Tuesday morning futures were holding barely positive after the Bureau of Labor Statistics released record inflation data. A closer look at the report shows that the inflation data is not looking pretty, and there could be big implications in the coming months. Analysts were expecting to see the consumer price index inflation print come in at an 8.4% year-over-year increase, whereas the number came in closer to 8.5%, which would be the single biggest leap since 1981.
As we already know, the Federal Reserve is watching this number closely, as well trying to figure out by how much to boost interest rates in the coming months. The minutes from the Fed’s March meeting suggest that a 50-basis-point interest rate hike is on the table soon. After Tuesday’s inflation numbers, this seems even more likely.
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, April 12, 2022.
Aptiv PLC (NYSE: APTV): Wells Fargo upgraded the stock to Equal Weight from Underweight and raised the price target to $112 from $108. The consensus target is $162.04. The last trade on Monday was reported at $108.21 a share.
Brighthouse Financial Inc. (NASDAQ: BHF): Wells Fargo upgraded the shares to Equal Weight from Underweight and raised the $53 price target to $54. The consensus target is $58.10, and Monday’s closing share price was $51.57.
Cardinal Health Inc. (NYSE: CAH): Morgan Stanley’s upgrade was from Equal Weight to Overweight with a $74 price target. The consensus target is $57.23. The final trade for Monday was reported at $61.38.
Charles Schwab Corp. (NYSE: SCHW): Compass Point raised its rating to Buy from Neutral and has a $98 price target. The consensus target is $106.23. The last trade Monday was for $81.58 a share.
Chegg Inc. (NYSE: CHGG): KeyBanc Capital Markets lowered its Overweight rating to Sector Weight. The consensus target is $45.00. Monday’s close was at $35.29 a share.
Cisco Systems Inc. (NASDAQ: CSCO): Citigroup’s downgrade to Sell from Neutral included a price target cut to $45 from $65. The consensus target is $63.91. The stock closed Monday at $52.88.
CrowdStrike Holdings Inc. (NASDAQ: CRWD): Goldman Sachs upgraded the shares to Buy rating Neutral and raised the $241 price target to $285. Shares last closed at $216.60 and have a consensus price target of $270.48.
Domino’s Pizza Inc. (NYSE: DPZ): Citigroup upgraded it to Buy rating Neutral and raised the $480 price target to $487. The consensus target is $468.49, and shares last closed at $387.92 apiece.
Ferrari N.V. (NYSE: RACE): Exane BNP Paribas lifted its Neutral rating to Outperform. The consensus target is $209.64. The closing share price on Monday was $220.76.
F5 Inc. (NASDAQ: FFIV): Morgan Stanley downgraded the stock to Equal Weight from Overweight and cut the $280 price target to $250. The consensus target is $243.38. Monday’s close was at $207.49.
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