Stocks were indicated to open marginally lower on Tuesday after Monday’s rally. The S&P 500 and Dow are still very close to all-time highs as the election is now just a week away. And earnings season is making many big stock moves. Many investors and traders alike are currently looking for new ideas to be positioned as 2025 approaches. This 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.
Many other calls are being made and this will be updated. These are the top analyst upgrades, downgrades and initiations from Tuesday, October 29, 2024.
Amkor Technology, Inc. (NASDAQ: AMKR) closed down 1.1% at $29.53 but the post-earnings reaction had shares down 11.5% at $26.12 in early trading indications on Tuesday. Amkor was maintained as Buy but its price target was cut to $34 from $45 at Needham. Morgan Stanley maintained its Equal-Weight rating but slashed its price target down to $26 $35 in its call. Amkor has a 52-week range of $17.58 to $44.86.
AppLovin Corporation (NASDAQ: APP) was started as Overweight with a $200 price target (versus $166.18 prior close) at Wells Fargo.
Arcosa, Inc. (NYSE: ACA) started as Overweight with a $106 price target (versus $95.43 prior close) at Barclays.
Boot Barn Holdings, Inc. (NYSE: BOOT) was last seen down 6.3% at $151.00 after earnings, but the stock had been down over 10% at one point in Monday’s after-hours session on word its CEO is leaving to run Ross Stores. Boot Barn had just been named Bull of the Day at Zacks on Monday. Now BTIG has reiterated its Buy rating and raised its price target to $185 from $165 based on the outlook ahead.
CEMEX, S.A.B. de C.V. (NYSE: CX) was down 8.7% to $5.46 per ADS on Monday as an earnings miss and guidance disappointed investors. CEMEX was downgraded to Neutral from Overweight and its ADS target was cut to $6 from $7 at JPMorgan.
Coca-Cola FEMSA (NYSE: KOF) was raised to Buy from Neutral and its price target was raised to $102 from $93 (versus $84.40 prior close) at Citigroup.
CyberArk Software Ltd. (NASDAQ: CYBR) was named as the Bull of the Day at Zacks. The firm noted that CyberArk is enjoying a snowball of demand and that it had subscription revenue of $158.4 million throughout its latest period. Its shares closed down 0.8% at $287.75 on Monday and its 52-week range is $156.78 to $308.63.
DoubleVerify Holdings, Inc. (NYSE: DV) was started as Underweight with a $14 price target (versus $17.46 prior close) at Wells Fargo. DoubleVerify shares were indicated down 1.1% at $17.25 on Tuesday.
Evergy, Inc. (NASDAQ: EVRG) was started as Outperform with a $67 price target (versus $60.97 prior close) at Mizuho.
First Solar, Inc. (NASDAQ: FSLR) was raised to Buy from Neutral with a $260 price target (versus $205.03 prior close) at Janney. First Solar was indicated up 1% at $207.25 on Tuesday in early trading.
Genelux Corporation (NASDAQ: GNLX) was started with a Buy rating and $8.00 price target at Guggenheim. Genelux closed up 16% at $2.96 on Monday after a 6.8% stake was reported by Highbridge Capital Management on Friday afternoon.
HIVE Digital Technologies Ltd. (NASDAQ: HIVE) was started as Overweight with a $9.00 price target at Cantor Fitzgerald. The Canadian crypto-mining outfit was up 13.2% at $4.11 on Monday and its shares were last seen up 4% at $4.28 in early trading Tuesday morning.
ON Semiconductor Corporation (NASDAQ: ON) was up 1.4% at $72.24 on Monday and down 0.3% at $72.00 on Tuesday. ON Semiconductor was maintained as Buy but its target was cut to $87 from $92 at Needham. Benchmark maintained an Underweight rating and $90 target. Morgan Stanley maintained its Underweight rating but lifted its price target to $64 from $63.
Taiwan Semiconductor Manufacturing Company (NYSE: TSM) fell 4.3% to $194.68 on Monday on news that its chips were found in Huawei processors. Taiwan Semi was reiterated as Buy at Citigroup with the firm seeing another 30% earnings growth level in 2025.
Tapestry, Inc. (NYSE: TPR) closed at $50.47 on Monday and was indicated down almost 1% at $49.95 on Tuesday after last week’s Capri merger was blocked for the second time. Its shares are still up about 10% from before that merger block was announced. TD Cowen downgraded Tapestry to Hold from Buy but maintained its $52 price target.
T-Mobile US, Inc. (NASDAQ: TMUS) was reiterated as Overweight and its price target was raised up to $239 from $209 (versus $227.81 prior close) at Morgan Stanley. T-Mobile US was indicated up 0.4% at $2228.80 on Tuesday.
The Trade Desk, Inc. (NASDAQ:: TTD) was started as Overweight with a $150 price target at Wells Fargo. Trade Desk shares closed down 0.4% at $118.98 ahead of the call and its stock was indicated up 1.2% at $120.39 early on Tuesday.
TG Therapeutics, Inc. (NASDAQ: TGTX) was started with a Buy rating and $50 price target at Guggenheim. TG Therapeutics closed up 4.25 at $24.35 on Monday and was indicated up another 2.2% at $24.90 in early Tuesday trading indications.
Ulta Beauty, Inc. (NASDAQ: ULTA) was named the Bear of the Day at Zacks, with the firm noting that its shares have been hit hard with a 23% drop in 2024 and questioning if it can recover its mojo. Ulta closed up 1.8% at $380.08 on Monday with a 52-week range of $318.17 to $574.76.
V.F. Corporation (NYSE: VFC) closed up 1.8% at $17.03 ahead of earnings and it was indicated up 19% at $20.25 as a positive earnings swing is viewed as a successful turnaround strategy. VFC was reiterated as Market Perform but its price target was raised to $21 from $19 at Telsey Advisory.
Monday’s Top Analyst Upgrades and Downgrades were in shares of Antero, Baidu, Bowlero, CDW, Ciena, CME, NIO, Tesla and many more stocks.
