Top Analyst Upgrades and Downgrades: AMD, AGCO, Alibaba, Baidu, Honeywell, L3Harris, Mosaic, Peloton, Teradyne and More

Investing

Published: November 4, 2020 8:57 am

Last Updated: November 4, 2020 10:09 am

Stocks managed a very strong recovery on Monday that was followed by a strong rally on Tuesday, and stocks were indicated higher with Wednesday being a day when the country doesn’t know who even won the presidential election. Many investors missed out on the recovery from March’s panic selling. With the election still undecided and with many issues still facing America, investors now have to consider looking at new ideas about how to be positioned heading into 2021.

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 Wednesday, November 4, 2020.

ADTRAN Inc. (NASDAQ: ADTN) was raised to Buy from Hold with a $16.50 price target at Jefferies. The stock was indicated up 3.7% at $11.58 a share on Wednesday morning, and it has a $13.90 consensus target price.

Advanced Micro Devices Inc. (NASDAQ: AMD) was raised to Buy from Neutral at Goldman Sachs. AMD closed up 2.5% at $76.58 a share on Tuesday. It had an $86.66 consensus price target ahead of the call.

AGCO Corp. (NYSE: AGCO) was reiterated as Outperform and its price target was raised to $110 from $90 at BMO Capital Markets. Morgan Stanley reiterated its Equal Weight rating but raised its price target to $95 from $84. The stock closed up 8.5% at $86.94 a share on Tuesday, and it has an $89.94 consensus price target.

Alibaba Group Holding Ltd. (NYSE: BABA) closed down 8.1% at $285.57 after the Ant initial public offering was canceled in China. Raymond James reiterated Alibaba as a Strong Buy and raised its price target to $335 from $320. It had a $334.75 consensus price target.

Antero Midstream Corp. (NYSE: AM) was raised to Equal Weight from Underweight at Wells Fargo.

Baidu Inc. (NASDAQ: BIDU) was raised to Overweight from Equal Weight with a $170 price target (versus a $134.11 prior close) at Barclays.

Emerson Electric Co. (NYSE: EMR) was reiterated as Buy and its price target was raised to $80 at independent research firm Argus.

Honeywell International Inc. (NYSE: HON) was reiterated as Buy and its price target was raised to $195 from $185 at Argus. The shares closed up 3.2% at $179.21 apiece ahead of the call, and they have a $179.79 consensus price target.

ALSO READ: 5 Blue Chip Stocks to Buy for 2021 With Dividends of 6% and Higher

Intrepid Potash Inc. (NYSE: IPI) was started with a Buy rating and an $11 price target at Roth Capital. The stock closed down over 17% at $9.18 per share on Tuesday, and the consensus price target was $13.17.

Kraft Heinz Co. (NASDAQ: KHC) was named as the Bull of the Day at Zacks, which said changes in behavior because of the shutdowns are increasing sales at this food giant. The shares most recently closed at $31.78, and they have a consensus price target of $36.05.

L3Harris Technologies Inc. (NYSE: LHX) was reiterated as Buy with a $225 price target at Argus, but the firm noted a dividend discount model valuation of $325, and it noted that the recent weakness offers a buying opportunity. The stock closed up 4.9% at $178.81 per share on Tuesday, and it has a $228.05 consensus target price.

Mosaic Co. (NYSE: MOS) was reiterated as Outperform and the price target was raised to $24 from $20 (versus a $17.19 prior close, after a 12% drop) at Credit Suisse, which noted that the recent pullback is not justifiable and that Asia demand will help its end markets. The stock had a $21.81 consensus target price.

Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) was named as the Zacks Bear of the Day stock. The firm said that the return to full speed for cruise lines will be long and slow. Shares last closed at $16.51, and they have a consensus price target of $17.96.

ONE Gas Inc. (NYSE: OGS) was reiterated as Buy and its price target was raised to $81 from $80 (versus a $73.67 prior close) at Mizuho. The stock closed up 3% at $73.67 a share, and it has a $78.63 consensus analyst target.

Peloton Interactive Inc. (NASDAQ: PTON) was reiterated as Buy and its price target was raised to $140 from $130 (versus a $111.70 prior close) at Rosenblatt.

Teradyne Inc. (NYSE: TER) was raised to Buy from Neutral with a $107 price target (versus an $89.83 prior close) at Goldman Sachs. This stock had a $98.50 consensus price target ahead of the call.

Visteon Corp. (NYSE: VC) was raised to Neutral from Sell at Goldman Sachs. It closed up 2.6% at $92.39 a share ahead of the call, and it has a $93.86 consensus price target.

XPeng Inc. (NYSE: XPEV) was started with a Buy rating at Citigroup.

ALSO READ: Despite Election Wins, Pot Stocks Get Smoked: 4 to Buy on Weakness

Five blue chip stocks may be the place for income investors to be in the coming year.

Tuesday’s top analyst upgrades and downgrades included Clorox, Editas Medicine, EverQuote, Monster Beverage, PayPal, Skechers, Skyworks Solutions and SolarEdge.

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