The futures were mixed Monday, after the big Super Bowl win by the Los Angeles Rams. The stock market continued its downward spiral on Friday after yet another aborted rally attempt fell apart. Comments last week by St. Louis Federal Reserve President Bullard continue to haunt traders, as he supports a 100 basis point, or 1%, increase in the federal funds rate by July 1, with a 50 basis point increase in March. While other Fed members walked that back, reports indicate that the CME FedWatch tool feels there is a 77.3% chance of that happening, versus the 93.8% last Thursday.
Once again sellers have returned to the Treasury markets, as both the five-year and 10-year note yields posted 52-week highs, with the 10-year at the highest yield since late 2019. Oil prices also shot almost 5% higher Friday, as Canadian oil exports to the United States hit record levels. This after the United States became a net exporter of oil just a few years ago.
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 14, 2022.
Bunge Ltd. (NYSE: BG): BofA Securities upgraded the shares to Buy from Neutral and lifted the target price to $120 from $105. The stock was last seen on Friday trading at $101.69 a share.
Carpenter Technology Corp. (NYSE: CRS): JPMorgan raised its Neutral rating to Overweight, and its target price ticked up to $53 from $52. The consensus target is $43.25. The stock closed on Friday at $38.73, up almost 17% after posting incredible fiscal second-quarter results.
Chesapeake Energy Corp. (NASDAQ: CHK): JPMorgan started coverage with an Overweight rating and an $85 price objective. That compares with a much higher $98.82 consensus and Friday’s closing print of $69.15, which was up over 5% for the day.
Chewy Inc. (NYSE: CHWY): Zacks selected this as its Bear of the Day, suggesting that the road may be bumpy a little while longer for this online pet retailer. The stock has traded as high as $120.00 in the past year but closed on Thursday at $52.10, which is more than 16% lower year to date.
Cloudflare Inc (NYSE: NET): Stifel reiterated a Hold rating on the shares but lifted the price target to $128 from $113. Credit Suisse kept an Outperform rating and boosted the $140 target price to $150. Piper Sandler and Baird both maintained a Neutral rating, but Piper Sandler hiked its price target to $125 from $115 while Baird slashed its $210 target price to $130. The consensus target is $743.12, and Friday’s final trade was almost 10% lower for the day to $104.92, despite results that were in line with expectations.
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