The futures were higher as we start the new trading week, after a wild rollercoaster Friday that saw stocks race higher on the open despite the jobs number for October coming in much hotter than expected. By midday, the gains were gone and all the major indexes traded lower. Then the risk-off crowd returned with a vengeance in the afternoon, and by the close, all the stock market benchmarks ended higher. Wall Street now turns its attention to the midterm elections.

Wall Street estimates had called for 200,000 jobs for the October nonfarm payrolls, and the print came in Friday at 261,000, while the numbers for September were revised higher. This will give the Federal Reserve yet another data point for its interest rate quiver. While the 75-basis-point hikes may be over, and with the terminal rate estimates now as high as 5.25%, it could take three more increases to get to that level, starting with a likely 50-basis-point increase in December.

Treasury yields were up across the curve, with the 30-year benchmark bond yield up nine basis points to close at 4.25%. The two-year and 10-year inversion has widened to its deepest level in 40 years as, the latter closed at 4.16% and the former at 4.66%.

The big winner Friday was oil, as Brent and West Texas Intermediate crude both closed up well over 4% with Brent closing in fast on $100, as global concerns of tight supplies sparked the buying. Natural gas was also higher on the day at 6.46%, an 8% gain. Gold jumped over 3% to close at $1,682, while Bitcoin also climbed over 4% to $21,095.

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 Monday, November 7, 2022.

Advanced Energy Industries Inc. (NASDAQ: AEIS): Citigroup upgraded the stock to Buy from Neutral but clipped the $100 target price to $95. The consensus target is $90.78. The shares closed on Friday at $83.00, up over 3% for the day.

Align Technology Inc. (NASDAQ: ALGN): Citing slowing consumer spending and fading earnings estimates, Zacks selected this medical devices stock as its Bear of the Day. Shares have traded as high as $713.33 in the past year but closed most recently at $180.93. That is down more than 38% in the past 90 days.

Altice USA Inc. (NYSE: ATUS): HSBC Securities raised the shares to Buy from Hold and has a $6 target price. The consensus target is up at $10.09. The last trade Friday came in at $4.73, a 6.5% gain on the day.

Arista Networks Inc. (NYSE: ANET): Piper Sandler’s upgrade to Overweight from Neutral included a price target hike to $164 from $126. The consensus target is $146.69. The shares were last seen on Friday over 7% higher to $131.12. The company posted stellar earnings last week.

Atlassian Inc. (NASDAQ: TEAM): Macquarie’s downgrade was to Neutral from Outperform, and it slashed its $287 target price to $147. The consensus target is $308.65 for now. The stock was hammered Friday, closing down almost 29% at $123.73 after posting disappointing numbers and discouraging guidance.
BigCommerce Holdings Inc. (NASDAQ: BIGC): Truist Financial downgraded the stock from Buy to Hold with a $13 target. The consensus target is $25.27 for now. The stock was crushed Friday, closing down 30% at $9.26 after reporting a third-quarter loss.

Block Inc. (NYSE: SQ): Goldman Sachs reiterated its Buy rating but lowered its $134 target price to $114. The consensus target is $100.20. Friday’s close at $60.11 was up almost 12% after the company reported blowout earnings.

Cardinal Health Inc. (NYSE: CAH): BofA Securities upgraded the stock to Neutral from Underperform and lifted its $64 target price to $80. The consensus target is $70.92. The stock closed on Friday at $79.51, up over 5% for the day due to strong fiscal first-quarter results.

Cohu Inc. (NASDAQ: COHU): Citigroup raised its Neutral rating to Buy from, and the target price rose to $45 from $30. The consensus target is $37.00. The shares ended Friday at $33.55, up almost 12% on the day. The company posted strong results last week.

ConocoPhillips (NYSE: COP): Goldman Sachs raised its $128 target price to $142 and kept a Buy rating. The consensus price objective is $130.43. The stock closed on Friday at $132.32.

Datadog Inc. (NASDAQ: DDOG): Goldman Sachs reiterated a Buy rating but lowered its $188 target price to $162. The consensus target is $121.44. The stock closed over 6% lower on Friday at $70.38 despite very solid earnings for the quarter.

EchoStar Corp. (NASDAQ: SATS): Raymond James lowered its Strong Buy rating to Outperform and cut its $43 target price to $29. The consensus target is $38.50. Friday’s close was at $17.16.

Funko Inc. (NASDAQ: FNKO): Truist Financial’s downgraded was to Hold from Buy, and it halved its $26 price target to $13. The consensus target is $30.97. The stock was obliterated Friday, closing down 60% at $7.92 after a big earnings miss.

GoodRx Inc. (NASDAQ: GDRX): J.P. Morgan’s upgrade was to Neutral from Underweight, but it trimmed its $10 target price to $8. The consensus target is $9.37. Friday’s close was at $5.06.

GoPro Inc. (NASDAQ: GPRO) As J.P. Morgan cut its Overweight rating to Neutral, it lowered the $9 target price to $6. The consensus target is $8.27, and the stock closed at $4.91 on Friday.

Insulet Inc. (NASDAQ: PODD): Piper Sandler upgraded the stock to Overweight from Neutral and raised its $235 target price to $340. The consensus target is $283.81 for now. The stock closed on Friday at $313, up 22% after the company posted outstanding earnings results.

Kemper Corp. (NYSE: KMPR): Raymond James upgraded the company to Outperform from Market Perform and has a $60 target price. The consensus target is $61.25. The $56.13 close on Friday was up over 13% for the day despite last week’s lousy earnings.

Kratos Defense and Security Solutions Inc. (NASDAQ: KTOS): The Buy rating at Canaccord Genuity dropped to Hold with an $11.50 target price. The consensus target is $19.88. The stock closed on Friday at $10.79.

Lamb Weston Holdings Inc. (NYSE: LW): The Zacks Bull of the Day stock has not fallen with the broader market but is up more than 30% year to date, says the analyst. Shares of this packaged foods firm last closed at $85.46, and the $92.57 consensus price target represents a further 8% or so gain and would be a 52-week high.
Medifast Inc. (NYSE: MED): As D.A. Davidson downgraded the stock to Neutral from Buy, it cut its $278 target price all the way to $106. The consensus target is $278. The stock closed 4% higher on Friday at $107.56. The company posted solid results and announced it will raise prices.

Mercury General Corp. (NYSE: MCY): Raymond James upgraded the stock from Underperform all the way to Strong Buy with a $45 target price objective. The stock ended Friday’s session at $36.81, up close to 14% for the day.

Monster Beverage Inc. (NASDAQ: MNST): UBS reiterated a Hold rating and bumped its $99 target price to $102. Wells Fargo maintained an Overweight rating and hiked its $100 target price to $105, while BofA Securities reiterated a Buy rating and its $105 target price is now $109. The consensus target is $100.85. The stock closed on Friday at $97.94, which was up almost 8% after posting outstanding earnings.

Penumbra Inc. (NYSE: PEN): Citigroup raised the stock to Buy from Neutral but trimmed the $217 target price to $212. The consensus target is set at $223. The final Friday trade was recorded at $162.10. That was up almost 7% after it posted earnings and revenue above expectations.

PepsiCo Inc. (NASDAQ: PEP): Redburn initiated coverage with a Sell rating and a $141 target price. The consensus target is up at $183.68. The stock closed on Friday at $178.70.

Spirit AeroSystems Holdings Inc. (NYSE: SPR): Baird’s downgrade to Neutral from Outperform came with a price target cut to $29 from $43. The consensus target is $41.27. Friday’s $23.42 close was a 5% gain on the day, despite posting mixed earnings results last week.

Twilio Inc. (NYSE: TWLO): As Cowen downgraded the shares to Market Perform from Outperform, it also lowered its $100 price target to $65. Wells Fargo lowered its Overweight rating to Equal Weight and slashed its $140 target price to $60. The consensus target is $118.97 for now. The shares closed on Friday at $42.70, down a stunning 35% for the day on earnings and weaker than expected guidance.

WeWork Inc. (NYSE: WE): BTIG Research started coverage with a Buy rating and a $7.50 target. The consensus target is $8.30. The stock closed on Friday at $2.61.

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With oil prices retreating handily from highs printed earlier this year, but demand still strong, shares of some energy master limited partnerships with huge payouts have backed up big time and are offering some of the best entry points for income investors this year.

Friday’s top analyst upgrades and downgrades included Advanced Micro Devices, Bilibili, Cognizant Technologies, Dynatrace, Equinix, Herbalife Nutrition, Match, Nutrien, Robinhood Markets, Roku and Zillow.

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