The futures were lower Wednesday, after stunning inflation data gave the risk-on troops a dose of reality on what is becoming a very alarming situation. All the major indexes closed lower, while investors fled to Treasury bonds as yields plummeted across the curve. Tuesday, the Labor Department’s Producer Price Index, which measures wholesale prices, rose 0.6% in October, translating into an 8.6% increase year over year, the highest annual pace in records going back nearly 11 years.

With the S&P 500 posting a record close on Monday for the eighth straight session, which marked the best run for the index since 1997, it seems more and more likely that something has to give, and all eyes today will be on the release of the Consumer Price Index data, which could be a flashpoint.

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, November 10, 2021.

ADC Therapeutics S.A. (NYSE: ADCT): Wolfe Research started coverage on the stock with an Outperform rating and a $44 price target. The Wall Street consensus target is $43.67. The final trade for Tuesday came in at $29.04.

Allstate Corp. (NYSE: ALL): Barclays downgraded the insurance giant to Equal Weight from Overweight and has a $123 price target. The consensus target is up at $140.67. The shares closed on Tuesday at $115.19.

Ally Financial Inc. (NYSE: ALLY): Citigroup resumed coverage with a Buy rating and a $65 price target. The consensus target is $67.37. The stock closed at $49.08 on Tuesday.

Asure Software Inc. (NASDAQ: ASUR): Cowen resumed coverage with an Outperform rating and raised the $11 price target on the shares to $12. The consensus target is a stunning $30.93. The last trade for Tuesday came in at $9.53.

Booking Holdings Inc. (NASDAQ: BKNG): Argus raised its Hold rating on the online travel booking giant to Buy with a $3,060 price target. The consensus target is just $2,700.79. The shares were last seen on Tuesday trading at $2,648.20.

First Bancorp Inc. (NYSE: FBP): Wells Fargo started coverage with an Overweight rating and a $16 price target. The consensus target is much higher at $27.17. Tuesday’s final trade was reported at $14.14.

Five9 Inc. (NASDAQ: FIVN): UBS upgraded the stock to Buy from Hold. Over the past year, the shares have traded in a wide range between $130.22 and $211.68, and they have a $200.68 consensus target. The stock closed on Tuesday at $166.27, which was up almost 15% on the day as earnings for the quarter crushed expectations.

General Electric Co. (NYSE: GE): Deutsche Bank raised its Hold rating on the venerable industrial giant to Buy from and lifted the target price up to $131 from $119. The consensus target is $119.76. The final trade for Tuesday was reported at $111.29, after an almost 3% gain for the day.

Globalfoundries Inc. (NASDAQ: GFS): Susquehanna started coverage with a Positive rating and an $85 price target. No consensus was available as the stock had a recent initial public offering. So far, the stock has traded between $44.48 and $66.00 a share. The last trade for Tuesday was posted at $59.83.

Gossamer Bio Inc. (NASDAQ: GOSS): Cantor Fitzgerald resumed coverage with an Overweight rating and a $20 price target. That compares with the $19.50 consensus target and Tuesday’s $13.10 final print.

Host Hotels & Resorts Inc. (NASDAQ: HST): Compass Point upgraded the stock from Hold to Buy with a $22 price target. The consensus target is $18.83. The shares closed on Tuesday at $18.33.

KE Holdings Inc. (NYSE: BEKE): JPMorgan’s upgrade to Overweight from Neutral included a price target hike to $30 from $21. The consensus target is $28.88, and the shares closed on Tuesday at $19.78, after over a 10% gain for the day despite mixed quarterly results.

Nucor Corp. (NYSE: NUE): Though Citigroup downgraded the steel giant to Neutral from Buy, it also raised the $105 price objective to $120. The consensus target is $108.82. The final trade for Tuesday was reported at $113.40.

PayPal Inc. (NASDAQ: PYPL): While Deutsche Bank reiterated its Buy rating on the stock, the firm also slashed the target price to $260 from $360. As many as 12 more firms across Wall Street followed suit, keeping Buy or Overweight ratings but seriously lowering price targets. The company posted results that were very disappointing, fiscal 2021 guidance was unexpectedly lowered and the preliminary 2022 outlook was well below what most analysts had modeled. The consensus price target is $323.91 for now but sure to fall. The closing print for Tuesday was an ugly $205.42, down almost 11% for the day.
Popular Inc. (NASDAQ: BPOP): Wells Fargo started coverage with an Overweight rating and a $115 price target. The consensus target is just $85.75. Tuesday’s closing share price was $82.93.

Sanmina Inc. (NASDAQ: SANM): BofA Securities downgraded the shares to Underperform from Neutral and cut the target price to $38 from $46. The consensus target is $50.67. The last trade for Tuesday hit the tape at $39.64, but that was down almost 8% for the day after the company posted disappointing results.

Smart Global Holdings Inc. (NASDAQ: SGH): Zacks has named this as its Bull of the Day stock, suggesting this is the under-the-radar semiconductor stock investors have been looking for, with its broadening portfolio of cutting-edge chips that are poised to take flight in this commencing technological renaissance. The shares last closed at $59.21, and the consensus price target is $72.00, which would be an all-time high.

TE Connectivity Ltd. (NYSE: TEL): Wolfe Research’s upgrade to Outperform from Peer Perform included a price target hike to $190 from $148. The stock hit a 52-week high of $161.55 on Tuesday.

Trade Desk Inc. (NASDAQ: TTD): Wells Fargo reiterated an Overweight rating on the shares and boosted the price target to $120 from $115. Truist Securities maintained a Buy rating and lifted the $92 price objective to $100. That was the theme with other Wall Street firms, after the company posted stellar results. The consensus target of $87.53 is sure to go higher. The stock popped almost 10% on Tuesday to close at $97.09.

Zillow Group Inc. (NASDAQ: ZG): Zacks selected this as its Bear of the Day, pointing out that the company overextended itself in the iBuying space and now is paying the price. Shares last closed at $66.62 and so far have a consensus target of $91.06.

With an overbought and overpriced stock market, rising inflation could trigger a lightning-fast sell-off. Five Buy-rated, dividend-paying stocks that can fight through inflation may be good areas for investors to move to now.

Tuesday’s early top analyst upgrades and downgrades included Airbnb, Canopy Growth, Continental Resources, DraftKings, Fisker, Moderna, Owens Corning, SunPower and Wayfair. Analyst calls seen later in the day were on Livent, Royal Dutch Shell, SmileDirectClub, Tencent Music and more.

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