The futures were down on Tuesday after the latest Producer Price Index numbers and after a serious risk-off Monday in which all the major indexes and the transports closed down big. The selling was not surprising after the markets posted the best week in 10 months last week. Again the blame from some pundits across Wall Street was the Omicron variant, (which posted its first reported death Monday) despite some reasonably good chatter about existing vaccines and those in the works.
In addition, monetary policy remains front and center, as portfolio managers and traders price in a faster increase in tapering and an early lift off for rate increases. Treasury buyers were seen across the curve as yields declined.
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 14, 2021.
Apple Inc. (NASDAQ: AAPL): BofA Securities raised the technology heavyweight to Buy from Neutral and raised the price target to $210 from $160. The consensus target is $172.55. The stock closed Monday at $175.74.
Avalara Inc. (NASDAQ: AVLR): Goldman Sachs began covering the stock with a Buy rating and a $200 price target, which is lower than the consensus of $212.17. Monday’s closing trade was reported at $142.94.
Beyond Meat Inc. (NASDAQ: BYND): Piper Sandler raised the plant-based food stock to Neutral from Underweight and nudged the $61 target price to $64. The consensus target is higher at $74.14. Monday’s closing share price was $63.42.
Cambium Networks Corp. (NASDAQ: CMBM): JPMorgan downgraded the stock to Neutral from Overweight and slashed the price target to $30 from $49. The consensus target is $52.38. The last trade on Monday was reported at $22.99.