The futures were lower Monday, as shell-shocked investors return for a full week of trading after the worst week for equities in almost two years. All the major indexes were obliterated on Friday, and the selling also seeped into the Treasury market, as investors looking for a safe haven bought bonds across the curve. Inventors will be watching earnings this week from Apple, Intel, Microsoft, Tesla and other industry giants.
The worrisome item for stock investors is that the S&P 500 blew through and closed well below the 200-day moving average on Friday, a level that had held since May of 2000. This could trigger more selling in the venerable index, where the next major support could rest as low as 4,300, and then perhaps even on to the next support at 4,200. One thing is for sure. The Federal Reserve cannot bail out equity investors this time, so the die may be cast.
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 24, 2022.
Aflac Inc. (NYSE: AFL): Wolfe Research started coverage on the insurance company’s stock with a Peer Perform rating and a $63 price target, The consensus target is $60.55. The final trade on Friday came in at $60.86.
Antero Resources Corp. (NYSE: AR): Goldman Sachs upgraded the stock to Buy from Neutral and pushed the $21 price objective to $24. The consensus target is $27.38. The stock closed trading on Friday at $16.97.
Arista Networks Inc. (NYSE: ANET): Citigroup upgraded the shares to Buy from Neutral and has a $150 price target. The consensus target is $139.91. The final trade on Friday was reported at $118.63.
Boise Cascade Co. (NYSE: BCC): Goldman Sachs upgraded the stock to Neutral from Sell and lifted $55 the target price to $77. The consensus target is $69. The shares were last seen on Friday at $68.76.
Cloudflare Inc. (NYSE: NET): Credit Suisse raised its Neutral rating to Outperform but slashed the target price to $140 from $205. The consensus target is $180.89. Friday’s closing share price of $88.55 was down over 5% on the day.
Cognizant Technology Solutions Corp. (NASDAQ: CTSH): UBS upgraded the shares to Neutral from Sell and boosted the target price to $80 from $58.50. The consensus target is $89.75, and the shares ended trading on Friday at $84.26.
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