The futures were mixed Tuesday, after the week started with a nice risk-off rally early on Monday that turned into a big sell-off into the close. Soaring commodity prices remain a big concern on Wall Street, as oil prices are at their highest levels since 2014 and natural gas prices have skyrocketed as well. Interest rates were a non-issue Monday, as the Treasury markets were closed for the Columbus Day federal holiday. All eyes will be focused on the big banks and brokerage firms as they post third-quarter results later starting on Wednesday.
Top strategists across Wall Street remain focused on rising interest rates, Federal Reserve tapering due to begin soon, big increases in energy costs, ongoing supply chain issues and stagflation worries, and analysts are not nearly as positive on the upcoming earnings season as they were for the second quarter. Toss in the debt ceiling and China worries, and the cauldron continues to simmer.
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 12, 2021.
Acuity Brands Inc. (NYSE: AYI): UBS upgraded the stock to Neutral from Sell and boosted the price target to $206 from $163. The consensus target is $205.78, and the stock closed on Monday at $205.82.
Airbnb Inc. (NASDAQ: ABNB): Cowen raised its Market Perform rating to Outperform and boosted the $160 target price to $220. The consensus target is s$175.32. The stock closed on Monday at $166.67.
Allison Transmission Holdings Inc. (NYSE: ALSN): Goldman Sachs lowered its price target to $35 from $39 while maintaining a Sell rating on the stock. The posted consensus target is $42.25. The final trade for Monday was reported at $35.41.
Altice USA Inc. (NYSE: ATUS): Goldman Sachs slashed the $40 price target to $24 but kept the firm’s Buy rating. The consensus price objective is $34.11. The stock closed at $18.12 on Monday.