The futures were lower on Monday after a rough risk-off week for investors. While the Dow Jones industrials were able to eke out a small gain Friday, both the S&P 500 and the Nasdaq closed lower. In addition, both the five-year and 10-year Treasury notes hit 52-week highs for yields, as there were sellers on every maturity across the curve. The spike in rates, combined with the spike in Omicron cases, is being blamed for last week’s damage. With fourth-quarter earnings on deck, investors will start getting a slew of data this week, and many on Wall Street feel the results will be very solid.
Top strategists and financial media pundits have cited the very hawkish tone from the December FOMC minutes as the driving force behind the big risk-off moves last week. Toss in the fact that the market was very overbought and valuations are very stretched, so the buy-the-dip crowd has remained largely on the sidelines.
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 Monday, January 10, 2022.
Airbnb Inc. (NASDAQ: ABNB): Jefferies resumed coverage of the popular vacation rental site with a Buy rating and a $220 price target. Piper Sandler downgraded the stock to Neutral from Overweight and has a $169 target price. The consensus target is $196.29. The last trade on Friday was recorded at $166.05, which was up almost 4% for the day.
Albertsons Companies Inc. (NYSE: ACI): Telsey Advisory reiterated its Outperform rating on the supermarket giant and bumped the $35 target price to $37. That compares with the $32.89 consensus target and Friday’s closing print of $31.21.
AT&T Inc. (NYSE: T): Wells Fargo upgraded the legacy telecommunications giant to Equal Weight from Underweight and raised the target price to $27 from $26. The consensus target is $30.26, and shares closed most recently at $26.29.
Allegheny Technology Inc. (NYSE: ATI): Berenberg raised its Hold rating to Buy with a $25 price target. The consensus price target is $23.78. The shares closed on Friday at $18.26.
Duke Energy Corp. (NYSE: DUK): BMO Capital Markets downgraded the utility to Market Perform from Outperform and has a very low $68 price target. The consensus target is much higher at $106.98. The last trade for Friday came in at $104.50.
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