The uncertainty regarding the pace of economic recovery has added to the volatility in the stock market. Amid volatility, TipRanks brings you the latest analyst action on some of your favorite stocks to help you navigate through the ups and downs. Let’s look into the top bullish and bearish calls of the day and see what the Wall Street experts are recommending.
Upgrades
Stifel Nicolaus analyst Scott Devitt turned bullish on Alphabet (GOOGL) and lifted the price target to $2,350 from $2,025. In a note to investors, Devitt said, “The resilience and speedy recovery of Alphabet’s digital advertising businesses through the course of the pandemic has impressed us. The bounce in advertising dollar flows have followed online consumer engagement, a quick return and redistribution of advertiser appetite, and digital transaction proliferation.” Devitt added, “Looking forward, we have increased confidence in Alphabet’s positioning to benefit from category recovery (travel, entertainment, media, auto) and more durable share capture in categories such as retail due to relevance as an internet gatekeeper.”
Furthermore, TipRanks data shows that financial blogger opinions are 97% Bullish, compared to a sector average of 69%.
Deutsche Bank analyst David Begleiter upgraded Ecolab (ECL) from Hold to Buy and raised the price target to $250 from $225. He believes that the company is now in a “stronger” position than last year, while its competitive positioning has improved. Furthermore, Begleiter expects growth to accelerate in the institutional business in the coming years.
Overall, the Street has a cautiously optimistic outlook on the stock with a Moderate Buy consensus rating based on 3 Buys and 5 Holds. The average analyst price target of $228.17 implies upside potential of about 6.4% to current levels.
Credit Suisse analyst Douglas Mitchelson raised ViacomCBS (VIAC) rating to Hold from Sell, as he believes that the first of 2021 to be “positively biased” for VIAC. He added that 2021 estimates look “reasonable” if not “conservative.” Mitchelson also maintained a price target of $46 on the stock.
Furthermore, TipRanks data shows that financial blogger opinions are 86% Bullish, compared to a sector average of 64%.
KBW analyst Brady Gailey upgraded Texas Capital (TCBI) to Buy from Hold, citing its valuation. In a note to investors, the analyst said that its shares are trading at a discount relative to its peers and offer healthy upside. Gailey reiterated a price target of $86 on the stock.
Turning now to the rest of the Wall Street community, Texas Capital has a Hold consensus rating based on 7 Holds, 1 Buy and 1 Sell. The average analyst price target of $76.25 implies upside potential of 10.5% to current levels.
Truist Financial analyst Youssef Squali upgraded Twitter (TWTR) to Buy from Hold and raised the price target to $74 from $64. The analyst said that the company’s products and platform are gaining traction. Meanwhile, its double-digit growth in mDAU and attractive valuation support his bullish view.
On TipRanks’ Smart Score ranking, Twitter gets a 7 out of 10, suggesting that the stock is likely to perform in-line with market expectations.
Downgrades
Maxim Group analyst Jason McCarthy downgraded Co-Diagnostics (CODX) to Hold from Buy. The analyst said that its growth has peaked, and he expects its revenues to mark modest growth in 2021. McCarthy added that the COVID-19 related success is “likely priced in the stock.”
On TipRanks’ Smart Score ranking, Co-Diagnostics gets a 3 out of 10, suggesting that the stock is likely to underperform market expectations.
Sidoti analyst Mitra Ramgopal lowered the rating to Hold from Buy on Transcat (TRNS) following the stock’s recent run-up. The analyst maintained a price target of $54 and said that the positives are already priced into the stock.
On TipRanks’ Smart Score ranking, Transcat gets a 7 out of 10, suggesting that the stock is likely to perform in-line with market expectations.
Morgan Stanley analyst Javier Martinez Olcoz Cerdan downgraded Adecoagro (AGRO) from Buy to Hold. In a note to investors, the analyst said that he sees “limited upside” to sugar prices in the near term. The analyst also sees a “more balanced risk/reward” ratio on the stock.
The analyst has raised the price target from R$30 to R$31 or price target of $9.00, which implies upside potential of 15.5% to current levels.
BMO Capital analyst James Fotheringham downgraded Ares Management (ARES) to Hold from Buy and lowered the price target to $59 from $60 citing valuation concerns. Fotheringham said that Ares’ positives are baked into its premium multiple.
TipRanks’ Stock Investors tool shows that investors currently have a Very Negative stance on ARES, with 4.6% of investors reducing their exposure to ARES stock over the past seven days.
Merrill Lynch analyst Alastair Ryan downgraded Credit Suisse (CS) to Hold from Buy. The analyst sees limited operating leverage and “extensive rebuilding ahead.”
TipRanks’ Stock Investors tool shows that investors currently have a Very Negative stance on CS, with 3.1% of investors reducing their exposure to CS stock in the last seven days.
Besides the above, you can also have a look at the following:
3 Big Dividend Stocks Yielding at Least 8%; Analysts Say ‘Buy’
Co-Diagnostics Sales Will Slow, But the Stock Is Still a ‘Buy,’ Says Analyst
Solid Insider Buying Puts These 2 Stocks in Focus
Novavax’s Production Problems Are Overblown, Says Analyst
