The futures traded higher across the board Tuesday, after a massive Monday rally that sent all the major indexes and the transports higher. The only selling witnessed was in the Treasury bond market, where yields were higher across the curve. While the Omicron variant is still getting plenty of attention, the market seems to be focusing more on vaccines that can be tweaked to account for the new strain.
The biggest data point this week that could shake up the markets comes on Friday, as the Consumer Price Index report will come out just five days before Federal Reserve policymakers huddle up to discuss inflation risks. Wall Street economists and strategists are expecting the headline CPI number to hit a stunning 6.7%, which would be the highest rate posted since 1982. If a larger number hits the tape, we could see a big risk-off move.
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, December 7, 2021, the 80th Anniversary of the attack on Pearl Harbor that marked America’s entrance into World War II.
Armstrong World Industries Inc. (NYSE: AWI): Exane BNP Paribas upgraded the stock to Outperform from Neutral and has a $145 price objective. The consensus target price is much lower at $115. The shares were last seen Monday at $112.50, up over 4% for the day.
Bloomin’ Brands Inc. (NASDAQ: BLMN): Zacks named this as its Bear of the Day stock, suggesting that restaurant stocks may have bounced back a little too much before earnings caught up. Shares last closed at $19.35, though they have traded as high as $32.81 in the past year.
Boston Beer Co. Inc. (NYSE: SAM): Cowen upgraded the popular beer brewer from Underperform to Market Perform with a $500 price target. The consensus target is up at $604.43. Monday’s final trade was reported at $492.26, after close to a 7% gain for the day.
Bumble Inc. (NASDAQ: BMBL): JPMorgan raised its Neutral rating to Overweight with a $55 price target. The consensus target for the dating app operator is $57.93. The stock closed Monday at $33.35, up almost 5% on the day, and the shares were up an additional 7% in the premarket following positive comments from Raymond James.