Stocks were lower again on Thursday morning as the fourth quarter gets off to a rocky start. Even the Chinese internet stocks were pulling back on Thursday. The port strike is still on and tensions on the geopolitical front remain hot. And despite all of the issues the S&P 500 is barely 1% down from its highs.
Investors and traders alike have to be considering and hunting for new ideas to be positioned for the coming months and into 2025. Oggonomics searches the daily flow of analyst calls covering the upgrades and downgrades from Wall Street looking for new ideas in Wall Street research reports. These analyst calls can be a reliable source for finding some of those new ideas that might have otherwise been overlooked or missed.
Long-term investors get a picture of new buy, sell and hold ratings with targets looking a year out. Short-term traders get a glimpse of immediate price reactions to news and to the analyst calls.
Oggonomics would always 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 decision to buy, sell or hold needs to be made by each investor along with their financial advisor.
These are some of the top analyst upgrades and downgrades seen on Thursday, October 3, 2024.
Academy Sports & Outdoors, Inc. (NASDAQ: ASO) was downgraded to In-Line from Outperform and its price target was cut to $60 from $65 (versus $55.56 prior close) at Evercore ISI.
ATI Inc. (NYSE: ATI) was reiterated with a Buy rating and its price target was raised to $84 from $81 at Deutsche Bank.
Atlas Lithium Corporation (NASDAQ: ATLX) was maintained with a Buy rating but its price target was slashed to $19 from $41 (versus $6.41 prior close) at HC Wainwright.
The Boeing Co. (NYSE: BA) was reiterated with a Buy rating but its price target was cut to $195 from $225 at Deutsche Bank.
BigCommerce Holdings, Inc. (NASDAQ: BIGC) was maintained as Buy but its price target was cut to $8 from $10 (versus $5.67 prior close) at Stifel.
BWX Technologies, Inc. (NYSE: BWXT) was reiterated with a Buy rating and its price target was raised to $129 from $113 at Deutsche Bank.at Buy by Deutsche Bank
CME Group Inc. (NASDAQ: CME) was reiterated as Underperform at BofA Securities, while its price objective was lifted up to $180 from $177 in the call.
Constellium SE (NYSE: CSTM) was reiterated with a Buy rating at Deutsche Bank, but the firm trimmed its price target down to $22 from $23 (versus $16.19 prior close).
Concentrix Corporation (NASDAQ: CNCX) was started with an Outperform rating and was assigned a $70 price target (versus $51.70 prior close) at R.W. Baird.
Crane Company (NYSE: CR) was reiterated with a Buy rating and its price target was raised to $182 from $175 at Deutsche Bank.
Dianthus Therapeutics, Inc. (NASDAQ: DNTH) was started as Outperform with a $48 price target (versus $27.98 prior close) at Oppenheimer.
Enovis Corporation (NYSE: ENOV) was started with a Market Outperform rating and it was assigned a $62 target price (versus $40.84 prior close) at JMP Securities.
GE Aerospace (NYSE: GE) was reiterated with a Buy rating and its price target was raised to $235 from $212 at Deutsche Bank.
General Dynamics (NYSE: GD) was reiterated with a Hold rating and its price target was cut to $314 from $320 at Deutsche Bank.
Howmet Aerospace Inc. (NYSE: HWM) was reiterated with a Buy rating and its price target was raised to $125 from $106 at Deutsche Bank.
InvenTrust Properties Corp. (NYSE: IVT) was raised to Buy from Neutral and its price objective was raised to $33 from $30 (versus $28.52 prior close) at BofA Securities.
Levi Strauss & Co. (NYSE: LEVI) was down almost 3% at $21.06 ahead of earnings and Thursday’s post-earnings reaction was last seen down 12% at $18.53 after lower guidance. Levi Strauss was maintained with a Buy rating but its target was cut to $25 from $218 at Stifel.
Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) was started as Outperform with a $135 price target (versus $99.95 prior close) at Oppenheimer.
Lockheed Martin Corporation (NYSE: LMT) was reiterated with a Buy rating and its price target was raised to $620 from $600 at Deutsche Bank.
L3Harris Technologies, Inc. (NYSE: LHX) was maintained with a Hold rating and its price target was trimmed down to $250 from $252 at Deutsche Bank.
RTX Corp. (NYSE: RTX) was raised to Hold from Sell and its price target was raised to $129 from $109 at Deutsche Bank.
Stellantis N.V. (NYSE: STLA) already had a rough week after its earnings warning. Sellantis was downgraded to Equal-Weight from Overweight at Barclays.
Tractor Supply Company (NASDAQ: TSCO) was downgraded to In-Line from Outperform and its price target was maintained at $300 (versus $298.07 prior close) at Evercore ISI.
WNS Holdings Ltd. (NYSE: WNS) was maintained as Hold but its target price was cut to $41 from $55 at Deutsche Bank,
Wolfspeed, Inc. (NYSE: WOLF) was downgraded to Underperform from Neutral and its price target as slashed down to $8 from $17 at Mizuho. Wolfspeed closed up almost 3% at $9.15 on Wednesday but the silicon carbide technologies outfit’s shares were indicated down 5.2% at $8.67 on Thursday morning.
If you missed out on Wednesday’s top analyst calls, they were in shares of ADM, Domino’s, GE Vernova, Home Depot, Nike, Salesforce, Tempus AI and many more stocks.
