The futures were higher on Monday, as investors looked forward to earnings from a couple of major Dow Jones industrials stocks. Although the broad markets broke their stride last week due to increased inflation concerns, they closed out the week on a strong note, and Monday’s futures seemed to reflect this.
Top strategists across Wall Street remain focused on the potential for rising interest rates, the quantitative easing tapering, big increases in energy costs, 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 Monday, November 15, 2021.
Acutus Medical Inc. (NASDAQ: AFIB): JPMorgan downgraded the stock to an Underweight rating from Neutral. The $13.33 consensus target is much higher than Friday’s closing print of $3.64 per share.
Akamai Technologies Inc. (NASDAQ: AKAM): Oppenheimer downgraded it to Perform from Outperform. The consensus target is $134.31, and shares last closed at $111.51.
Amicus Therapeutics Inc. (NASDAQ: FOLD): Stifel’s upgrade was to Buy from Hold, and it raised the $12 price target to $16. The posted consensus target is $16.67. The stock was last seen Friday at $11.34, and shares were up over 4% in the premarket.
BioXcel Therapeutics Inc (NASDAQ: BTAI): Goldman Sachs lowered its Neutral rating to Sell and slashed the price target from $55 to $24. The consensus target is $92.82. The stock closed Friday at $34.53. Shares were down over 13% in Monday’s premarket.
Blink Charging Co. (NASDAQ: BLNK): H.C. Wainwright upgraded it from Neutral to Buy with a $50 price target. The stock has traded in a 52-week range of $9.95 to $64.50 and has a $38.50 consensus target. The last trade for Friday came in at $40.01.
ChargePoint Holdings Inc. (NYSE: CHPT): JPMorgan initiated coverage with a Neutral rating and a $26 price target. The consensus target is $33.33. The share price rose over 4% on Friday to close at $26.82.
Chevron Corp. (NYSE: CVX): UBS upgraded it to Buy from Neutral and has a $125 price target. The consensus target is $127.42. The stock closed on Friday at $114.23.
CMC Materials Inc. (NASDAQ: CCMP): The Goldman Sachs upgrade to Buy from Neutral included a price target hike to $192 from $149. Shares most recently closed at $144.94, and the consensus price target is $160.63.