Wednesday’s Top Analyst Upgrades and Downgrades: Analog Devices, Constellation Brands, Dow, LyondellBasell, On Semiconductor, Plug Power, Workday and More

Investing

Published: October 13, 2021 8:50 am

Last Updated: October 13, 2021 9:12 am

The futures were mostly higher Wednesday, after Tuesday’s trading that saw the major indexes moving in and out of the red all day before ending down across the board. The earnings parade started in a big way Wednesday morning, with JPMorgan and Delta Air Lines posting solid results before the bell. The rest of the big banks and brokerage firms will post results later this week. 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 nonissue back-and-forth, with some buying across the longer end of the yield curve.

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 many 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 Wednesday, October 13, 2021.

American Tower Corp. (NYSE: AMT): Wolfe Research resumed coverage with a Peer Perform rating and a $271 target price. The consensus price objective is up at $308.50. The final trade for Tuesday
was reported at $264.55.

Analog Devices Inc. (NYSE: ADI): UBS started coverage on the chip giant with a Buy rating and a $210 price target. That compares with a lower $192.46 consensus target and Tuesday’s closing print of $164.02.

BellRing Brands Inc. (NASDAQ: BRBR): Truist Securities downgraded the stock to Hold from Buy with a $30 price target. The consensus target is $35.14. The stock closed Tuesday at $27.78.