The futures were mixed on Monday as we start the final trading week for April. Stocks rebounded on Friday, with all the major indexes and the transport index closing higher after a dreadful Thursday, which many attributed to the Biden tax plan for wealthy individuals and corporations. Many across Wall Street feel the punitive increase to fund many of the progressive initiatives will have a negative effect on stocks down the road.
The Federal Reserve pledges to keep interest rates contained could be among the 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 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.
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These are the top analyst upgrades, downgrades and initiations seen on Monday, April 26, 2021.
Atlantic Capital Bancshares Inc. (NASDAQ: ACBI): Gabelli raised the shares to Buy from Hold. The stock has traded in a 52-week range of $9.18 to $27.22 and has a $26.25 consensus price objective. The last trade for Friday was reported at $26.22.
Best Buy Co. Inc. (NYSE: BBY | BBY Price Prediction): Wedbush downgraded the retail giant to Neutral from Outperform and lowered the price target to $125 from $135. That compares with a $116.90 consensus and a Friday closing print of $117.74.
Blackstone Mortgage Trust Inc. (NYSE: BXMT): JPMorgan downgraded the stock to Neutral from Overweight and has a $31 price target. The consensus price objective is $30.57, and the stock ended trading on Friday at $32.87. As it is just shy of the 52-week high, this could be a valuation call.
Boston Beer Co. Inc. (NYSE: SAM): While Citigroup downgraded the brewer to Neutral from Buy, it also raised the price target on the shares to $1,395. The consensus target is $1,389.64. The stock closed Friday at $1,283.90 per share.
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Brunswick Corp. (NYSE: BC): Citigroup’s upgrade to Buy from Neutral included a price target hike to $125 from $94. The consensus target is lower at $105.92. Friday’s last trade came in at $104.52 a share.
Casper Sleep Inc. (NASDAQ: CSPR): Wedbush upgraded the stock to Outperform from Neutral and raised the price target to $10.50 from $10. The posted consensus target is $10.61, and the stock closed on Friday at $7.04.
Cleveland-Cliffs Inc. (NYSE: CLF): Keybanc Capital Markets downgraded the stock to Sector Weight from Overweight. The 52-week trading range is $3.80 to $20.87, and analysts have a $20.38 consensus target. Shares popped over 5% on Friday to close at $17.98.
Discover Financial Services (NYSE: DFS): BofA Securities upgraded it to Buy from Neutral and has a $120 price target. The consensus target is $115.29, and Friday’s close was at $102.84.
Dollar General Corp. (NYSE: DG): Zacks named this the Bear of the Day stock. The firm said that the shares have been a standout in the retail space for the past several years, but the near-term outlook is tough and earnings revisions have moved in the wrong direction recently. Shares last closed at $213.31 and have a consensus price target of $233.12.
Etsy Inc. (NASDAQ: ETSY): KeyBanc Capital Markets downgraded it to Sector Weight from Overweight. The shares have traded in a wide 52-week range of $61.31 to $251.86 and have a $237.38 consensus price target. Friday’s last trade was reported at $214.59.
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HCA Healthcare Inc. (NYSE: HCA): Though Citigroup downgraded it to Neutral from Buy, the firm also raised its price target to $215 from $191. The consensus target is $215.42. The last trade on Friday was posted at $202.50.
KeyCorp (NYSE: KEY): The Wedbush upgraded to Outperform from Neutral included a price target hike to $25 from $23. The consensus target on the bank is $22.32, and Friday’s close at $20.77 came after almost a 4% gain on the day.
Paysafe Ltd. (NASDAQ: PSFE): RBC Capital Markets started coverage with an Outperform rating and a $31 price target. No consensus target was available. Friday’s close was at $13.50, and shares were up almost 4% in premarket action.
Polaris Inc. (NYSE: PII): Citigroup downgraded the shares from Buy to Neutral with a $160 price target. That compares with a $142.13 consensus and Friday’s close at $146.45.
Proofpoint Inc. (NASDAQ: PFPT): Summit Insights upgraded the shares to Buy from Hold and have a $165 price target. The consensus target is just $149.33, and the closing price on Friday was at $131.78.
Sarepta Therapeutics Inc. (NASDAQ: SRPT): Credit Suisse resumed coverage with a Neutral rating and a $72 price target. The consensus target is much higher at $134.35, and the stock was last seen at $70.94 a share.
Simon Property Group Inc. (NYSE: SPG): Evercore ISI upgraded the real estate giant to Outperform from In Line and raised its price target to $128 from $112. The posted consensus target is $118, and the stock closed on Friday at $116.92.
Sonos Inc. (NASDAQ: SONO): This was selected as Bull of the Day at Zacks. The analyst said that shares of this higher-end home audio company have soared in the past year and its outlook appears strong as it continues to expand and diversify its portfolio. Shares closed most recently at $41.34 and have a consensus price target of $44.17.
ViacomCBS Inc. (NASDAQ: VIAC): MoffettNathanson upgraded the programming and broadcasting leader to Neutral from Sell. The shares have traded in a wide 52-week range of $14.79 to $101.97 and have a $54.50 consensus price objective. The most recent close was at $41.71.
Weyerhaeuser Co. (NYSE: WY): Raymond James not only upgraded the packaging and cardboard leader to Strong Buy from Outperform but lifted the price target to $50. The consensus target is just $37.33, and the stock was last seen on Friday trading at $38.20.
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Three consumer staples giants and an outstanding utility are top defensive picks at BofA Securities. They all pay dependable dividends, which can soften the blow some if we see a big sell-off over the next six months.
Friday’s top analyst upgrades and downgrades included Activision Blizzard, Adobe, American Airlines, Electronic Arts, Harley-Davidson, Kraft Heinz and Skillz.
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