The futures were higher on Friday, after a wild week that saw some very disturbing inflation reports that provoked some serious selling. Yet, we did see a mild rally on Thursday for the S&P 500 and the Nasdaq. Top pundits across Wall Street still feel the bullish trend is intact, citing the very strong earnings for the third quarter and a huge inflow of money from the sidelines. In addition, the more positive COVID-19 news, along with the Treasury markets being closed for Veterans Day, seemed to calm things down some.
Top strategists across Wall Street remain focused on the potential for rising interest rates, the quantitative easing tapering, big increases in energy costs, and ongoing supply chain issues and stagflation worries. Toss in the debt ceiling issue that will return soon and the ongoing 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 Friday, November 12, 2021.
Allegiant Travel Co. (NASDAQ: ALGT): Goldman Sachs maintained a Neutral rating on the stock and has a $245 price target. The $257.45 consensus target is slightly higher, and Thursday’s closing print was $188.71 per share.
Beyond Meat Inc. (NASDAQ: BYND): Credit Suisse reiterated an Underperform rating and slashed the $75 price target on the plant-based food stock to $60. Goldman Sachs maintained a Sell rating and dropped its price target to $74 from $85. Zacks pondered whether the stock was beyond repair, as it selected Beyond Meat as its Bear of the Day. The consensus target dropped from $94.31 to $79.69 after the company posted bad results. Shares last closed at $81.93.
BJ’s Wholesale Club Holdings Inc. (NYSE: BJ): Gordon Haskett raised shares of the popular east coast retailer to Buy from Hold. The stock has traded in a 52-week range of $36.07 to $63.29 and has a $59.56 consensus target. The last trade for Thursday came in at $61.19.