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Top Analysts Upgrades and Downgrades: Darden, Foot Locker, Gap, Kellogg, Moderna, Philip Morris, Prologis, Rockwell, Texas Roadhouse and More

24/7 Wall St. logo 24/7 Wall St. 11/23/2020 Lee Jackson

© Provided by 24/7 Wall St. The futures traded smartly higher Monday morning as Wall Street starts to look toward a shortened trading week and the Thanksgiving holiday. Stocks and government bond yields slipped Friday to end a choppy week and snap a two-week winning streak. Investors have been trying to factor in what the markets and economy will look like post-election and post-coronavirus in 2021. Now is the time for investors to be planning how they should be invested for the coming year.

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 Monday, November 23, 2020.

American Electric Power Co. Inc. (NYSE: AEP) was raised to Neutral from Sell at Guggenheim. The shares of the utility giant have traded in a 52-week range of $65.14 to $104.87 and have a Wall Street consensus price objective of $96.94. The last trade on Friday came in at $82.49.

CF Industries Holdings Inc. (NYSE: CF) was raised to Overweight from Equal Weight at Stephens, which also lifted the price target to $44. The consensus target is $35.58. The last trade on Friday was reported at $33.50, up over 4% on the day.

Cosan Ltd. (NYSE: CZZ) saw its price target raised to $19 from $16 at Goldman Sachs, which kept a Neutral rating on the stock. That is versus the consensus target of $19.18. The last trade on Friday was reported at $17.57.

Darden Restaurants Inc. (NYSE: DRI) was raised to Outperform from Neutral at Baird, where the price target was lifted to $132. The consensus price target is $110. The last trade on Friday came in at $108.45.

Dover Corp. (NYSE: DOV) was downgraded from Overweight to Equal Weight with a $134 price objective at Morgan Stanley. The consensus target is $129.58, and the stock was last seen trading at $123.48.

Foot Locker Inc. (NYSE: FL) saw its target price raised to $42 from $38 at Goldman Sachs, which kept a Buy rating on the stock. The consensus target is $40.83, and the closing price on Friday was $39.28.

Franklin Resources Inc. (NYSE: BEN) was downgraded to Market Perform from Outperform at Keefe Bruyette, which has a $23 price target. The consensus target for the mutual fund and investment giant is $21.11. Shares ended Friday at $20.59 apiece.

Gap Inc. (NYSE: GPS) was raised from Neutral to Overweight with a $30 price target at JPMorgan. The posted consensus target is $22.65. The stock closed Friday at $24.37 a share.


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Good RX Holdings Inc. (NASDAQ: GDRX) saw its price target lowered to $44 from $49 at Goldman Sachs, which kept a Neutral rating on the shares. That compares with a much higher consensus target of $50 and a Friday close of $38.80.

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Kellogg Co. (NYSE: K) was downgraded to Neutral from Outperform at Credit Suisse, which also lowered the price target on the cereal and food giant to $68. That is just below the consensus target of $70.68. That last trade on Friday was seen at $65.01.

Leslie’s Inc. (NASDAQ: LESL) was started with a Neutral rating and a $20 price target at Goldman Sachs. Jefferies started it with a Buy rating and a $26 target, while Piper Sandler has an Overweight rating and a $26 target. No consensus target has been set as the company had a recent IPO. The last trade on Friday was reported at $22.

Manpower Group Inc. (NYSE: MAN) was raised to Outperform from Market Perform at BMO Capital Markets, where the price target was lifted to $100. That compares with a much lower consensus target of $79.91 and Friday's final print at $86.61.

Moderna Inc. (NASDAQ: MRNA) was started with an Equal Weight rating and a $92 price target at Wells Fargo. The consensus target is much higher at $107.07, and Friday's closing price was $97.61. Shares closed up over 5% on Friday, and traded up 4% in premarket action on more positive COVID-19 vaccine news.

Philip Morris International Inc. (NYSE: PM) was downgraded to Neutral from Buy at UBS, which also dropped the price target to $80. The consensus target is $91.13, and shares closed Friday at $76.73.

Prologis Inc. (NYSE: PLD) was downgraded to Sector Weight from Outperform at KeyBanc Capital Markets. The stock has traded in a 52-week range of $59.82 to $112.37, and the consensus price objective is $114.25. The shares were last seen at $100.27.

Rockwell Automation Inc. (NYSE: ROK) was raised to Overweight from Equal Weight at Morgan Stanley, which also raised the price target to $288. The consensus target is $243.32. The final trade on Friday hit the tape at $247.63.

Root Inc. (NASDAQ: ROOT) was started with a Neutral rating and a $20 price objective at Goldman Sachs. This was another recent IPO, so no consensus price target has been established. The shares closed trading on Friday at $19.00 apiece.

Sunstone Hotel Investors Inc. (NYSE: SHO) was downgraded to Hold from Buy at Jefferies, but the firm did raise the price target to $12. The consensus target is $9.65. The last trade Friday came in at $10.33, after retreating over 4%.

Texas Roadhouse Inc. (NASDAQ: TXRH) was raised to Outperform from Neutral at Baird, and the price target was lifted to $84. The consensus target is $74.09. The shares were last seen trading at $73.91.

True Blue Inc. (NYSE: TBI) was raised to Outperform from Market Perform at BMO Capital Markets, where the price target was lifted to $24. The consensus target is $17.60, and the shares closed Friday at $17.63.

ALSO READ: Top Boutique Brokerage Firm Has 5 Red-Hot Tech Stocks to Buy Under $10

Friday's top analyst upgrades and downgrades included Barrick Gold, DraftKings, Hyatt Hotels, Nikola, Occidental Petroleum, Penn National Gaming, Shopify, T-Mobile, Uber, Valero Energy and Workday.

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