The futures were mixed Wednesday, after yet another record-setting session Tuesday in which both the Dow Jones industrials and the S&P 500 once again printed record all-time highs. While the very strong third-quarter earnings are being cited as a big reason (both Microsoft and Alphabet posted solid results after the close), many attribute the continued surge higher in what is being labeled as FOMO, or fear of missing out. Despite the sky-high valuations in many companies, investors continue to put money into the market, feeling it could continue to melt-up even higher. Going into what is seasonably a good period, they may be right.

That said, top strategists across Wall Street remain focused on continued rising interest rates, the quantitative easing tapering due to begin next month, big increases in energy costs, ongoing supply chain issues and stagflation worries. Toss in the debt ceiling issue (which is on hold for now but will return in December) and the ongoing China worries, and the cauldron continues to simmer.

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 Wednesday, October 27, 2021.

Abbott Laboratories (NYSE: ABT): Atlantic Equities upgraded shares of the pharmaceutical giant to Overweight from Neutral and have a $144 price target. The Wall Street consensus target is $137.05. The shares closed on Tuesday at $128.13.

Alphabet Inc. (NASDAQ: GOOGL): Goldman Sachs reiterated a Buy rating after the technology giant reported earnings that beat estimates but were not out of the park. The analyst’s $3,350 price target compares with the $3,183 consensus and Tuesday’s closing print of $2,786.17. The shares were lower in premarket trading.

AppLovin Corp. (NASDAQ: APP): BTIG Research began coverage with a Buy rating and a $114 price target. The consensus target is $94.78, and Tuesday’s closing print was $94.01 per share.

Bally’s Corp. (NASDAQ: BALY): Goldman Sachs started coverage with a Neutral rating and a $52 price target. The consensus price objective is $71.71. The final trade for Tuesday was reported at $52.01.

Cloudflare Inc. (NYSE: NET): Though Jefferies downgraded the security software stock to Hold from Buy, it also raised the target price to $195 from $135. The consensus target is $135.31. The stock closed Tuesday at $185.36, which was down over 4%. The selling returned in the premarket, when it was down an additional 4%.

DraftKings Inc. (NASDAQ: DKNG): BTIG Research started coverage on the popular online gambling site with a Neutral rating. The stock has traded in a 52-week range of $34.90 to $74.38 and has a $69.89 consensus price objective. The shares were last seen on Tuesday at $48.75, after a gain of over 4% for the day.

Ecolab Inc. (NYSE: ECL): JPMorgan’s downgrade was from Neutral to Underweight with a $230 price target. The consensus target is $233.06. The stock rose almost 4% on Tuesday to close at $230.28. As it is trading right at a 52-week high after a strong move, this looks like a valuation call.

FuboTV Inc. (NYSE: FUBO): BTIG Research started coverage with a Neutral rating. The shares have traded in a wide range over the past 52 weeks of $12.40 to $62.29 a share. The final trade for Tuesday was reported at $29.27.

Kite Realty Group Trust (NYSE: KRG): Jefferies started coverage with a Buy rating and a $26 price target. That compares with a consensus target of $24.50 and Tuesday’s closing print of $21.22.

Make My Trip Ltd. (NASDAQ: MMYT): Goldman Sachs reiterated a Buy rating on the shares and bumped the target price to $42 from $41. The consensus target is just $34. The shares closed on Tuesday at $28.52, which was up almost 4% on the day.

Medical Properties Trust Inc. (NYSE: MPW): BofA Securities upgraded the stock to Buy from Neutral and raised the price target to $24.00 from $21.50. The consensus target is $23.65. The last trade for Tuesday was reported at $20.76.

Olin Corp. (NYSE: OLN): This chemicals company was named as the Bull of the Day at Zacks, which pointed out that inflation is great for companies like this one. Shares most recently closed at $58.06 and have a consensus price target of $70.56, which would be an all-time high.
Playtika Holding Corp. (NASDAQ: PLTK): BTIG Research started coverage with a Buy rating and a $35 price objective. The consensus target is up at $39.22. The stock closed Tuesday at $28.28.

Redbox Entertainment Inc. (NASDAQ: RDBX): B. Riley Securities started coverage of the popular self-serve video company with a Buy rating and a $35 price target. The stock was last seen on Tuesday trading at $15.84, after a stunning 33% gain for the day. The stock followed through in the premarket with another 14% rise.

Safehold Inc. (NYSE: SAFE): Goldman Sachs kept a Buy rating with a $113 price target after the company posted strong third-quarter results. The consensus target is just $96.13. Thursday’s closing share price was $73.62.

SmartRent Inc. (NYSE: SMRT): Goldman Sachs began coverage with a Buy rating and an $18 price target. The consensus target is $14. The stock closed at $12.02 on Tuesday and was up over 3% in Wednesday’s premarket.

Toro Co. (NYSE: TTC): BofA Securities downgraded the shares to Underperform from Neutral and slashed the target price to $85 from $118. The consensus target is $118. The shares closed on Tuesday at $99.63. The stock was down almost 5% in premarket action on virtually no news.

United Parcel Service Inc. (NYSE: UPS): Goldman Sachs raised forward estimates and reiterated its Buy rating on the shares after the delivery giant posted solid third-quarter numbers. The firm’s $237 price target rose to $247. The lower $219.52 consensus target is closer to Tuesday’s closing price of $218.07 a share.

Zynga Inc. (NASDAQ: ZNGA): BTIG Research began coverage of the mobile video game company with a Buy rating and a $10 price target. The consensus target is up at $11.51. The stock closed on Tuesday at $7.37.

Five top stocks have among the highest median returns during periods of stagflation. They are very good ideas for nervous investors, as they should be able to ride out periods of volatility and the inevitable large sell-off.

Cathie Wood’s ARK Invest is still shedding Tesla stock, and Russia turns up the heat on Apple.

Tuesday’s top analyst upgrades and downgrades included Beyond Meat, Coinbase, Coty, Facebook, IBM, Intel, Kimberly-Clark, Pioneer Natural Resources, Winnebago and Zynga.

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