The futures were down across the board as we close out the holiday-shortened trading week, one that most are ready to see come to an end. The markets tried for yet another snapback rally on Thursday, but that faded in the final hour of trading, with all the major indexes, including the badly damaged Russell, posting losses yet again. Most across Wall Street chalked up the early buying to the market being very oversold, as the Nasdaq actually has slipped into correction territory, and it went even deeper by the close. Treasury yields were up across the curve, as the sellers returned Thursday.
Many on Wall Street continue to focus on the big increases in energy and food costs and the other spiraling inflation issues. While 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.
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 Friday, January 21, 2022.
Ashland Global Holdings Inc. (NYSE: ASH): Wells Fargo downgraded the stock to Equal Weight from Overweight and dropped the target price to $110 from $120. The consensus target is $124. The final trade on Thursday was reported at $98.09.
Ball Corp. (NYSE: BLL): Morgan Stanley downgraded the shares to Equal Weight from Overweight and reduced the price objective to $100 from $110. The consensus target is $102.18. Thursday’s last trade came in at $90.54.
Beyond Meat Inc. (NASDAQ: BYND): HSBC Securities raised the Reduce rating on plant-based food stock to Hold with a $62 target price. The consensus target is $72.43. The final trade Thursday was reported at $61.42.
Carvana Co. (NYSE: CVNA): KeyBanc Capital Markets downgraded the stock to Sector Weight from Overweight. Over the past year, the shares have traded between $147.67 and $376.83, and they have a $356.73 consensus price objective. The closing share price on Thursday was $157.99.
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