Markets gave back some of their gains on Wednesday, after what was one of the strongest trading sessions in recent memory. The Dow Jones industrials led the charge lower, down nearly 1%.

Citigroup’s Chief Global Economist, Nathan Sheets, recently put the odds of a recession at 50%. A confluence of factors, namely rising interest rates and historic levels of inflation, is the underlying thesis for the call.

While many analysts have made calls about an impending recession, Sheets suggests that gross domestic product growth for 2022 could be stuck around 2.3%, implying some weakness over the summer. Looking ahead to 2023, he is calling for GDP growth of 1.7%.

If anything, a “soft landing” for the economy may be a little far-fetched at this point. What is actually happening resembles more of a “dead cat bounce.” Either way, this makes for a stock-picker’s market.

24/7 Wall St. is reviewing additional analyst calls seen on Wednesday. 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 Chevron, ConocoPhillips, Kraft Heinz, Micron, Netflix, Nike and more.

Advanced Micro Devices Inc. (NASDAQ: AMD): Morgan Stanley resumed coverage with an Overweight rating and a $103 price target. The stock traded near $84 on Wednesday. The 52-week trading range is $79.43 to $164.46.

Airbnb Inc. (NASDAQ: ABNB): JMP Securities downgraded the stock to Market Perform from Outperform. The 52-week trading range is $92.09 to $212.58, and shares traded above $99 apiece on Wednesday.

Anthem Inc. (NYSE: ANTM): Morgan Stanley’s downgrade to Equal Weight from Overweight included a price target cut to $533 from $607. The 52-week trading range is $355.43 to $533.68, and shares were trading near $456 on Wednesday.

Boston Beer Co. Inc. (NYSE: SAM): Bernstein lowered its Outperform rating to Market Perform and cut the $565 price target to $340. The 52-week trading range is $287.00 to $1,059.04, and shares traded above $293 apiece on Wednesday.

Burlington Stores Inc. (NYSE: BURL): Cowen downgraded the shares from Outperform to Market Perform with a $175 price target. The stock traded near $154 on Wednesday, in a 52-week range of $142.41 to $357.34.

Cigna Corp. (NYSE: CI): Morgan Stanley upgraded it to Overweight from Equal Weight. The analyst also raised the $283 price target to $296. The 52-week range is $191.74 to $273.58. Shares traded near $253 apiece on Wednesday.

Darden Restaurants Inc. (NYSE: DRI): Oppenheimer reiterated an Outperform rating but cut the price target to $155 from $175. The shares traded near $113 on Wednesday. The 52-week trading range is $110.96 to $164.28.

Dow Inc. (NYSE: DOW): The Credit Suisse downgrade was to Underperform from Neutral, and the firm cut the $67 price target to $49. The stock traded near $52 on Wednesday, in a 52-week range of $52.07 to $71.86.

Jack in the Box Inc. (NASDAQ: JACK): Cowen downgraded the stock to Market Perform from Outperform and has a $68 price target. The 52-week trading range is $57.04 to $122.35. Shares were changing hands at around $58 on Wednesday.

PulteGroup Inc. (NYSE: PHM): RBC Capital Markets cut its Outperform rating to Sector Perform and lowered the $56 price target to $41. Shares were trading near $37, in a 52-week range of $35.03 to $58.09.

Scotts Miracle-Gro Co. (NYSE: SMG): Wells Fargo’s downgrade to Equal Weight from Overweight came with a price target reduction to $85 from $115. The stock traded near $75 on Wednesday. The 52-week trading range is $72.58 to $197.96.

Summit Materials Inc. (NYSE: SUM): RBC Capital Markets upgraded it to Outperform from Sector Perform. The price target was cut to $31 from $33 as well. The 52-week trading range is $22.93 to $41.46, and shares were trading near $23 on Wednesday.

Welltower Inc. (NYSE: WELL): J.P. Morgan upgraded the stock to Overweight from Neutral, but the price target was cut to $89 from $94. The 52-week range is $76.56 to $99.43. Shares traded near $78 apiece on Wednesday.

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