Thursday's Top Analyst Upgrades and Downgrades: Alcoa, Freeport-McMoRan, Home Depot, JetBlue, PayPal, Royal Dutch Shell, Square and More

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The futures were mixed Thursday, after a weak trading session on Wednesday that saw the return of the risk-off crowd. Inflation concerns clearly overshadowed the very positive retail earnings posted this week. All the indexes closed in the red, and we may be poised for some additional selling as the Thanksgiving holiday approaches.

Treasury Secretary Janet Yellen said earlier this week that December 15 is the new drop-dead date for raising the debt ceiling. Democrats are expected to use the reconciliation process to get something completed by then. Buyers returned to the Treasury market as yields across the curve were lower by the close.

Top strategists across Wall Street remain focused on the potential for rising interest rates, the quantitative easing tapering, big increases in energy costs and the ongoing supply chain issues and stagflation worries. Toss in the debt ceiling issue 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 Thursday, November 18, 2021.

Alcoa Corp. (NYSE: AA): Goldman Sachs reiterated a Buy rating on the aluminum giant, noting that the company continues to have a positive outlook for aluminum driven by continued demand strength from its role in the green transition and supply tightness, primarily from constrained supply in China. The firm’s $63 price target compares with the consensus target of $59.19 and Wednesday’s closing print of $47.92.

Continental Resources Inc. (NYSE: CLR): Scotiabank raised the energy giant stock to Sector Outperform from Sector Perform and has a $58 price target. The consensus target is $51.55. The final trade for Wednesday was reported at $46.49.

CrowdStrike Holdings Ltd. (NASDAQ: CRWD): D.A. Davidson started coverage of the cybersecurity leader with a Buy rating and a $320 price target. The consensus target is $309.15. The shares were last seen on Wednesday at $269.78.

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