Catch up on today’s top five analyst upgrades with this list compiled by The Fly: 1. Tractor Supply (TSCO) upgraded to Buy from Neutral at Goldman Sachs with analyst Kate McShane seeing new customers, the company’s new initiatives like Fusion and Side Lot, and ongoing “strong execution” in digital driving positive comps in 2021. 2. Estee Lauder (EL) double upgraded to Overweight from Underweight at JPMorgan with analyst Andrea Teixeira saying Friday’s fiscal Q2 results offers “clear signs” that Estee has been able to successfully pivot travel-retail and department store sales to the online channel much faster than anticipated. 3. MGM Resorts (MGM) upgraded to Neutral from Underperform at BofA with analyst Shaun Kelley stating that his rating changes reflect declining expectations of a recovery in Asia – both in Macau and Singapore – against an increasing conviction of a U.S. vaccine distribution and the recovery of the Las Vegas market. 4. Exxon Mobil (XOM) upgraded to Neutral from Underperform at Exane BNP Paribas with analyst Lucas Herrmann saying a company that appeared almost insistent in its view on the need to spend big on hydrocarbons given energy demand growth while expressing limited interest in pushing transition opportunity has substantially changed its tune, with more constrained CapEx. 5. Target (TGT) upgraded to Buy from Hold at Stifel with analyst Mark Astrachan saying the firm’s consumer spending survey indicates Target consumers are about 40% more likely to be users of at least one same-day service compared to overall respondents, which is notable given his view that same-day has a higher recurrence/usage rate than traditional shopping channels. This list is just a portion of The Fly’s full analyst coverage. To see The Fly’s full Street Research coverage, (click here.):(http://thefly.com/streetResearch.php)
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