Friday’s futures were fairly positive, adding to a week of record highs. More will be seen when the markets actually open. Note that the markets are heading higher in the wake of Presidents Joe Biden’s infrastructure bill, which has led to industrials and financials making gains.
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 for Friday, June 25, 2021.
APA Corp. (NASDAQ: APA): JPMorgan downgraded to a Neutral rating from Overweight with a $27 price target. Shares closed Thursday near $22 apiece, in a 52-week range of $7.45 to $24.30. The consensus price target is $27.74.
Arcturus Therapeutics Holdings, Inc. (NASDAQ: ARCT): Goldman Sachs resumed coverage with a Neutral rating and a $29 price target. The stock was last traded near $34, in a 52-week range of $24.87 to $129.71. The consensus price target is $81.08.
BlackBerry Ltd. (NYSE: BB): CIBC downgraded to a Sector Underperform rating from Neutral. Canaccord Genuity also downgraded to a Sell rating from Hold with a $10 price target. The stock closed near $13, in a 52-week range of $4.37 to $28.77. Analysts have a consensus price target of $7.75 for the stock.
CalAmp Corp. (NASDAQ: CAMP): Craig Hallum reiterated a Buy rating and raised its price target to $16 from $15. The consensus price target is $14.88, and the stock closed Thursday at around $14 per share. The 52-week trading range is $7.01 to $14.51.
Cboe Global Markets Inc. (BATS: CBOE): Credit Suisse resumed coverage with a Neutral rating and a $94 price target. The stock closed near $121, in a 52-week range of $77.63 to $121.50.