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.
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.