The futures were higher Tuesday, after a very solid opening to the new trading year. The Dow Jones industrials and the S&P 500 again hit all-time highs, while the Nasdaq also posted a solid opening day gain. Wall Street is back up and running after the holiday break, and many are pointing to the massive amount of expected inflows for January as a huge positive for stocks this month.
With much of the Federal Reserve’s forward-looking initiatives now baked in, including the rate lift-off and faster quantitative easing tapering in 2022, Wall Street is continuing to focus on the big increases in energy and food costs and other spiraling inflation issues. While top strategists and economists are divided on when the current inflation increase will ease, the ongoing supply chain concerns and stagflation worries remain front and center.
24/7 Wall St. reviews dozens of analyst research reports each day of the week with a goal of finding fresh 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, January 4, 2022.
Boston Properties Inc. (NYSE: BXP): Deutsche Bank upgraded the shares to Buy from Hold and has a $131 price target. The consensus target is $124. The last trade for Monday was reported at $119.94, which was up over 4% for the day.
Broadcom Inc. (NASDAQ: AVGO): Piper Sandler reiterated its Overweight rating and lifted the target price on the stock to $750 from $680. The consensus target is $667.43, and Monday’s last trade was at $663.32.
Carrier Global Corp. (NYSE: CARR): Vertical Research cut the stock its Buy rating to Hold with a $57 price target. The consensus target is $59.47. The stock closed Monday at $52.52, down over 3% on the day.
Canadian Pacific Railway Ltd. (NYSE: CP): Susquehanna raised its Neutral rating to Positive and lifted the target price from $73 to $87. The consensus target is $83.13. The stock closed Monday at $71.75.
Coca-Cola Co. (NYSE: KO): Guggenheim upgraded the soft drink giant to Buy from Neutral and lifted the $61 target price to $66. The consensus target is $62.68. The stock closed trading Monday at $59.30.