Stocks were indicated to open marginally lower on Monday after the Dow and S&P 500 have been challenging all-time highs in recent trading days. The election is barely two-weeks away. 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 21, 2024.
ASML Holding N.V. (NASDAQ: ASML) had a rocky week around its earnings and the shares ended the week at $723.26 versus $840.69 the prior week. ASML was maintained as Outperform but its target price was cut to $815 from $1,050 at Bernstein.
BioAge Labs, Inc. (NASDAQ: BIOA) was started as Buy and was assigned a $42 price target (versus $23.86 prior close) at Jefferies. Morgan Stanley started it as Overweight with a $40 price target BioAge has a $18.30 to $25.50 post-IPO range from its September IPO.
Extra Space Storage Inc. (NYSE: EXR) was downgraded to Equal-Weight from Overweight at Wells Fargo.
GE Vernova, Inc. (NYSE: GEV) was started as Buy with a $354 price target (versus $272.72 prior close) at Deutsche Bank.
Gilead Sciences, Inc. (NASDAQ: GILD) was raised to Outperform from Market Perform and its target price was raised to $96 from $74 at Leerink. Gilead closed at $86.87 ahead of the call.
Hims & Hers Health, Inc. (NYSE: HIMS) was reiterated as Buy and its price objective was raised to $25 from $23 (versus $22.15 prior close) at BofA Securities.
International Business Machines Corporation (NYSE: IBM) was maintained with a Hold rating but its price target as raised to $245 from $200 at Jefferies.
JD.com, Inc. (NASDAQ: JD) was raised to Buy from Hold at Loop Capital, but the firm did trim its price target down to $48 from $49 in the call. Shares of JD.com closed up 2.9% at $39.98 on Friday and the stock was indicated down 1.6% at $39.35 on Monday since its stock soared by 50% since China’s stimulus package was announced in September.
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Mohawk Industries, Inc. (NYSE: MHK) was raised to Overweight from Neutral and its price target was raised to $196 from $160 at RW Baird.
Prologis (NYSE: PLD) was downgraded to Neutral from Buy and its price target was cut to $$132 from $142 at Goldman Sachs.
Robinhood Markets, Inc. (NASDAQ: HOOD) was reiterated with an Overweight rating and its price target was raised to $30 from $25 at KeyBanc Capital Markets.
Sarepta Therapeutics, Inc. (NASDAQ: SRPT) was started as Buy with a $165 price target (versus $127.08 prior close) at Jefferies.
Similarweb Ltd. (NYSE: SMWB) was started as Buy with a $11 price target (versus $9.17 prior close) at Needham & Co.
SolarEdge Technologies, Inc. (NASDAQ: SEDG) was downgraded to Hold from Buy and its prior $35 price target was slashed down to $16 at TD Cowen.
Sportradar Group AG (NASDAQ: SRAD) was raised to Overweight from Neutral and its price target was raised to $15 from $12 (versus $12.39 prior close) at JPMorgan.
Taiwan Semiconductor Manufacturing (NYSE: TSM) was reiterated as Buy at Deutsche Bank and its overseas price target was raised from 10.5% implied upside to 20% implied upside.
Ulta Beauty, Inc. (NASDAQ: ULTA) was reiterated as Overweight and its target price was raised to $472 from $450 (versus $368.92 prior close) at JPMorgan.
United Parcel Service (NYSE: UPS) was downgraded to Underweight from Equal Weight with an unchanged price target at Barclays. UPS shares
Warby Parker Inc. (NYSE: WRBY) was raised to Buy from Neutral at Goldman Sachs, noting that strong margin growth is a catalyst after years of spending to buy into the glasses market. Warby Parker closed at $16.55 on Friday with a 52-week range of $9.83 to $17.95.
Zuora, Inc. (NYSE: ZUO) was downgraded to Hold from Buy at Needham & Co.
