Top Analyst Upgrades and Downgrades: AMD, Caterpillar, Corning, DexCom, Enphase, First Solar, Invesco, 3M, Microsoft, Pfizer, Wynn and More

Stocks have been sliding into earnings, as the election approaches and with more civil unrest in the news. Ahead of the election, many investors are looking for new ideas about how to be positioned heading into 2021.

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 Wednesday, October 28, 2020.

Advanced Micro Devices Inc. (NASDAQ: AMD) was reiterated as Outperform with a $100 target price at Wedbush Securities. Barclays reiterated AMD as Overweight and raised its price target to $100 from $85.

Alexion Pharmaceuticals Inc. (NASDAQ: ALXN) was started with a Neutral rating and a $133 price target at UBS.

Caterpillar Inc. (NYSE: CAT) was maintained as Underweight but its target price was raised to $122 from $120 (versus a $157.91 prior close) at Morgan Stanley. The stock was down 3.2% at $157.91 a share on Tuesday and was indicated down 2.2% more at $154.30 on Wednesday. Its consensus target price was $150.18.

Corning Inc. (NYSE: GLW) was maintained as Equal Weight but its price target was raised to $32 from $28 at Morgan Stanley. The stock closed down 4% at $32.85, and it had a $32.83 consensus price target.

DexCom Inc. (NASDAQ: DXCM) was down about 9% at $380.63 per share on Tuesday and was indicated down less than 1% on Wednesday. Morgan Stanley maintained its Equal Weight rating but cut its price target to $398 from $428.

Diamondback Energy Inc. (NASDAQ: FANG) was downgraded to Equal Weight from Overweight at Barclays.

Eli Lilly and Co. (NYSE: LLY) was maintained as Overweight but its target price was cut to $170 from $176 at Morgan Stanley. The stock closed down 6.9% at $131.90 a share on Tuesday, and it was indicated down almost 1% at $130.75 on Wednesday. The consensus target price was $165.07.

Enphase Energy Inc. (NASDAQ: ENPH) was reiterated as Buy and its price target was raised to $118 from $77 at Needham. The stock closed down almost 5% at $98.63 ahead of earnings, and it was indicated up 1.3% at $99.90 on Wednesday. Its consensus target price was $80.07.

First Solar Inc. (NASDAQ: FSLR) was raised to Equal Weight from Underweight with a $86 target price at Barclays. Shares closed down 1.6% at $82.39 on Tuesday, and the stock was up almost 11% at $91.10 a share on Wednesday morning. Ahead of earnings, the consensus target price was $69.81.

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