The futures traded higher on Monday as we start yet another holiday-shortened trading week, with the market closed again this Friday for the New Year’s celebration. Investors are cheering the fact that President Trump signed a coronavirus stimulus and government funding bill. Look for trading volume to remain solid but subdued, as many won’t return to Wall Street until next week. Investors should be reviewing portfolios closely now and adjusting positioning for 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 Monday, December 28, 2020.
Activision Blizzard Inc. (NASDAQ: ATVI) was reiterated at Truist Securities with a Buy rating and a $90 price target. The analysts cite a solid start to the Call of Duty mobile launch in China. The Wall Street consensus price target for the gaming giant is $97.28, while shares closed last Thursday’s trading at $90.96.
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Altice USA Inc. (NYSE: ATUS) was reiterated at Raymond James with a Strong Buy rating and a $42 price target. That compares with the $38.73 consensus target and last Thursday’s $36.03 closing print.
Amicus Therapeutics Inc. (NASDAQ: FOLD | FOLD Price Prediction) was started with an Overweight rating at Cantor Fitzgerald, which also raised the target price to $30. That compares with a $23.73 consensus and a Thursday close of $24.23.
Amesite Inc. (NASDAQ: AMST) was started with a Speculative Buy rating and a $7 price objective at Benchmark. The company went public back in September and has traded between $3.65 and $6.58. No consensus target was available. The shares were last seen trading at $4.73.
Boeing Co. (NYSE: BA) saw its target price raised to $307 at RBC Capital Markets, which has a Buy rating on the aerospace and defense giant. The consensus price target is $230.74. The shares closed most recently at $217.15.
Booking Holdings Inc. (NASDAQ: BKNG) was named as the Zacks Bear of the Day stock. The firm said that here investors are paying a big multiple in anticipation of a travel recovery that may be delayed. Shares last closed at $2,088.35 but have a consensus price target of $1,992.93.
CNS Pharmaceuticals Inc. (NASDAQ: CNSP) was downgraded to Neutral from Buy at Ladenburg Thalmann. The stock has traded between $1.28 and $5.62 over the past 52 weeks, and it closed last Thursday at $1.78. Despite the downgrade, the stock traded over 3% higher in Monday’s premarket.
Elastic N.V. (NASDAQ: ESTC) saw its target price raised to $184 from $156 at Moness, Crespi & Hardt. The consensus target is $147.07, and last Thursday’s closing print was $155.99.
Fathom Holdings Inc. (NASDAQ: FTHM) saw its target price raised to a Wall Street high of $40 from $28 at Roth Capital. The consensus target is $28, but Thursday’s closing price was $36.92.
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Kinnate Biopharma Inc. (NASDAQ: KNTE) was started with a Buy rating and a $48 price target at Goldman Sachs. The stock had a recent IPO and has traded between $34.14 and $48.75 since. Piper Sandler also started the company with a Buy rating but with a $60 target, while Wedbush started it as Outperform with a $48 price objective. The last trade to hit the tape on Thursday was at $34, and shares were up almost 8% in premarket action.
Ocular Therapeutix Inc. (NASDAQ: OCUL) was downgraded to Neutral from Buy at H.C. Wainwright. The analysts did not have a price target for the shares, which have traded between $3.78 and $24.30 over the past year. Thursday’s closing price was reported at $22.08.
PAE Inc. (NASDAQ: PAE) was started at Morgan Stanley with an Overweight rating and an $11 price objective. That compares with the higher $13.50 consensus target. The shares ended Thursday at $8.68.
Power Integration Inc. (NASDAQ: POWI) saw its target price raised to $90 from $72 at Cowen. The analyst cited upwardly revised numbers driven by more favorable end demand, and price hikes could drive further upside. The company’s dominant position and integration capabilities in power conversion enable it to effectively address rapid charging, energy efficiency and electrification. The consensus target is just $68.33. The shares closed last Thursday at $79.54.
RMR Group Inc. (NASDAQ: RMR) was started with a Buy rating and a $45 price target at BTIG Research. The consensus figure is $35.71, and the final trade on Thursday was reported at $38.16.
Rocket Companies Inc. (NYSE: RKT) was named as the Bull of the Day at Zacks, which said that this high-tech firm that facilitates lending is the wave of the future. Shares most recently closed at $20.83 and have a consensus price target of $24.70.
Truist Financial Corp. (NYSE: TFC) is reiterated with an Outperform rating at Raymond James, which has a $46 price objective. Shares were last seen on Thursday at $46.99.
Walgreens Boots Alliance Inc. (NYSE: WBA) was reiterated at Baird with a Neutral rating. Shares of the retail drugstore giant have traded between $33.36 and $59.78 over the past 52 weeks, and they have a $39.67 consensus price target. The last trade on Thursday was reported at $39.62.
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While positive earnings could continue to drive the major indexes higher in 2021, a very overbought and fully valued market could offer some painful January indigestion. Five stocks look like solid total return ideas with upside potential and reliable dividends.
The top analyst upgrades and downgrades on Christmas Eve included Baidu, Fiserv, Virgin Galactic and Ultragenyx Pharmaceuticals.
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