The futures traded lower, after a rebound Monday that saw all the major indexes start the week off right, closing higher across the board. While last week was the busiest for earnings reports for the second quarter, this week also has a busy slate of top S&P 500 companies releasing their numbers. With the payroll data for July out of the way, all eyes on Wall Street will turn to the consumer price index (CPI) reading for July on Thursday. Over the weekend, Fed Governor Michelle Bowman said that more interest rate hikes are possible, and with energy prices spiking over the last month, it is possible that we could see an uptick in the CPI reading.

Treasury yields were mixed across the curve on Monday, with most of the light selling on the longer maturities. Bond traders will be closely watching the inflation data on Thursday, as any big spike in the inflation rate could set up the Federal Reserve for a September increase. The 10-year note finished Monday at 4.08%, while the two-year paper closed at 4.78%, keeping the inversion in place.

Brent and West Texas Intermediate both closed the day lower after profit-taking hit both of the oil benchmarks after a furious rally over the past month pushed prices to their highest levels since April. With OPEC and Saudi Arabia determined to put support under pricing with production cuts, it is a good bet that buyers will be using any weakness to add or initiate a position. Brent closed down 1.3% at $85.12, while WTI closed lower by 1.15% at $81.67. Natural gas had a solid start to the week, closing at $2.71, up almost 5%.

Gold was slightly lower to open the week, with the December contract closing the day at $1,969.40. Like all the asset classes, all eyes are focused on the inflation data Thursday. Bitcoin was also lower on the day, as the cryptocurrency giant closed at $28,979.50, down 0.21%.

24/7 Wall St. reviews dozens of analyst research reports each weekday 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 Wall Street analyst upgrades, downgrades and initiations seen on Tuesday, August 8, 2023.

Camping World Holdings Inc. (NYSE: CWH): The Hold rating at Truist Financial was lifted to Buy, and the $28 price target is now $35. The consensus target is $33.11. The stock closed on Monday at $28.29, up almost 4% for the day on the upgrade and positive commentary.

Cloudflare Inc. (NYSE: NET): Guggenheim’s downgrade was from Neutral to Sell with a $50 target price. The consensus target is $63.78. Shares ended Monday trading at $67.79, which was 2% lower on the day.

Curtiss-Wright Corp. (NYSE: CW): Morgan Stanley raised its Equal Weight rating to Overweight and its $188 price target to $229. The consensus target is $206.50. The stock closed almost 3% higher on Monday at $207.50.
Datadog Inc. (NASDAQ: DDOG): Oppenheimer reiterated an Outperform rating. Its $120 price target is higher than the $106.67 consensus target and Monday’s close at $106.30. The stock was down 23% in Tuesday’s premarket after earnings beat expectations but revenue guidance was weak.

DaVita Inc. (NYSE: DAV): UBS upgraded the stock to Buy from Neutral and raised its $100 price target all the way to $142. The consensus target is $104.43. Monday’s $112.68 close was up 3% on the day.

Dish Network Corp. (NASDAQ: DISH): Citing dramatically falling estimates, Zacks selected this stock as its Bear of the Day. Shares have traded as high as $20.35 in the past year but closed most recently at $7.64. That is down more than 45% year to date.

DraftKings Inc. (NASDAQ: DKNG): Wells Fargo’s upgrade to Overweight from Equal Weight included a target price hike to $37 from $28. The consensus target is $31.48. The shares closed at $31.63 on Monday.

EchoStar Corp. (NASDAQ: SATS): Raymond James upgraded the stock from Outperform to Strong Buy with a $28 target price. The consensus target is $24.00. Monday’s close at $23.50 was up over 20% for the day. Note that the company is merging with Dish Network.

Fortinet Inc. (NASDAQ: FTNT): Guggenheim upgraded the stock to Buy from Neutral, but its $70 target price is less than the consensus target of $79.63. On Monday, the shares closed at $57.70.

Holley Inc. (NYSE: HLLY): When Telsey Advisory upgraded the stock to Outperform from Market Perform, its $3 target price jumped to $7.50. The consensus target is $5.90 for now. The stock closed on Monday at $6.74, up over 10% for the day due to the upgrade.

MasTec Inc. (NYSE: MTZ): As Craig Hallum downgraded the shares to Hold from Buy, its target price dropped from $113 to $98. The consensus target is $127. Monday’s $96.14 close was down almost 4% for the day, after the downgrade.

MGM Resorts International (NYSE: MGM): Zacks selected this resort and casino operator as its Bull of the Day stock, citing high travel demand, especially to Las Vegas. Shares last closed at $45.70, and the $56.96 consensus price target would be a multiyear high.

Pentair PLC (NYSE: PNR): Seaport Research Partners started coverage with a Buy rating and an $88 target price. The consensus target is $71.23. The stock closed on Monday at $71.28.

PG&E Corp. (NYSE: PCG): The UBS upgrade to Buy from Neutral included a target price bump to $21 from $19. The consensus target is $19.45. The shares closed almost 3% higher on Monday at $17.42, after the upgrade.
Rocket Companies Inc. (NYSE: RKT): Keefe Bruyette lifted its Underperform rating to Market Perform with an $11.50 target. The consensus target is just $8.58. Monday’s $11.58 close was up almost 4% for the day on the upgrade.

Sage Therapeutics Inc. (NASDAQ: SAGE): Stifel downgraded the stock to Hold from Buy. The analyst also slashed its $60 target price to $22. The consensus target is $61.28 for now. The last trade on Monday was for $16.75 a share. That was a 53% one-day retreat, after the FDA rejected a major depressive disorder treatment on which Sage partnered with Biogen.

Southwest Airlines Co. (NYSE: LUV): Redburn’s downgrade was from Neutral to Sell with a $27 target price. The consensus target is $37.61 for now. The shares closed on Monday at $32.97.

Tanger Factory Outlet Centers Inc. (NYSE: SKT): Compass Point upgraded the stock to Buy from Neutral, and its $21 target price increased to $26. The consensus target is $20.42. The stock closed over 3% higher on Monday at $25.01.

United Airlines Holdings Inc. (NYSE: UAL): Redburn upgraded the stock to Buy from Neutral and has an $80 target price. The consensus target is $71.29 for now. The shares were last seen trading at $53.68, up over 2% on Monday.

Vistagen Therapeutics Inc. (NASDAQ: VTGN): Maxim upgraded the shares from Hold to Buy with a $30 target price. The consensus target is $6 for now. The shares closed on Monday at $13.05, a one-day gain of 675%, as the company produced positive data on its nasal spray.

Wayfair Inc. (NYSE: W): UBS raised its Neutral rating to Buy and its $72 target price to $110. The consensus target is much lower at $77.14. The stock ended Monday trading at $83.26, and the company posted outstanding quarterly results last week.

XPO Inc. (NYSE: XPO): Oppenheimer reiterated an Outperform rating. Its $82 target price compares with a consensus target of $60.77 and Monday’s close at $72.28.

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Seven outstanding stocks make sense for growth and income investors looking to add energy, as they are rated Buy, come with large and dependable dividends and have solid upside to the posted price targets.

Monday’s top analyst upgrades and downgrades included Amazon.com, Amgen, Apple, BioCryst Pharmaceuticals, Block, Coinbase Global, Datadog, Fortinet, Gilead Sciences, Intercontinental Exchange, Moderna, Monster Beverage, Nvidia, PayPal and Petrobras.

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