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Monday's Top Analyst Upgrades and Downgrades: Airbnb, Alcoa, Chewy, ConocoPhillips, Fortinet, Peloton, Salesforce and More

The futures were mixed Monday after last week’s topsy-turvy trading that saw massive selling give way to the two largest risk-off days for the market in six months on Wednesday and Thursday. In fact, after hitting the elusive 5% decline mark, between Monday’s intraday low and Thursday’s intraday high, the S&P 500 was up 3.7%. Investors and traders now seem certain that the Federal Reserve will start the tapering process on the massive quantitative easing program in November and Fed Chair Powell maintains that all the purchases will be concluded by this time next year.

While the recent consumer price index and retail sales data has tempered some of the inflation and growth worries, mounting stagflation concerns continued to pick up, amid the ongoing supply chain and input pressures and recovery headwinds from the spread of the Delta variant. Federal Reserve assurances that rates will remain accommodative continue to provide a tailwind for equities though.

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 Monday, September 27, 2021.

Airbnb Inc. (NASDAQ: ABNB): JPMorgan started coverage with a Neutral rating and a $170 price target. The Wall Street consensus target is up at $175.30. The last trade on Friday came in at $175.88 a share.

Alcoa Corp. (NYSE: AA): Goldman Sachs raised its $51 price target on the aluminum giant to $63 while reiterating a Buy rating on the shares. The consensus target is $53.12. The stock closed on Friday at $48.49.

Altice USA Inc. (NASDAQ: ATUS): Credit Suisse downgraded the stock to Neutral from Outperform and slashed the target price to $24 from $46. The consensus target is $40.07. The stock closed Friday at $20.58, after falling almost 7% on the day after the CEO admitted that some broadband customers are heading for the exits.