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Top Analyst Upgrades and Downgrades: Airbnb, Discovery, DoorDash, Hewlett Packard Enterprise, Intel, Snap, Spotify and More
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We made it to Friday, and the futures were trading lower. On Thursday, we once again saw all the major indexes either setting intraday all-time highs or getting very close before selling off late in the day. Fourth-quarter earnings reports will really get rolling now, with three of the leading money center banks reporting. With all the major indexes and the Russell 2000 still close to all-time highs, it makes sense for investors to start building some cash reserves while repositioning portfolios for 2021 as a pullback could be in the offing.
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 Friday, January 15, 2021.
Airbnb Inc. (NASDAQ: ABNB) was started with a Hold rating and a $154 price target at Truist Securities. That compares with a $155.24 consensus target across Wall Street. The recent red-hot IPO closed Thursday at $180.50, up over 6% on the day, and the shares were up another 3% in premarket action.
Accolade Inc. (NASDAQ: ACCD) was raised to Outperform from Neutral at Credit Suisse, which also raised the price target to $60. The consensus target is $54.36. The stock closed Thursday at $47.76. The shares were up a whopping 13% in the premarket.
American Electric Power Co. Inc. (NYSE: AEP) was downgraded to Sell from Neutral at Goldman Sachs, which also lowered the price target on the utility giant to $83. The consensus target is $94.34. The final trade on Thursday came in at $78.83 a share.
Anthem Inc. (NYSE: ANTM) was raised to Buy from Hold at Jefferies, which also boosted the price target to $402. The consensus target is $363.52. The shares were last seen on Thursday at $322.52.
AutoNation Inc. (NYSE: AN) was downgraded at JPMorgan from Overweight to Neutral with a $75 price target. The posted consensus target is $71.43. The shares closed Thursday at $75.89.
BioVie Inc. (NASDAQ: BIVI) was started with a Buy rating and a $47 price objective at B. Riley Securities. No consensus target was available, and the shares closed Thursday at $29.94, up over 7% on the day.
CenterPoint Energy Inc. (NYSE: CNP) was upgraded to Buy from Neutral at Goldman Sachs, which also lifted the price target to $27. The consensus target is $24.56, and Thursday’s closing print was at $20.85.
Discovery Inc. (NASDAQ: DISCA) was upgraded to Buy from Neutral at MoffettNathanson, and the price target was raised to $45. The consensus target is just $28.59. The last trade on Thursday was reported at $37.25.
DoorDash Inc. (NYSE: DASH) was started at Truist Securities with a Hold rating and a $154 price target. That compares to a higher $166.54 consensus target and Thursday’s sky-high close of $207.24, after almost a 5% gain for the day.
Intel Corp. (NASDAQ: INTC) was raised from Sell to Buy with a $62 price objective at DZ Bank. The consensus objective is $56.56. Thursday’s final trade for the chip giant came in at $59.25, up over 4% on the day.
Intercept Pharmaceuticals Inc. (NASDAQ: ICPT) was downgraded to Underperform from Neutral at BofA Securities, which dropped the price target to $27. That is much lower than the $53.26 consensus target. Thursday’s closing share price was $29.24.
Ralph Lauren Corp. (NYSE: RL) was upgraded at RBC Capital Markets from Sector Perform to Outperform, and the price target was raised to $138. The $103.24 consensus target compares with a Thursday close of $111.47 per share.
Raymond James Financial Inc. (NYSE: RJF) was upgraded at Wells Fargo from Underweight to Overweight with a $120 price target. The consensus target is $106.17. The shares were last seen on Thursday at $102.70.
Snap Inc. (NYSE: SNAP) was raised to Buy from Neutral at MoffettNathanson, which also lifted the price target to $57. The consensus target is $46.00. The last trade on Thursday was reported at $49.03, after retreating 8% on the day.
Sonic Automotive Inc. (NYSE: SAH) was raised at JPMorgan from Neutral to Overweight with a $55 price target. The consensus target is set at $51.14. The stock closed Thursday at $46.41, up over 7% on the day.
Spotify Technology S.A. (NYSE: SPOT) was downgraded to Sell from Neutral at Citigroup. The shares have traded in a huge 52-week range of $109.18 to $370.95 and have a consensus price target of $283.94. The stock closed Thursday at $342.27 and was lower in premarket trading.
Stifel Financial Corp. (NYSE: SF) was raised to Equal Weight from Underweight at Wells Fargo, where the analysts have posted a $56 price target. The consensus target for the brokerage firm is $51.83. The final Thursday trade hit the tape at $51.68 a share.
Four engineering and construction companies could see a big boost from the incoming president’s huge infrastructure spending plan. Moreover, four suppliers look poised to benefit from huge capital spending at Taiwan Semiconductor Manufacturing Co. (NYSE: TSM).
Thursday morning’s top analyst upgrades and downgrades included Advanced Micro Devices, Adobe, Chevron, Chipotle Mexican Grill, DuPont, Intel and Penn National Gaming. Analyst calls seen later in the day were on General Motors, Nordstrom, Shopify and more.
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