Markets closed lower to end the Month, with the S&P dropping .46% on Monday. Asia markets rallied overnight while Europe stocks are in the green this morning. U.S. future are pointing to a higher open, the Dollar and Oil are lower while Yields and Gold are higher.
And this is what UPB is reading this morning: Tuesday Morning Reads
LMND gapped higher yesterday, testing the $77s before reversing course over $9. The stock has been volatile and did not want to lose my profits on a dip so I locked the last of my calls in. Certainly a name I will continue to have on watch. Think in the coming days/weeks it trades north of $80 and possibly higher:
NTR's 10 session winning streak came to an end yesterday with the stock closing down .28%. It has been riding that upper bollinger band like a champ and would not be surprised to see $50+ today or tomorrow. Will look to close some of my March calls in at 100% to cover costs and ride the rest... have plenty of time:
GME tested $19.40 before pulling back on Monday. Not going to chase a gap like yesterday so will be watching today for another opportunity to add some calls for the move over $20 in the coming weeks:
ZYME is finally starting to perform like I thought it would when I made it one of my Top 5 stocks for 2020. Would not be surprised to see this trade to $100 in 2021 - though the option premiums make it difficult. May add some $70 and/or $75 calls and possibly some calls into 2021 today:
Still eyeing REGN, FUBO, and VRTX from yesterdays list as well.
That $365 area on the SPY should provide nice support on any pull this morning:
Here are the analyst changes of note for today:
|Lyft price target raised to $50 from $41 at Loop Capital|
|Loop Capital analyst Rob Sanderson raised the firm's price target on Lyft to $50 from $41 and keeps a Buy rating on the shares. The analyst notes that his revised price target reflects a roll forward in his valuation model to 2022, though he expects the resurgence of COVID-19 to impact the rideshare volume with softer data points to come over the next several week. Sanderson also lowers his expected 2020 EPS view to ($5.48) from ($5.17) and his expected 2021 view to ($3.51) from ($3.44), but longer term, he remains positive in the secular tailwinds of a shift away from car ownership|
|GrowGeneration price target raised to $40 from $28 at Lake Street|
|Lake Street analyst Mark Smith raised the firm's price target on GrowGeneration to $40 from $28 and keeps a Buy rating on the shares, telling investors that he sees "potentially the most exciting retail growth story we have seen with industry-leading four-wall economics in a high growth industry." Comparing it to other high growth retail stories, Smith said he thinks GrowGeneration has the potential to continue its sales and earnings momentum for many years through acquisitions and organic growth as it "becomes the dominant player in a growth niche.|
|Sage Therapeutics downgraded to Market Perform from Outperform at Raymond James|
|Raymond James analyst Dane Leone downgraded Sage Therapeutics (SAGE) to Market Perform from Outperform without a price target after the company discussed the partnership between it and Biogen (BIIB) that was announced on November 27. Leone thinks the discussions "failed" as Sage management failed to defend how the terms of the deal accelerate the earlier pipeline, and thinks Biogen management provided a relatively weak argument for their ability to build a presence within the field of psychiatry. The analyst now believes that the now now captive zuranolone program has made Sage a CATCH-22 investment around the outcome with Biogen's aducanumab|
|Corsair Gaming price target raised to $41 from $30 at Baird|
|Baird analyst Colin Sebastian raised the firm's price target on Corsair Gaming to $41 from $30 and keeps an Outperform rating on the shares. The analyst noted the company's updated guidance and said the demand environment for key gaming and creator peripherals remain robust, with some improvement in supply levels, and favorable pricing in components|
|ShockWave Medical downgraded to Neutral from Buy at BofA|
|BofA analyst Bob Hopkins downgraded ShockWave Medical (SWAV) to Neutral from Buy with an increased $105 price target, citing valuation at the end of what he identifies as "a year of significant appreciation and record valuations." In the same note, Hopkins points to SI-Bone (SIBN) and Axonics (AXNX) as two small-to-mid cap medtech peers he sees having "significant upside potential.|
|Zoom Video price target lowered to $450 from $465 at Wells Fargo|
|Wells Fargo analyst Phil Winslow lowered the firm's price target on Zoom Video to $450 from $465 and keeps an Equal Weight rating on the shares. The analyst notes that Zoom reported "very strong" Q3 results-with revenue, new business metrics, profitability, cash flow, and guidance above consensus expectations. Although Winslow is impressed with Zoom's superior products, growth prospects, and scalable business model, he views the stock's near-term risk/reward trade-off as fair balanced|
And here is what I am watching today: FUBO, ZYME, REGN, BLK, VRTX, LMND, and GME.
Let's have a GREAT DAY!