Investing

Tuesday's Top Analyst Upgrades and Downgrades: AbbVie, Amazon, Comcast, GE, Micron, Nvidia, Salesforce, Zoom Video and More

The futures were mixed after a bizarre Monday in which both the S&P 500 and the Nasdaq once again printed new all-time intraday highs before both closed down big, and only the Dow Jones industrials eked out a small gain. The early risk-on surge initially was helped along when President Biden nominated Fed Chair Jay Powell for another term, a move that Wall Street applauded.

In addition, there was some discussion that the supply-chain issues are starting to dissipate and that the American economy could be poised for a very strong fourth quarter. One top economist, Aneta Markowska of Jefferies, estimates that real gross domestic product growth is on track to reaccelerate to about 7% in the fourth quarter. However, worries over interest rates spiking higher soured the mood, and the sellers showed up in the afternoon for stocks and across the Treasury curve.

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 23, 2021.

AbbVie Inc. (NASDAQ: ABBV): Societe Generale upgraded the pharmaceutical leader from Hold to Buy with a gigantic $172 price target. The consensus target is just $128.32. Monday’s final print was reported at $115.65.

Altice USA Inc. (NYSE: ATUS): Loop Capital resumed coverage of the shares with a Hold rating and nudged the $20 target price down to $19. The consensus target is much higher at $28.79. The last trade on Monday came in at $16.94.

Amazon.com Inc. (NASDAQ: AMZN): Guggenheim resumed coverage of the technology leader with a Buy rating and a $4,300 price target. The consensus target is $4,068.37. The last trade on Monday was reported at $3,572.57.

Celanese Corp. (NYSE: CE): KeyBanc Capital Markets downgraded the stock to Sector Weight from Overweight. Shares have traded in a 52-week range of $115.42 to $174.05 and carry a $191.21 consensus price objective. They were last seen on Monday at $166.