The futures were lower across the board Friday, as investors and traders looked to wrap up a rollercoaster week of trading that saw some big moves. Very narrow breadth in the market is an ongoing issue for Wall Street strategists, and the continuing concerns hanging over the market remain the same: growth headwinds from the spread of the Delta variant hurting reopenings, supply chain and input price pressures that may hurt upcoming third-quarter earnings, concerns over the fiscal cliff and the debt ceiling, strong (and in some cases bipartisan) pushback on additional fiscal stimulus, higher taxes in a reconciliation bill and a host of additional items.
While traders initially welcomed the news that consumer prices cooled off in August, those prices still rose a staggering 5.3% from a year before as supplies and labor continued to drive them up. Those who have been touting the fact that the higher inflation trends are “transitory” will point to this print as some proof. The fact of the matter is that, across the board, prices have trended higher. Whether it is in the grocery store, at the gas pump or a host of other items, Americans are paying far more this year than last year.
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 Friday, September 17, 2021.
BJ’s Wholesale Club Holdings Inc. (NYSE: BJ): Zacks has picked this stock as its Bull of the Day. The analyst said that the big warehouse clubs are still printing money every day. Shares most recently closed at $58.90, above the consensus price target of $58.28.
Chart Industries Inc. (NASDAQ: GTLS): Goldman Sachs started coverage with a Neutral rating and a $193 price target. The consensus target is $190.24. The last trade for Thursday came in at $190.01 a share.
Cirrus Logic Inc. (NASDAQ: CRUS): BofA Securities downgraded the stock to Underperform from Neutral and has a $92 price target. That compares with higher consensus target of $105.83 and Thursday’s closing print of $88.18.
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