The futures traded lower Monday, as investors return from the long holiday weekend with a degree of apprehension that seems to be mounting. Despite some positive results to kick off the first-quarter earnings-reporting season from some of the top banks and Delta Air Lines, the mood has grown extremely cautious after two down weeks in a row. While the chatter of an intra-meeting rate increase has died down, the massive consumer and producer price index prints last week all but ensure 50-basis-point increases for the federal funds rate in May and June.
Oil blasted higher last week, and prices at the pump, which had started to trend lower, look to be moving higher again. With the European Union starting to draft embargo sanctions on Russian oil, and demand starting to increase, the prospects for lower prices when the busy summer driving season starts are looking bleak. Gold continued to press higher toward the $2,000 level last week, as nervous investors are continuing to use the precious metal as a hedge against a major downturn.
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, April 18, 2022.
Aeva Technologies Inc. (NYSE: AEVA): Credit Suisse started coverage with an Outperform rating and a $6 target price. The consensus target is higher at $10. Thursday’s closing share price was $3.80.
Bed Bath & Beyond Inc. (NASDAQ: BBBY): Telsey Advisory cut the stock to Hold from Buy and trimmed the $18 target price to $15. The consensus target is $13.62, but shares closed on Thursday at $17.33.
Biogen Inc. (NASDAQ: BIIB): Wells Fargo upgraded the biopharmaceutical heavyweight to Overweight from Equal Weight and lifted the target price to $265 from $235. The consensus target is $244.86. The last trade on Thursday was reported at $212.55.
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Delta Air Lines Inc. (NYSE: DAL): UBS raised its Hold rating to Buy and lifted its $44 target price to $53. The consensus target is $52.82. The shares closed on Thursday at $42.36, which was up over 3% for the day.
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