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Top Analyst Upgrades and Downgrades: Amgen, Amphenol, Continental Resources, EOG, FedEx, IMAX, Splunk and More
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The futures traded higher Tuesday morning as the Santa Claus rally rolls on, where all three of the major indexes and the Russell 2000 hit all-time highs during Monday’s trading. President Trump signing the coronavirus relief and the government funding bill was the main impetus behind the Monday surge higher. End-of-year window dressing and rebalancing also will be a factor this 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 Tuesday, December 29, 2020.
Amgen Inc. (NASDAQ: AMGN) was started at Daiwa Securities with a Buy rating and a $300 price objective from the biotechnology giant. The Wall Street consensus target is just $253.29, and Monday’s closing print was $223.65. Amgen looks poised to be one of the 2021 Dogs of the Dow.
Amphenol Corp. (NYSE: APH) was resumed in coverage at JPMorgan with a Neutral rating and a $138 price target. The consensus target is $136.13. The shares were last seen on Monday at $129.84.
Arcturus Therapeutics Holdings Inc. (NASDAQ: ARCT) was downgraded to Market Perform from Outperform at Raymond James and from Overweight to Equal Weight with a $46 price target at Barclays. Baird downgraded the shares to Neutral from Outperform with a $69 price objective. The shares were pummeled after releasing a clinical update on COVID-19 vaccine trials. The consensus price target of $106.15 will surely be hammered, as shares closed Monday at $92.42 but were trading down a stunning 37% in the premarket.
BeyondSpring Inc. (NASDAQ: BYSI) was started with an Outperform rating and a $30 price target at Evercore ISI. That compares to the higher consensus target of $35.50 and Monday’s close at $10.96. Shares were 3% higher in premarket trading.
Caesarstone Ltd. (NASDAQ: CTSE) was started with a Buy rating at Benchmark. The shares have traded in a 52-week range of $7.65 to $15.86. No consensus target was posted, and the last trade for Monday came in at $10.80 a share.
Chico’s FAS Inc. (NYSE: CHS) was named as the Zacks Bear of the Day stock. The firm said that the retail apocalypse is exploding amid this global pandemic, and no brick-and-mortar business is safe. Shares last closed at $1.90 but have a consensus price target of $1.67.
Collegium Pharmaceuticals Inc. (NASDAQ: COLL) was reiterated with a Buy rating and is the top pick for 2021 at Needham. The analysts also set a $34 price objective, well above the $28.29 consensus target. The stock closed Monday at $18.94.
Continental Resources Inc. (NYSE: CLR) was raised to Overweight from Sector Weight at Keybanc Capital Markets with a $20 price target. The consensus target is $17.27, and Monday’s closing price was $16.26.
EOG Resources Inc. (NYSE: EOG) saw its price target raised to $63 from $50 at Truist Securities, which reiterated its Buy rating on the energy company. The consensus target is $63.14, and Monday’s final print was $48.94 per share.
24/7 Wall St.FedEx Corp. (NYSE: FDX) was named as the Bull of the Day at Zacks, which said that the perfect storm has been created for online retailers and their respective delivery services as society is conditioned to function entirely remotely. Shares most recently closed at $262.94 and have a consensus price target of $325.07.
IMAX Corp. (NASDAQ: IMAX) saw its target price raised to $26 from $18 at B. Riley Securities. The consensus target is $16.26. The stock closed at $17.70 on Monday.
Ormat Technologies Inc. (NYSE: ORA) was started with a Buy rating and a $96 price objective at BofA Securities. That compares to a lower $78.40 consensus target and Monday’s $87.55 closing price.
PDC Energy Inc. (NASDAQ: PDCE) saw its price target raised to $27 from $17 at Truist Securities, which reiterated its Buy rating. The posted consensus target is $23.17, and the stock closed Monday at $19.78.
Porch Group Inc. (NASDAQ: PRCH) was started at Benchmark with a Buy rating and a $24 price target. No consensus target was set due to the recent initial public offering. The last trade on Monday was posted at $14.71.
Radius Global Infrastructure Inc. (NASDAQ: RADI) was started with a Buy rating and a $21 price target at Lightshed Partners. The consensus target is $19.00. The shares closed Monday at $13.19.
Seer Inc. (NASDAQ: SEER) was started with an Outperform rating at Cowen and an Overweight rating with a $75 target at JPMorgan. BofA Securities started the shares at Neutral with a $69 target. The company was yet another recent IPO and has no consensus target yet. Monday’s closing price was reported at $64.40.
17 Education & Technology Group Inc. (NYSE: YQ) was started at Goldman Sachs with a Buy rating and a $21 price target. The consensus target was not posted as the company had a recent IPO. The shares closed Monday at $13.99 and were up almost 3% in premarket trading.
Sigilon Therapeutics Inc. (NASDAQ: SGTX) was started at Jefferies with a Buy rating and a $60 target, while Barclays has a Buy rating and a $48 price target. Once again, no consensus target was posted due to the recent IPO. The shares closed Monday at $39.80, down almost 4% on the day.
Silverback Therapeutics Inc. (NASDAQ: SBTX) was started with a Buy rating and a $44 price target at H.C. Wainwright. The analysts cited the multiple programs and several potential catalysts to generate value over the next 18 months. Stifel started the shares as a Buy with a $58 target, and Goldman Sachs initiated coverage with a $43 target. There is no consensus target due to the recent IPO. The shares closed Monday at $36.50.
Splunk Inc. (NASDAQ: SPLK) was started with a Neutral rating and a $189 price target at Daiwa Securities. That compares to the consensus target of $203.75. The last trade on Monday was reported at $175.55.
Jefferies has five top picks for 2021 for investors looking to add health care stocks to their portfolios.
Analysts have raised their targets and issued some very interesting calls lately on which stocks they think will be major players in the coming year, from Apple to Walmart.
The five top-performing Dow stocks of 2020 included Apple Inc. (NASDAQ: AAPL), of course. What is the outlook for them in the coming year?
Monday’s top analyst upgrades and downgrades included Activision Blizzard, Altice USA, Boeing, Booking, Rocket Companies, Truist Financial and Walgreens Boots Alliance.
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