Tuesday's Top Analyst Upgrades and Downgrades: Alphabet, Amazon, DraftKings, Dun & Bradstreet, Lululemon Athletica, Western Digital and More

Investing

Published: August 9, 2022 9:01 am

Last Updated: February 8, 2023 12:24 pm

The futures were lower Tuesday, after a rousing risk-off rally to start the trading week fell apart by midday and the major indexes closed mostly lower. The Dow Jones industrials and the Russell 2000 each scratched out a small gain. With the consumer price index report for July on deck, you can bet that there could be a big move in either direction, depending on the results. The Democrats passed the $700 billion scaled-back tax-and-spend package over the weekend, with Vice President Harris casting the tie-breaking vote in the Senate, as not one Republican supported more spending in a time of severe inflation and, by definition, recession.

Yields across the Treasury curve were lower, after a huge run-up on Friday after the massive job report print. The five-year, 10-year and 30-year maturity yields were all six basis points and higher on the day, with the 30-year benchmark bond closing right at the 3% level.

After a week of selling, both Brent and West Texas Intermediate crude were higher on Monday, though both remain well below the $100 level. All the gains from the beginning of the war in Ukraine are gone. Natural gas finished the day down over 5%, while gold and Bitcoin closed higher.

24/7 Wall St. reviews dozens of analyst research reports each day of the week with a goal of finding new 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 on Tuesday, August 9, 2022.

Alliant Energy Corp. (NASDAQ: LNT): BofA Securities increased its $61 target price on the Neutral-rated stock to $62. The consensus target is $63.67. The stock closed on Monday at $61.05.

Alphabet Inc. (NASDAQ: GOOGL): BofA Securities reiterated a Buy rating and a $125 target after the company postponed eliminating cookies from chrome until late 2024. The consensus target for the tech and search behemoth is up at $147.51. Monday’s closing share price was $117.30.