The futures were mixed Tuesday, after a brutal Monday risk-off session to start the week. While all the major indexes closed off of the lows, with the Nasdaq actually scratching out a gain, the song remains the same as rising interest rates, along with a continued surge in COVID-19 cases, have been the driving forces behind the pullback. Goldman Sachs was reported as saying that we could see as many as four interest rate increases this year, with the first one as early as March.
Many on Wall Street are continuing to focus on the big increases in energy and food costs and other spiraling inflation issues. While most strategists and economists are divided on when the current inflation surge will ease, the ongoing supply chain concerns and stagflation worries remain front and center, and they will until the price increases start to decline.
Traders and investors will be focused on the December consumer price index reading scheduled for Wednesday, and many Wall Street professionals also will be looking for Friday’s retail sales report. In addition, fourth-quarter earnings kick off this week as the big banks will be out with what are expected to be strong results starting on Friday.
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 11, 2022.
Advanced Micro Devices Inc. (NASDAQ: AMD): KeyBanc Capital Markets upgraded the semiconductor powerhouse from Sector Weight to Overweight with a $155 target price. The consensus target is $142.50. The last trade on Monday saw the stock at $132.00 a share.
Ambarella Inc. (NASDAQ: AMBA): BofA Securities reiterated its Underperform rating on the stock, despite raising the price target to $140 from $119. The consensus price target is much higher $221.44. The final trade on Monday came in at $154.47.
Brixmor Property Group Inc. (NYSE: BRX): Jefferies upgraded the stock to Buy from Hold and boosted the target price to $29 from $25. The consensus target is $26.78. The stock closed trading on Monday at $26.01.
Clean Harbors Inc. (NYSE: CLH): Raymond James upgraded the stock to Strong Buy from Outperform and lifted the $120 target price to $125. The consensus target is $120. The closing share price on Monday was $99.50.
Core & Main Inc. (NYSE: CNM): RBC Capital Markets raised its Sector Perform rating to Outperform with a $33 price target. The consensus price objective is $33.75, and Monday’s last trade of the day was reported at $25.75.
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