Investing

Monday's Top Analyst Upgrades and Downgrades: Alibaba, Caterpillar, Coinbase, DraftKings, JPMorgan, Marriott, Rivian, Toast, Twilio, Walmart and More

The futures were lower Monday, as we start the new trading week on the heels of a massive risk-on rally Friday that many across Wall Street were chalking up to extremely oversold conditions and a large degree of short covering. Despite Friday’s rally, the same conditions that have caused selling for the better part of this year remain in place: very hawkish monetary policy, consumer sentiment hitting an 11-year low, 40-year high inflation, the China lockdowns and, of course, the ongoing war in Ukraine.

While all the major indexes closed higher on Friday for the first time in a while, it was not enough to save a horrific week, as the Dow Jones industrials closed with a seventh weekly loss in a row, marking the longest losing streak for the venerable index since 2001. The S&P 500 slid 2.4% to post its longest weekly losing streak since 2011, and the Nasdaq Composite dropped 2.8%.

Yields were higher across the Treasury curve Friday, when the five-year and 10-year notes and the benchmark 30-year bond yields all closed at least 10 basis points higher. Both Brent and West Texas Intermediate crude closed up nearly 4%, while natural gas closed lower, down less than 1%. Gold closed lower, and Bitcoin, which was throttled along with all the cryptocurrencies last week, ended Friday at $30,005, up nearly 4%.

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, May 16, 2022.

Albemarle Corp. (NYSE: ALB): Jefferies reiterated a Buy rating on the company, which analyst feels is well-positioned in the lithium market, and has a $290 price target. The consensus price objective is $275.21. The closed over 7% higher on Friday at $228.82.

Alibaba Group Holding Ltd. (NYSE: BABA): J.P. Morgan upgraded the shares from Underweight to Overweight and boosted the $75 price target to $130. The consensus target is up at $173.87. The shares closed almost 9% higher on Friday at $87.99.

Analog Devices Inc. (NASDAQ: ADI): Oppenheimer reiterated an Outperform rating in front of this week’s earnings report and has a $210 target price. The consensus target for the chip giant is $203.20. The closed almost 4% higher on Friday at $158.74.


Ball Corp. (NYSE: BALL): Jefferies reiterated a Hold rating and an $87 target price. The shares have traded as high as $98.09 in the past year but closed at $69.71 on Friday.

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