Friday's Top Analyst Upgrades and Downgrades: Alcoa, Carvana, CSX, Dow, JetBlue, Lululemon, Netflix, Rio Tinto, Take-Two, Tesla, United Airlines and More

The futures were mixed, as we get ready to complete what has been an action-packed and very volatile week across Wall Street. All the major indexes closed lower Thursday, and once again some strong earnings reports, including a blockbuster quarter from Tesla, were cited as reasons for the initial risk-on move. But that faded big-time by the closing bell, with the Nasdaq leading the avalanche with over a 2% decline. Top analysts noted that the strong earnings reports continue pouring in despite supply chain issues and input cost pressures, and that overall all demand remains strong.

The sellers returned to the Treasury market Thursday, as yields were higher across the curve, with both the five-year and 10-year notes hitting 52-week highs. The trend looks to be returning, as traders prepare for next month’s 50-basis-point increase in the federal funds rate. That very well may be followed up by 75-basis-point hikes in both June and July, according to Nomura. Brent and West Texas Intermediate crude and natural gas closed higher on the day, while gold traded lower.

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 Friday, April 22, 2022.

Accenture PLC (NYSE: ACN): Baird maintained a Neutral rating on the stock and has a $378 target price. The shares closed trading on Thursday at $322.31 a share.

Alcoa Corp. (NYSE: AA): Goldman Sachs maintained a Buy rating with a $110 target price. The stock is on the firm’s Conviction List of top stock picks. The consensus target for the aluminum giant is $93.58. The stock closed Thursday at $72.20, down almost 17% after posting strong numbers, but the analysts noted that the free-cash-flow results were disappointing.

American Airlines Group Inc. (NASDAQ: AAL): J.P. Morgan raised its Underweight rating to Neutral, and its $18 price objective increased to $26. The consensus target is $17.74. The final trade for Thursday was reported at $20.22, which was up close to 4% for the day. Shares were almost 2% higher in the premarket.

Bally’s Corp. (NYSE: BALY): This casino operator is the Zacks the Bear of the Day. The analyst makes a case that investors are not betting on this stock right now. Shares traded as high as $62.76 in the past year but closed most recently at $29.64 a share. That is down about 22% year to date.

Carvana Co. (NYSE: CVNA): Stifel reiterated a Buy rating but cut the price target to $140 from $170. That compares with a higher $210.35 consensus target and Thursday’s final print of $83.14, which was down over 10% on the day.

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