The futures were mixed on Tuesday, after investors returned from the long Easter weekend to see that the song remains the same. All the major indexes closed lower on Monday, and Goldman Sachs came out with a prediction that there was currently a 35% chance for a U.S. recession over the next two years. With the Federal Reserve set to raise interest rates by 1% before the end of the second quarter, and the AAII Bull/Bear survey numbers at the lowest level since 1992, investors are clearly expecting the worst going forward.
The good news is that some top equity strategists on Wall Street feel we are close to hitting peak inflation. After last week’s dreadful consumer and producer price index readings, that would be a solid development. Oil traded higher on Monday, while natural gas exploded a stunning 7% higher. Gold closed up again and is approaching the $2,000 level.
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 19, 2022.
Antero Resources Corp. (NYSE: AR): Goldman Sachs transferred coverage on the shares and stayed with a Buy rating and a $44 price target. The posted consensus target is $36.77. The shares closed Monday at $36.28, which was up over 3% as natural gas exploded higher.
Apple Inc. (NASDAQ: AAPL): Rosenblatt started coverage of the technology giant with a Neutral rating and a $184 target price. The consensus target is higher at $193.49. The stock was last seen on Monday trading at $165.07.
Booz Allen Hamilton Holding Corp. (NYSE: BAH): Goldman Sachs upgraded the stock from Neutral to Buy with a $102 price objective. That compares with a $95.30 consensus and Monday’s closing print of $87.01.
Caesars Entertainment Inc. (NASDAQ: CZR): BofA Securities reiterated a Buy rating on the casino and gaming giant while lowering the $110 target price to $95. The consensus target is $118.07, and Monday’s closing share price was $68.37.
Clarivate PLC (NYSE: CLVT): Goldman Sachs lowered guidance of the shares but kept a Buy rating with a $20 target price. The consensus target is $19.14. The shares closed on Monday at $95.30.
Coinbase Global Inc. (NASDAQ: COIN): Oppenheimer maintained an Outperform rating with a $314 target price. The consensus target is just $294.40. The shares were closed on Monday at $145.16.
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