The futures were trading lower Wednesday after a massive risk-on Tuesday rally in which the major indexes and the transports posted solid gains. The rally started before the open, when news reports had Russia pulling troops back from the Ukraine border. However, according to broadcast reports, there are still over 100,000 troops conducting military exercises and drills at the border, so caution is still the word from the U.S. State Department.
The big selling on Tuesday was concentrated in the Treasury markets and in the oil complex. Yields were up across the curve, as the sellers responded to another staggering inflation metric as the producer price index report came in 1% higher in January and 9.7% over the past year, which is just off a record high. Both Brent and West Texas Intermediate closed down well over 3%, after big moves Monday on the news out of Ukraine.
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.
These are the top analyst upgrades, downgrades and initiations seen on Wednesday, February 16, 2022.
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AGCO Corp. (NASDAQ: AGCO | AGCO Price Prediction): Zacks named this stock as its Bull of the Day. The analyst said that supply chain issues appear to be manageable for this machinery manufacturer. Shares most recently closed at $133.27 and have a consensus price target of $156.85.
Arista Networks Inc. (NYSE: ANET): Loop Capital reiterated a Buy rating and raised the price target to $170 from $157. Cowen kept an Outperform rating and lifted the price objective to $151 from $134. Citigroup checked in with a Buy rating and boosted the price target to $160 from $150, while UBS stayed with a Neutral rating and moved its $133 target price to $140. The consensus target is $141.56. The stock was last seen Tuesday at $129.94, up close to 6% after the company crushed earnings expectations and dealt out some very positive guidance.
American Airlines Group Inc. (NASDAQ: AAL): Wolfe Research resumed coverage of the legacy carrier’s stock with an Outperform rating. The 52-week trading range is $14.91 to $26.09, and the shares have a consensus target of $18.33 and closed Tuesday at $18.84, up over 8% on the day.
BGC Partners Inc. (NASDAQ: BGCP): Credit Suisse started coverage with an Outperform rating and a $7 price target. The shares ended Tuesday at $4.61, up almost 8% for the day.
Boeing Co. (NYSE: BA): Wolfe Research resumed coverage of the aerospace and defense giant with a Peer Perform rating. The stock has traded in a 52-week range of $183.77 to $278.56. The stock was last seen Tuesday trading at $217.73.
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Comerica Inc. (NYSE: CMA): Compass Point raised the bank to Buy from Neutral and lifted the target price to $115 from $105. The consensus target is $104.97. The final trade on Tuesday was reported at $100.17.
Delta Air Lines Inc. (NYSE: DAL): Wolfe Research resumed coverage with an Outperform rating and a $50 target price. That compares with the slightly higher $51.72 consensus target and Tuesday’s last print of $44.49, which was up 6% on the day.
General Electric Co. (NYSE: GE): Some investors are seeing the light, but it might be too early for GE, says Zacks, which selected it as its Bear of the Day. Shares have traded as high as $116.17 in the past year but last closed at $100.92, which is up almost 7% year to date.
IAMGOLD Corp. (NYSE: IAG): BMO Capital Markets upgraded the stock to Outperform from Market Perform and lifted the target price to $3.25 from $2.75. The consensus target is $3.02. The stock closed on Tuesday at $2.97.
Intercontinental Exchange Inc (NYSE: ICE): Credit Suisse started coverage with an Outperform rating and a $160 price target. The consensus target is $155.60, and Tuesday’s closing print was $125.22.
Kura Oncology Inc. (NASDAQ: KURA): Jefferies started coverage with a Buy rating and a $35 price target. The consensus target is $38.14. The shares closed Tuesday at $14.20, up almost 12% for the day.
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Masimo Inc. (NASDAQ: MASI): Piper Sandler’s downgrade to Neutral from Overweight included a price target cut to $200 from $330. The consensus target is $324.33. The stock closed Tuesday at $228.84. It was down almost 18% in the premarket action despite posting solid results.
NiSource Inc. (NYSE: NI): Though UBS downgraded the stock to Neutral from Buy, it raised the target price to $31 from $29. The consensus target is $30.30. The last trade for Tuesday came in at $28.26.
Pinduoduo Inc. (NASDAQ: PDD): Citigroup raised its Neutral rating to Buy with an $80 price target. The consensus target is up at $102.71. The stock closed trading on Tuesday at $61.23.
PROS Holdings Inc. (NYSE: PRO): Stifel resumed coverage with a Buy rating and a $48 price target. The consensus target is $48.33. Tuesday’s closing share price was $32.32, up almost 10% after revenue topped estimates.
SmartRent Inc. (NASDAQ: SMRT): Morgan Stanley started coverage with an Equal Weight rating and a $7 price target. The consensus target is up at $13.58. The stock closed on Tuesday at $8.95.
Southwest Airlines Co. (NYSE: LUV): Wolfe Research resumed coverage of the popular low-cost carrier with a Peer Perform rating. Over the past 52 weeks, the stock has traded between $38.66 and $64.75, and it has a $54.14 consensus price objective. The last trade on Tuesday hit the tape at $47.30, which was over 4% higher for the day.
Suncor Energy Inc. (NYSE: SU): RBC Capital Markets downgraded the stock to Sector Perform from Outperform. Over the past 52 weeks, the stock has traded between $17.10 and $30.51. The consensus price objective is $34.74. Tuesday’s last trade was reported at $29.26.
3M Co. (NYSE: MMM): Barclays reiterated an Underweight rating and trimmed the price target to $170 from $178. Citigroup kept a Neutral rating and cut its target price to $175 from $190. Deutsche Bank maintained a Hold rating and trimmed the $189 target price to $182, while Wells Fargo reiterated an Equal Weight rating and cut the $184 target price to $173. The consensus target is $179.46. The shares closed trading at $157.34 on Tuesday.
Timken Co. (NYSE: TKR): Evercore ISI raised the stock to Outperform from In Line and has a $78 price target. The consensus target is $80.33. The stock closed Tuesday at $68.80, up over 4% on the day.
Tradeweb Markets Inc. (NASDAQ: TW): Credit Suisse started coverage with an Outperform rating and a $104 target price. The consensus target is $100.55. The final trade for Tuesday was reported at $84.37.
Zurn Water Solutions Corp. (NYSE: ZWS): Baird upgraded the stock to Outperform from Neutral and lifted the target price to $43 from $38. The consensus target is $40.80, and the last trade for Tuesday was reported at $35.11. That was up over 5% for the day.
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Eight top gold stocks are rated Buy, come with very respectable dividends and look like great ideas for investors worried about the worst inflation in over 40 years. They can really help if the market does go into correction or bear market mode.
Tuesday’s early top analyst upgrades and downgrades included Alaska Air, Allstate, Annaly Capital Management, Cisco Systems, DigitalBridge, Gap, Opendoor Technologies, PepsiCo, SunPower, Texas Instruments, U.S. Bancorp and Zendesk. Analyst calls seen later in the day were on Gap, UBS, Unilever and more.
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