Stocks were looking for direction on Monday as Tuesday’s election is finally almost here. The S&P 500 is still within 1% of its all-time high with a 20% gain so far this year, and the NASDAQ and Dow are not that far behind. Many investors and traders are looking for new ideas to be positioned ahead of 2025. This is where Wall Street research can come into play.
Oggonomics searches the daily flow of analyst research reports covering the upgrades, downgrades and initiations from Wall Street looking for new ideas. These analyst calls tend to look a year out into the future and often have 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. And there are of course no assurances that any of the price predictions and the scenarios that back the calls up will actually come to fruition.
These are the top analyst upgrades, downgrades and initiations from Monday, November 4, 2024.
Amazon.com, Inc. (NASDAQ: AMZN) closed up 6.2% at $197.93 on Friday after reacting to Thursday’s earnings report. Monday’s calls included Morgan Stanley reiterating its Overweight rating and raising its price target to $230 from $210. Friday’s calls included price target hikes from Benchmark, BMO, Bernstein, Deutsche Bank, Jefferies, Oppenheimer, RBC, Truist, UBS, Wedbush and others.
Axon Enterprise, Inc. (NASDAQ: AXON) was reiterated as Outperform and its price target was raised to $460 from $440 (versus $425.84 prior close) at RW Baird.
Booz Allen Hamilton (NYSE: BAH) was downgraded to Hold from Buy but its price target was raised to $190 from $180 at Jefferies.
CAVA Group, Inc. (NYSE: CAVA) was reiterated as Outperform and its price target was raised to $148 from $125 (versus $131.53 prior close) at RW Baird.
Charter Communications, Inc. (NASDAQ: CHTR) was raised to Buy from Neutral and its price objective was raised to $450 from $385 (versus $366.49 prior close) at BofA Securities.
Chevron Corporation (NYSE: CVX) was reiterated as Overweight and its price target was raised to $174 from $168 at Barclays. Chevron closed up 2.8% at $153.07 on Friday after earnings and was indicated up 1.1% at $154.80 on Monday.
Comcast Corporation (NASDAQ: CMCSA) was reiterated as Equal Weight but its price target was raised to $42 from $40 at Barclays.
Ecolab Inc. (NYSE: ECL) was downgraded to Neutral from Buy at UBS.
Entergy Corporation (NYSE: ETR) was raised to Equal Weight from Underweight and its price target as raised to $150 from $116 (versus $144.79 prior close) at Morgan Stanley. BofA Securities downgraded Entergy to Neutral from Buy but raised its price objective to $154 from $138 in its call.
Janus International Group, Inc. (NYSE: JBI) was downgraded to Hold from Buy and its price target was slashed to $7.50 from $12 (versus $7.35 prior close) at Jefferies.
Keysight Technologies, Inc. (NYSE: KEY) was raised to Overweight from Equal Weight and its price target was raised to $180 from $158 (versus $151.55 prior close) at Barclays.
KinderCare Learning Companies, Inc. (NYSE: KLC) came public last month at $24 per share. The stock closed down 2.9% at $28.32 on Friday ahead of the quiet period ending, and now the stock was indicated up more than 3% at $29.35 as analysts issued coverage on Monday. Here were some of the top analyst calls seen early on Monday:
- BMO Capital Markets (Outperform, $34 target)
- Goldman Sachs (Buy, $41 target)
- JPMorgan (Overweight, $31 target)
- Morgan Stanley (Equal-Weight, $31 target)
- UBS (Buy, $36 target)
MicroStrategy Incorporated (NASDAQ: MSTR) was reiterated as Overweight and its price target was raised to $275 from $225 at Barclays. MicroStrategy shares closed down 6% at $229.71 on Friday and were indicated down over 2% at $224.75 on Monday.
Nektar Therapeutics (NASDAQ: NKTR) was started with an Overweight rating and was assigned a $7 price target (versus $1.23 prior close) at Piper Sandler.
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Roblox Corporation (NYSE: RBLX) was raised to Overweight from Equal-Weight and its price target was raised to $65 from $38 (versus $51.44 prior close) at Morgan Stanley.
Tencent Music Entertainment Group (NYSE: TME) was started as Outperform with a $14 price target (versus $11.12 prior close) at Bernstein.
Trip.com Group Limited (NASDAQ: TCOM) was started as Outperform with a $85 price target (versus $65.19 prior close) at Bernstein.
Visa Inc. (NYSE: V) was reiterated as Overweight and its price target was raised to $347 from $319 (versus $290.74 prior close) at Barclays.
Wayfair Inc. (NYSE: W) was maintained as Neutral but its price target was cut to $50 from $56 at RW Baird. Wayfair closed down over 6% at $40.15 on Friday and was indicated down 0.4% at $40.00 on Monday.
Zura Bio Limited (NASDAQ: ZURA) was started with a Outperform rating and was assigned a $15 price target (versus $4.38 prior close) at Leerink.
