Stocks were indicated to open marginally higher on Tuesday, but with futures showing gains of about 0.2% and little major news the direction of the day did not seem set in stone. 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 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.
Long-term investors get a picture of new buy, sell and hold ratings with targets looking a year out. 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 Tuesday, October 8, 2024.
Abbott Laboratories (NYSE: ABT) was started as Outperform with a $130 price target (versus $113.36 prior close) at Oppenheimer.
American Express Co. (NYSE: AXP) was downgraded to Hold from Buy at HSBC.
Anheuser-Busch InBev SA/NV (NYSE: BUD) was downgraded to Hold from Buy but its price target was maintained at $68 (versus $65.02 prior close) at TD Cowen.
CME Group, Inc. (NASDAQ: CME) was reiterated with an Overweight rating and its price target was raised to $240 from $225 at Piper Sandler.
Constellation Brands, Inc. (NYSE: STZ) was downgraded to Hold from Buy and its target price was cut to $270 from $300 (versus $243.07 prior close) at TD Cowen.
First Solar, Inc. (NASDAQ: FSLR) was maintained with a Buy rating bit its price objective was lowered down to $321 from $34 at BofA Securities.
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Frontier Communications Parent, Inc. (NASDAQ: FYBR) was downgraded to Hold from Buy at TD Cowen.
Intercontinental Exchange Inc. (NYSE: ICE) was reiterated with an Overweight rating and its price target was raised to $180 from $170 at Piper Sandler.
Marketaxess Holdings Inc. (NASDAQ: MKTX) was reiterated with a Neutral rating and its price target was raised to $265 from $235 at Piper Sandler.
Micron Technology, inc. (NASDAQ: MU) was maintained with an Overweight rating but its price target was cut to $135 from $145 (versus $102.91 prior close) at KeyBanc Capital Markets.
NASDAQ. Inc. (NASDAQ: NDAQ) was reiterated with an Overweight rating and its price target was raised to $80 from $73 at Piper Sandler.
Phillips 66 (NYSE: PSX) was reiterated with an Overweight rating and its price target was raised to $144 from $136 at Piper Sandler.
Qualcomm, Inc. (NASDAQ: QCOM) was downgraded to Sector Weight from Overweight at KeyBanc Capital Markets.
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Synaptics Inc. (NASDAQ: SYNA) was downgraded to Sector Weight from Overweight at KeyBanc Capital Markets.
SolarEdge Technologies, Inc. (NASDAQ: SEDG) was reiterated as Equal-Weight but its price target was lowered down to $23 from $28 at Morgan Stanley.
Tetra Tech, Inc. (NASDAQ: TTEK) was reiterated with an Overweight rating and its price target was raised to $56 from $49 at KeyBanc Capital Markets.
Tradeweb Markets Inc. (NASDAQ: TW) was reiterated with a Neutral rating and its price target was raised to $127 from $112 at Piper Sandler.
Virtu Financial, Inc. (NASDAQ: VIRT) was reiterated with an Overweight rating and its price target was raised to $35 from $31 at Piper Sandler.
Wells Fargo & Co. (NYSE: WFC) was raised to Outperform from Peer Perform with a $65 price target (versus $57.16 prior close) at Wolfe Research.
