Stocks closed mixed on Thursday, but Friday’s index readings were lower by 0.6% on the Dow Jones industrial average and 0.7% on the S&P 500 as stimulus talks are delayed again. What investors are grappling with now is that the equity indexes are still near all-time highs, despite all the caution and concern. COVID-19 cases continue to spike, the election noise is dragging on, the economic recovery is slowing and more benefits are expected to run out very soon. Investors also have to deal with valuations that are hard to justify and market indexes that were very overbought ahead of this weekend.
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 Friday, December 11, 2020.
Broadcom Inc. (NASDAQ: AVGO) stock was down 1.5% at $410.04 per share ahead of earnings, and it was last seen trading down another 1.7% at $403.00 afterward. Rosenblatt reiterated it as Buy and raised its price target to $470 from $430. KeyBanc Capital Markets reiterated its Overweight rating and raised its price target from $410 to $470.
Commscope Holding Co. Inc. (NASDAQ: COMM) was raised to Overweight from Neutral with an $18 target price at JPMorgan. The stock closed up 1.3% at $13.16 a share, and it has a $13.16 consensus target price.
Corning Inc. (NYSE: GLW) was downgraded to Neutral from Overweight at JPMorgan.
Crown Castle International Corp. (NYSE: CCI) was raised to Buy from Hold with a $180 price target at Deutsche Bank.
Enphase Energy Inc. (NASDAQ: ENPH) was started with an Overweight rating and was assigned a $150 price target (versus a $131.21 prior close) at Piper Sandler.
Etsy Inc. (NASDAQ: ETSY) was reiterated as Overweight and its price target was raised to $180 from $160 at KeyBanc Capital Markets. The stock closed up 3.8% at $165.30 per share ahead of this call, and it has a $164.20 consensus target price.
First Solar Inc. (NASDAQ: FSLR) was started with a Neutral rating at Piper Sandler.