The futures were higher across the board on Thursday, after the markets tried hard Wednesday for a follow-through rally. While the Dow Jones industrials were up big on the back of some of the strongest numbers from IBM in years, the Nasdaq was crushed, with the guilty party being a 36% collapse in Netflix stock price after the company reported losing 200,000 subscribers. That also had other streaming companies, like Disney, down big as well. The S&P 500 ended trading with a small loss, and the Russell 2000 closed the day with modest gains, while the surprise winner was the utility stock index, which printed a 52-week high.
The Treasury market saw buyers return in a big way across the curve, after yields this week hit the highest levels in years. The 30-year bond, which printed over 3% on Tuesday, closed Wednesday at a 2.88% yield, down 11 basis points. Brent and West Texas Intermediate crude were flat, while natural gas took another hit, down over 3%, and gold closed modestly higher.
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, April 21, 2022.
Alkermes PLC (NASDAQ: ALKS): Goldman Sachs started coverage with a Buy rating and a $35 price target. The consensus target is $28.33. The last trade on Wednesday came in at $29.45, which was up over 3% for the day.
Bed Bath & Beyond Inc. (NASDAQ: BBBY) This struggling retailer is the Zacks the Bear of the Day. The analyst suggests that the “rebuild hit a supply chain speed bump.” The stock has traded as high as $44.51 in the past year but closed most recently at $16.38 a share. That is down almost 26% in the past month.
Block Inc. (NYSE: SQ): Baird kept a Neutral rating on the shares in front of first-quarter results, and it has a $128 target price. The consensus target is up at $179.45. The last trade on Wednesday came in at $114.52, down almost 9% on the day.
Citizens Financial Group Inc. (NYSE: CFG): Baird maintained an Outperform rating with a $58 price target. The consensus target is $54.72. The last trade on Wednesday was reported at $44.32.
Dentsply Sirona Inc. (NASDAQ: XRAY): Goldman Sachs lowered the $59 price target on the Neutral-rated shares to $47. The consensus target is $60.75. The final trade on Wednesday came in at $42.89.
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