Investing

Tuesday's Top Analyst Upgrades and Downgrades: Airbnb, Canopy Growth, Continental Resources, DraftKings, Fisker, Moderna, SunPower and More

The futures were mixed on Tuesday, after another record-breaking day for the Dow Jones industrials, the S&P 500 and the Russell 2000 as they all printed fresh all-time highs. Risk-on money continues to pour into the markets, and corporate stock buybacks are gaining momentum as blackout periods end. After a very positive nonfarm payrolls report last Friday all eyes will be on Tuesday’s Producer Price Index report and the Consumer Price Index report scheduled for Wednesday.

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 Tuesday, November 9, 2021.

Airbnb Inc. (NASDAQ: ABNB): Piper Sandler reiterated its Overweight rating and lifted the $175 target price for the online vacation rental giant to $215. Citigroup stuck with a Neutral rating but also lifted the price objective, to $215 from $152. The consensus target is $186.97, but the closing trade for Monday came in at $200.32 a share.

Appian Corp. (NASDAQ: APPN): Truist Securities upgraded the stock to Buy from Hold and lifted the target price to $116 from $105. The consensus target is $106.57. The last trade on Monday came in at $98.11, which was up over 8% on the day.

Canopy Growth Corp. (NASDAQ: CGC): Cowen downgraded the pot stock to Underperform from Market Perform. Over the past 52 weeks, shares have traded in a wide range of $11.31 to $56.50, and they have a $21.60 consensus price target. The final Monday trade came in at $12.98, up over 10% on chatter of a Republican-backed marijuana legalization bill.

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