Stocks were mixed Thursday afternoon after a very rough Wednesday that saw all the major indexes plus the transports take a hit. While the tone of the Federal Reserve’s open market committee statement was somewhat dovish, as they left interest rates unchanged and kept the “transitory” tag on current inflation, they also raised inflation expectations for this year. In addition, the policy statement indicated the Fed might hike interest rates earlier than it had previously expected, penciling in two interest rate hikes in 2023.
24/7 Wall St. is reviewing some big analyst calls seen on Thursday. We have included the latest analyst call on each stock, as well as a recent trading history and the consensus targets among analysts.
In case you missed it, Thursday’s early analyst upgrades and downgrades included Altria, Camping World, Charter Communications, Coca-Cola and more.
American Express Co, (NYSE: AXP | AXP Price Prediction): DZ Bank downgraded shares of the credit card and payments giant to Hold from Buy. The stock has traded in a 52-week range of $89.11 to $167.14 and has a consensus price target of $154.80.
CyrusOne Inc. (NASDAQ: CONE): Cowen downgraded the shares to Market Perform from Outperform and has an $80 price target, almost in line with the $80.50 consensus target. The stock has traded between $61.64 and $86.77 over the past 52 weeks.
Ingersoll Rand Inc. (NYSE: IR): Vertical Research raised the industrial giant’s stock to Buy from Hold, and the analysts have set a $54 price target. The consensus target is $55.57. Over the past 52 weeks, the stock has traded between $26.72 and $52.12 a share.
Honest Co. Inc. (NASDAQ: HNST): Guggenheim downgraded the Jessica-Alba-led stock, which had a recent initial public offering, to Neutral from Buy. Since the deal was priced, the shares have traded between $14.54 and $23.88. There was no consensus price target.
Northern Trust Corp. (NASDAQ: NTRS): Keefe Bruyette downgraded the white glove bank and investment company to Market Perform from Outperform and has a $128 price target. The consensus price target is lower at $116.67. The shares have traded between $72.64 and $123.10 over the past year.
Nvidia Corp. (NASDAQ: NVDA): Jefferies reiterated its long-standing Buy rating on the semiconductor leader while raising the price target to $854 from $740. The shares have traded in a wide 52-week range of $356.00 to $753.40 and have a $721 consensus price objective.
Patterson Companies Inc. (NASDAQ: PDCO): Piper Sandler’s upgrade of the energy company to Overweight from Neutral included a price target hike to $44 from $34. That compares with the consensus price objective of $33.67. The shares have traded in a 52-week range of $18.77 to $37.34.
QuantumScape Corp. (NYSE: QS): Wolfe Research started coverage of the electric vehicle battery maker with a Peer Perform rating and a $25 price target. The consensus target is up at $49, and the shares have traded in a wide 52-week range of $9.74 to $132.73.
Stanley Black & Decker Inc. (NYSE: SWK): Gabelli raised shares the venerable toolmaker to Buy from Hold. Over the past year, the stock has traded between $129.56 and $225.00 a share. The consensus price target is $238.31.
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Goldman Sachs has four top energy ideas on its Conviction List of top stocks to buy, and all offer outstanding growth potential and reasonable entry points, compared to some of the other companies in the sector.
In addition, Wednesday’s wounded meme stocks included AMC Entertainment and BlackBerry. Did Warren Buffett sell Chevron, Synchrony and other stocks too soon? What about GM, Merck, Sirius XM and more?
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