The futures were slightly higher on Tuesday after a wild day Monday that saw some big moves in all of the major indexes, and the Nasdaq and the Russell 2000 again posting intraday and closing all-time highs. With fourth-quarter earnings reports continuing to stream in, most across Wall Street will not only be examining the results but also looking to see what guidance for the first quarter and the rest of 2021 looks like. With all of the major indexes and the Russell 2000 closing still very close to all-time highs, it makes sense for investors to start building some cash reserves while repositioning portfolios for 2021, as a pullback could be in the offing.
24/7 Wall St. reviews dozens of analyst research reports each day of the week with a goal of finding new ideas for investors and traders alike. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock. Consensus analyst target data is from Refinitiv.
These are the top analyst upgrades, downgrades and initiations seen on Tuesday, January 26, 2021.
Activision Blizzard Inc. (NASDAQ: ATVI) was started at Raymond James with an Outperform rating and a $109 price target. The Wall Street consensus target is $99.25. The shares closed Monday at $93.40.
Allogene Therapeutics Inc. (NASDAQ: ALLO) was upgraded to Buy from Hold at Stifel, which also lifted the price target to $43. The higher consensus target is $49.69. The stock closed Monday at $32.98, up over 7% on the day.
Bank of America Corp. (NYSE: (BA)C) was raised from Neutral to Overweight with a $40 price target at Atlantic Equities. The consensus target for the ubiquitous money center bank is $35.74. The stock was last seen on Monday at $31.16.
Blackberry Ltd. (NYSE: BB) was downgraded from Sector Perform to Underperform with a $7.50 price target at RBC Capital Markets. The consensus target is $7.86. The shares exploded almost 30% higher on Monday to close at $18.03 and were up another 10% in Tuesday’s premarket trading.
Citizens Financial Services Inc. (NASDAQ: CZFS) was raised to Buy from Neutral at Janney, which has set a $63 price target. The consensus target is $52.73, and the final Monday trade came in at $55.50.
Colgate-Palmolive Co. (NYSE: CL) was raised to Hold from Sell at Berenberg. The consumer staples giant has traded in a 52-week range of $58.49 to $86.41 and has an $84.60 consensus price target. Monday’s last trade came in at $78.61.
Delek US Holdings Inc. (NYSE: DK) was downgraded to Sell from Neutral at Goldman Sachs, which dropped the price target to $16. That compares with a $17.53 consensus and Monday’s $21.35 close.
Dollar General Corp. (NYSE: DG) was raised from Hold to Buy with a $260 price objective at Loop Capital. The lower consensus target is $237.62. The last trade on Monday came in at $206.57.
Dominion Energy Inc. (NYSE: D) was raised at Wells Fargo from Equal Weight to Overweight with an $83 price target. The consensus target for the utility giant is also $83. The stock closed on Monday at $73.56.
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DraftKings Inc. (NASDAQ: DKNG) was raised to Buy from Neutral at Goldman Sachs, which has a $65 price target. The consensus target is $60.67. The last trade on Monday hit the tape at $51.29. Shares were trading up almost 5% in premarket action.
Echo Global Logistics Inc. (NASDAQ: ECHO) was downgraded to Neutral from Positive at Susquehanna, which also lowered the price target to $32. The consensus target is $33.09 and the final print on Monday was at $30.53.
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Electronic Arts Inc. (NYSE: EA) was started at Raymond James with an Outperform rating and a $164 price target. The consensus target for the video game giant is $148.40. The closing price on Monday was $146.30 a share.
Fiverr International Ltd. (NASDAQ: FVRR) was downgraded from Neutral to Sell with a $185 price target at MKM Partners. The consensus target is a much higher $212.67. The last trade on Monday was reported at $235.61, down almost 4% on the day.
Match Group Inc. (NASDAQ: MTCH) was named as the Zacks Bear of the Day stock. The firm said that shares have slipped sharply, which means Wall Street might be down on the stock at the moment and its near-term outlook is tough. Shares last closed at $139.42 and have a consensus price target of $ 152.06.
Micron Technology Inc. (NASDAQ: MU) was named as the Bull of the Day at Zacks, which said that this stock has soared over the past several months and its impressive fiscal first-quarter results showcased why the memory chip powerhouse might have more room to run. Shares most recently closed at $81.28 and have a consensus price target of $96.48.
Microsoft Corp. (NASDAQ: (MSFT)) was resumed in coverage at Raymond James with a Strong Buy rating and a $235 price target. The posted consensus target for the legacy software behemoth is $244.25. The last trade on Monday came in at $229.53.
Northern Oil & Gas Inc. (NYSE: NOG) was started with an Outperform rating and a $14 price target at RBC Capital Markets. The consensus target is $13.89. The shares ended Monday at $10.45 and were up almost 2% in premarket trading.
Pinduoduo Inc. (NASDAQ: PDD) was downgraded to Sector Weight from Overweight at KeyBanc Capital Markets. The shares have traded in a wide 52-week range of $30.20 to $195.11 and have a $156.04 consensus target. With the stock closing almost 5% higher Monday at $180.43, this looks like a valuation call.
PPG Industries Inc. (NYSE: PPG) was raised at (BofA) Securities from Neutral to Buy with a $160 price target. The consensus target is $156.22. The stock closed at $140.60 on Monday.
Sonoco Products Co. (NYSE: SON) was downgraded to Market Perform from Outperform at BMO Capital Markets, which also lowered the price target to $65. The consensus target is $64.00 and the final print on Monday was $61.23.
Under Armour Inc. (NYSE: UAA) was raised from Market Perform to Outperform with a $23 price target at Cowen. That compares with a lower consensus target of $15.36 and Monday’s close at $18.64.
Western Midstream Partners L.P. (NYSE: WES) was raised to Neutral from Underperform at (BofA) Securities, which as a $16 price target. The consensus target is $17.80, and the shares closed trading Monday at $15.09.
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Monday’s early top analyst upgrades and downgrades included American Eagle Outfitters, Baidu, GameStop, Halliburton, Mosaic, Regeneron Pharmaceuticals, Salesforce.com, Take-Two Interactive Software and Wells Fargo. Analyst calls made later in the day featured Alphabet, Apple, Roku, Tesla and more.
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