The futures were flat on Tuesday, after an attempted follow-through Monday when all the major indexes reversed once again, turning a rally into a late-day sell-off. Only the Dow Jones industrials eked out a tiny gain, while the S&P 500 and the Nasdaq closed lower.
The main talking points across Wall Street once again are the concerns about interest rate hikes, which are slated to start in March, and the possibility that Russia may invade Ukraine as early as this week. A big deal was announced in the transports sector, with Frontier Airlines and Spirit Airlines agreeing to a $6.6 billion cash and stock merger. Reports indicate this will create the sixth-largest U.S. airline.
Yields were mostly flat after last week’s big move higher, with many of the Treasury dealers waiting for Thursday’s producer price index report. The PPI is slated to come in at 7.3%, versus the 7.0% print in December. West Texas Intermediate and Brent crude both saw some selling to open the week, but both remained near $90 a barrel.
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, February 8, 2022.
Apple Inc. (NASDAQ: AAPL): The iPhone maker has once again flexed its financial firepower, resilient supply chain, expanding services segment and more, says Zacks, which named it the Bull of the Day stock. The shares most recently closed at $171.66 and have a consensus price target of $190.29, which would be a 52-week high.
Bilibili Inc. (NASDAQ: BILI): Barclays started coverage with an Equal Weight rating and a $32 price objective. The consensus target is a staggering $96.21. The shares were last seen on Monday at $32.31, which was down close to 4% for the day.
Continental Resources Inc. (NYSE: CLR): RBC Capital Markets changed its Sector Perform rating on the energy leader to Outperform with a $70 target price. The consensus target is lower at $56.06. Monday’s closing trade was at $57.11 a share.
Diversey Holdings Ltd. (NASDAQ: DSEY): Goldman Sachs cut its Buy rating to Neutral and slashed the $20 price target to $12. The posted consensus target is $17.70. The final trade on Monday was reported at $10.49.
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