Thursday's Top Analyst Upgrades and Downgrades: Altice, Altria, Ambev, Camping World, Charter Communications, Coca-Cola and More

Thursday’s futures were fairly negative after a lackluster close on Wednesday. The drop in large part was the outlook given by Federal Reserve Chair Jerome Powell. While inflation and unemployment have been large issues recently, and part of the dual mandate of the Fed, the outlook going forward seems to be that rates have to rise to accommodate, but when this happens is indeterminate for now. In the meantime, supply chains recovering and getting more people back to work seem to be the focus.

Despite the resurfacing concerns across Wall Street for tapering of the quantitative easing program and a clear building of inflationary pressures, the Federal Reserve is vowing to keep interest rates contained. That could be one reason for the continued moves higher in the equity markets, even after sell-offs. Also note 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 coming 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 Thursday, June 17, 2021.

Acorda Therapeutics Inc. (NASDAQ: ACOR): H.C. Wainwright upgraded the stock to a Buy rating from Neutral and has a $10 price target. Shares closed Wednesday near $4 apiece, in a 52-week range of $2.52 to $9.84. The consensus price target is $5.00.

Altice USA Inc. (NYSE: ATUS): TD Securities upgraded it to Buy from Hold and raised the price target to $43 from $40. The stock was last seen near $34, in a 52-week range of $21.97 to $38.30. The consensus price target is $42.16.

Altria Group Inc. (NYSE: MO): Redburn initiated coverage with a Neutral rating. The stock closed near $47, in a 52-week range of $35.83 to $52.59. Analysts have a consensus price target of $53.78 for the stock.

Ambev S.A. (NYSE: ABEV): Barclays its Underweight rating to Equal Weight. The consensus price target is $3.42, and the stock closed at around $3.79 per share. The 52-week trading range is $2.13 to $3.95.

Bandwith Inc. (NASDAQ: BAND): Piper Sandler initiated coverage with a Neutral rating and a $135 price target. The stock closed near $128, in a 52-week range of $107.01 to $198.60.

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