Stocks were flat on Monday despite an earnings warning from Stellantis and ahead of a pending U.S. port strike on the East Coast and in the Gulf. With the U.S. rate-cutting cycle now underway and with China stimulating its economy, investors and traders alike are looking for new ideas to be positioned for the coming months and into 2025.
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 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 30, 2024.
Accenture plc (NYSE: ACN) was raised to Buy from Hold and its price target was raised to $400 from $321 at TD Cowen.
Cadence Bank (NYSE: CADE) was raised to Overweight from Equal-Weight and its price target was raised to $39 from $36 at Morgan Stanley.
CMS Energy (NYSE: CMS) was reiterated as Overweight and its price target was raised to $76 from $73 at KeyBanc Capital Markets.
Constellation Energy Corporation (NYSE: CEG) was reiterated with an Overweight rating and its price target was raised to $279 from $265 at KeyBanc Capital Markets.
Duke Energy Corporation (NYSE: DUK) was reiterated as Overweight and its price target was raised to $125 from $121 at KeyBanc Capital Markets.
Entergy Corporation (NYSE: ETR) was reiterated as Overweight and its price target was raised to $140 from $130 at KeyBanc Capital Markets.
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FirstEnergy Corporation (NYSE: FE) was reiterated as Overweight and its price target was raised to $47 from $46 at KeyBanc Capital Markets.
GE HealthCare Technologies Inc. (NYSE: GEHC) was reiterated as Buy and its price target was raised to $102 from $100 (versus $91.99 prior close) at Stifel.
Hess Corporation (NYSE: HES) was raised to Outperform from Peer Perform with a $150 price target at Wolfe Research.
International Business Machines Corporation (NYSE: IBM) was reiterated with a Buy rating and its price target was raised to $250 from $220 (versus $220.84 prior close) at Goldman Sachs.
JPMorgan Chase & Co. (NYSE: JPM) was downgraded to Equal-Weight from Overweight at Morgan Stanley.
Meta Platforms, Inc. (NASDAQ: META) was reiterated with a Buy rating and its price target was raised to $620 from $570 (versus $567.36 prior close) at Monness Crespi Hardt.
Oracle Corporation (NYSE: ORCL) was reiterated as Outperform and its price target was raised to $202 from $201 at Bernstein.
PepsiCo, Inc. (NYSE: PEP) was maintained with a Buy rating but its price objective was cut to $185 from $190 at BofA Securities.
Permian Resources Corporation (NYSE: PR) was started with a Buy rating and was given a $19 price target (versus $13.51 prior close) at Goldman Sachs.
Robinhood Markets, Inc. (NASDAQ: HOOD) was reiterated with a Buy rating and its target price was raised to $217 from $24 (versus $23.89 prior close) at Deutsche Bank.
Roku, Inc. (NASDAQ: ROKU) was maintained with a Neutral rating but its price target was raised up to $75 from $56 at RW Baird.
US Bancorp (NYSE: USB) was raised to Overweight from Equal-Weight and its price target was raised to $57 from $54 at Morgan Stanley.
Verastem, Inc. (NASDAQ: VSTM) was started with a Buy rating and was assigned a $13 price target (versus $2.69 prior close) at Guggenheim. Verastem closed up 3% at $2.69 on Friday and was indicated up almost 8% at $2.90 on Monday.
Walmart, Inc. (NYSE: WMT) was reiterated as Outperform and its price target was raised to $90 from $82 (versus $79.78 prior close) at R.W. Baird.
Zeta Global Holdings Corporation (NASDAQ: ZETA) was reiterated with a Buy rating and its price target was raised to $36 from $33 (versus $29.51 prior close) at Needham.
Zions Bancorporation (NASDAQ: ZION) was raised to Equal-Weight from Underweight with a $54 price target at Morgan Stanley.
Oggonomics tracked 13 MAJOR ANALYST DOWNGRADES TO SELL in the last week alone and some of the calls were very much against the grain.
