Investing
Tuesday's Top Analyst Upgrades and Downgrades: Albertsons, Charles Schwab, CyberArk, Deckers Outdoor, Nike, Procter & Gamble, Tesla and More
October 5, 2021 8:55 am
Last Updated: October 5, 2021 12:58 pm
The futures were higher on Tuesday, after an ugly start to the first full trading week for the fourth quarter. Despite Friday’s impressive showing, Monday’s action surely proved discouraging to the risk-on crowd as the same headwinds remain in place. Continued rising interest rates, Federal Reserve tapering due to begin in a month, big increases in energy costs, ongoing supply chain issues, stagflation worries and Wall Street analysts that are not nearly as positive on the upcoming earnings seasons as they were for the second quarter. Toss in the debt ceiling and China worries, and the cauldron continues to simmer.
Though 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 Tuesday, October 5, 2021.
Albertsons Companies Inc. (NYSE: ACI): BMO Capital Markets downgraded the supermarket giant’s stock to Underperform from Market Perform but raised its price target to $26 from $22. The consensus target is up at $28.56. The shares closed trading on Monday at $30.10. The stock was down close to 4% in Tuesday’s premarket.
Becton, Dickinson and Co. (NYSE: BDX): Zacks has named this as its Bear of the Day stock, after the firm’s sentiment sank to its lowest. Shares last closed at $240.55, and the consensus price target is $267.80.
Bed Bath & Beyond Inc. (NASDAQ: BBBY): BofA Securities resumed coverage of the former meme stock with an Underperform rating and a $14 price target. The higher consensus target is $19.57, and Monday’s close at $15.70 followed a more than 5% retreat on Monday.
Charles Schwab Corp. (NASDAQ: SCHW): Atlantic Equities started coverage of the venerable discount brokerage firm with an Overweight rating and a $95 price target. The $85.17 consensus target is also well above Monday’s final trade of $73.23 a share.
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