The futures were lower Wednesday, after stunning inflation data gave the risk-on troops a dose of reality on what is becoming a very alarming situation. All the major indexes closed lower, while investors fled to Treasury bonds as yields plummeted across the curve. Tuesday, the Labor Department’s Producer Price Index, which measures wholesale prices, rose 0.6% in October, translating into an 8.6% increase year over year, the highest annual pace in records going back nearly 11 years.
With the S&P 500 posting a record close on Monday for the eighth straight session, which marked the best run for the index since 1997, it seems more and more likely that something has to give, and all eyes today will be on the release of the Consumer Price Index data, which could be a flashpoint.
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, November 10, 2021.
ADC Therapeutics S.A. (NYSE: ADCT): Wolfe Research started coverage on the stock with an Outperform rating and a $44 price target. The Wall Street consensus target is $43.67. The final trade for Tuesday came in at $29.04.
Allstate Corp. (NYSE: ALL): Barclays downgraded the insurance giant to Equal Weight from Overweight and has a $123 price target. The consensus target is up at $140.67. The shares closed on Tuesday at $115.19.
Ally Financial Inc. (NYSE: ALLY): Citigroup resumed coverage with a Buy rating and a $65 price target. The consensus target is $67.37. The stock closed at $49.08 on Tuesday.
Asure Software Inc. (NASDAQ: ASUR): Cowen resumed coverage with an Outperform rating and raised the $11 price target on the shares to $12. The consensus target is a stunning $30.93. The last trade for Tuesday came in at $9.53.
Booking Holdings Inc. (NASDAQ: BKNG): Argus raised its Hold rating on the online travel booking giant to Buy with a $3,060 price target. The consensus target is just $2,700.79. The shares were last seen on Tuesday trading at $2,648.20.