The futures were modestly higher after a big rally Friday, which was spurred on by the solid nonfarm payrolls report that finally came in above analyst estimates. All the indexes once again printed all-time highs. With earnings reporting starting to slow down, and Wall Street starting to look down the road at the upcoming Thanksgiving holiday, we may see volumes start to taper some. Buyers returned to the Treasury market once again on Friday as yields across the curve all fell to their lowest levels in over a month.
Despite the continued market strength, top strategists across Wall Street remain focused on the potential for rising interest rates, the aforementioned quantitative easing tapering, big increases in energy costs and, while perhaps easing some, the ongoing supply chain issues and stagflation worries. Toss in the debt ceiling issue that will return in December and the ongoing China worries, 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 Monday, November 8, 2021.
Appian Corp. (NASDAQ: APPN): Truist Securities upgraded the shares to Buy from Hold and also raised the target price to $116 from $105. The consensus price target is $106.57. The stock closed Friday at $90.73, which was down almost 13% after the company missed analysts’ earnings estimates.
Apria Inc. (NASDAQ: APR): Citigroup resumed coverage on the stock with a Buy rating and a $43 price target. The consensus target is lower at $38. The stock retreated over 2% on Friday to close at $35.75.
Bluebird Bio Inc. (NASDAQ: BLUE): Morgan Stanley downgraded the shares to Underweight from Equal Weight and has an $11 price target. The consensus target is $22.40. The stock closed Friday at $13.14, which was down almost 20% for the day after the company reported a third-quarter loss and revenue came in way below estimates.