Stocks were flat to lower early on Friday morning, but the report of lower Producer Prices sent stocks surging higher on more hope that inflation in the coming months will be even tamer. Many investors and traders are looking for new ideas to be positioned for the coming months and into 2025. That is where the top analyst upgrades, downgrades and initiations come into play.
Oggonomics searches the daily flow of analyst calls covering the upgrades and downgrades from Wall Street as one of the tools for new ideas. These Wall Street research reports and other research reports 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 in those reports. Short-term traders get a glimpse of immediate price reactions to news and to the analyst calls.
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 Friday, October 11, 2024. Due to the sheer number of calls seen in the morning, only the top companies have been featured this Friday.
Advanced Micro Devices Inc. (NASDAQ: AMD) was reiterated as Overweight and its price target as raised to $200 from $175 at Piper Sandler.
Affirm Holdings, Inc. (NASDAQ: AFRM) was raised to Overweight from Equal-Weight and its price target as raised to $52 from $44 at Wells Fargo.
Alphabet Inc. (NASDAQ: GOOGL) was started as Sector Outperform with a $212 price target at Scotiabank.
Amazon.com Inc. (NASDAQ: AMZN) was started with a Buy rating and was given a $260 price target at Pivotal Research. Amazon was also started as Sector Perform with a $245 price target at Scotiabank.
ArcelorMittal (NYSE: MT) was downgraded to Neutral from Overweight at JPMorgan.
Cinemark Holdings, Inc. (NYSE: CNK) was reiterated as Overweight and its price target was raised to $35 from $29 at Morgan Stanley.
The Coca-Cola Company (NYSE: KO) was reiterated as Overweight and to $74 from $70 at Barclays.
CVS Health Corporation (NYSE: CVS) was reiterated as Buy and its target was raised to $76 from $66 at Truist Securities.
Delta Airlines, Inc. (NYSE: DAL) was reiterated as Overweight and its price target was raised up to $80 from $68 at JPMorgan.
eBay Inc. (NASDAQ: EBAY) was reiterated as Outperform and its target went to $70 from $62 at RW Baird.
Ferrari NV (NYSE: RACE) was raised to Overweight from Neutral and its price target was raised up to $525 from $385 at JPMorgan.
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Flywire Corporation (NASDAQ: FLYW) was cut to Equal Weight from Overweight at Wells Fargo.
General Dynamics Corp. (NYSE: GD) was downgraded to Neutral from Buy at Seaport Global.
Humana Inc. (NYSE: HUM) was reiterated as Hold and its target was cut to $260 from $400 at Truist Securities.
Intuitive Surgical (NASDAQ: ISRG) was reiterated as Overweight and its price target was raised up to $575 from $495 at JPMorgan.
Keurig Dr. Pepper (NYSE: KDP) was reiterated as Overweight and to $41 from $37 at Barclays.
Kinder Morgan Inc. (NYSE: KMI) was raised to Buy from Neutral and the price objective was raised to $27 from $23 at BofA Securities.
Meta Platforms Inc. (NASDAQ: META) was started as Sector Perform with a $585 price target at Scotiabank. Roth MKM reiterated its Buy rating and raised its target to $620 from $550.
Mobileye Global Inc. (NASDAQ: MBLY) was cut to Neutral from Outperform at Mizuho.
Netflix Inc. (NASDAQ: NFLX) was reiterated as Outperform and its price target was raised to $795 from $695 at Macquarie.
NVIDIA Corporation (NASDAQ: NVDA) was reiterated as Buy and its price target was raised to $150 from $135 at Goldman Sachs. This is much more positive than another team inside Goldman Sachs’ views on the real growth and contribution of AI ahead.
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Palo Alto Networks, Inc. (NASDAQ: PANW) was reiterated as Overweight and its price target was raised to $421 from $390 at Morgan Stanley.
Schlumberger Limited (NYSE: SLB) was reiterated as Positive but its target was cut to $60 from $79 at Susquehanna. Stifel maintained its Buy rating but cut its target to $62 from $65.
Sociedad Quimica (NYSE: SQM) was downgraded to Neutral from Overweight at JPMorgan.
The Trade Desk, Inc. (NASDAQ: TTD) was reiterated as Outperform and its price target was raised to $130 from $115 at Macquarie.
Tractor Supply Company (NASDAQ: TSCO) was reiterated as Overweight and its price target was raised to $325 from $295 at Wells Fargo.
Walgreens Boots Alliance (NASDAQ: WBA) was reiterated as Underweight and its price target was cut to $7 from $9 at Morgan Stanley.
Wynn Resorts, Limited (NASDAQ: WYNN) was reiterated as Positive but its target was raised to $122 from $92 at Susquehanna.
Thursday’s top analyst upgrades and downgrades was also a long list — AIG, Arcadium, CVS, GSK, Microsoft, Netflix, Nike, NVIDIA, PayPal and over a dozen more stocks.
