Stocks were entering the second half of 2024 marginally higher for the first trading day of July. Oggonomics is continually looking 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 can be a strong source for some of those new ideas. Many of the daily analyst calls are “strategic bull” calls by nature. Other analyst calls may seem more permanent as analysts can maintain the same rating for years in many cases.
Many analysts have a slew of stocks to buy in their daily calls. Other analyst calls also offer ideas for stocks to sell or stocks to avoid. Investors should always keep in mind that no analyst call should act as the sole reason to buy or sell a stock. These daily analyst calls and the impact from the calls also help to enforce one of the Oggonomics mantras that the so-called Efficient Market Hypothesis is not all that efficient in its assumptions.
While stocks are up and the market indexes are close to all-time highs, it is currently dirt-cheap to hedge and protect your gains against a market sell-off (or even the next crash!).
These are some of the top analyst upgrades, downgrades and initiations for Monday, July 1, 2024.
Altice USA, Inc. (NYSE: ATUS) was started as Sell with a $2.00 price target at Goldman Sachs.
American Tower Corporation (NYSE: AMT) was started as Buy and was assigned a $230 price target at Goldman Sachs.
AT&T Inc. (NYSE: T) was started as Buy and was assigned a $ price target at Goldman Sachs.
Charter Communications, Inc. (NASDAQ: CHTR) was started as Sell and was assigned a $250 price target at Goldman Sachs.
Cogent Communications Holdings, Inc. (NASDAQ: CCOI) was started as Neutral and was assigned a $56 price target at Goldman Sachs.
Digital Realty Trust, Inc. (NYSE: DLR) was started as Buy and was assigned a $175 target at Goldman Sachs.
DraftKings, Inc. (NASDAQ: DKNG) was maintained as Outperform but its price target was cut to $58 from $60 (versus $38.17 prior close) at Oppenheimer.
Equinix, Inc. (NASDAQ: EQIX) was started as Buy with a $870 target price (versus $756.60 prior close) at Goldman Sachs.
Frontier Communications (NASDAQ: FYBR) was started as Buy with a $29 target at Goldman Sachs.
Gannett Co., Inc. (NYSE: GCI) was started as Outperform with a $6 price target (versus $4.61 prior close) at JMP Securities.
Gauzy Ltd. (NASDAQ: GAUZ) was started as Buy with a $24 price target at TD Cowen. Gauzy was started as Buy with a $18 price target at Stifel. Barclays started Gauzy with an Overweight rating with a $24 target at Barclays. Gauzy closed up 9% at $12.02 ahead of the calls.
Lumen Technologies, Inc. (NYSE: LUMN) was started as Sell with a $1.00 price target Goldman Sachs
NVIDIA Corporation (NASDAQ: NVDA) was reiterated as Overweight and its price target was raised to $144 from $116 (versus $123.54 prior close) at Morgan Stanley. NVIDIA was last seen down 0.4% at $123.05 on Monday.
T-Mobile US, Inc. (NASDAQ: TMUS) was started as Buy with a $200 price target (versus $176.18 prior close) at Goldman Sachs.
Walmart Inc. (NYSE: WMT) was reiterated as Buy and its target price was raised to $77 from $71 (versus $67.71 prior close) at Deutsche Bank.
Zimmer Biomet Holdings, Inc. (NYSE: ZBH) was downgraded to Neutral from Overweight at Piper Sandler.
In case you missed Friday’s Top Analyst Upgrades and Downgrades, they were in shares of Apple, Deere, Nike, Rivian, SAP, Xerox and more stocks.
