The major indexes were mixed midday Wednesday, after Tuesday saw losses across the board with the Nasdaq being hit the hardest. Wednesday is the day investors have been looking for, as the Federal Reserve wraps up the two-day June meeting. The questions remain the same as all eyes and ears on Wall Street are focused on Fed Chair Powell and how he spins the inflation concerns, especially after producer prices climbed 6.6% in May, which on an annual basis is the largest 12-month increase on record.
24/7 Wall St. is reviewing some big analyst calls seen on Wednesday. We have included the latest analyst call on each stock, as well as a recent trading history and the consensus targets among analysts.
In case you missed it, Wednesday’s early analyst upgrades and downgrades included Alliance Data Services, Avalon Bay, Boston Properties, Brubaker, CBRE and more.
Beyond Meat Inc. (NASDAQ: BYND): Bernstein reiterated an Outperform rating on shares of the plant-based food company and raised the price target to $178 from $130, Over the past 52 weeks, the stock has traded between $99.86 and $221.00 a share. The consensus price target is $120.14.
Carnival Corp. & PLC (NYSE: CCL): Wolfe Research raised its Peer Perform rating on the cruise line leader to Outperform. The shares have traded in a 52-week range of $12.11 to $31.52 and have a consensus price target of $28.05.
Citigroup Inc. (NYSE: C): Credit Suisse reiterated an Outperform rating on the giant money center and investment bank and lowered the firm’s price target to $83 from $84. The stock has traded in a 52-week range of $40.49 to $80.29 and has an $85.93 consensus price target.
Coinbase Global Inc. (NASDAQ: COIN): Canaccord Genuity started coverage of the cryptocurrency trading platform with a Buy rating and a $285 price target. That compares with a consensus target of $395.64. The shares have traded between $208 and $429.54 since the stock came public in a direct listing earlier this year.
Dish Network Corp. (NASDAQ: DISH): Pivotal Research Group upgraded the stock to Buy from Hold and also raised the price target to $60 from $50. The shares have traded in a 52-week range of $24.51 to $47.07 and have a consensus price target of $49.29.
Kinder Morgan Inc. (NYSE: KMI): Stifel downgraded the energy pipeline giant’s stock from Buy to Hold with an $18 price target. That compares with an $18.14 consensus. The stock has traded between $11.45 and $19.29 a share over the past year.
Steel Dynamics Inc. (NASDAQ: STLD): JPMorgan resumed coverage with an Overweight rating and raised the price target on the shares to $107 from $33. The much lower consensus target is $64.55. The stock has traded in a 52-week range of $24 to $66.88.
Sunrun Inc. (NASDAQ: RUN): Morgan Stanley reiterated its Overweight rating and raised the price objective to $91 from $86. The stock has traded in a wide 52-week range of $18.43 to $100.93 and has a consensus price objective of $75.94.
Stifel believes that if the judge rules in favor of Epic Games in its case against Apple, some of the top video game stocks would get a huge boost. Four of them are rated Buy at the firm and could be great ideas for aggressive growth stock investors.