Stocks were looking lower on Tuesday as international tensions with Russia are hot, and even oil and bond yields are lower as a result. Stocks are still very close to all-time highs and longer-term bond yields are still higher than expected. With a new regime set to lead and make changes many investors and traders alike are trying to figure out how to position their portfolios for 2025. This is where Wall Street research can come into play with Wall Street’s top market pundits having some insights to share.
Oggonomics searches the daily flow of analyst research reports covering the upgrades, downgrades and initiations from Wall Street looking for new ideas. These analyst reports generally try to look out a year out into the future and often have new ideas that might have otherwise been overlooked or missed.
Some analyst calls are just reactionary to earnings and other news, but some analyst calls are preemptive and can move stocks. 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 Tuesday, November 19, 2024.
Aclaris Therapeutics, Inc. (NASDAQ: ACRS) rose 53% to $3.14 after Biosion announced and exclusive global license agreement and after pricing 35.5+ million shares at $2.25 per in a secondary offering. Aclaris was raised to Buy from Neutral with $8 target at BTIG. It was also raised to Overweight from Neutral and its price target was raised to $13 from $3 at Piper Sandler. Jefferies raised its rating on Aclaris to Buy from Hold and raised its price target to $7 from $2 in its call.
Apollo Global Management, Inc. (NYSE: APO) was initiated at Overweight with a $188 price target (versus $164.31 close) at Piper Sandler.
AppLovin Corporation (NASDAQ: APP) was reiterated as Buy with price target raised to $335 from $185 (versus $298 close) at Citigroup. AppLovin is now closing in on a $100 billion market cap by about 3%.
Archer Aviation Inc. (NYSE: ACHR) was initiated at Buy with $11 price target (versus $4.41 close) at Needham.
Autodesk, Inc. (NASDAQ: ADSK) was initiated at Sector Outperform with $360 price target (versus $302.05 prior close) at Scotiabank.
BioNTech SE (NASDAQ: BNTX) was started as Buy with $130 target at Berenberg; it was also raised to Outperform from In-Line with price target raised to $125 from $110 at Evercore ISI Group. BioNTech shares closed at $101.87 ahead of the call.
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Six Flags Entertainment (NYSE: FUN) was reiterated with a Buy and its price target was raised to $55 from $52 (versus $45.65 prior close) at Guggenheim.
Dayforce Inc. (NYSE: DAY) was initiated at Sector Perform with $75 price target at Scotiabank.
iHeartMedia, Inc. (NASDAQ: IHRT) was reiterated as Buy and its price target was raised to $5 from $3 at Guggenheim. iHeartMedia closed at $2.22 ahead of the call.
Intuit Inc. (NASDAQ: INTU) was initiated with a Sector Perform rating and was assigned a $700 target price (versus $678.81 prior close) at Scotiabank.
Joby Aviation, Inc. (NYSE: JOBY) was initiated with a Buy rating with an $8 price target (versus $5.61 prior close) at Needham.
The Kraft Heinz Company (NASDAQ: KHC) was downgraded to Neutral from Overweight with price target cut to $35 from $40 (versus $31.07 close) at Piper Sandler.
MicroStrategy, Inc. (NASDAQ: MSTR) was reiterated as Buy and its price target was raised to $450 from $300 at Benchmark. MicroStrategy closed up almost 13% at $384.79 ahead of the call.
Moderna, Inc. (NASDAQ: MRNA) was initiated with a Hold rating and with a $42 price target at Berenberg. Moderna closed up 7.2% at $39.51 ahead of the call.
Netflix, Inc. (NASDAQ: NFLX) was reiterated with an Outperform rating and its price target was raised to $950 from $800 (versus $847.05 close) at Wedbush.
NVIDIA Corporation (NASDAQ: NVDA) was reiterated as Buy and its price target was raised to $167 from $128 at Truist Securities. NVIDIA was also reiterated as Buy and its price target was raised to $180 from $165 at Stifel.
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QuantumScape Corporation (NYSE: QS) was raised to Hold from Reduce with $5.30 target (versus $4.73 prior close) at HSBC.
Sabre Corporation (NASDAQ: SABR) was downgraded to Underperform from Market Perform with a $3 price target (versus $3.79 prior close) at Bernstein.
Salesforce, Inc. (NYSE: CRM) was initiated at Sector Outperform with a $425 target price (versus $322.25 close) at Scotiabank.
Sprout Social Inc. (NASDAQ: SPT) was started at Sector Perform at Scotiabank.
United Airlines Holdings, Inc. (NYSE: UAL) was reiterated with a Buy rating and its price target was raised to $125 from $100 (versus $90.38 prior close) at TD Cowen.
WeRide Inc. (NASDAQ: WRD) was initiated as Overweight with a $23 price target (versus $18.33 prior close) at Morgan Stanley.
Workday, Inc. (NASDAQ: WDAY) was initiated at Sector Outperform with a $340 price target (versus $259.36 prior close) at Scotiabank.
ZoomInfo Technologies, Inc. (NASDAQ: ZI) was initiated at Sector Perform with a $10.30 target price (versus $9.71 prior close) at Scotiabank.
Monday’s top analyst rating changes included shares of Biogen, Cloudflare, Coinbase, Newmont, Plug Power, Robinhood and many more stocks.
