The futures were mixed on Friday, as we get set to wrap up another wild week where very positive earnings drove some big gains, and both the Dow Jones industrials and the S&P 500 printed intraday all-time highs. New claims for unemployment dropped again to a pandemic low, as many companies are avoiding layoffs amid the biggest labor shortage in decades. The sellers were out in the Treasury markets, as yields rose across the curve, with the 10-year bond blowing through some recent highs.
Top strategists across Wall Street remain focused on continued rising interest rates, the quantitative easing tapering due to begin soon, big increases in energy costs, ongoing supply chain issues and stagflation worries. Toss in the debt ceiling issue, which has not gone away, and the ongoing China worries keep the cauldron continuing 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 Friday, October 22, 2021.
Ally Financial Inc. (NYSE: ALLY): Piper Sandler downgraded the bank’s stock to Neutral from Overweight and cut the price target to $59 from $68. The posted consensus target is $67.42. The final trade on Thursday was reported at $52.97, which was down over 5% despite earnings beating analysts’ estimates.
BankUnited Inc. (NYSE: BKU): Piper Sandler lowered its Overweight rating to Neutral with a $45 price target. The consensus target is $47.36. The shares closed on Thursday at $42.40, after retreating close to 3% on the day.
Boeing Co. (NYSE: BA): RBC Capital Markets started coverage on the aerospace and defense leader with an Outperform rating and a $275 price target. Shares have traded in a 52-week range of $141.58 to $278.57, and the closing price on Thursday was $214.34 per share.