The futures were trading higher in another rally attempt after a grim start to the trading week across Wall Street. All three major indexes once again closed lower, with the venerable Dow Jones industrials leading the way, down over 1%. The song remains the same: worries over higher interest rates and some concerns that some kind of currency implosion may be the black swan event that triggers the big meltdown for stocks. Atlanta Fed President Bostic’s comments that a soft landing for the economy will not be easy and likely will include job losses also fanned the flames and encouraged the risk-off crowd.

Yields across the Treasury curve surged higher again on Monday, with double-digit increases for the five-year and 10-year notes, and even with the move higher, the dreaded two-year and 10-year inversion actually widened some on Monday. The former closed at 4.31%, while the latter closed at 3.88%. Again, bond market traders view this inversion as a recession indicator.

One good bit of news for beleaguered consumers is that, despite gasoline prices rising last week for the first time in 14 weeks, both Brent and West Texas Intermediate crude closed lower on Monday. That gain could be short-lived, as Hurricane Ian is moving into the gulf and the platforms out there may be shut down and evacuated, depending on the storm’s direction. Natural gas closed higher, as did Bitcoin, on Monday, while gold closed lower.

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 Tuesday, September 27, 2022.

ADTRAN Holdings Inc. (NASDAQ: ADTN): Loop Capital upgraded the stock to Buy from Hold and lifted its $21 target price to $26. The consensus target is $28.50. Monday’s close at $19.00 was up close to 5% on the day, likely on the upgrade.

Amresco Inc. (NYSE: AMRC): BofA Securities raised its Neutral to Buy and trimmed its $74 target price to $73. The consensus target is $71.54. The stock closed almost 5% higher on Monday at $68.22.

Arvinas Inc. (NASDAQ: ARVN): Jefferies maintained a Hold rating with a $42 target. The consensus is up at $91.30. The shares closed on Monday up close to 4% to $43.66.

Bristol-Myers Squibb Co. (NYSE: BMY): Goldman Sachs maintained a Buy rating after meeting with top management. Its $85 target price compares with the $81.44 consensus target and Monday’s close at $70.15.
Cadence Design Systems Inc. (NASDAQ: CDNS): Citing sustainable orders going out years, Zacks selected the “King of Chip Design” as the Bull of the Day stock. The shares last closed at $162.38, and the $196.31 consensus target would be a 52-week high.

Cerevel Therapeutics Holdings Inc. (NASDAQ: CERE): Wells Fargo initiated coverage with an Overweight rating and a $38 target. The consensus target is $42. The stock closed on Monday at $26.82.

Cogent Communications Holdings Inc. (NASDAQ: CCOI): KeyBanc Capital Markets upgraded the shares from Sector Weight to Overweight with a $64 price target. The consensus target is $67.75. The shares closed on Monday at $51.09.

Costco Wholesale Corp. (NASDAQ: COST): Jefferies reiterated a Buy rating and has a $610 target price objective. The consensus is just $574.07. The stock closed Monday at $480.30, a 3% gain against a very tough tape.

Delek US Holdings Inc. (NYSE: DK): BofA Securities maintained a Neutral rating with a $35 target price. The consensus target is $33.85. Monday’s close was at $24.15.

Dollar General Corp. (NYSE: DG): Jefferies reiterated a Buy rating on the discount retail giant, which is one of the firm’s top picks in the sector. Its $285 target price is higher than the $266.75 consensus target. Shares closed on Monday at $238.46.

Exxon Mobil Corp. (NYSE: XOM): Goldman Sachs reiterated a Buy rating on the energy behemoth and has a $112 target price, after visiting the company’s headquarters. The consensus target is lower at $106.77. The shares ended Monday trading at $83.98.

FedEx Corp. (NYSE: FDX): Goldman Sachs maintained a Buy rating on the Conviction List member, with a $215 target price, after lowering the earnings forecast. The consensus target is higher at $239.57. The shares closed Monday at $142.90, which was down over 4% on the day.

Fortis Inc. (NYSE: FTS): BofA Securities reiterated an Underperform rating and lowered the $53 price objective to $51. The consensus target is $44.50. The closing share price on Monday was $40.41.

Horizon Therapeutics PLC (NASDAQ: HZNP): Stifel reiterated a Buy rating and has a $138 price target objective. The consensus target is just $105.82. The final trade for Monday was reported at $61.79.

Hyatt Hotels Corp. (NYSE: H): Evercore ISI raised its In Line rating to Outperform with a $100 target price. The consensus target is $103.93. The stock closed on Monday at $78.13.

Lucid Group Inc. (NASDAQ: LCID): Cantor Fitzgerald started coverage with an Overweight rating and a $23 target price. The electric vehicle company has a consensus target of $24.82, and Monday’s closing print was $14.06.

Medtronic PLC (NYSE: MDT): Stifel maintained a Buy rating on the medical devices giant and has a $105 target price. The consensus target is $108.48. The last trade Monday hit the tape at $81.33.
Micron Technology Inc. (NASDAQ: MU): Though Susquehanna reiterated a Positive rating, it lowered its $68 target price to $60. The consensus target for the chip leader is up at $70.80. The final trade for Monday was reported at $48.88.

Neurocrine Biosciences Inc. (NASDAQ: NBIX): Wells Fargo started coverage with an Equal Weight rating and a $110 target price. That compares with the $114.86 consensus target and Monday’s closing print of $100.57.

Salesforce Inc. (NYSE: CRM): Goldman Sachs reiterated a Buy rating after the company’s annual user conference. The stock, which is on the firm’s Conviction List of top ideas, has a $320 price target. The $222.41 consensus target is also well above Monday’s closing print of $146.32.

Silk Road Medical Inc. (NASDAQ: SILK): Stifel reiterated a Buy rating with a $48 price target. The consensus target is $48.80. The stock closed over 4% higher on Monday at $41.67.

Six Flags Entertainment Corp. (NYSE: SIX): Stifel reiterated a Buy rating on the theme park heavyweight and raised the $28 target price to $30. The consensus target is $29.45. Monday’s close was at $18.20.

Synaptics Inc. (NASDAQ: SYNA): Zacks has picked this touch-screen leader as its Bear of the Day. The analyst cites supply chain logistics and a global slowdown. Shares have traded as high as $299.39 in the past year but closed most recently at $98.75. That is down almost 66% year to date.

Tellurian Inc. (NYSE: TELL): Stifel maintained its Sell rating and lowered the $3 price target to $2. The consensus target is $5.72. The shares closed on Monday at $2.36.

Unity Software Inc. (NYSE: U): Oppenheimer kept an Outperform rating with a $60 target price. The consensus target is $55.67. The stock closed on Monday at $32.61.

Vail Resorts Inc. (NYSE: MTN): Stifel lowered its $273 target price to $228 and stayed with a Hold rating. The consensus target is $293.30. The stock closed on Monday at $203.91.

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Monday broke the market low set back in June, and the S&P 500 could lose an additional 15% by the end of the year. 24/7 Wall St. offers six important things investors should consider now, as they may have to prepare for the worst.

The top analyst upgrades and downgrades seen on Monday included BP, Farfetch, Golden Ocean, Lyft, NexTier Oilfield Solutions, Nike, Spirit AeroSystems, TotalEnergies and Unilever.

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