The futures were trading higher on an options expiration Friday, as we get set to wrap up a dumpster-fire week that featured two horrific inflation reports that have assured consumers and investors of a 75-basis-point increase in the federal funds rate at the end of the month. To make things worse, a full 1% increase is being priced at an 80% level of probability.

All the major indexes and sectors closed lower Thursday, with the exception of the Nasdaq. A so-so batch of earnings, including some lousy numbers from the big banks, combined with the producer price index inflation report (the highest on record) got the risk-off crowd selling from the opening bell.

Sellers also returned to the Treasury markets, as yields were up across the curve, and the two-year and 10-year note inversion was still in play. The two-year yield closed at 3.12%, while the 10-year yield closed at 2.96%. Again, the bond market often views that inversion as a sign of a recession.

The only good news on Thursday was the continuing slide in Brent and West Texas Intermediate, both closing down near 3%. Beleaguered consumers should be seeing some relief at the pump soon. Gold closed lower, while Bitcoin traded higher on the day, up 1% and back over the $20,000 level.

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 Friday, July 15, 2022.

Advanced Micro Devices Inc. (NASDAQ: AMD): BMO Capital Markets upgraded the chip heavyweight to Outperform from Market Perform and raised the $100 price objective to $115. The consensus target of analysts is $133.16. The shares closed on Thursday at $78.60.

Amazon.com Inc. (NASDAQ: AMZN): Cowen reiterated an Outperform rating on the technology giant but lowered the $215 price target to $210. The consensus target is $174.91. The last trade on Thursday hit the tape at $110.63.

Amphenol Corp. (NYSE: APH): J.P. Morgan upgraded the shares to Overweight from Neutral and have an $83 price objective. The consensus target is $83.77. The closing share price on Thursday was $64.74.

CDW Corp. (NASDAQ: CDW): J.P. Morgan raised its Neutral rating to Overweight with a $200 price target. The consensus target is up at $217.06. Thursday’s final trade was reported at $65.12.
Centene Corp. (NYSE: CNC): Jefferies upgraded the stock to Buy from Hold and raised the $82 price to $115. The consensus target is $96. Thursday’s close was at $85.96.

CF Industries Inc. (NYSE: CF): Credit Suisse started coverage with an Underperform rating and a $73 target price. The consensus target is $110.61. The stock closed almost 6% lower on Thursday at $80.65  on no news except the initiation.

F5 Inc. (NASDAQ: FFIV): Credit Suisse’s downgrade to Neutral from Outperform included a price target cut to $225 from $197. The consensus target is $214.47. Thursday’s close was at $144.85.

Fiserv Inc. (NASDAQ: FISV): Wells Fargo downgraded the shares to Equal Weight from Overweight and lowered the $123 price target to $97. The $125 consensus target also compares with Thursday’s final print of $91.66.

Helmerich & Payne Inc. (NYSE: HP): Barclays upgraded shares of the drilling giant to Overweight from Equal Weight and has a $52 target price. The consensus target is $53.78. The last trade Thursday came in at $38.26.

IDEX Corp. (NYSE: IEX): Oppenheimer raised its Perform rating to Outperform with a $215 price target. The consensus target is $224.85. Shares closed on Thursday at $181.36.

Juniper Networks Inc. (NYSE: JNPR): J.P. Morgan upgraded the stock to Overweight from Neutral and has a $36 target price. The consensus target is $36.19, and the stock closed on Thursday at $28.03.

Lamb Weston Holdings Inc. (NYSE: LW): This food processor has bucked the market’s downtrend due to higher prices for its product offerings, says Zacks, which named it the Bull of the Day stock. Shares last closed at $73.95, which is up more than 16% year to date.

Martin Marietta Materials Inc. (NYSE: MLM): Wolfe Research upgraded the stock to Outperform from Peer Perform but cut the $404 price objective to $384. The consensus target is $429.37. Thursday’s close was at $315.77.

Medical Properties Trust (NYSE: MPW): When Credit Suisse downgraded the stock to Neutral from Outperform it also cut the $23 price target to $17. The consensus target is $21.50. The last trade Thursday was posted at $15.55 a share.
MercadoLibre Inc. (NASDAQ: MELI): The Zacks Bear of the Day stock has fallen steadily since last year and is in an established downtrend, says the analyst. The shares have traded as high as $1,970.13 apiece in the past year but closed most recently at $655.69. That is down more than 51% since the beginning of the year.

Mosaic Co. (NYSE: MOS): Credit Suisse initiated coverage on the fertilizer giant with an Outperform rating and a $60 price target. The consensus price objective is higher at $73.47. The stock closed Thursday at $43.67, which was down almost 6% for the day.

New Fortress Energy Inc. (NASDAQ: NFE): Citigroup resumed coverage with a $56 target price. The consensus target is $57.11, and the shares ended trading on Thursday at $39.19, down close to 5% on the day.

Payoneer Global Inc. (NASDAQ: PAYO): Goldman Sachs upgraded the shares to Buy from Neutral, and the $5.50 price target rose to $6.50. The consensus target is $7. The shares closed almost 10% higher on Thursday at $4.91, likely due to the upgrade.

Ritchie Bros. Auctioneers Inc. (NYSE: RBA): BofA Securities upgraded the stock from Neutral to Buy with a $75 target. The consensus target is $77.67. The stock closed almost 11% higher on Thursday at $66.80 on no news except the upgrade.

TE Connectivity Ltd. (NYSE: TEL): J.P. Morgan downgraded the stock to Neutral from Overweight. The firm’s $134 target price is less than the 52-week high of $166.44, but shares closed most recently at $112.38.

Tesla Inc. (NASDAQ: TSLA): Truist Financial started coverage of the electric vehicle heavyweight with a Buy rating and a $1,000 target price. The consensus target is $893.46. The stock closed on Thursday at $714.94.

Watsco Inc. (NYSE: WSO): Though Baird upgraded the shares to Outperform from Neutral, it also lowered the $350 target price to $313. The consensus target is $298.38. The shares closed at $249.25 on Thursday.

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Overall, the Dow Jones industrial average stocks have outperformed those of the Nasdaq or S&P 500. Five of the highest-yielding Dow stocks look like great ideas now, as they pay investors handsomely to wait out the bear market.

Thursday’s top analyst upgrades and downgrades included Advanced Micro Devices, Alphabet, Amazon.com, Digital Ocean, D.R. Horton, Freeport-McMoRan, Intel, Nvidia, Rivian Automotive, Tesla and Twitter. Analyst calls seen later in the day were on Cisco Systems, Costco, Dollar General, Starbucks and more.

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