The futures traded higher on Tuesday, after a follow-through Monday rally failed in the afternoon and saw all the major indexes close the day lower. Market pundits cited the early strength on the potential for China to loosen its draconian COVID-19 lockdowns, the fact that corporate buyback windows have reopened with third-quarter earnings coming to an end, and of course, the always bullish seasonality component. Despite the bullish backdrop, Federal Reserve officials continue to stress that rates are going higher, and the risk many see now is that the terminal rate is also going higher and for longer.

Treasury yields climbed across all maturities except the 30-year-long bond Monday, after the massive buying last week that dropped the 10-year note back to the lowest level in a month. The bond market was closed Friday for Veterans Day, so Monday’s reaction was of the delayed variety. The two-year and 10-year inversion remained in place, with the former closing at 4.40% and the longer debt closing at 3.87%. Bond traders see the continued inversion as a recession threat.

After posting solid gains late last week, both Brent and West Texas Intermediate crude closed well over 3% lower Monday after the Organization of the Petroleum Exporting Countries cut the demand growth estimates for the fifth time since April. OPEC revised down each of its 2022 and 2023 oil demand growth forecasts by 100,000 barrels per day. Natural gas finished the day higher as cold weather swept across much of the nation. Gold closed modestly lower, while Bitcoin ended the day higher after a rollercoaster Monday.

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, November 15, 2022.

Advanced Micro Devices Inc. (NASDAQ: AMD): UBS upgraded the chip giant to Buy from Hold and lifted its $75 target price to $95. The consensus target is $91.77, and Monday’s closing print was $73.53.

Altus Power Inc. (NYSE: AMPS): J.P. Morgan upgraded the stock to Overweight from Neutral and has a $10 target price. Shares have traded as high as $14.72 in the past year, but they closed at $7.11 on Monday, down almost 17% on the day after posting mixed results for the quarter.

Americold Realty Trust Inc. (NYSE: COLD): BofA Securities raised its Neutral rating to Buy and hiked its $27.70 price target to $ $33.50. The consensus target is $31.17. Monday’s close was at $28.66.

Ares Management Corp. (NYSE: ARES): BMO Capital Markets downgraded the stock from Outperform to Market Perform with a $93 target. The consensus target is $87.91. The shares closed almost 6% lower on Monday at $79.53. The company posted disappointing results last week.

Arista Networks Inc. (NYSE: ANET): Earnings momentum and relative strength can take the Zacks Bull of the Day stock to all-time highs, suggests the analyst. Shares last closed at $131.20, and the $155.90 consensus price target represents almost a 19% gain.
Biogen Inc. (NASDAQ: BIIB): Oppenheimer raised its $300 target price on the biotech giant to $315 while maintaining an Outperform rating. The consensus target is $300.89. Monday’s close at $299.06 was up over 3% for the day.

Chart Industries Inc. (NYSE: GTLS): Wells Fargo’s downgraded to Equal Weight from Overweight included a target price cut to $148 from $248. The consensus target is $233.56 for now. The stock closed over 6% lower on Monday at $131. The company is buying Howden for $4.4 billion and also posted earnings that missed expectations last week.

CyberArk Software Ltd. (NASDAQ: CYBR): Stifel reiterated a Buy rating with a $183 target price. The consensus target is $180.54. The stock closed on Monday at $157.38.

EPAM Systems Inc. (NYSE: EPAM): Jefferies reiterated a Buy rating with a $535 target price. The consensus target is just $418.75. The last trade on Monday was reported at $358.10.

Essex Property Trust Inc. (NYSE: ESS): As BofA Securities lowered its Buy rating to Neutral, it also dropped its $265 target price to $233. The consensus target is $266.50. The shares ended Monday trading at $210.47.

Global Payments Inc. (NYSE: GPN): Baird downgraded the stock to Neutral from Outperform. It also slashed its $144 target price to $118. The consensus target is $150.75 for now. The last trade for Monday was reported at $103.23.

Jack in the Box Inc. (NASDAQ: JACK): Oppenheimer reiterated an Outperform rating on the fast-food favorite and has a $107 target price. The consensus target is $91.78. The stock closed on Monday at $84.75.

Kanzhun Ltd. (NASDAQ: BZ): Goldman Sachs upgraded the stock to Buy from Neutral but cut its $27.50 target price to $23, below the consensus target of $26.99. Monday’s $16.09 close was up almost 6% for the day on the potential for Chinese lockdowns to be curtailed.

Medical Properties Trust (NYSE: MPW): BofA Securities raised its Neutral rating to Buy and bumped its $13 price target up to $16. The consensus target for the REIT is $16.46. Monday’s close was at $12.48.

Meta Platforms Inc. (NASDAQ: META): Oppenheimer raised its $140 target price on the Facebook and Instagram parent to $145 while reiterating an Outperform rating. The consensus target is $154.89. final Monday’s close was at $114.22.

Neurocrine Biosciences Inc. (NASDAQ: NBIX): Evercore ISI downgraded the stock to In line from Outperform. The analyst also cut the $140 target price to $130, still above the $128.00 consensus target. The final Monday trade was reported at $118.05.

Nvidia Inc. (NASDAQ: NVDA): Stifel maintained a Hold rating with a $165 target price. The consensus target is up at $189.37. The shares closed on Monday at $162.95
Prime Medicine Inc. (NASDAQ: PRME): Jefferies initiated coverage with a Buy rating and a $25 target price. A consensus was not available, as the company had a recent initial public offering. The shares ended Monday trading at $19.61, down over 7% on the day.

Redfin Corp. (NASDAQ: RDFN): Oppenheimer maintained an Underperform rating on the stock and raised their target price to $3.20 from $1.30. The consensus is set at $4.90. The stock closed Monday at $4.75 down almost 10% after the company announced they were ending their iBuying program.

Ritchie Bros. Auctioneers Inc. (NYSE: RBA): The Neutral rating at Northcoast is now at Buy, and the firm’s $65 target price is well above the consensus target of $59.83. The stock closed up 2% on Monday at $55.99  on no news except the upgrade.

Skechers USA Inc. (NYSE: SKX): Suggesting that investors sell this footwear stock with both feet, Zacks selected it as its Bear of the Day. Shares have traded as high as $49.89 in the past year but closed most recently at $39.18, after a pop of about 13% in the past month.

Thoughtworks Holding Inc. (NASDAQ: TWKS): When Piper Sandler downgraded the software stock to Neutral from Overweight, it also cut its $14 target price to $9.50. The consensus target is $15.40. The shares closed on Monday at $8.34.

TransDigm Group Inc. (NYSE: TDG): Goldman Sachs reiterated a Buy rating with an $814 price target. The consensus target is $724.22, and the stock closed on Monday at $616.14.

Veris Residential Inc. (NYSE: VRE): BofA Securities raised its Underperform rating to Neutral, and the $16 target price increased to $18. The consensus target is $17.00. The shares closed on Monday at $14.71.

Yeti Holdings Inc. (NASDAQ: YETI): Jefferies reiterated a Buy rating on the cooler giant and has a $75 target price. The consensus target is just $52.93. The stock closed on Monday at $44.15.

Get Our Free Investment Newsletter

I have read, and agree to the Terms of Use

Energy is up a stunning 70% this year while other sectors have foundered. Seven top energy infrastructure stocks have big and dependable distributions and still have room to run, offering investors solid total return potential.

Monday’s early top analyst upgrades and downgrades included Advanced Micro Devices, Ally Financial, AppLovin, Coherent, FIGS, Nvidia, RingCentral, Spirit Aerosystems and Walgreens Boots Alliance. Analyst calls seen later in the day were on ASML, Bank of America, Dominion Energy, Hasbro, Nio, Occidental Petroleum, Teva Pharmaceutical Industries and more.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.