Tuesday’s futures were relatively flat after a very positive Monday for the broad markets. Apart from this, cryptocurrency prices were much lower as concerns of mounting regulatory actions from China continued to gain traction—Dogecoin was seeing some of the worst of it. Investors are still wary of the recent Federal Reserve meeting, and there is still a reckoning of unemployment and inflation to deal with.
Wall Street is concerned about tapering of the quantitative easing program, but despite 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. Another big plus is the continued massive inflows into money markets.
With major Wall Street firms still warning of the potential for an 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 Tuesday, June 22, 2021.
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Atlas Air Worldwide Holdings, Inc. (NASDAQ: AAWW): Stifel resumed coverage with a Buy rating and a $90 price target. Shares closed Monday near $68 apiece, in a 52-week range of $38.36 to $76.22. The consensus price target is $94.00.
Affirm Holdings, Inc. (NASDAQ: AFRM): Stephens initiated coverage with an Underweight rating with a $55 price target. The stock was last traded near $64, in a 52-week range of $46.50 to $146.90. The consensus price target is $78.25.
Air Transport Services Group Inc. (NASDAQ: ATSG): Stifel resumed coverage with a Buy rating and a $30 price target. The stock closed near $23, in a 52-week range of $20.39 to $32.43. Analysts have a consensus price target of $33.83 for the stock.
Bandwith Inc. (NASDAQ: BAND): Needham started with a Buy rating and a $155 price target. The consensus price target is $177.22, and the stock closed Friday at around $128 per share. The 52-week trading range is $107.01 to $198.60.
Berkeley Lights, Inc. (NASDAQ: BLI): BTIG Research initiated coverage with a Buy rating and a $70 price target. The stock closed near $49, in a 52-week range of $35.51 to $113.53.
ChargePoint Holdings, Inc. (NYSE: CHPT): Jefferies initiated coverage with a Buy rating and a $40 price target. The shares last closed near $33, and the consensus price target is $36.86.
Canadian Pacific Railway Ltd. (NYSE: CP): Stifel resumed coverage with a Hold rating and an $80 price target. The stock most recently closed at $77 and has a consensus price target of $86.64.
CrowdStrike Holdings, Inc. (NASDAQ: CRWD): Stifel upgraded to a Buy rating from Hold and raised its price target to $300 from $240. Shares last closed near $238 and have a consensus price target of $255.96.
CSX Corp. (NASDAQ: CSX): Stifel resumed coverage with a Hold rating and a $99 price target. The stock was last trading near $96. The consensus target is $106.48. The 52-week trading range is $65.37 to $104.87.
Evergy, Inc. (NYSE: EVRG): Wells Fargo downgraded to an Equal-Weight rating from Overweight and cut the price target to $68 from $70. Shares last closed at $64, and the consensus price target is $69.29.
FedEx Corp. (NYSE: FDX): Stifel resumed coverage with a $339 price target. The consensus price target is $336.66. The stock has a 52-week range of $129.28 to $319.90 and recently closed near $293 a share.
Knight-Swift Transportation Holdings Inc. (NYSE: KNX): Stifel resumed coverage with a Buy rating and a $61 price target. The stock most recently closed at $45 and has a consensus price target of $55.47.
Norfolk Southern Corp. (NYSE: NSC): Stifel resumed coverage with a Hold rating and a $272 price target. Shares last closed at $264.76, and the consensus price target is $295.00.
Old Dominion Freight Line Inc. (NASDAQ: ODFL): Stifel resumed coverage with a Hold rating and a $236 price target. The stock was last traded near $251, in a 52-week range of $161.30 to $276.09. The consensus price target is $266.93.
Ryder System, Inc. (NYSE: R): Stifel resumed coverage with a Buy rating and an $11.25 price target. The stock closed near $74, in a 52-week range of $34.33 to $89.65. Analysts have a consensus price target of $90.33 for the stock.
Raven Industries, Inc. (NASDAQ: RAVN): Lake Street downgraded to a Hold rating from Buy. The stock closed near $57, in a 52-week range of $19.84 to $57.91.
RingCentral Inc. (NYSE: RNG): Needham initiated coverage with a Buy rating and a $360 price target. The shares last closed near $287, and the consensus price target is $422.46.
SkillSoft Corp. (NYSE: SKIL): Citigroup initiated coverage with a Buy rating and an $18 price target. The stock most recently closed at $9.35 and has a 52-week range of $9.30 to $11.99.
Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE: TSM): Argus initiated coverage with a Buy rating and a $150 price target. Shares last closed near $114 and have a consensus price target of $135.72.
Twilio Inc. (NYSE: TWLO): Needham initiated coverage with a Buy rating and a $430 price target. The stock was last trading near $363. The consensus target is $460.21. The 52-week trading range is $206.56 to $457.30.
Union Pacific Corp. (NYSE: UNP): Stifel resumed coverage with a Hold rating and a $225 price target. Shares last closed at $217, and the consensus price target is $243.48.
United Parcel Service, Inc. (NYSE: UPS): Stifel resumed coverage with a Hold rating and a $210 price target. The stock has a 52-week range of $107.16 to $219.59 and recently closed near $203 a share.
Vonage Holdings Corp. (NASDAQ: VG): Needham started with a Hold rating. The stock most recently closed at $15 and has a consensus price target of $15.77.
Zoom Video Communications, Inc. (NASDAQ: ZM): Needham initiated coverage with a Hold rating. Shares last closed at $369, and the consensus price target is $414.97.
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