Markets pushed higher to start out the week, with each of the major U.S. equity indexes posting a gain. The Nasdaq led the charge higher, up around 1%, while the Dow Jones industrials and S&P 500 lagged, each up roughly 0.6%. This comes as the most recent round of inflation data is on the horizon.
Be on the lookout, as a couple of big inflation reports are coming out this week. The consumer price index (CPI) and producer price index (PPI) for July are due on Wednesday and Thursday, respectively.
According to Bloomberg, the CPI inflation print is expected to come in at 8.7%, which is a slight moderation from June’s 9.1% reading. The move lower is expected due to lower gasoline prices, among other factors.
24/7 Wall St. is reviewing additional analyst calls seen on Monday. We have included the latest call on each stock, as well as a recent trading history and the consensus targets among analysts. Note that analyst calls seen earlier in the day were on Comcast, Fisker, Monster Beverage, Paramount, Twitter and more.
Coinbase Global Inc. (NASDAQ: COIN): Daiwa Securities downgraded the stock to Outperform from Buy and halved the $200 price target to $100. The 52-week trading range is $40.83 to $368.90, and shares traded near $99 apiece on Monday.
Global Blood Therapeutics Inc. (NASDAQ: GBT): Guggenheim’s upgrade was from Neutral to Buy with a $135 price target. The 52-week trading range is $21.65 to $73.02. Shares changed hands near $67 apiece on Monday.
Grab Holdings Ltd. (NASDAQ: GRAB): Though J.P. Morgan lowered its Overweight rating to Neutral, the firm also raised its $3 price target to $3.80. The shares traded at around $4 on Monday. The 52-week range is $2.26 to $17.15 a share.
Leslie’s Inc. (NASDAQ: LESL): Telsey Advisory’s downgrade to Market Perform from Outperform included a price target cut to $16 from $28. The 52-week trading range is $13.65 to $25.73, and the share price was near $15 Monday.
Nektar Therapeutics (NASDAQ: NKTR): J.P. Morgan downgraded the shares to Underweight from Neutral. The 52-week trading range is $3.02 to $19.37. The stock traded near $5 on Monday.
Park Hotels & Resorts Inc. (NYSE: PK): SMBC Nikko downgraded to a Neutral rating from Outperform with a $16 price target. The 52-week trading range is $12.90 to $21.62, and shares were trading near $15 on Monday.
Rocket Companies Inc. (NYSE: RKT): Keefe Bruyette downgraded it to Underperform from Market Perform and has a $6.50 price target. The stock traded near $9 on Monday, in a 52-week range of $6.27 to $19.55.
Roku Inc. (NASDAQ: ROKU): Pivotal Research downgraded the stock to Sell from Hold and has a $60 price target. The stock traded near $80 on Monday, in a 52-week range of $62.00 to $405.34.
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