U.S. stocks were higher on Thursday morning after the market managed a significant recovery on Wednesday after low inflation and post-debate reactions. September is historically the weakest month of the year for stocks, but long-term investors and short-term traders alike have to continually look for new ideas in good times and bad times. The markets are also prepping for the first Federal Reserve interest rate cut next week.
Oggonomics is continually on the hunt for new ideas as well to share with its readers. The daily flow of Wall Street analyst reports is often a great source for finding new ideas and hidden gems that might have otherwise been overlooked or missed. These reports offer long-term investors a picture of new buy, sell and hold ratings with targets and themes out for a year. Short-term traders get to see just how the news and the reports after the news are moving shares each day on a live basis.
Oggonomics would remind its readers and all investors that no single analyst report should ever be used as the sole reason to buy or sell a stock. The ultimate decision to buy, sell or hold any investment is up to each investor and is a decision that should be made along with their financial advisor.
These are some of the top analyst upgrades and downgrades seen on Thursday, September 12, 2024.
American Tower Corporation (NYSE AMT) was reiterated as Neutral but its target price was raised to $221 from $205 (versus $238.97 prior close) at Mizuho.
Aramark (NYSE: ARMK) was reiterated a Buy and its price target was raised to $42 from $37 (versus $37.99 prior close) at Truist Securities.
AutoNation, Inc. (NYSE: AN) was started with an Overweight rating and was assigned a $210 price target(versus $158.67 prior close) at Stephens.
Carvana Co. (NYSE: CVNA) was started with an Overweight rating and was assigned a $190 price target (versus $133.54 prior close) at Stephens.
CenterPoint Energy, Inc. (NYSE: CNP) was downgraded to Neutral from Buy with a $29 price objective (versus $27.95 prior close) at BofA Securities.
Domino’s Pizza, Inc. (NYSE: DPZ) was maintained with an Outperform rating but its price target was lowered down to $535 from $580 (versus $407.97 prior close) at R.W. Baird.
Edison International (NYSE: EIX) was given a double-upgrade as it was reinstated with a Buy rating (previous was Underperform) with a $95 price objective (versus $84.24 prior close) at BofA Securities.
Equifax Inc. (NYSE: EFX) was reiterated as Equal-Weight but its price target was raised to $271 from $250 (versus $297.99 prior close) at Morgan Stanley.
Exact Sciences Corporation (NASDAQ: EXAS) was reiterated as Overweight and its price target was raised to $85 from $75 (versus $64.12 prior close) at Piper Sandler.
Flutter Entertainment plc (NYSE: FLUT) was started with an Overweight rating and was given a $263 price target (versus $220.21 prior close) at Barclays.
The Interpublic Group of Companies, Inc. (NYSE: IPG) was downgraded to Sell from Neutral and its price target was cut to $29 from $34 (versus $30.93 prior close) at UBS.
Lithia Motors, Inc. (NYSE: LAD) was started with an Overweight rating and was assigned a $360 price target (versus $261.74 prior close) at Stephens.
NiSource Inc. (NYSE: NI) was reinstated with a Buy rating and a $37 price objective (versus $33.56 prior close) at BofA Securities.
Nordic American Tankers Limited (NYSE: NAT) was downgraded to Hold from Buy at Jefferies.
Oxford Industries, Inc. (NYSE: OXM) closed at $83.66 on Wednesday, but the owner of Tommy Bahama fell over 10% to $74.95 after lowering its full-year guidance due to inflation-weary consumers keeping spending tight. Oxford Industries was maintained with a Market Perform rating but its price target was cut to $86 from $110 at Telsey Advisory.
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PG&E Corporation (NYSE: PCG) was reinstated with a Buy rating and $24 price objective (versus $19.65 prior close) at BofA Securities.
Portland General Electric Co. (NYSE: POR) was downgraded to Underperform from Neutral at BofA Securities.
Rocket Lab USA Inc. (NASDAQ: RKLB) was started with a Market Perform rating at JMP Securities.
Sempra (NYSE: SRE) was reinstated with a Buy rating and a $94 price objective (versus $81.37 prior close) at BofA Securities.
Simon Property Group, Inc. (NYSE: SPG) was downgraded to Hold from Buy but its price target was adjusted higher to $159 from $157.50 (versus $163.38 prior close) at Stifel.
Sprouts Farmers Market, Inc. (NASDAQ: SFM) was started with a Sector Perform rating at RBC Capital Markets.
TransUnion (NYSE: TRU) was reiterated as Overweight and its price target was raised to $103 from $96 (versus $96.24 prior close) at Morgan Stanley.
Wednesday’s top analyst upgrades and downgrades were in AppLovin, Elastic, GameStop, Morgan Stanley, Novartis and many other stocks.
