The futures traded higher yet again on Friday morning as we complete the first full trading week for 2021, and it’s ending with a bang. Despite the unrest in Washington, D.C., this week, the conclusion of the election, along with the expectations on Wall Street for additional stimulus, infrastructure spending and continued easy fiscal policy, drove all three of the major indexes and the Russell 2000 to fresh all-time highs on Thursday.
Investors should continue reviewing portfolios very closely now and making adjustments in positioning for the first quarter and the balance of 2021.
24/7 Wall St. reviews dozens of analyst research reports each day of the week with a goal of finding new ideas for investors and traders alike. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock. Consensus analyst target data is from Refinitiv.
These are the top analyst upgrades, downgrades and initiations seen on Friday, January 8, 2021.
Aflac Inc. (NYSE: AFL) was upgraded to In-Line from Underperform at Evercore ISI, which also raised the price target on the shares to $47. The Wall Street consensus target is $44.09., and shares were last seen Thursday trading at $44.68.
Avista Corp. (NYSE: AVA) was downgraded at BofA Securities from Neutral to Underperform with a $37 price target. That compares to the $39.30 consensus target. The shares closed Thursday at $40.79.
CME Group Inc. (NASDAQ: CME) was upgraded at Deutsche Bank from Hold to Buy with a $196 price objective. That compares with a lower consensus target of $179.75. The stock was last seen on Thursday at $198.81
Chevron Corp. (NYSE: CVX) was raised to Overweight from Neutral at Piper Sandler, where the analysts also raised the price target on the integrated oil giant to $113. The consensus target is lower at $102.82.
Commercial Metals Co. (NYSE: CMC) was downgraded at Deutsche Bank from Buy to Hold with a $22 price target. The consensus target is $22.29. The last trade on Thursday was reported at $23.20.
CubeSmart Inc. (NYSE: CUBE) was raised from Underperform to Market Perform with a $36 price objective at BMO Capital Market. That compares to a $35.22 consensus target and Thursday’s $33.16 final print.
CVS Health Corp. (NYSE: CVS) was raised to Buy with a $90 price target from Hold at Jefferies. The consensus target is $82.48. The final trade on Thursday was posted at $73.99, up almost 2% on the day. Shares were also trading higher in Friday’s premarket.
D.R. Horton Inc. (NYSE: DHI) was raised to Outperform from Sector Perform at RBC Capital Markets, which also hiked the price target on the red-hot homebuilder to $90. The consensus target is $89.21. The shares were last seen Thursday at $68.69, after rising over 4% on the day.
Goodyear Tire and Rubber Co. (NYSE: GT) was raised to Overweight from Sector Perform at KeyBanc Capital Market. The firm also has a $14 price objective, which is well above the $11.88 consensus target and the $10.74 per share close on Thursday.