The futures were mixed on Tuesday, after another record-breaking day for the Dow Jones industrials, the S&P 500 and the Russell 2000 as they all printed fresh all-time highs. Risk-on money continues to pour into the markets, and corporate stock buybacks are gaining momentum as blackout periods end. After a very positive nonfarm payrolls report last Friday all eyes will be on Tuesday’s Producer Price Index report and the Consumer Price Index report scheduled for Wednesday.

Despite the continued market strength, top strategists across Wall Street remain focused on the potential for rising interest rates, the aforementioned quantitative easing tapering, big increases in energy costs and, while perhaps easing some, the ongoing supply chain issues and stagflation worries. Toss in the debt ceiling issue that will return in December and the ongoing China worries, 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 Tuesday, November 9, 2021.

Airbnb Inc. (NASDAQ: ABNB): Piper Sandler reiterated its Overweight rating and lifted the $175 target price for the online vacation rental giant to $215. Citigroup stuck with a Neutral rating but also lifted the price objective, to $215 from $152. The consensus target is $186.97, but the closing trade for Monday came in at $200.32 a share.

Appian Corp. (NASDAQ: APPN): Truist Securities upgraded the stock to Buy from Hold and lifted the target price to $116 from $105. The consensus target is $106.57. The last trade on Monday came in at $98.11, which was up over 8% on the day.

Canopy Growth Corp. (NASDAQ: CGC): Cowen downgraded the pot stock to Underperform from Market Perform. Over the past 52 weeks, shares have traded in a wide range of $11.31 to $56.50, and they have a $21.60 consensus price target. The final Monday trade came in at $12.98, up over 10% on chatter of a Republican-backed marijuana legalization bill.

Churchill Downs Inc. (NASDAQ: CHDN): The historic horse racing icon is poised to post strong growth as the in-person economy returns, according to Zacks, which named this as its Bull of the Day stock. The shares last closed at $238.10, and the consensus price target is $280.43, which would be a 52-week high.

Continental Resources Inc. (NYSE: CLR): Citigroup resumed coverage of the energy giant with a Buy rating and a $54 price target. The consensus target is $50.37, and Monday’s closing print was $48.32, after almost an almost 5% gain on the day. The company is working on a big expansion in the Permian Basin.

Discovery Inc. (NASDAQ: DISCA): Macquarie raised its Neutral rating to Outperform. Over the past 52 weeks, the shares have traded between $21.57 and $78.14. The consensus price target is $37.58. Monday’s closing share price was $26.28.

DraftKings Inc. (NASDAQ: DKNG): Oppenheimer reiterated a Buy rating on the online gambling giant but cut $80 the price target to $70. The consensus target is $68.06, and Monday’s last trade was reported at $44.78.

D.R. Horton Inc. (NYSE: DHI): BofA Securities resumed coverage of the popular homebuilder with a Buy rating and a $112 price target. The consensus target is $110.94. Monday’s final trade was posted at $92.72.

Fisker Inc. (NYSE: FSR): Credit Suisse started coverage of the electric vehicle company’s stock with an Outperform rating and a $32 price target. The consensus target is just $22.20. The last trade for Monday was at $19.08 a share.

Five9 Inc. (NASDAQ: FIVN): Truist Securities raised its Hold rating to Buy from and lifted the $190 price target to $210. The consensus target is $200.68. The close on Monday was at $145.25 per share.

J.M. Smucker Co. (NYSE: SJM): Guggenheim’s upgrade to Buy from Neutral included a target price hike to $146 from $136. The consensus target is $124.64. The last trade for Monday was posted at $125.08.

Johnson Controls International PLC (NYSE: JCI): Barclays reiterated its Overweight rating while bumping the target price to $85 from $82. Shares have not traded in that range for about two decades. The stock closed on Monday at $74.47 a share.
Lucid Diagnostics Inc. (NASDAQ: LUCD): Needham started coverage with a Buy rating and a $17 price target, while BTIG Research started coverage with a Buy and a $14 target. No consensus target has been posted as the company had a recent initial public offering. Since then, shares have traded between $8.91 and $13.52. Monday’s last trade came in at $10.15, which was up over 6% for the day.

Lumber Liquidators Holdings Inc. (NYSE: LL): Zacks selected this as its Bear of the Day. The analyst pointed out that its shares have tumbled over 40% this year even as its industry climbed 36%. The stock closed most recently at $17.76 and has a consensus $19.00 price target.

Moderna Inc. (NASDAQ: MRNA): Wolfe Research started coverage of the vaccine giant with an Outperform rating and a $304 price target. The consensus target is $304.92. The stock rose almost 4% on Monday to close at $244.68.

Mohawk Industries Inc. (NYSE: MHK): BofA Securities resumed coverage on the carpet and floor covering leader with an Underperform rating and a $174 target price. The consensus price objective is up at $217.31, and the stock closed on Monday at $175.91.

Nektar Therapeutics (NASDAQ: NKTR): Benchmark raised its Hold rating to Buy and has a $20 price target. The consensus target is up at $28.67. The last trade Monday came in at $14.65, after almost a 9% gain on the day.

Owens Corning Inc. (NYSE: OC): BofA Securities resumed coverage with a Buy rating and a $115 price target. The consensus target is $115.87. The stock closed at $96.66 on Monday.

SunPower Corp. (NASDAQ: SPWR): CFRA slashed the stock from Buy to Sell with a $26 price target. The $27.31 consensus price target is also less than Monday’s closing print of $32.27.

Wayfair Inc. (NYSE: W): Citigroup reiterated a Sell rating on the stock and cut the target price to $200 from $225. The posted consensus target is $296.21, and the stock closed on Monday at $244.20.

These five top industrial companies all pay dependable dividends and look to be involved heavily when the new infrastructure funds are deployed. They look like solid ideas for growth investors looking to cash in on what could be a very profitable scenario.

Monday’s meme stock movers included Coinbase and Tilray. And is General Electric becoming a meme stock (or three)?

Monday’s early top analyst upgrades and downgrades included Cinemark, Datadog, EOG Resources, Kellogg, Krispy Kreme, McAfee, Peloton Interactive, PulteGroup and Realty Income. Analyst calls seen later in the day were on Canopy Growth, Pioneer Natural Resources, Shake Shack, Tesla, Toll Brothers, VMWare and more.

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