Markets pushed lower to close out the week, with the Nasdaq leading the charge, down over 2%. The S&P 500 was down about 1.5% and the Dow Jones industrials down about 1%. All this comes on the heels of a stronger-than-expected employment report for the month of May.
On Thursday, we saw a fairly strong jobless claims report that beat expectations, with continuing claims coming in at a number not seen since 1969. As for the monthly report, numbers impressed yet again, with 390,000 jobs created and the unemployment rate holding steady at 3.6%. Consensus estimates had called for 318,000 jobs and a 3.5% unemployment rate.
Overall, these numbers represent a tightening within the labor market and continued strength. Despite current headwinds, this seems to be the one bright spot in the market.
24/7 Wall St. is reviewing additional analyst calls seen on Friday. We have included the latest call on each stock, as well as a recent trading history and the consensus targets among analysts. Note that analyst calls seen earlier in the day were on Costco, GE, Meta, Micron, Schlumberger and more.
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BankUnited Inc. (NYSE: BKU): Keefe Bruyette downgraded the stock to Market Perform from Outperform and has a $51 price target. The stock traded near $41 on Friday, in a 52-week range of $37.08 to $48.72.
Canadian National Railway Co. (NYSE: CNI | CNI Price Prediction): CIBC upgraded the shares to Outperform from Neutral. The 52-week trading range is $100.66 to $137.19, and shares traded above $118 apiece on Friday.
Fate Therapeutics Inc. (NASDAQ: FATE): Robert Baird started coverage with a Neutral rating and a $28 price target. The 52-week trading range is $20.49 to $97.43, and shares were trading above $23 on Friday.
LendingTree Inc. (NASDAQ: TREE): William Blair resumed coverage with an Outperform rating. The stock traded near $60 on Friday. The 52-week trading range is $54.42 to $228.81.
Moody’s Corp. (NYSE: MCO): The Barclays downgrade to Equal Weight from Overweight included a price target cut to $285 from $350. The stock traded near $283 on Friday, in a 52-week range of $269.47 to $407.94.
Regions Financial Corp. (NYSE: RF): Keefe Bruyette raised its Underperform rating to Market Perform, and the $24 price target increased to $26. Shares were trading near $22, in a 52-week range is $18.02 to $25.57.
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Snowflake Inc. (NYSE: SNOW): Raymond James started coverage with an Outperform rating and a $184 price target. The stock traded near $132 on Friday. The 52-week trading range is $112.10 to $405.00.
Travelers Companies Inc. (NYSE: TRV): Goldman Sachs downgraded it to Sell from Neutral and cut the $190 price target to $170. The 52-week trading range is $114.44 to $187.98, and shares were trading just under $176 on Friday.
Voya Financial Inc. (NYSE: VOYA): Goldman Sachs lifted its Neutral rating to Buy but trimmed the $81 price target to $80. The 52-week trading range is $48.97 to $74.97, and shares traded near $68 apiece on Friday.
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