The futures were mixed Tuesday, after a brutal Monday risk-off session to start the week. While all the major indexes closed off of the lows, with the Nasdaq actually scratching out a gain, the song remains the same as rising interest rates, along with a continued surge in COVID-19 cases, have been the driving forces behind the pullback. Goldman Sachs was reported as saying that we could see as many as four interest rate increases this year, with the first one as early as March.
Many on Wall Street are continuing to focus on the big increases in energy and food costs and other spiraling inflation issues. While most strategists and economists are divided on when the current inflation surge will ease, the ongoing supply chain concerns and stagflation worries remain front and center, and they will until the price increases start to decline.
Traders and investors will be focused on the December consumer price index reading scheduled for Wednesday, and many Wall Street professionals also will be looking for Friday’s retail sales report. In addition, fourth-quarter earnings kick off this week as the big banks will be out with what are expected to be strong results starting on Friday.
24/7 Wall St. reviews dozens of analyst research reports each day of the week with a goal of finding fresh 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.
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These are the top analyst upgrades, downgrades and initiations seen on Tuesday, January 11, 2022.
Advanced Micro Devices Inc. (NASDAQ: AMD | AMD Price Prediction): KeyBanc Capital Markets upgraded the semiconductor powerhouse from Sector Weight to Overweight with a $155 target price. The consensus target is $142.50. The last trade on Monday saw the stock at $132.00 a share.
Ambarella Inc. (NASDAQ: AMBA): BofA Securities reiterated its Underperform rating on the stock, despite raising the price target to $140 from $119. The consensus price target is much higher $221.44. The final trade on Monday came in at $154.47.
Brixmor Property Group Inc. (NYSE: BRX): Jefferies upgraded the stock to Buy from Hold and boosted the target price to $29 from $25. The consensus target is $26.78. The stock closed trading on Monday at $26.01.
Clean Harbors Inc. (NYSE: CLH): Raymond James upgraded the stock to Strong Buy from Outperform and lifted the $120 target price to $125. The consensus target is $120. The closing share price on Monday was $99.50.
Core & Main Inc. (NYSE: CNM): RBC Capital Markets raised its Sector Perform rating to Outperform with a $33 price target. The consensus price objective is $33.75, and Monday’s last trade of the day was reported at $25.75.
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Entergy Corp. (NYSE: ETR): Vertical Research downgraded the giant utility stock to Hold from Buy and has a $117 price target. The consensus target is in line at $117.86. Monday’s closing trade was at $111.70 a share.
Equinix Inc. (NASDAQ: EQIX): Jefferies downgraded the stock to Hold from Buy and slashed the $970 price target to $840. That compares with an $889.65 consensus target and Monday’s close at $764.33.
Generac Holdings Inc. (NYSE: GNRC): UBS upgraded the stock to Buy from Hold but trimmed its target price to $480 from $500. The higher consensus target is $514.11, and Monday’s closing price was $323.73 per share.
General Electric Co. (NYSE: GE): Bernstein started coverage of the venerable industrial giant with an Outperform rating and a $120 price target. The consensus target is $121.24. The stock closed at $99.42 on Monday.
Infosys Ltd. (NYSE: INFY): Susquehanna upgraded the stock to Positive from Neutral and lifted the target price to $29 from $22. The consensus target is $24.75. The shares were last seen Monday at $24.77.
Intel Corp. (NASDAQ: INTC): BofA Securities reiterated its Underperform rating on the legacy chip giant, while raising the target price by five bucks to $55. The consensus target is $55.02. The last trade Monday was spotted at $55.21, which was up well over 3% for the day.
Juniper Networks Inc. (NYSE: JNPR): BofA Securities upgraded the stock to Buy from Hold and boosted the price target from $22 all the way to $40. The consensus target is $29.94. The stock closed on Monday at $34.51, but the shares were up almost 5% in Tuesday’s premarket.
KB Home (NYSE: KBH): Though RBC Capital Markets upgraded the shares to Outperform from Sector Perform, the firm cut the $50 target price to $46. The consensus target is $53.08. The shares closed Monday at $41.09, which was up over 3% for the day.
Kimco Realty Inc. (NYSE: KIM): Jefferies upgraded the stock to Buy from Hold and lifted the target price to $29 from $24. The consensus target is $26.14. The last trade Monday was reported at $25.13 per share.
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Kinder Morgan Inc. (NYSE: KMI): Wolfe Research raised the shares to Peer Perform from Underperform and nudged the price target to $17 from $16. The consensus target for the energy giant is $18.89, and the final trade for Monday was filled at $17.43.
Lam Research Corp. (NASDAQ: LRCX): BofA Securities maintained a Buy rating on the semiconductor capital equipment colossus and raised the target price to $785 from $675. The consensus target is $731.48. The final trade for Monday was at $664.29 a share.
Northrop Grumman Corp. (NYSE: NOC): Wells Fargo’s upgrade of the aerospace and defense giant was to Equal Weight from Underweight. The stock has traded in a 52-week range of $282.88 to $408.03, and it has a $399.35 consensus target. The stock closed at $402.23 on Monday.
PayPal Holdings Inc. (NASDAQ: PYPL): Exane BNP Paribas downgraded the popular money transfer and payment heavyweight to Neutral from Outperform and has a $200 target price. The consensus target is much higher at $270.87. The last trade Monday was recorded at $182.95.
Shopify Inc. (NYSE: SHOP): Atlantic Equities downgraded the shares to Neutral from Overweight. The stock has traded in a stunning 52-week range of $1,005.14 to $1,762.92, and it has a $2,082.95 consensus price target. The last trade on Monday was reported at $1,131.17 a share.
Target Corp. (NYSE: TGT): Zacks has selected this popular retailer as its Bull of the Day. The analyst makes a case that the stock is currently sitting at enticing levels for those with longer-term horizons, especially considering its solid fundamentals. Shares last closed at $ 227.42, and the consensus price target is $284.03, which would be an all-time high.
Thoughtworks Holding Inc. (NASDAQ: TWKS): Goldman Sachs raised its Neutral rating to Buy but trimmed the price target to $32 from $34. The consensus target is $34.18. The stock ended trading Monday at $24.79, which was up almost 3% for the day.
Toll Brothers Inc. (NYSE: TOL): RBC Capital Markets cut the high-end luxury homebuilder to Sector Perform from Outperform and sliced the price target to $70 from $75. The consensus target is $65.46, and shares were last seen trading at $65.46.
Wynn Resorts Ltd. (NASDAQ: WYNN): Citigroup downgraded the luxury casino and resort stock to Neutral from Buy and trimmed the $99 price objective to $92.50. The consensus target is $102, and the stock closed Monday at $82.17.
ViacomCBS Inc. (NASDAQ: VIAC): Deutsche Bank upgraded shares of the programming and broadcasting giant to Buy from Hold. The firm also raised its price objective to $43 from $39. The consensus target is $46.63, and Monday’s closing print was $34.91.
Visa Inc. (NYSE: V): Exane BNP Paribas downgraded shares of the credit card leader from Outperform to Neutral with a $210 target price. The consensus target is up at $273.07. The closing share price on Monday was $211.97.
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In a significant market correction, all stocks may trend lower, but five dividend-paying sin stocks will continue to see strong product demand and should hold up much better than momentum stocks.
BofA Securities sees oil industry stocks as undervalued and has eight top picks and five to avoid.
Monday’s early top analyst upgrades and downgrades included Airbnb, AT&T, Duke Energy, Etsy, FirstEnergy, Gap, IBM, KeyCorp, Kohl’s, Las Vegas Sands, Nvidia, Starbucks, Trade Desk and Visa. Analyst calls seen later in the day were on Accenture, Dell Technologies, Expedia, Hilton Worldwide, Marathon Oil, Medtronic, Micron Technology, Nike, Unity Software, Zscaler and more.
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