The futures trended higher Monday, after another rollercoaster trading day on Friday. All the major indexes made massive back and forth moves after the nonfarm payrolls shocked many across Wall Street, who expected the Omicron surge to shut down hiring. The major indexes ended higher, except for a tiny loss for the Dow Jones industrials.
The Treasury bond market saw another day of big selling as yields across the curve went higher, with both the 5-year and 10-year notes ending at the highest yields in a year. Oil continued its move higher with both West Texas Intermediate and Brent crude closing well over the $90 level. The consumer price index reading for January on Thursday will be this week’s biggest datapoint, with a forecast of 7.3%, versus December’s 7.0%.
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, February 7, 2022.
Bill.com Holdings Inc. (NYSE: BILL): Oppenheimer reiterated an Outperform rating but slashed the target price on the shares to $285 from $370. Evercore ISI reiterated an In Line rating and lowered its price target from $300 all the way to $200. BMO Capital Markets kept an Outperform rating and raised its price target to $258 from $209. The consensus target is $306.63. The stock closed up over 36% on Friday, at $231.67, after the company predicted a very positive fiscal-year revenue outlook.
BJ’s Wholesale Club Holdings Inc. (NYSE: BJ): Deutsche Bank upgraded shares of the popular retailer to Buy from Hold and lifted the target price to $74 from $69. The consensus price objective is $75.89, and the shares closed Friday at $59.85.
Buzzfeed Inc. (NASDAQ: BZFD): BofA Securities started coverage with a Neutral rating and a $5 target. The consensus target is $7.25. The shares closed Friday at $4.47, up over 5% on the day.
Cigna Corp. (NYSE: CI): Deutsche Bank cut its rating on the health care heavyweight to Hold from Buy and dropped the price objective to $236 from $260. That compares with the $265.56 consensus price target and Friday’s closing print of $221.37.
ConocoPhillips (NYSE: COP): Raymond James reiterated a Strong Buy rating on the integrated energy giant and lifted the price objective to $120 from $107. Truist maintained a Buy rating and raised the target price to $115 from $11, while Wells Fargo kept an Overweight rating and hiked its $95 target to $114. The stock has a $97.51 consensus target, and the stock closed on Friday at $91.87.
Deckers Outdoors Inc. (NYSE: DECK): Cowen reiterated an Outperform rating but slashed the $478 price objective to $358. Jefferies maintained a Buy rating and dropped the price target on the popular boots and clothing retailer to $450 from $525. BTIG Research reiterated a Buy rating, and it bumped up the $480 target price up to $487. The consensus target is $474.23. The final trade last Friday was at $303.71 a share, which was down almost 6% for the day.
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