The futures were mixed on Monday, after a Friday rally that saw some distinct divergence. While both the Dow Jones industrial average and the S&P 500 posted all-time highs again, the Nasdaq closed down. The market cheered the nonfarm payroll numbers that came in ahead of estimates, and Treasury securities were sold off across the yield curve, as many on Wall Street see a beginning to the tapering process of the quantitative easing program. It currently buys $120 billion of Treasury and mortgage debt each month.

Despite worries and the potential for a “taper tantrum” like we saw in 2013, the Federal Reserve is vowing to keep interest rates contained. That could be among the reasons for the continued moves higher in the equity markets even after sell-offs. Also note that money markets continue to see massive inflows, which is another big plus for equities.

With major Wall Street firms still warning of the potential for 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 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 seen on Monday, August 9, 2021.

AAON Inc. (NASDAQ: AAON): D.A. Davison upgraded the stock to Neutral from Underperform and lifted its price target to $60 from $54. The consensus target is $59. The stock closed Friday at $67.25, which was up over 6% on the day, after posting very solid second-quarter results.

Activision Blizzard Inc. (NASDAQ: ATVI): Argus downgraded the video game giant to Hold from Buy. The shares have traded in a 52-week range of $71.19 to $104.53 and have a $166.66 consensus target. The final trade for Friday came in at $82.43.

ADC Therapeutics S.A. (NYSE: ADCT): RBC Capital Markets started coverage with an Outperform rating and a $33 price target. The consensus target is up at $47.75. The stock closed Friday’s session at $25.78, up almost 6% on the day.

Advanced Micro Devices Inc. (NASDAQ: AMD): BMO Capital Markets raised its Underperform rating on the semiconductor giant to Market Perform and also increased the price target to $110. The posted consensus target is $104.79. The last trade for Friday came in at $110.11 a share.

Americold Realty Trust Inc. (NYSE: COLD): Citigroup’s downgrade was to Neutral from Buy. The 52-week trading range is $32.94 to $40.85, and the consensus price objective is $44.38. The stock retreated almost 4% on Friday to close at $37.21.

BellRing Brands Inc. (NASDAQ: BRBR): Evercore ISI raised the shares to Outperform from In line. They have traded in a 52-week range of $17.90 to $33.97 and have a consensus price target of $31.39. The final trade Friday was reported at $29.51, which was down over 8% for the day, despite stellar earnings results and raised 2021 estimates.

Beyond Meat Inc. (NASDAQ: BYND): This is the Zacks Bear of the Day. The analyst points out that the valuation has run far past this “trendy” stock’s intrinsic value. Shares closed most recently at $123.88 apiece and have a consensus price target of $125.77.

Darden Restaurants Inc. (NYSE: DRI): Evercore ISI’s downgrade was to In Line from Outperform. The shares have traded between $78.85 and $150.71 over the past year and have a $161 consensus price target. As the stock closed on Friday at $144.70, this looks like a valuation call.

Dicerna Pharmaceuticals Inc. (NASDAQ: DRNA): Citigroup downgraded its Buy rating to Neutral and has a $32 price target. That compares with the higher $42 consensus target and Fridays’ closing print of $27.25, which was down a massive 28% after disappointing Phase 2 clinical results were reported.

Dollar Tree Inc. (NASDAQ: DLTR): Deutsche Bank downgraded the popular discount retailer to Hold from Buy. The stock has traded between $84.41 and $120.37 over the past year and has a $117.59 consensus target price. The shares were last seen Friday at $98.77.

DraftKings Inc. (NASDAQ: DKNG): Benchmark reiterated its Buy rating on the gambling and gaming giant and raised its price target to $70 from $64. The posted consensus target is $70.41. The final Friday trade hit the tape at $51.59 a share.

Five9 Inc. (NASDAQ: FIVN): The Truist Securities downgrade to Hold from Buy included a target price cut to $212 from $225. The $206.63 consensus target is closer to Friday’s closing print of $201.68.

FTS International Inc. (NYSE: FTSI): Stifel upgraded it to Buy from Hold and has a $32 price target. The consensus target is also $32. The shares were last seen on Friday at $20.63, which was up over 10% after strong earnings were posted.
HP Inc. (NYSE: HPQ): Jefferies resumed coverage on the legacy technology giant with a Hold rating. The shares have traded in a 52-week range of $17.25 to $36 and have a consensus price target of $33.04. The stock closed at $29.32 on Friday.

Maxeon Solar Technologies Ltd. (NASDAQ: MAXN): Morgan Stanley started coverage with an Equal Weight rating and a $17 price target. The consensus target is up at $22.75. The stock ended last week at $15.49.

Teledyne Technologies Inc. (NYSE: TDY): Zacks named this as its Bear of the Day stock. The analyst says that this is an excellent inflation play that provides shareholders with a nice mix of cyclical-value and innovation-driven profitable growth. Shares last closed at $458.18, and the consensus price target is $504.33.

Tesla Inc. (NASDAQ: TSLA): Jefferies upgraded the electric vehicle pioneer’s stock to Buy from Hold and also raised the target price to $850. The consensus target is just $655.12. The stock closed Friday’s trading at $699.10.

Trane Technologies PLC (NYSE: TT): JPMorgan downgraded the stock to Underweight from Neutral and has a $160 price target. The consensus target is $193.25, and the last trade came in at $197 on Friday.

Victoria’s Secret & Co. (NYSE: VSCO): JPMorgan started coverage with an Overweight rating and a $100 price target. No consensus target has yet been set. The last trade for Friday was reported at $57.67 per share. The stock was almost 6% higher in Monday’s premarket.

XPO Logistics Inc. (NYSE: XPO): Cowen reiterated an Outperform rating but dropped its price target on the stock to $106 from $169. The consensus target is $163.70. Friday’s closing share price was $85.55, after a gain of almost 3% for the day.

Three top energy companies are rewarding shareholders in a way that is long overdue, according to Goldman Sachs. With the potential for firm oil pricing into next year, their stocks make sense for investors looking for energy positions that are great long-term holds.

Five outstanding companies are expected to hike their dividends this week, and top Wall Street firms rate all their stocks at Buy.

Friday’s early top analyst upgrades and downgrades included BP, Cloudflare, Expedia, FireEye, Marathon Oil, Moderna, Pinduoduo, Vertex Pharmaceuticals and ViacomCBS. Analyst calls seen later in the day were on Carnival, Duke Energy, Petco Health and more.

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