The futures were higher as we start the new trading week, after all the major indexes closed lower on Friday. With inflation and jobs data out of the way for now, and earnings for the first quarter all but over, all the attention on Wall Street now will turn to the debt limit negotiations. For some reason, the scheduled meeting for last Friday between President Biden and Speaker McCarthy was canceled, although staffers did continue to meet. Now we are just over two weeks out from a possible default. Needless to say, no agreement would be a catastrophe for the stock and bond markets here and abroad.

Treasury yields were up across the curve on Friday, with the biggest rise coming on the short maturities as the two-year closed at 3.99% and the 10-year note at 3.46%. Bond traders are also keeping a very close eye on the debt ceiling discussions. One item sending yields higher to end the week was Federal Reserve Governor Bowman’s comments that if inflation lingers and stays elevated, and the labor market stays tight, rates may still need to go higher.

Brent and West Texas Intermediate crude were both down to complete a lousy week for the energy complex. The weakness was countered by the news that oil and gas drilling in the United States saw the biggest weekly drop in rigs since June of 2020, according to sources. Natural Gas finished the day higher, closing up almost 4% at $2.27.

Gold finished the day flat at $2,015, while Bitcoin was absolutely mauled again, closing down over 1% at $26,682, finishing up the worst week for the crypto giant since November. Fading liquidity and the potential for new government regulations were cited as the reasons for the huge decline last week.

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, May 15, 2023.

American States Water Co. (NYSE: AWR): Wells Fargo upgraded the stock to Equal Weight from Underweight and bumped its $90 target price to $94. The consensus target is $93.33. The stock closed on Friday at $91.68.

Arrowhead Pharmaceuticals Inc. (NASDAQ: ARWR): SVB Securities downgraded the shares to Market Perform from Outperform and has a $40 target price. The consensus target is up at $61.93. The shares closed on Friday at $39.32.

Bright Horizons Family Solutions Inc. (NYSE: BFAM): Though Credit Suisse downgraded the stock to Neutral from Buy, it also raised its $95 target price to $101. That compares with an $83.00 consensus target and Friday’s closing print of $88.86.
Cutera Inc. (NASDAQ: CUTR): Stifel reiterated a Buy rating with a $35 target price. The consensus target is $28 for now. The stock closed on Friday at $14.51, which was up almost 3% for the day on a bounce-back move after the company reported a first-quarter loss and missed revenue estimates last week.

CyberArk Software Ltd. (NASDAQ: CYBR): Oppenheimer maintained an Outperform rating with a $180 target price. The consensus target is $179.36. The stock closed on Friday at $141.39.

Diageo PLC (NYSE: DEO) Jefferies downgraded the spirits giant to Hold from Buy and trimmed its $200 target price to $190. The consensus target is $199.60, and shares closed on Friday at $178.22.

Dillards Inc. (NYSE: DDS): While Telsey Advisory reiterated a Market Perform rating, it also cut its $380 target price to $325. That compares with a lower $267.50 consensus target and Friday’s closing print of $283.73.

Dish Network Corp. (NASDAQ: DISH): Goldman Sachs slashed its $13 target price for the Neutral-rated shares to $6. The consensus target is $17.57. Friday’s close was at $6.16.

Electronic Arts Inc. (NASDAQ: EA): The Hold rating at DZ Bank rose to Buy, and its $142 target price is well above the $137.80 consensus target. Friday’s close was at $125.47.

Enovis Corp. (NASDAQ: ENOV): As Wells Fargo upgraded the stock to Overweight from Equal Weight, its $55 target price increased to $67. The consensus target is $64.40. Friday’s closing share price was $56.53.

Ferrari N.V. (NYSE: RACE): BofA Securities maintained a Buy rating. Its $350 price objective is higher than the $306.95 consensus target and Friday’s close at $296.27.

Fiverr Inc. (NYSE: FVRR): RBC Capital Markets reiterated a Sector Perform rating, but its $40 target price dropped to $32. The consensus target is $47.70. Friday’s close was at $27.94.

Fox Corp. (NASDAQ: FOXA): Wells Fargo’s downgrade to Equal Weight from Overweight included a target price decline to $35 from $44. The consensus target is $36.60. The stock closed on Friday at $30.72.

Gilead Sciences Inc. (NASDAQ: GILD): Oppenheimer reiterated an Outperform rating with a $115 target price. The consensus target is $83.00, and Friday’s final trade was for $78.17 a share.

Green Plains Inc. (NASDAQ: GPRE): BofA Securities resumed coverage with a Buy rating and a $39 target price. The consensus target is $43.63. Friday’s $31.59 close was up over 5% on the day.

MDC Holdings Inc. (NYSE: MDC): This homebuilder was named the Bull of the Day stock at Zacks, which cited its attractive combination of value, growth, and momentum. Shares most recently closed at $41.52, which is up more than 31% year to date.

Molson Coors Beverage Co. (NYSE: TAP): Jefferies reiterated a Buy rating with a $74 target price. The consensus target is $62.25, but the stock closed on Friday at $64.25.
O’Reilly Automotive Inc. (NASDAQ: ORLY): Roth MKM reiterated a Buy rating and lifted its $940 target price to $995. The consensus target is $974.10. Friday’s close was at $962.10.

PacWest Bancorp (NASDAQ: PACW): Its Bear of the Day stock is at the heart of the regional banking crisis, says Zacks. The shares have traded as high as $32.68 in the past year but closed most recently at $4.55, which is down about 80% or so year to date.

Palo Alto Networks Inc. (NASDAQ: PANW): CapitalOne started coverage with an Overweight rating and a $247 target price. The consensus target is just $222.41. The stock closed at $199.30 on Friday.

SJW Group (NYSE: SJW): Wells Fargo’s downgrade was from Equal Weight to Underweight with a $76 target price. The consensus target is $84.75. Friday’s close was at $75.76.

SoFi Technologies Inc. (NASDAQ: SOFI): Truist Financial initiated coverage with a Buy rating. Its $8 target price compares with a $7.54 consensus target and Friday’s close at $5.02.

Surgery Partners Inc. (NASDAQ: SGRY): Mizuho initiated coverage with a Buy rating and a $48 price objective. The consensus target is $48.44. Shares ended trading on Friday at $35.36.

TriNet Group Inc. (NYSE: TNET): Needham initiated coverage with a Buy rating and a $115 target price. The consensus target is $91. The stock closed on Friday at $91.76.

Twilio Inc. (NYSE: TWLO): Mizuho cut its Buy rating to Neutral and its $90 price target to $55. The consensus target is $69.07. The stock ended Friday 3.5% lower at $45.83 after a string of downgrades.

Vitru Ltd. (NASDAQ: VTRU): Credit Suisse upgraded the shares to Outperform from Neutral. Its $23 target price is less than the $25.74 consensus target. Friday’s $16.46 close was up over 9% for the day. The company announced a sizable share buyback program last week.

Get Our Free Investment Newsletter

I have read, and agree to the Terms of Use

It is a stock pickers market, and seven well-known stocks with big dividends, for one reason or another, have backed up recently and are offering passive income investors who are seeking growth an outstanding opportunity at some of the best entry points this year.

See why the price of one common household item has fallen sharply in the past year.

Friday’s top analyst upgrades and downgrades included Albemarle, Alcoa, Alphabet, Block, CF Industries, Kraft Heinz, Livent, Mosaic, Norfolk Southern, Pfizer, RingCentral, Roblox, StoneCo, Trade Desk, Twilio, Walmart and Walt Disney.

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