After a week of up and down trading, the broad markets look to be ending the week on a negative note. Precipitating this move downward was a recent consumer sentiment report that demonstrated near decade-low numbers reflecting concerns about inflation. Consumer Price Index data from earlier this week, while positive, suggested a steady uptick in inflation. Separately, new jobless claims were reported higher on Thursday, but they remained near pandemic lows.
Withstanding all this economic news, equities, and the markets in general, need to find a direction from here. After drawing down last week and trading sideways this week, it is anyone’s guess as to where they could go from here. However, a few analysts have picked some names on Friday where investors could see big returns.
24/7 Wall St. is reviewing some big analyst calls seen on Friday. We have included the latest analyst call on each stock, as well as a recent trading history and the consensus targets among analysts. Note that analyst calls seen earlier in the day were on Cirrus Logic, Las Vegas Sands, Take-Two, Williams-Sonoma and more.
Adobe Inc. (NASDAQ: ADBE): Mizuho reiterated a Buy rating and raised the price target to $695 from $640. Shares were last seen trading around $652, and in the past year they have traded as high as $673.88.
Alphabet Inc. (NASDAQ: GOOGL): Jefferies reiterated a Hold rating but raised its price target to $3,325 from $3,150. The stock was last seen at around $2,831 a share, and it has a consensus price target of $3,146.45.
Camping World Holdings Inc. (NYSE: CWH): Truist reiterated a Buy rating and cut its price target to $50 from $54. The shares have a 52-week range of $22.60 to $49.20, while the consensus price target is $55.13.
CSX Corp (NASDAQ: CSX): RBC Capital Markets downgraded the stock to Sector Perform from Outperform and lowered the price target to $32 from $37. Shares were trading near $30, and the consensus price target is $36.47.
Facebook Inc. (NASDAQ: FB): Jefferies reiterated a Buy rating and raised the price target to $440 from $425. That is more than the $416.35 consensus target and well above the current share price of roughly $365.30.
Five9 Inc. (NASDAQ: FIVN): Piper Sandler raised its Neutral rating to Overweight but cut the price target to $200 from $203. Shares were last seen trading near $173 apiece. The consensus price target is $204.00.
KLA Corp. (NASDAQ: KLAC): BofA Securities reiterated a Buy rating and raised the price target to $450 from $425. Shares were trading around $368.86, and they have a consensus price target of $387.53.
Lululemon Athletica Inc. (NASDAQ: LULU): Oppenheimer reiterated an Outperform rating and hiked the price target to $520 from $405. The $441.26 consensus target is well above the current share price near $424.47.
Nvidia Corp. (NASDAQ: NVDA): BofA Securities reiterated a Buy rating and raised the price target to $275 from $260. Shares were last seen trading around $220, and in the past year they have traded as high as $230.43.
With the potential for a sizable correction looming and interest rates still at generational lows, five Dividend Aristocrats stocks are more defensive and look like solid ideas for growth and income investors now.