Monday's Top Analyst Upgrades and Downgrades: Alcoa, Altria, Deere, Emerson Electric, Moderna, Philip Morris, Shopify and More

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The futures traded mixed Monday, after another wild week on Wall Street. The major indexes closed mixed Friday, with the Dow Jones industrials and the S&P 500 posting gains and the Nasdaq closing modestly lower. A big surge in interest rates caused an inversion between the five-year and the 10-year Treasury notes, which spawned yet more concerns over the potential for a recession later this year, with a case of stagflation added to the cauldron. All the yields across the Treasury curve closed higher on Friday, with the five-year note jumping a stunning 20 basis points, and the benchmark 10-year note 15 basis points.

Oil prices jumped Friday as well, after unconfirmed reports of a drone attack on Saudi Aramco’s oil facility in Jeddah. Brent crude finished the day at $120, while West Texas Intermedia was last seen at $114. Gold also closed higher, adding to the previous week’s gains.

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, March 28, 2022.

Alaska Air Group Inc. (NYSE: ALK): Goldman Sachs reiterated a Buy rating on the shares after a positive investors day. The analyst has an $80 target price, higher than the $71.17 consensus target. The final trade last Friday was posted at $57.44.

Alcoa Corp. (NYSE: AA): Goldman Sachs reiterated a Buy rating for the stock, which is on the firm’s Conviction List, and raised the $105 target price to $115. That compares with a much lower and somewhat surprising consensus target of $83.17. The shares closed trading on Friday at $91.96.

Altria Group Inc. (NYSE: MO): RBC Capital Markets downgraded the tobacco giant from Outperform to Sector Perform with a $53 price objective. The consensus target is $54.61, and Friday’s closing print was $53.62. As it is trading just shy of a 52 -week high, this may be a valuation call.

Amcor PLC (NYSE: AMCR): Truist Securities started coverage with a Hold rating and a $12 target price. The consensus target is $12.56, and the stock closed on Friday at $11.34.

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