Catch up on today’s top five analyst upgrades with this list compiled by The Fly:
1. Advance Auto Parts (AAP) upgraded to Overweight from Neutral at JPMorgan with analyst Christopher Horvers saying he sees “strong/sustainable current trends bridging to an easy winter weather comparison.”
2. Northrop Grumman (NOC) upgraded to Outperform from Sector Perform at RBC Capital with analyst Michael Eisen saying the recent Ground Based Strategic Deterrent initial contract award, which should level set expectations, and the stock’s Q3 underperformance sets up a “compelling risk/reward profile for this blue-chip defense pure play.”
3. Costco (COST) upgraded to Overweight from Equal Weight at Barclays with analyst Karen Short saying the company’s comparisons in 2021 “are not particularly tough,” and “many components” of its recent margin expansion appear sustainable.
4. Bank of Montreal (BMO) upgraded to Neutral from Underperform and Bank of Nova Scotia (BNS) upgraded to Buy from Neutral at BofA.
5. SeaWorld (SEAS) upgraded to Outperform from Neutral at Credit Suisse with analyst Benjamin Chaiken saying since the COVID-19 outbreak, data points indicate headwinds from the impact of Epic Universe in Orlando and the company’s fully optimized cost structure have either changed or are now fully priced in. This list is just a portion of The Fly’s full analyst coverage.
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