The futures were up across the board Thursday, after another tug-of-war day on Wednesday that saw the S&P 500 and the Nasdaq post solid gains, while the Dow Jones industrials ended flat. Earnings season for the big boys got off to a solid start with both JPMorgan and Delta Air Lines providing solid results, although Delta’s forward commentary on higher jet fuel pricing hurting fourth-quarter results took the shares down almost 6%. The soaring fuel prices the company discussed 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, 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 Thursday, October 14, 2021.
AT&T Inc. (NYSE: T): KeyBanc Capital Markets upgraded the venerable telecommunications giant’s stock to Sector Weight from Underweight. The shares have traded in a 52-week range of $25.01 to $33.88 and have a consensus price objective of $31.49. The final trade for Wednesday was reported at $25.30 per share.
Abbott Laboratories (NYSE: ABT): Redburn started coverage of the pharmaceutical leader with a Neutral rating. The shares have traded in a 52-week range of $103.13 to $129.70 and have a consensus target price of $132.28. The last trade for Wednesday was reported at $117.
Airgain Inc. (NASDAQ: AIRG): Cowen cut its Outperform rating to Market Perform and lowered the target price to $14 from $18. The posted consensus target is $23. The stock closed on Wednesday at $11.94.
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