The futures were mixed after a bizarre Monday in which both the S&P 500 and the Nasdaq once again printed new all-time intraday highs before both closed down big, and only the Dow Jones industrials eked out a small gain. The early risk-on surge initially was helped along when President Biden nominated Fed Chair Jay Powell for another term, a move that Wall Street applauded.
In addition, there was some discussion that the supply-chain issues are starting to dissipate and that the American economy could be poised for a very strong fourth quarter. One top economist, Aneta Markowska of Jefferies, estimates that real gross domestic product growth is on track to reaccelerate to about 7% in the fourth quarter. However, worries over interest rates spiking higher soured the mood, and the sellers showed up in the afternoon for stocks and across the Treasury curve.
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 23, 2021.
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AbbVie Inc. (NASDAQ: ABBV | ABBV Price Prediction): Societe Generale upgraded the pharmaceutical leader from Hold to Buy with a gigantic $172 price target. The consensus target is just $128.32. Monday’s final print was reported at $115.65.
Altice USA Inc. (NYSE: ATUS): Loop Capital resumed coverage of the shares with a Hold rating and nudged the $20 target price down to $19. The consensus target is much higher at $28.79. The last trade on Monday came in at $16.94.
Amazon.com Inc. (NASDAQ: AMZN): Guggenheim resumed coverage of the technology leader with a Buy rating and a $4,300 price target. The consensus target is $4,068.37. The last trade on Monday was reported at $3,572.57.
Celanese Corp. (NYSE: CE): KeyBanc Capital Markets downgraded the stock to Sector Weight from Overweight. Shares have traded in a 52-week range of $115.42 to $174.05 and carry a $191.21 consensus price objective. They were last seen on Monday at $166.
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Charter Communications Inc. (NASDAQ: CHTR): Loop Capital resumed coverage of the cable giant with a Hold rating, and it slashed the $815 price objective to $730. The consensus target is $798.89. The stock closed on Monday at $668.32.
Comcast Corp. (NASDAQ: CMCSA): Loop Capital resumed coverage on the cable and broadcasting leader with a Buy rating, but it trimmed the target price to $67 from $71. The $65.49 consensus target is still lower, and Monday’s closing print was $51.51 per share.
Cushman & Wakefield PLC (NYSE: CWK): Raymond James raised the real estate leader to Strong Buy from Outperform and has a $31 price target. That compares with a consensus price objective of $31 and Monday’s last print of $18.76, which was up almost 4% on the day.
Double Verify Inc. (NYSE: DV): Truist Securities raised its Hold rating to Buy with a $38 price target. The consensus target is $40.43. The stock popped almost 4% on Monday to close at $32.74.
Duck Creek Technologies Inc. (NASDAQ: DCT): Barclays upgraded the shares to Overweight from Equal Weight and has a $41 price target. The consensus target is $48.80. The closing share price for Monday was $28.36.
Equifax Inc. (NYSE: EFX): Exane BNP Paribas downgraded the stock to Neutral from Outperform and has a $290 target price. The consensus target is $296.06, and Monday’s closing trade was at $281.17 per share.
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General Electric Co. (NYSE: GE): Jefferies started coverage of the legacy industrial giant with a Hold rating and a $100 price target. The consensus target for the shares is $124.28. The stock closed on Monday at $101.04 a share.
Kimco Realty Corp. (NYSE: KIM): Evercore ISI raised its In Line rating on the real estate giant to Outperform and nudged the price target to $26 from $24. The consensus target is $25.21. The stock closed at $24.14 on Monday.
Micron Technology Inc. (NASDAQ: MU): Mizuho upgraded the shares to Buy from Neutral and boosted the $75 target price to $95. The consensus target is $98.38. The stock closed most recently at $83.86.
Molina Healthcare Inc. (NYSE: MOH): Deutsche Bank resumed coverage with a Hold rating and a $304 price target. The consensus target is $324.29, and Monday’s closing trade hit the taupe at $302.89.
Nvidia Inc. (NASDAQ: NVDA): Zacks has selected this red-hot tech giant as its Bull of the Day. The analyst suggests that investors and analysts have quickly realized that there is no metaverse without Omniverse. Shares last closed at $319.56, and the consensus price target is $331.54.
Salesforce.com Inc. (NYSE: CRM): Atlantic Equities resumed coverage with an Overweight rating and a $360 price target. The consensus price objective is $320.54. Monday’s final trade was reported at $296.84.
Stem Inc. (NYSE: STEM): Wolfe Research began coverage with an Outperform rating and a $35 price target. The consensus price target is higher at $39.25. The stock ended Monday at $22.56 a share.
StoneCo Ltd. (NASDAQ: STNE): This Warren Buffett payments company from Brazil cratered further last week, points out Zacks, which named the fintech stock as its Bear of the Day. Shares closed most recently at $17.01 and still have a consensus price target up at $57.76.
Ventas Inc. (NYSE: VTR): SMBC Nikko downgraded the shares to Neutral from Outperform and has a $55 price target. The consensus price objective is $62.15. The stock was last seen on Monday at $50.31.
Western Digital Corp. (NASDAQ: WDC): Mizuho upgraded the hard disk drive leader to Buy from Neutral and lifted the $55 target price to $75. The consensus target was not available. The shares have traded as high as $78.19 in the past year but ended trading on Monday at $56.93.
Yamana Gold Inc. (NYSE: AUY): BofA Securities raised the stock from Neutral to Buy with a $6 price target. The consensus target is $6.52. The last trade on Monday came in at $4.26.
Zoom Video Communications Inc. (NASDAQ: ZM): Wells Fargo resumed coverage on the stock with an Equal Weight rating and a $275 price target. The consensus target is much higher at $370.43. The shares were last seen Monday at $242.38, which was down almost 4% on the day.
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Five top companies have very strong positions in their respective sectors and are expected to post outstanding sales growth in 2022. The value proposition for investors is that their stocks offer some of the best entry points in some time, which could bode very well for those buying the shares now.
Monday’s early top analyst upgrades and downgrades included Adobe, Anheuser-Busch, Baker Hughes, Chevron, Eli Lilly, Halliburton, Home Depot, Intuit, Microsoft, Robinhood Markets, Shopify, Sirius XM, Southwest Airlines and Walmart. Analyst calls seen later in the day were on Activision Blizzard, BioMarin, eBay, Teladoc and more.
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