Catch up on today’s top five analyst upgrades with this list compiled by The Fly:
1. Bristol-Myers (BMY) upgraded to Buy from Neutral at Guggenheim with analyst Seamus Fernandez saying he thinks Opdivo data suggest growth of the immuno-oncology franchise can return in 2021 and accelerate in 2022.
2. Brookfield (BAM) upgraded to Buy from Neutral at Citi with analyst William Katz saying the merits of the American Equity (AEL) equity stake “alters the somewhat stale narrative and opens up an incremental growth path.”
3. Archer Daniels (ADM) upgraded to Overweight from Neutral at JPMorgan with analyst Thomas Simonitsch saying he expects the company’s multiple to “re-rate” exiting 2020 given “resilient” Nutrition growth through the pandemic and greater confidence in the segment’s growth trajectory for 2021 and beyond.
4. Fabrinet (FN) upgraded to Outperform from Market Perform at Northland with analyst Tim Savageaux saying he sees the 15% pullback in the shares being most likely driven by Huawei and Ciena (CIEN) concerns.
5. O’Reilly Automotive (ORLY) upgraded to Outperform from Market Perform at Raymond James with analyst Matthew McClintock saying he has historically been hesitant to recommend owning the stock due to valuation concerns but says the current valuation is actually attractive for a long-term financial algorithm that has many reasons to accelerate relative to recent years.
This list is just a portion of The Fly’s full analyst coverage. To see The Fly’s full Street Research coverage, Click Here!
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