The futures traded lower Tuesday morning after a big start to the trading week on Monday, with all three major indexes and the Russell 2000 closing at all-time highs. Investors are cheering the possibility for a big stimulus package becoming a reality, and fourth-quarter earnings have been coming in very strong. Top analysts on Wall Street are still pointing to “bubble” metrics, like the massive retail stock and option trading and huge hedge fund leverage as examples. Many are urging caution.
With fourth-quarter earnings results still coming in, most across Wall Street are not only examining the results but looking to see what guidance for the first quarter and the rest of 2021 looks like. With the markets back to all-time highs, it makes sense for investors to start building some cash reserves while repositioning portfolios for the rest 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 Tuesday, February 9, 2021.
Beacon Roofing Supply Inc. (NASDAQ: BEAC) was raised to Outperform from Market Perform at BMO Capital Markets where they also raise the price target to $52. The shares were also raised to Sector Perform from Underperform at RBC Capital Markets with a $48 price target. The consensus across Wall Street is set at $44 and the stock closed Monday at $43.69, up over 3% on good earnings. The shares are up another 6% in premarket trading.
Bilibili Inc. (NASDAQ: BILI) was downgraded to Neutral from Outperform at Credit Suisse, though the firm did raise the price target on the stock to $145. The consensus target is much lower at $95, and the shares were last seen Monday at $144.04, up almost 4% on the day. The stock was up an additional 2% in Tuesday’s premarket.
BridgeBio Pharma Inc. (NASDAQ: BBIO) was resumed in coverage at Goldman Sachs with a Buy rating and an $83 price target. The consensus target is lower at $69.75. Monday’s last trade came in at $72.35, after almost a 6% gain for the day.
Camden Property Inc. (NYSE: CPT) was upgraded to Outperform from Neutral at Baird, which also raised the price target to $109. BofA Securities downgraded it to Neutral from Buy and lowered the price target to $110. The lower $107.82 consensus target is still above Monday’s $101.96 per share close.
Constellation Brands Inc. (NYSE: STZ) was added to the Conviction Buy List at Goldman Sachs. The shares have traded in a 52-week range of $104.28 to $240.76 and have a $251.05 consensus price target. The last trade for Monday came in at $228.63.
Community Financial Corp. (NASDAQ: TCFC) was raised to Overweight from Neutral at Piper Sandler, which raised the price target to $34. The posted consensus target is $30.50. The stock rose almost 4% on Monday to close at $26.83. It was up almost 10% in the premarket, after posting stellar results yesterday.
Eagle Bulk Shipping Inc. (NASDAQ: EGLE) was started with a Buy rating and a $28 price target at BTIG Research. The consensus target is $24.86. The stock was closed on Monday at $21.57, down almost 5% for the day. Shares rebounded over 3% in premarket action.
Equity Residential Inc. (NYSE: EQR) was upgraded to Buy from Neutral at BofA Securities, which raised the price target to $78. The consensus target is just $61.17. The shares closed Monday at $55.08.