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Top Analyst Upgrades and Downgrades: Booking, Bristol-Myers, Cloudflare, FedEx, JetBlue, Nvidia, Pepsi, Square, Zscaler and More

The futures were mixed on Tuesday morning, as investors get ready for the onslaught of first-quarter earnings, which will start in earnest tomorrow as the big money center banks start the large-cap reporting parade. The S&P 500 posted yet another intraday high, before closing lower Monday, as did all the major indexes.

Top strategists across Wall Street continue to point to the broad reopening of the economy, the tailwind from the stimulus package and the continued Federal Reserve pledges to keep interest rates contained as reasons for the continued moves higher in the equity markets. It also should be noted that money markets continue to see massive inflows, which is another big plus.

With major Wall Street firms still warning of the potential for impending 5% to 10% correction across the board, it makes sense for investors to continue building some cash reserves into the market strength, while repositioning portfolios for the start of the second quarter and 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, April 13, 2021.

Ameren Corp. (NYSE: AEE): BofA Securities upgraded the stock to Buy from Neutral and also raised the price target to $89 from $84. The consensus target price is $83.77, and the last Monday trade came in at $80.72.

Beyond Meat Inc. (NASDAQ: BYND): Zacks named this the Bear of the Day stock, saying that it is a meatless miracle that shares have run far past the price at which this “trendy” stock should be trading. Shares last closed at $132.26, but the consensus price target is $128.80.

Booking Holdings Inc. (NASDAQ: BKNG): Jefferies upgraded it to Buy from Hold and also raised the price target to $2800 from $2300. That compares with a consensus target of $2462.04 and Monday’s final print of $2409.05.

Bristol-Myers Squibb Co. (NYSE: BMY): Truist Securities raised the stock to Buy from Hold. The pharmaceutical giant has traded in a 52-week range of $54.07 to $67.16 and has a consensus price target of $75.38. Monday’s final trade was reported at $62.69.