Stocks were looking for direction with major indexes at or just under all-time highs the day before Thanksgiving. Now is a time for financial reflection with the election outcome known, with new a regime coming, with tariffs coming and government spending cuts. Investors need to be planning how they want to position their portfolios for 2025 and beyond. This is where Wall Street research can come into play with Wall Street’s top market pundits having some insights to share.
Oggonomics searches the daily flow of analyst research reports covering the upgrades, downgrades and initiations from Wall Street looking for new ideas. These analyst reports generally try to look out a year out into the future and often have new ideas that might have otherwise been overlooked or missed.
Some analyst calls are just reactionary to earnings and other news, but some analyst calls are preemptive and can move stocks. Short-term traders get a glimpse of immediate price reactions to news and to the analyst calls. Long-term investors get a picture of new buy, sell and hold ratings with targets looking a year out.
Oggonomics always reminds its readers and investors that no single analyst report should ever be the sole basis to buy or sell a stock. That decision to buy or sell, or hold or short sell, is up to each investor and the decision should be made with a financial advisor. And there are of course no assurances that any of the price predictions and the scenarios that back the calls up will actually come to fruition.
These are the top analyst upgrades, downgrades and initiations from Wednesday, November 27, 2024. The U.S. financial markets are closed on Thursday for the Thanksgiving holiday and there will be little or few analyst calls issued by U.S. brokerage firms on the Friday half-day of trading.
The Boeing Co. (NYSE: BA) has sure faced a rough 2024 and Zacks has just named it as the Bear of the Day, noting that lofty expectations always coming back down to earth. The report even said “Enough with the excuses.”
Booking Holdings, Inc. (NASDAQ: BKNG) was started as Outperform with a $5850 price target at Baird.
CrowdStrike Holdings, Inc. (NASDAQ: CRWD) was downgraded to Hold from Buy with the same $347 price target at HSBC. BMO reiterated its Outperform rating and raised its target to $380 from $315. Rosenblatt reiterated its Buy rating and its $385 price target. Needham reiterated Buy and target to $420 from $360. Baird reiterated its Outperform rating and raised its target to $390 from $375. CrowdStrike had already seen many price hikes ahead of earnings and its shares were down 5% at $346.15 after the earnings reaction.
Dell Technologies, Inc. (NYSE: DELL) was last seen down 13% at $123.16 as its layoffs aren’t helping the earnings story due to weak PC demand. Dell was maintained as Equal-Weight but its target was raised to $115 from $106 at Barclays. Citigroup maintained its Buy rating but trimmed its target to $156 from $160.
Dick’s Sporting Goods, Inc. (NYSE: DKS) was raised to Buy from Neutral and its price target was raised to $260 from $225 at UBS. Loop Capital reiterated its Hold rating but lifted its target to $225 from $200. UBS raised its rating on Dick’s to Buy from Neutral and raised its price target to $260 from $225 in its call.
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Expedia Inc. (NASDAQ: EXPE) was started as Outperform with a $225 price target at Baird.
GRAIL, Inc. (NASDAQ: GRAL) was started as Equal-Weight with a $16 price target at Morgan Stanley.
Lululemon Athletica, Inc. (NASDAQ: LULU) was maintained as Outperform but its price target was cut to $380 from $445 at Oppenheimer.
Martin Marietta (NYSE: MLM) was raised to Overweight from Neutral and its price target was raised to $640 from $515 at JPMorgan.
MP Materials Corp. (NYSE: MP) was reiterated as Buy and its price target was raised to $26 from $23 at Canaccord Genuity.
TotalEnergies SE (NYSE: TTE) was cut to Neutral from Outperform at Exane BNP Paribas.
Urban Outfitters, Inc. (NASDAQ: URBN) was raised to Buy from Neutral and its price target was raised to $59 from $42 at Citigroup. BofA reiterated its Buy rating and raised its price objective to $53 from $46. Telsey Advisory Group reiterated its Market Perform rating and raised its target to $46 from $44. Baird reiterated its Neutral rating and raised its target to $49 from $47.
Workday, Inc. (NASDAQ: WDAY) was downgraded to Neutral from overweight and its price target was trimmed down to $270 from $285 at Piper Sandler. BofA maintained its Buy rating but cut its price objective to $285 from $310. Workday’s stock was down 7.5% at $249.90 in its earnings reaction.
If you missed Tuesday’s top analyst ratings changes, they were in shares of Barrick, Capri, Chevron, Delta, Morgan Stanley, Southwest, Starbucks, Target and over a dozen more stocks.
