Stocks were indicated marginally higher on Monday after last week’s post-Fed rate cut gains. Investors and traders alike are continuing to look for new ideas to be positioned for the coming months and into 2025 for lower interest rates.
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 its readers and all investors that no single analyst report should ever be used as the sole reason to buy or sell a stock. The decision to buy, sell or hold needs to be made by each investor along with their financial advisor.
These are some of the top analyst upgrades and downgrades seen on Monday, September 23, 2024.
Ameresco, Inc. (NYSE: AMRC) was reiterated with an Outperform rating and its price target was raised to $42 from $32 at R.W. Baird.
Applied Industrial Technologies, Inc. (NYSE: AIT) was reiterated with an Overweight rating and its price target was raised to $245 from $215 (versus $218.77 prior close) at KeyBanc Capital Markets.
Bank of New York Mellon (NYSE: BK) was reiterated as Buy and its price target was raised to $80 from $66 at Deutsche Bank.
CAVA Group, Inc. (NYSE: CAVA) was reiterated with a Buy rating and its price target was raised to $130 from $115 (versus $128.79 prior close) at TD Cowen.
CG Oncology, Inc. (NASDAQ: CGON) was started as Outperform with a $66 price target (versus $39.00 prior close) at RBC Capital Markets.
Constellation Energy Corporation (NYSE: CEG) rose 22% on Friday to $254.98 on its nuclear energy rekindling. Constellation Energy was reiterated with a Overweight rating and its price target was raised to $265 from $230 at KeyBanc Capital Markets. Morgan Stanley reiterated its Overweight rating and raised its target raised to $313 from $233.
ALSO READ: More Utilities Become Strategic buys on Rate Cuts!
CrowdStrike Holdings, Inc. (NASDAQ: CRWD) was reiterated with an Overweight rating and its price target was raised to $345 from $300(versus $299.85 prior close) at KeyBanc Capital Markets. CrowdStrike was indicated up almost 3% at $262.50 on Monday.
FedEx Corporation (NYSE: FDX) was maintained with a Buy rating but its price target was cut to $288 from $317 at Loop Capital.
Fiserv, Inc. (NYSE: FI) was reiterated with an Outperform rating and its target price was raised to $200 from $186 (versus $177.61 prior close) at R.W. Baird.
Flutter Entertainment plc (NYSE: FLUT) was started with a Buy rating and a $270 price target (versus $231.86 prior close) at Needham & Co.
General Motors Company (NYSE: GM) was downgraded to Market Perform with a $53 price target (versus $48.88 prior close) at Bernstein.
GoDaddy Inc. (NYSE: GDDY) was downgraded to Neutral from Overweight but its price target was still raised to $172 from $160 (versus $160.55 prior close) at Piper Sandler.
Kratos Defense and Security Solutions Inc. (NASDAQ: KTOS) was reiterated with an Outperform rating and its price target was raised to $35 from $22 (versus $22.91 prior close) at R.W. Baird.
Microsoft Corporation (NASDAQ: MSFT) was downgraded to Neutral from Buy with the same $475 price target at D.A. Davidson.
ALSO READ: Why This Rate-Cut Cycle Looks So Strong
PayPal Holdings, Inc. (NASDAQ: PYPL) was reiterated as Buy and its price target was raised to $94 from $74 at Deutsche Bank.
Public Service Enterprise Group Incorporated (NYSE: PEG) was reiterated as Overweight and its price target was raised to 95 from $83 (versus $86.76 prior close) at Morgan Stanley.
Sinclair, Inc. (NASDAQ: SBGI) was reiterated with a Buy rating and its price target was raised to $30 from $29 at (versus $14.67 prior close) at Benchmark. Sinclair was last seen up 6% at $15.55.
The Trade Desk, Inc. (NASDAQ: TTD) was started as Neutral with a $100 price target (versus $109.51 prior close) at MoffettNathanson.
Ulta Beauty, Inc. (NASDAQ: ULTA) was downgraded to Hold from Buy with a $395 price target (versus $402.01 prior close) at TD Cowen.
Vistra Corp. (NYSE: VST) was reiterated as Overweight and its price target was raised to $132 from $110 (versus $107.88 prior close) at Morgan Stanley.
Wix.com Ltd. (NASDAQ: WIX) was raised to Overweight from Neutral and its price target was raised to $200 from $184 (versus $160.64 prior close) at Piper Sandler.
If you missed last Friday’s top analyst upgrades and downgrades, they were in shares of CyberArk, Darden, FedEx, Intuitive Machines, Nike, Peloton, Pepsi, Sunrun and many more stocks.
If you want to know the history of rate cuts (and hikes) AND how the markets treated each cycle in the last two generations that review is here.
