Going into the Fourth of July weekend, a lot of analysts are kicking back and checking out early, so the calls for the morning were few and far between. Friday’s futures were edging positive ahead of the June unemployment report. Estimates are calling for an acceleration in hiring, with nonfarm payrolls expected to rise by 720,000 for a sixth straight monthly gain. The unemployment rate is expected to fall to 5.6%, which would be a pandemic-era low. How stocks will respond to this report, or how the Federal Reserve will respond, is yet to be seen.

Wall Street is concerned about tapering of the quantitative easing program, but despite a clear building of inflationary pressures, the Federal Reserve is vowing to keep interest rates contained. That could be one reason for the continued moves higher in the equity markets, even after sell-offs. Another big plus is the continued massive inflows into money markets.

With major Wall Street firms still warning of the potential for an impending 5% to 10% correction across the board, it makes sense for investors to continue building some cash reserves into the market strength while repositioning portfolios for the coming quarter and the rest of 2021.

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 for Friday, July 2, 2021.

Arcos Dorados Holdings Inc. (NYSE: ARCO): JPMorgan resumed coverage with an Overweight rating and an $8.50 price target. Shares last closed near $6 apiece, and the consensus price target is $6.55 a share.

Arcturus Therapeutics Holdings Inc. (NASDAQ: ARCT): Cantor Fitzgerald initiated coverage with an Overweight rating and a $71 price target. The stock closed near $36 per share. The 52-week trading range is $24.87 to $129.71.

Bloom Energy Corp. (NYSE: BE): Zacks has named this fuel cell producer as its Bear of the Day stock. The analyst suggests that investors should take profits after a large bounce in this alternate energy play. Shares last closed at $26.62, and the consensus price target is $32.40.

BRP Inc. (NASDAQ: DOOO): Raymond James started coverage with a Strong Buy rating. The stock last traded near $78, in a 52-week range of $40.03 to $96.44.

Camping World Holdings Inc. (NYSE: CWH): Raymond James started coverage with an Outperform rating and a $45 price target. Shares last closed at $41 and have a consensus price target of $56.43.

ContextLogic (NASDAQ: WISH): Evercore ISI downgraded the stock to In Line from Outperform and cut the price target to $13 from $17. The stock most recently closed at about $12 a share, but it has a consensus price target of $18.00.

Harrow Health Inc. (NASDAQ: HROW): Ladenburg Thalmann initiated coverage with a Buy rating and a $14.25 price target. The stock closed near $9, in a 52-week range of $4.65 to $11.24.

HealthEquity Inc. (NASDAQ: HQY): Stephens initiated coverage at Overweight and with a $100 price target. The stock closed near $81, in a 52-week range of $45.82 to $93.32. Analysts have a consensus price target of $88.11.

Keysight Technologies Inc. (NYSE: KEYS): The Barclays downgrade to Equal Weight from Overweight came with a $162 price target. The stock most recently closed near $153, and it has a consensus price target of $161.86.

National Storage Affiliates Trust (NYSE: NSA): Robert Baird resumed coverage with an Outperform rating and a $54 price target. Shares last closed near $50, but the consensus price target is at $52.40.

PNC Financial Services Group Inc. (NYSE: PNC): Wolfe Research raised its Underperform rating to Outperform and hiked the price target to $252 from $194. The shares closed most recently near $192 apiece, and the consensus price target is $197.72.

Renalytix PLC (NASDAQ: RNLX): Berenberg initiated coverage with a Buy rating and a $38 price target. Shares closed at $30 or so, and the 52-week range is $90.91 to $35.71.

Thor Industries Inc. (NYSE: THO): Raymond James initiated coverage with an Underperform rating. Shares closed near $116 and have a consensus price target of $142.22.

UWM Holdings Corp. (NYSE: UWMC): Keefe Bruyette initiated coverage with a Market Perform rating and an $8.50 price target. Shares closed near $8 apiece, in a 52-week range of $6.25 to $14.38. The consensus price target is $9.25.

Welbilt Inc. (NYSE: WBT): C.L. King downgraded the stock to a Neutral rating from Buy. It has a 52-week trading range of $5.21 to $25.19 and recently closed near $23 a share.

Winnebago Industries Inc. (NYSE: WGO): Raymond James started coverage with a Market Perform rating. Shares last closed at about $70, and the 52-week range is $44.33 to $87.53.

Five All-American companies should have solid holiday weekend sales and are poised to be solid investments for the second half of 2021. Furthermore, these top Fourth of July stock picks are all rated Buy at BofA Securities.

Given a very willing consumer base of buyers for the vehicles that run on electricity, the prospects for the companies involved in the charging station growth are very bright. Eight stocks offer investors various angles on playing the massive potential of this infrastructure growth.

Thursday’s early top analyst upgrades and downgrades included AutoNation, Enbridge, Gap, JinkoSolar, Micron Technology, Nvidia, Tractor Supply, Twilio and Vertex Pharmaceuticals. Analyst calls seen later in the day were on Celanese, First Hawaiian, Peloton International, Qorvo and more.

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