Stocks were indicated up marginally on Monday after the Dow Jones Industrial Average closed above the 40,000 mark for the first time. Oggonomics continually hunts for new ideas and research for long-term investors and short-term traders alike. Wall Street’s daily flow of analyst upgrades, downgrades and initiations are often a strong source for some of those new ideas.
Many analyst calls are “strategic bull” calls by their nature as the “stocks to buy” may even occur when the stock market or a company’s sector are weak. Others may feature stocks to sell or stocks to avoid.
Here are the top analyst upgrades, downgrades and initiations for Monday, May 20, 2024.
ABIVAX S.A. (NASDAQ: ABVX) was started with a Buy rating and was assigned a $43 price target at BTIG. ABIVAX closed at $13.67 on Friday and it has a 52-week range of $7.99 to $17.02.
Airship AI Holdings, Inc. (NASDAQ: AISP) was started with a Buy rating and was assigned a $12 price target (versus $4.36 prior close) at Roth MKM Partners. Airship AI was indicated up 5% at $4.59 on Monday morning.
Autodesk, Inc. (NASDAQ: ADSK) was maintained as Overweight but its price target was trimmed down to $305 from $320 (versus $221.2 prior close) at KeyBanc.
Constellation Energy Corp. (NYSE: CEG) was reiterated as Overweight and its price target was raised to $230 from $190 (versus $213.11 prior close) at KeyBanc.
Duke Energy Corporation (NYSE: DUK) was reiterated as Overweight and its target price was raised to $112 from $107 (versus $103.89 prior close) at KeyBanc.
Humana Inc. (NYSE: HUM) was reiterated as Neutral but the price objective was raised to $376 from $342 (versus $356.20 prior close) at BofA Securities.
Impinj, Inc. (NASDAQ: PI) was downgraded to Neutral from Buy with a $156 price target (versus $173.40 prior close) at Goldman Sachs.
Micron Technology, Inc. (NASDAQ: MU) was raised to Equal Weight from Underweight and its price target was raised to $130 from $98 at Morgan Stanley. Micron closed at $125.29 ahead of the call and was indicated up 2% at $128.00 on Monday.
NVIDIA Corporation (NASDAQ: NVDA) was reiterated as Outperform and its price target was raised to $1,200 from $1,050.00 at Robert W. Baird. Stifel also reiterated its Buy rating and raised its target to $1,085 from $910. NVIDIA closed down 2% at $924.79 ahead of the call and was indicated up 1.4% at $937.50 on Monday.
Oscar Health, Inc. (NYSE: OSCR) was reiterated as Buy and its price objective was raised to $25 from $22 (versus $22.52 prior close) at BofA Securities.
Patterson Companies, Inc. (NASDAQ: PDCO) was maintained as Buy but the price objective was trimmed down to $32 from $34 at BofA Securities. Patterson shares closed at $25.76 ahead of the call.
Teradyne, Inc. (NASDAQ: TER) was raised to Buy from Neutral and its price target was raised to $161 from $118 (versus $131.91 prior close) at Goldman Sachs.
Ulta Beauty, Inc. (NASDAQ: ULTA) was maintained with an Overweight rating but its target price was lowered down to $505 from $595 (versus $399.56 prior close) at Piper Sandler.
