Stocks were down across the board on Tuesday after Monday’s sell-off, but only by about 0.4% to 0.6% for the major stock indexes. This is also after the Dow and S&P 500 have been hitting all-time highs and with the election now only two-weeks away. Many investors and traders are now looking for new ideas to be positioned into 2025. This is where the top analyst upgrades, downgrades and initiations can be come into play.
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.
Short-term traders get a glimpse of immediate price reactions to news and to the analyst calls for strategic trading moves. Long-term investors get a picture of new buy, sell and hold ratings with targets looking a year out to see if there are longer-term strategic plays.
Oggonomics always reminds investors and its readers 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.
These are some of the top analyst upgrades and downgrades seen on Tuesday, October 22, 2024.
AerCap Holdings N.V. (NYSE: AER) was reiterated as Buy and its price target was raised to $115 from $110 (versus $96.47 prior close) at Deutsche Bank.
Apple Inc. (NASDAQ: AAPL) was reiterated as Overweight with a $273 price target at Morgan Stanley, with the pre-earnings call predicting that even if there are underperforming sales metrics for the new iPhone that any stock underperformance will be short lived. Apple closed at $236.48 on Monday with a $3.59 trillion market cap.
AppLovin Corporation (NASDAQ: APP) was up over 9% to $158.85 on a dual upgrade on Monday, and shares were indicated up about 1% at $160.50 on Tuesday’s follow-on calls. Now Loop Capital started it as Buy with a $181 price target. JPMorgan reiterated its Neutral rating but raised its price target to $160 from $57.
Applied Industrial Technologies, Inc. (NYSE: AIT) was started as Outperform with a $285 price target (versus $229.98 prior close) at Mizuho.
Axon Enterprise, Inc. (NASDAQ: AXON) was reiterated as Buy and its price target was raised to $525 from $400 (versus $443.98 prior close) at Needham & Co.
Block Inc. (NYSE: SQ) was maintained as Outperform but its price target was cut to $90 from $100 (versus $73.91 prior close) at Bernstein.
Braze Inc. (NASDAQ: BRZE) was started as Buy with a $37 price target (versus $30.93 prior close) at Stifel.
Canadian Solar, Inc. (NASDAQ: CSIQ) was downgraded to Sell from Neutral and its price target was cut to $11 from $19 (versus $12.63 prior close) at Citigroup.
Costco Wholesale Corporation (NASDAQ: COST) was started as Outperform with a $1,016 price target (versus $886.77 prior close) at Bernstein.
Dollar General Corporation (NYSE: DG) was started as Outperform with a $98 price target (versus $81.13 prior close) at Bernstein.
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Dollar Tree, Inc. (NASDAQ: DLTR) was started as Market Perform at Bernstein.
First Solar, Inc. (NASDAQ: FSLR) was raised to Buy from Neutral and its price target was raised to $254 from $200 at Citigroup.
Fluor Corp. (NYSE: FLR) was raised to Buy from Neutral and its price target was raised to $65 from $52 at Citigroup.
FTAI Aviation Ltd. (NASDAQ: FTAI) was reiterated as Buy and its price target was raised to $160 from $125 at Deutsche Bank.
The Home Depot, Inc. (NYSE: HD) was started as Market Perform at Bernstein.
Klavio, Inc. (NYSE: KVYO) was started with a Buy rating and was assigned a $45 price target (versus $38.01 prior close) at Stifel.
Mastercard Inc. (NYSE: MA) was reiterated as Outperform and its price target was raised to $560 from $500 (versus $515.01 prior close) at Bernstein.
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Royal Caribbean Cruises Ltd. (NYSE: RCL) was reiterated as Overweight and its price target was raised to $244 from $195 (versus $199.91 prior close) at Barclays.
Target Corporation (NYSE: TGT) was started as Market Perform at Bernstein.
Walgreens Boots Alliance, Inc. (NASDAQ: WBA) was maintained as Buy but its price target was cut to $14 from $16 (versus $10.45 prior close) at TD Cowen.
Walmart, Inc. (NYSE: WMT) was started as Outperform with a $95 price target (versus $80.81 prior close) at Bernstein.
Zions Bancorporation, National Association (NASDAQ: ZION) was down 3.4% at $49.44 on Monday but its shares were up over 4% at $51.50 on Tuesday after earnings. Zions saw price target hikes from several firms: Barclays to $52 from $47; RW Baird to $55 from $52; Wells Fargo to $54 from $50; Stephens to $55 from $53; and Morgan Stanley to $56 from $54.
Monday’s top analyst calls were in shares of ASML, GE Vernova, Gilead, IBM, JD.Com, Robinhood, Taiwan Semi and many more companies.
