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Top Analyst Upgrades and Downgrades: Airbnb, Amex, Arch Capital, Carlyle, Darden, Facebook, Eli Lilly, Nio and More
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The futures traded solidly higher on Tuesday morning as investors return to action from the long weekend and the Martin Luther King Jr. holiday. With fourth-quarter earnings reports ready to start pouring in, most eyes on Wall Street will not only be examining the results but also looking to see what guidance for the first quarter and the rest of 2021 looks like. 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 Tuesday, January 19, 2021.
Airbnb Inc. (NASDAQ: ABNB) was started with a Sell rating and a $74 price target at Redburn. That compares with a much higher $155.19 Wall Street consensus target and Friday’s closing price of $169.27. Shares traded higher in Tuesday’s premarket.
American Express Co. (NYSE: AXP) was raised at JPMorgan from Underweight to Overweight with a $148 price target. The consensus target for the financial industry giant is $128. The stock closed last Friday at $122.15.
ArcelorMittal Inc. (NYSE: MT) was downgraded at Credit Suisse from Outperform to Neutral with a $24 price objective. The consensus objective for the steel leader is $26.59. The shares were last seen trading at $23.95, down over 3% on Friday.
Arch Capital Group Ltd. (NASDAQ: ACGL) was raised from Market Perform to Market Outperform with a $43 price target at JMP Securities. The posted consensus target is $40.90, and the shares were last seen on Friday at $34.69.
Carlyle Group Inc. (NYSE: CG) was raised to Outperform from Market Perform at Keefe Bruyette, which has set a $40 price objective. The $35.30 consensus is above Friday’s closing print of $33.70.
Capri Holdings Ltd. (NYSE: CRPI) was named as the Bull of the Day at Zacks, which said that this luxury retailer is well positioned as the pandemic continues to have an impact on the economy. Shares most recently closed at $42.85 and have a consensus price target of $40.81.
CMC Materials Inc. (NYSE: CCMP) was upgraded to Neutral from Sell at Goldman Sachs, which also lifted the price target to $164. The consensus target is $161.40. The last trade on Friday came in at $164.68.
Darden Restaurants Inc. (NYSE: DRI) was raised to Overweight from Equal Weight at Morgan Stanley, which has a $142 price target. The consensus target is $128.19. The shares closed trading last Friday at $121.08.
Digital Realty Trust Inc. (NYSE: DLR) was raised at Raymond James from Outperform to Strong Buy with a $175 price objective. The consensus target is $165.45. The shares closed on Friday at $136.48.
Discovery Inc. (NASDAQ: DISCA) was downgraded to Underweight from Equal Weight at Barclays, which actually raised their price target to $29. That is in line with the $29.09 consensus. Friday’s $36.76 close was much higher.
DraftKings Inc. (NASDAQ: DKNG) was started with a Sell rating and a $41 price objective at Berenger. The consensus target for the company is posted at $60.61. Friday’s last trade came in at $53.70.
Eli Lilly and Co. (NYSE: LLY) was upgraded to Buy from Neutral at Mizuho, which also lifted the price target for the pharmaceutical giant to $222. The consensus target is a much lower $185.88. The stock was last seen on Friday at $190.77. Shares traded 3% higher in the premarket.
Emerson Electric Co. (NYSE: EMR) was raised at Goldman Sachs from Neutral to Buy with a $97 price target. The consensus target for the industrial leader is $84.25, and the shares ended Friday’s trading at $82.75.
Equinix Inc. (NASDAQ: EQIX) was upgraded to Strong Buy from Outperform at Raymond James, which also boosted the price target for the data center giant to $835. That compares with a higher $844.50 consensus target and Friday’s $707.76 closing print.
Facebook Inc. (NASDAQ: FB) was raised to Outperform from Market Perform at BMO Capital Markets. The analysts also raised the price target on the social media colossus to $325. The consensus target is $321.96. Friday’s last trade was recorded at $251.36.
Gilead Sciences Inc. (NASDAQ: GILD) was raised at Morgan Stanley from Equal Weight to Overweight with an $83 price target. The posted consensus target is $72.22. The last trade on Friday came in at $63.33.
J.B. Hunt Transport Services Inc. (NYSE: JBHT) was upgraded at Credit Suisse to Outperform from Neutral. The analyst also lifted the price target on the trucking leader to $175. The consensus target is $146.81, and the last trade Friday came in at $151.51.
Nio Ltd. (NYSE: NIO) was started with a Hold rating and a $60 target at Jefferies. The consensus target for the up-and-coming electric vehicle maker is $50.28. Friday, the stock closed at $56.27, down almost 8% on the day. Shares were trading almost 4% higher in premarket action.
Post Holdings Inc. (NYSE: POST) was named as the Zacks Bear of the Day stock. The firm said that the maker of Honey Bunches of Oats is facing tough competition in a crowded market. Shares last closed at $98.82 and have a consensus price target of $110.33.
Rocket Companies Inc. (NYSE: RKT) was downgraded to Underweight from Overweight at JPMorgan, which has a $20 price target for the mortgage giant. The consensus target is up at $24.70. The shares were last seen on Friday at $19.60.
Southern Co. (NYSE: SO) was raised at BofA Securities from Neutral to Buy with a $64 price target. The consensus target for the utility company is $63.47, and the last trade to hit the tape Friday was at $59.66.
Total S.E. (NYSE: TOT) was downgraded from Outperform to Market Perform with a $48 price target at Cowen. The consensus for the French integrated oil giant is $51.94. The stock closed trading on Friday at $44.23, down almost 4% on the day. Shares were higher in premarket action.
Tower Semiconductor Ltd. (NASDAQ: TSEM) was upgraded to Outperform from Neutral at Credit Suisse, which boosted the price target to $37.50. That compares with a lower $30.61 consensus and Friday’s closing print of $28.45.
While many analysts are suggesting broad sector rotation, a new research report from the Jefferies internet team suggests staying with mega-cap leaders for 2021.
The most recent top analyst upgrades and downgrades included Airbnb, Discovery, DoorDash, Hewlett Packard Enterprise, Intel, Snap and Spotify.
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