Stocks were indicated to open 0.2% to 0.4% for major U.S. equity indexes on Monday. The election is now just a week away and many investors and traders are now 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.
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, October 28, 2024.
AAON, Inc. (NASDAQ: AAON) was upgraded to Outperform from Neutral and its price target was raised to $130 from $114 at RW Baird.
Antero Resources Corporation (NYSE: AR) was started as Buy at BofA Securities with a $36 price objective. Antero closed up 0.18% at $27.74 on Friday but was indicated down 2.6% at $27.02 on broad oil and gas weakness on Monday morning.
Baidu, Inc. (NASDAQ: BIDU) was named as the Bear of the Day at Zacks, noting that China stimulus package announced in September and then discussed again in October was exciting but there are many questions about the huge fade.
Boot Barn Holdings, Inc. (NYSE: BOOT) was named the Bull of the Day at Zacks, noting that’s a women’s shoe outlet about to outpace the market.
Bowlero Corporation (NYSE: BOWL) was started as Neutral with a $12 price target (versus $11.58 prior close) at Piper Sandler.
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CDW Corporation (NYSE: CDW) was downgraded to Neutral from Overweight and its price target as cut to $235 from $260 (versus $217.01 prior close) at JPMorgan.
Ciena Corporation (NASDAQ: CIEN) was downgraded to Equal-Weight from Overweight and its price target was maintained at $63 at Morgan Stanley. Shares of Ciena closed down 2.9% at $64.12 on Friday and the stock was indicated down 2.6% at $62.45 on Monday.
CME Group Inc. (NYSE: CME) was reiterated as Overweight but its price target was raised to $250 from $240 (versus $226.14 prior close) at Piper Sandler.
Frontier Communications Parent, Inc. (NASDAQ: FYBR) was downgraded to Market Perform from Strong Buy at Raymond James.
GlobalFoundries, Inc. (NASDAQ: GFS) was downgraded to Equal-Weight from Overweight and its price target was cut to $43 from $53 at Morgan Stanley. GlobalFoundries closed up 3.4% at $40.40 on Friday and was indicated down 1.2% at $39.90 on Monday.
NIO Inc. (NYSE: NIO) was raised to Outperform from Neutral with a $6.60 price target at Macquarie. NIO closed up 5.6% at $5.26 on Friday and was indicated up 2.5% at $5.40 on Monday.
Nutanix, Inc. (NTNX) closed down 0.7% at $61.59 on Friday but was trading up over 3% at $63.70 on Monday. Nutanix was upgraded to Overweight from Equal-Weight and its price target was raised to $72 from $71 at Morgan Stanley.
Plexus Corp. (NASDAQ: PLXS) was reiterated as Buy and its price target was raised to $165 from $150 (versus $141.19 prior close) at Benchmark.
Serve Robotics Inc. (NASDAQ: SERV) was started with a Buy rating and was assigned a $16 price target at Ladenburg Thalmann. Serve Robotics closed up 2.1% at $9.74 on Friday and was indicated up 2% at $9.94 on Monday.
Tesla, Inc. (NASDAQ: TSLA) was reiterated as Buy and its target as raised to $298 from $278 at Canaccord Genuity. Tesla closed up 3.3% at $269.19 on Friday and was indicated up 0.5% at $270.00 on Monday.
Wayfair Inc. (NYSE: W) was maintained as Overweight but its price target was trimmed down to $63 from $67 (versus $44.39 prior close) at Piper Sandler.
Goldman Sachs is one of the top brokerage and investment banking firms in the world. It also only deals with institutions and high net worth investors. So what does it mean if they are telling clients to only expect 3% on average annualized returns over the next decade?
