The futures were lower Thursday, after an attempt at a follow-through second day of the risk-on rally succeeded and all the major indexes and the transports closed dramatically higher. As expected, the Federal Reserve raised interest rates 25 basis points for the first time since 2018, and it is expected the Fed will raise the same quarter point during the next six meetings planned for this year. Treasury note and bond yields were higher across the curve, as the move by the central bank was widely anticipated, but yields once again all closed at 52-week highs.
Oil prices were essentially flat, and gold was marginally lower after a big move above the $2,000 per ounce level recently. The lower commodity prices and very oversold conditions are being attributed as the reason for the two-day rally. Toss in some supportive comments from China, and the possibility for continued progress in the talks between Russia and Ukraine, as other reasons for the turn around.
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 Thursday, March 17, 2022.
Adobe Inc. (NASDAQ: ADBE): Stifel lowered the $700 price target on the technology heavyweight to $600 while maintaining a Buy rating on the stock. The consensus target is $642.44. The final trade on Wednesday was reported at $442.36, which was up nearly 5% for the day.
American Airlines Group Inc. (NYSE: AAL): Goldman Sachs kept a Sell rating on the carrier while slicing the $14 target price to $12. The consensus target is $17.40, and the stock closed almost 6% higher on Wednesday to $16.47.
Atlas Technical Consultants Inc. (NASDAQ: ATCX): Stifel raised the price target on the Buy-rated shares to $16 from $13. The consensus target is $14.33. The stock closed on Wednesday at $11.45.
BWX Technologies Inc. (NYSE: BWXT): BofA Securities raised its $55 price target to $65 while maintaining a Buy rating. The consensus target is $62.13. The last trade on Wednesday hit the tape at $52.49.
Coupa Software Inc. (NASDAQ: COUP): Goldman Sachs maintained a Buy rating on the stock but slashed the $251 target price to $83. The consensus target is $193.57 for now. The shares closed Wednesday at $79, up almost 9%, after getting crushed earlier in the week on disappointing forward guidance.
Delta Air Lines Inc. (NYSE: DAL): Zacks named this stock as its Bear of the Day. The analyst says that even though this airline has beaten the number more often than not of late, estimates have slipped. Shares have traded as high as $51.82 in the past year but closed most recently at $36.93, down more than 5% year to date.
Dole PLC (NYSE: DOLE): Goldman Sachs lowered the price target on the shares to $22 from $25. The analyst also kept a Buy rating on the stock. The consensus target is lower at $18.83. The shares were last seen on Wednesday at $14.20.
Enfusion Inc. (NYSE: ENFN): Goldman Sachs slashed its $24 target price to $15 while reiterating a Neutral rating on the stock. The consensus target is $24.17. The last trade on Wednesday was at $13.84, up almost 10% on the day.
Ferguson PLC (NYSE: FERG) Baird reiterated an Outperform rating on the stock and has a $196 target price. The shares have traded as high as $183.67 in the past year and closed on Wednesday at $144.39.
Host Hotels & Resorts Inc. (NASDAQ: HST): Raymond James upgraded the stock to Outperform from Market Perform and has a $21 target price. The consensus target is $20.79. The stock closed at $18.86 on Wednesday.
Magna International Inc. (NYSE: MGA): Raymond James upgraded the stock to Market Perform from Underperform and has a $68 price objective. The consensus target is up at $107.20. The final trade Wednesday was at $60.96 a share, a gain of close to 5% for the day.
Nio Inc. (NYSE: NIO): Citigroup started coverage with a Buy rating. Over the past 52 weeks, shares of the electric car company have traded between $13.01 and $55.13, and they have a $51.87 consensus target. The last trade on Wednesday was reported at $18.75, up a stunning 25% after China said it would support U.S.-listed shares after all.
Novo Nordisk A/S (NYSE: NVO): Deutsche Bank upgraded the shares of the European biotech giant to Buy from Hold. The stock has traded in a 52-week range of $66.59 to $117.35, and it has a $115.41 consensus target. Shares closed 4% higher on Wednesday to $106.24.
PGT Innovations Inc. (NYSE: PGTI): Soaring energy prices and rampant inflation will help this stock over the next several quarters, says Zacks, which selected it as the Bull of the Day stock. The shares most recently closed at $21.55, and the consensus price target is $27.50.
Precision BioSciences Inc. (NASDAQ: DTIL): Stifel lowered the price target to $16 from $19, but the firm kept its Buy rating on the stock. The consensus target is $14.67. The stock closed on Wednesday at $3.03.
Ralph Lauren Corp. (NYSE: RL): J.P. Morgan’s upgrade was from Neutral to Overweight with a $142 price target. The consensus target for the fragrance and clothing company is $142.72. The stock closed on Wednesday at $114, up close to 6% on the day.
Revolve Group Inc. (NASDAQ: RVLV): Needham began coverage with a Buy rating and a $60 target price. The posted consensus target is $69.00. The final trade for Wednesday was reported at $47.03, an increase of close to 8% for the day.
Roblox Corp. (NYSE: RBLX): Stifel reiterated a Buy rating but lowered the $90 price objective to $65. That compares with the consensus target of $74.92 and Wednesday’s closing print of $41.51. That was almost a 10% gain for the day.
SentinelOne Inc. (NYSE: S): BofA Securities reiterated a Buy rating but lowered the target price to $54 from $67. The consensus target is $62.28. Wednesday’s closing share price of $35.05 was up a staggering 14% after the cybersecurity company posted outstanding earnings results.
Smartsheet Inc. (NYSE: SMAR): While Truist Securities maintained a Buy on the stock, it also lowered its $100 target price to $65. The consensus target is $85.33, and the stock closed trading on Wednesday at $44.66.
uniQure N.V. (NASDAQ: QURE): UBS upgraded the stock to Buy from Neutral and has a $40 target price. The consensus target is much higher at $60.39. The last trade on Wednesday came in at $15.89, almost a 6% gain on the day.
Walt Disney Co. (NYSE: DIS): Truist Securities kept a Buy rating on the media and entertainment giant but lowered the target price to $160 from $200, citing multiple compression. The shares have traded in a 52-week range of $128.38 to $196.33 and were last seen on Wednesday at $138.14, after rising nearly 3% on the day.
Zebra Technologies Corp. (NASDAQ: ZBRA): Baird reiterated an Outperform rating and has a $555 target price. The consensus target is even higher at $600.20. The stock closed on Wednesday at $401.65, up almost 4% for the day.
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Wednesday’s early top analyst upgrades and downgrades included APA, Archer Daniels Midland, Coupa Software, Diamondback Energy, eBay, Micron Technology, Nvidia, Pioneer Natural Resources, Ross Stores, SoFi Technologies, Starbucks and Toast. Analyst calls seen later in the day were on Acadia Pharmaceuticals, Constellation Energy, Edwards Lifesciences, Host Hotels & Resorts, Johnson & Johnson, Magna International and more.
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