Five stocks stand out heading into Wednesday, November 4, 2026, each backed by a bullish rating change issued on Tuesday, November 3. The AI selloff deepened on November 2. The S&P 500 fell 0.51% to 7,541.40, and the Nasdaq Composite dropped 1.07% to 25,164.36, leaving the Nasdaq 100 in correction territory, more than 10% below its recent high. The Dow rose 0.41% to 51,983.98 as oil prices fell. Tech bounced on November 3 as voters went to the polls for the midterm elections. By 12:21 p.m. ET, the Nasdaq was up 1% and the S&P 500 up 0.5%, led by a 3.2% gain in Nvidia, while Apple fell after warning of lower profit margins. Options on the S&P 500 were priced for a move of about 0.8% in either direction on November 4 as election results come in. AMD reports after the close on November 3, and the October jobs report is due November 6.
The five ideas below span insurance brokerage, cloud networking, on-site power, audio entertainment, and aerospace parts. Editorial notes only, not investment advice.
Aon (AON) – BMO Upgrades the Insurance Broker
Aon was upgraded from Market Perform to Outperform on Tuesday by BMO Capital analyst Michael Zaremski, who raised his price target to $380 from $319. Aon is one of the world's largest insurance brokers, helping businesses buy coverage and manage risk. In our view, Aon's fee-based model and recurring client relationships make its earnings steadier than those of most financial companies.
Shares traded near $330.60 during Tuesday's session, down about 0.83%, giving Aon a market capitalization near $70 billion. The 52-week range runs from $266.33 to $382.34, the trailing price-to-earnings multiple is 18.09, and the dividend yield is near 1%.
Consensus reads strong buy, with 11 of 14 tracked firms bullish and three neutral. The average price target of $373.50 implies roughly 13% upside, and the BMO target implies about 15%. Wells Fargo's Elyse Greenspan raised her target to $364 on November 2.
Risks: UBS's Brian Meredith held Neutral on November 2 and cut his target to $356 from $387. Softer insurance pricing, slower client hiring, and integration of past acquisitions remain factors to monitor.
Cloudflare (NET) – JPMorgan Upgrades the Cloud Network Provider
Cloudflare was upgraded from Neutral to Overweight on Tuesday by JPMorgan analyst Samik Chatterjee, who kept a $350 price target. Cloudflare runs a global network that speeds up websites and apps, protects them from attacks, and lets developers run software and AI models close to users. In our view, the move toward running AI applications at the edge of the network plays to Cloudflare's strengths.
Shares traded near $274.57 during Tuesday's session, up about 3.54%, giving Cloudflare a market capitalization near $98 billion. The 52-week range runs from $158.83 to $370.35. The company posts a GAAP loss, so the price-to-earnings multiple is not meaningful.
Consensus reads buy, with 18 bullish, five neutral, and one bearish rating among 24 tracked firms. The average price target of $338.04 implies roughly 23% upside, and the JPMorgan target implies about 27%.
Risks: Jefferies' Joseph Gallo held Hold on November 2 and cut his target to $320 from $350, and Guggenheim's John DiFucci rates the stock Sell with a $140 target. A high valuation and the wider tech selloff remain factors to monitor.
Bloom Energy (BE) – Barclays Upgrades the Fuel Cell Power Supplier
Bloom Energy was upgraded from Equal-Weight to Overweight on Tuesday by Barclays analyst Christine Cho, who trimmed her price target to $289 from $316. Bloom makes fuel cell systems that generate electricity on site, which data centers, factories, and utilities use when grid power is slow to arrive. In our view, power shortages near AI data centers make on-site generation more valuable, and Bloom's systems can be installed faster than new grid capacity.
Shares traded near $214.02 during Tuesday's session, up about 9.05%, giving Bloom a market capitalization near $63 billion. The 52-week range runs from $75.70 to $351.28, and the trailing price-to-earnings multiple is 131.23.
Consensus reads buy, with 11 bullish, nine neutral, and one bearish rating among 21 tracked firms. The average price target of $260.52 implies roughly 22% upside, and the Barclays target implies about 35%.
Risks: Citigroup's Vikram Bagri held Neutral at $284 on October 29, and Wells Fargo's Michael Blum rates the stock Equal-Weight. Sharp price swings, natural gas costs, and changes to clean energy incentives remain factors to monitor.
SiriusXM (SIRI) – Goldman Sachs Upgrades the Audio Entertainment Company
SiriusXM was upgraded from Neutral to Buy on Tuesday by Goldman Sachs analyst Stephen Laszczyk, who raised his price target to $37 from $33. SiriusXM runs the satellite radio service found in many new U.S. cars and also owns Pandora and a large podcast business. In our view, a low valuation, steady subscription revenue, and a solid dividend make SiriusXM an income-oriented idea away from the AI trade.
Shares traded near $30.80 during Tuesday's session, up about 4.16%, giving SiriusXM a market capitalization near $10 billion. The 52-week range runs from $19.77 to $32.66, the trailing price-to-earnings multiple is 12.43, and the dividend yield is near 4%.
Consensus reads buy, with seven bullish, three neutral, and two bearish ratings among 12 tracked firms. The average price target of $34.42 implies roughly 12% upside, and the Goldman target implies about 20%. Rosenblatt's Barton Crockett raised his target to $47 on October 30.
Risks: JPMorgan's Sebastiano Petti held Neutral on November 3 and cut his target to $32, and Morgan Stanley rates the stock Underweight. Subscriber losses, competition from streaming apps, and debt levels remain factors to monitor.
Howmet Aerospace (HWM) – KeyBanc Upgrades the Jet Engine Parts Maker
Howmet was upgraded from Sector Weight to Overweight on Tuesday by KeyBanc. Howmet makes jet engine parts, fasteners, and structural parts for aircraft, along with forged wheels for trucks. In our view, the stock's pullback from its high leaves room for gains at a company with steady demand for new engines and replacement parts.
Shares traded near $224.53 during Tuesday's session, up about 5.42%, giving Howmet a market capitalization near $89 billion. The stock sits well below its 52-week high of $310 and above its low of $183.52. The trailing price-to-earnings multiple is 43.96.
Consensus reads strong buy, with 12 of 14 tracked firms bullish and two neutral. The average price target of $284.50 implies roughly 27% upside. Jefferies' Sheila Kahyaoglu kept her Buy rating on November 2 with a $350 target, the highest on the panel.
Risks: Several firms cut targets after the stock's drop. BTIG's Andre Madrid lowered his to $280 from $340 on November 2, and UBS's Gavin Parsons held Neutral while cutting his to $230 on October 30. Aircraft production delays and a weaker truck market remain factors to monitor.
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