated its Neutral rating with a $140 price target.

Kinder Morgan Inc. (NYSE: KMI) was reiterated as Outperform but its price target was trimmed to $15 from $17 at Raymond James.

Laird Superfood Inc. (NYSE: LSF) share rose almost 9% as its quiet period ended on Monday. Canaccord Genuity started it as a Buy with a $70 price target.

Las Vegas Sands Corp. (NYSE: LVS) was reiterated as Buy but its price target was trimmed to $58 from $60 at Deutsche Bank.

New Residential Investment Corp. (NYSE: NRZ) was started as Buy with an $11 price target at Compass Point. The stock closed at $8.05 a share ahead of the call, and it has a $10.25 consensus analyst target.

NuVasive Inc. (NASDAQ: NUVA) was started with a Buy rating and $64 price target (versus a $52.40 prior close) at Stifel.

Phillips 66 (NYSE: PSX) was reiterated as Outperform but its price target was trimmed to $35 from $36 at Raymond James.

Sherwin-Williams Co. (NYSE: SHW) was reiterated as Overweight and its target price was raised to $785 from $700 at Morgan Stanley. The stock closed at $681.83 per share, and it has a $738.82 consensus target price.

Snap Inc. (NYSE: SNAP) was reiterated as Buy and its price target was raised to $33 from $30 at Jefferies. The stock closed up almost 3% at $28.66 ahead of the call. The consensus price target is $26.87.

Verizon Communications Inc. (NYSE: VZ) was started as Peer Perform at Wolfe Research.

WPX Energy Inc. (NYSE: WPX) was downgraded to Sector Weight from Overweight at KeyBanc Capital Markets.

Thirteen stocks seriously ought to announce stock splits this earnings season.

Four marijuana stocks could be big winners on election day.

Monday’s top analyst upgrades and downgrades included Archer Daniels Midland, AMC, CarMax, Chevron, Exxon Mobil, GoodRx, Laird Superfood, Snap, Starbucks and Tesla.

Get Our Free Investment Newsletter

I have read, and agree to the Terms of Use

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.