Stocks have generally traded up since last week’s initial post-election surge. Stocks were also higher on Monday for Veterans Day with the Dow, S&P 500 and NASDAQ all seeing gains of about 0.4% early on. Many investors and traders are now looking for new ideas to be positioned as we are heading into 2025. That 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. Long-term investors get a picture of new buy, sell and hold ratings with targets looking a year out.
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 Monday, November 11, 2024.
Ardelyx, Inc. (NASDAQ: ARDY) was cut to Neutral from Buy at HC Wainwright. Ardelyx fell 20.5% to $5.07 on Friday and was indicated down at $4.98 early on Monday.
Block, Inc. (NYSE: SQ) was initiated with an Overweight rating and its price target is $83 (versus $74.56 prior close) at Piper Sandler.
Cabot Corporation (NYSE: CBT) was downgraded to Underweight from Neutral and its price target was maintained at $105 (versus $114.99 prior close) at JPMorgan.
CBOE Global Markets, Inc. (CBOE: CBOE) was raised to Buy from Hold and its price target was raised to $222 from $212 (versus $196.86 prior close) at Deutsche Bank.
Celanese Corporation (NYSE: CE) shares have cratered in the last week, falling from over $120 down to $84.80 at the end of last week. Celanese was cut to Underperform from Market Perform and its price target was cut to $76 from $138 at BMO Capital Markets. UBS also downgraded Celanese to Neutral from Buy and its price target was slashed to $97 from $161.
Cisco Systems, Inc. (NASDAQ: CSCO) was raised to Overweight from Neutral and its price target was raised to $66 from $55 (versus $58.06 prior close) at JP Morgan.
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Dell Technologies Inc. (NYSEL DELL) was reiterated as Overweight and its price target was raised to $154 from $136 (versus $134.23 prior close) at Morgan Stanley.
Lightspeed Commerce Inc. (NYSE: LSPD) was maintained at Neutral but its price target was raised to $17 from $15 (versus $17.07 prior close) at Piper Sandler.
MercadoLibre, Inc. (NASDAQ: MELI) recovered 5% to $1872.01 on Friday after a 16% loss on Thursday. MercadoLibre was reiterated as Overweight but its price target was trimmed down to $2450 from $2500 at Morgan Stanley.
NOV Inc. (NYSE: NOV) was downgraded to Neutral from Buy and its price target was cut to $18 from $21 at Citigroup.
NVIDIA Corporation (NASDAQ: NVDA) was reiterated as Overweight and its price target was raised to $175 from $140 at Piper Sandler as the firm’s top pick among large-cap tech stocks. Morgan Stanley also maintained its Overweight rating and raised its price target to $160 from $150. NVIDIA closed down 0.8% at $147.63 on Friday but was indicated up 0.7% at $148.65 on Monday morning.
PAR Technology Corporation (NYSE: PAR) was reiterated with a Buy rating and its price target was raised to $90 from $66 at Needham. Stephens also reiterated its Overweight rating and raised its price target to $83 from $70. PAR Technology closed up 11.6% at $74.24 on Friday and was indicated down 0.3% at $74.00 on Monday.
Sprout Social, Inc. (NASDAQ: SPT) was maintained as Neutral and its price target was cut to $29 from $40 at Piper Sandler. Sprout Social was down 13.8% at $26.71 on Friday and was indicated down another 0.7% at $26.50 on Monday morning.
Tanger Inc. (NYSE: SKT) was raised to Buy from Neutral and its price objective was raised to $40 from $35 (versus $35.53 prior close) at B of A Securities.
Tempus AI, Inc. (NASDAQ: TEM) was downgraded to Hold from Buy but its price target was raised to $65 from $45 at Stifel. Tempus AI shares had closed up 29.9% at $73.77 on Friday and the stock was indicated down almost 5% at $70.25 on Monday morning.
Tidewater Inc. (NYSE: TDW) was downgraded to Outperform from Strong Buy and its price target was cut to $102 from $131 at Raymond James. Tidewater closed down 12.6% at $56.07 on Friday and was trading up 0.9% at $56.60 in early trading indications on Monday.
Toast, Inc. (NYSE: TOST) was maintained with a Neutral rating but its price target was raised to $35 from $25 at Piper Sandler. Toast shares closed up 14.7% at $37.48 on Friday and it was trading up 0.4% at $37.65 in Monday’s early trading indications.
Vacasa, Inc. (NASDAQ: VCSA) was maintained with a Buy rating but its price target was cut to $3.25 from $5.00 at Needham. Vacasa closed down 3.8% at $2.77 on Friday and its 52-week range is $2.07 to $11.70.
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Vale S.A. (NYSE: VALE) was downgraded to Neutral from Buy and its target price was cut to $11.50 from $14 at UBS. Vale shares closed down 5.5% at $10.59 on Friday and it was down another 2.8% at $10.30 in early Monday trading indications.
Warner Bros. Discovery, Inc. (NASDAQ: WBD) was raised to Peer Perform from Underperform at Wolfe Research.
Xeris Biopharma was cut to Neutral from Overweight while its price target was maintained as $3.00 (versus $3.47 prior close) at Piper Sandler.
If you missed out on Friday’s top analyst calls, they were in shares of AppLovin, BofA, Enphase, Pinterest, Rivian, Trade Desk, Under Armour and many more stocks.
