Stocks tried to stay positive after a tame inflation report but profit-taking after some huge post-election gains seems to be in the air. This is after the Dow, S&P500 and NASDAQ all hit fresh record highs. Many investors and traders are looking for new ideas to be positioned 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 Wednesday, November 13, 2024.
Airship AI Holdings, Inc. (NASDAQ: AISP) was started with a Buy rating and assigned a $6.00 price target (versus $3.07 prior close) at Benchmark.
Axalta Coating Systems Ltd. (NYSE: AXTA) was started as Outperform with a $47.00 price target at Evercore ISI Group.
Caterpillar Inc. (NYSE: CAT) was downgraded to Underperform from In-Line but its price target was raised to $365 (versus $393.01 prior close) from $321 at Evercore ISI.
CommVault Systems, Inc. (NASDAQ: CVLT) was initiated with an Outperform rating and assigned a $200.00 price target (versus $169.68 prior close) at Oppenheimer.
Coty Inc. (NYSE: COTY) was downgraded to Hold from Buy at TD Cowen.
Illinois Tool Works (NYSE: ITW) was downgraded to Underperform from In-Line but its price target was raised to $255 from $246 at Evercore ISI.
Jumia Technologies AG (NYSE: JMIA) was started with a Sector Perform rating and was assigned a $5.00 price target at RBC Capital Markets. Jumia closed at $4.01 ahead of the call.
Live Nation Entertainment, Inc. (NYSE: LYV) was reiterated as Buy and its price target was raised to $148 from $132 (versus $129.67 prior close) at Goldman Sachs.
NetApp, Inc. (NASDAQ: NTAP) was initiated with a Perform rating at Oppenheimer.
On Holding AG (NYSE: ONON) was maintained at Outperform and its price target was raised to $63 from $55 at Baird. It was also raised to Buy from Neutral with a $64 price target at BTIG. Additionally, it was reiterated as Buy and its price target was raised to $57 from $50 at Goldman Sachs.
Pure Storage, Inc. (NYSE: PSTG) was initiated with an Outperform rating with a $70.00 price target (versus $50.15 prior close) at Oppenheimer.
Shopify Inc. (NYSE: SHOP) was a huge earnings winner on Tuesday with a 21% gain to $108.92. Shopify had its price target raised to $126 from $90 and was maintained at Outperform by Baird. Its price target was also raised to $130 from $90 and it was maintained at Outperform by Oppenheimer. Piper Sandler reiterated its Neutral rating and raised its price target to $94 from $67. Canaccord Genuity reiterated its Buy rating and raised its target to $125 from $80.
Starbucks Corporation (NASDAQ: SBUX) was downgraded to Sell from Neutral and its price target was cut to $77 from $84 at Redburn Atlantic.
Syros Pharmaceuticals, Inc. (NASDAQ: SYRS) was last seen down over 80% at $0.38 after its lead cancer drug flopped in Phase III trials. Syros was cut from Buy to Neutral by HC Wainwright and was also cut from Market Outperform to Market Perform by JMP Securities.
Teekay Tankers Ltd. (NYSE: TNK) was downgraded to Underperform from Neutral at BofA Securities.
Zeta Global Holdings Corp. (NYSE: ZETA) closed down 23.1% at $28.22 on Tuesday after the earnings report fell short. Zeta Global had its price target raised to $41 from $30 and was maintained at Equal-Weight by Morgan Stanley. The prior day Zeta’s targets were raised as follows: RBC (Outperform) to $43 from $37; Canaccord Genuity (Buy) to $42 from $35; DA Davidson (Buy) to $42 from $39; Truist (Buy) to $42 from $35.
