The futures were trading mixed, with the Nasdaq futures up huge after massive numbers from Nvidia, after a dreadful Wednesday that saw all the major indexes close in the red. Once again, the leading cause for the selling was the ongoing debt ceiling issue, which is quickly running out of time for a solution. The Republicans continue to stand their ground on budget cuts and spending, and some noted there remains a “significant gap” in negotiations with the president and his team. Strategists also cited the slower reopening in China as a headwind for the markets Wednesday.

Treasury yields were modestly higher on Wednesday as bond traders continue to eye the debt ceiling talks closely. Yields on the one-month T-bill have skyrocketed over the potential for a debt-ceiling-triggered default. The one-month bill closed at a stunning 5.83%, which compares with the two-year yield of 4.328% and the benchmark 10-year note at 3.75%.

Brent and West Texas Intermediate crude both surged higher Wednesday, closing up 1.47% and 1.29% respectively, after the U.S. Energy Information Administration reported a massive draw in crude oil of 6.7 million barrels. With the unofficial start to the summer driving season starting this Memorial Day weekend, demand could increase in a big way. Natural gas also finished higher, up 3.6%, at $2.41.

Gold finished lower on the day at $1961.90, despite the debt ceiling turmoil, as the sellers returned to take profits on the bullion. Bitcoin was the big loser on the day, as the cryptocurrency giant was pounded lower to the tune of 2.93% to close at $26,413. Just over a month ago, it traded over the $30,000 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 Thursday, May 25, 2023.

Allison Transmission Holdings Inc. (NYSE: ALSN): Citing strategic buyouts and new product launches, Zacks selected this stock as its Bull of the Day. Shares last closed at $47.57, which is up more than 14% year to date.

Antero Resources Corp. (NYSE: AR): Goldman Sachs lowered its $34 price target on the Buy-rated shares to $29. The consensus target is $31.08. The stock closed at $23.34 on Wednesday.

Autodesk Inc. (NASDAQ: ADSK) BMO Capital Markets initiated coverage with a Neutral rating and a $224 price target. The consensus target is higher at $231.83. Wednesday’s last trade was at $196.75 a share.

AutoZone Inc. (NYSE: AZO): Jefferies reiterated a Buy rating with a $2,850 target price. The consensus is $2,772.10, and shares closed on Wednesday at $2,423.62 apiece.
Berry Global Group Inc. (NYSE: BERY): Truist Financial’s upgrade was to Buy from Hold. It also raised its $69 price target to $73, above the $71.07 consensus target. Wednesday’s final print was $60.03 a share.

Camping World Holdings Inc. (NYSE: CWH): The Market Perform rating was raised to Outperform at BMO Capital Markets, which also boosted its $26 price target to $35. The consensus target is $41.50. The stock closed over 4% higher on Wednesday at $27.45 after the upgrade.

Coterra Energy Inc. (NASDAQ: CTRA): Goldman Sachs initiated coverage with a Buy rating and a $29 target price. The consensus target is $30.58. Wednesday’s close at $25.51.

Dollar General Corp. (NYSE: DG): Jefferies reiterated a Buy and has a $285 target price. The consensus target is $241.38. The stock closed at $208.83 on Wednesday.

Eli Lilly and Co. (NYSE: LLY): UBS reiterated a Buy rating and lifted its price target to $498 from $477. The $424.22 consensus target is less than the most recent close at $425.93.

First Horizon Corp. (NYSE: FHN): Although Jefferies upgraded the bank to Buy from Neutral, it also cut its target price to $13 from $18. The consensus target is $16.75. The shares closed on Wednesday at $11.08.

Infosys Ltd. (NASDAQ: INFY): J.P. Morgan started coverage with a Neutral rating and a target price of $14 The consensus target is $18.34, and the stock closed on Wednesday at $15.57.

Integra Lifesciences Holdings Corp. (NASDAQ: IART): J.P. Morgan cut its Neutral rating to Underweight and its $56 target price to $43. The consensus target is $39.28 for now. Wednesday’s $39.15 close was down almost 3% on the day. The stock was hammered this week after a product recall.

Intuit Inc. (NASDAQ: INTU): Oppenheimer reiterated an Outperform rating. Its $476 target price compares with a consensus target of $451.00 and Wednesday’s close at $415.92.

New Relic Inc. (NYSE: NEWR): D.A. Davidson reiterated a Buy rating but trimmed its target price to $95 from $100. The consensus target is $82. The shares ended Wednesday trading at $79.73 apiece.

Owens Corning (NYSE: OC): The Barclays upgrade to Overweight from Equal Weight included a target price hike to $135 from $113. The consensus target is $117.36. The shares closed on Wednesday at $108.24.

Palo Alto Networks Inc. (NASDAQ: PANW): UBS reiterated a Neutral rating but lifted its $200 target price to $220. Stifel maintained its Buy rating, and its price objective rose to $240 from $225. Barclays reiterated an Overweight rating and boosted the $235 target price to $245. The consensus target is $203.32. Wednesday’s $204.31 close was up over 7% for the day in the wake of stellar quarterly results.
Range Resources Corp. (NYSE: RRC): Goldman Sachs upgraded the stock from Sell to Neutral. Though it nudged its $30 target price to $31, that is still below the $32.29 consensus figure. Wednesday’s final trade was for $29.80 per share.

Sherwin-Williams Co. (NYSE: SHW): When Jefferies upgraded the shares to Buy from Hold, the analyst raised the price target to $275 from $240. The consensus target is $253.26. The stock closed on Wednesday at $228.82.

Southwestern Energy Inc. (NYSE: SWN): The Goldman Sachs downgrade to Sell from Neutral included a target price cut to $5 from $5.75. The consensus target is $7.54. Wednesday’s close was at $5.21.

Textron Inc. (NYSE: TXT): Vertical Research downgraded the shares from Buy to Hold with a $70 target price. The consensus target is $81.48. Wednesday’s closing share price was $62.28.

Toast Inc. (NYSE: TOST): D.A. Davidson resumed coverage with a Buy rating and a $25 target price. The consensus target is $23.38, and Wednesday’s close was at $21.37.

Urban Outfitters Inc. (NASDAQ: URBN): Barclays raised its Equal Weight rating to Overweight and its $27 price target to $38. The consensus target is $28.63. The stock closed at $31.35 on Wednesday.

Workday Inc. (NASDAQ: WDAY): As Exane BNP Paribas upgraded the stock to Buy from Hold, its $240 target price increased to $275. The $211.99 consensus target is closer to Wednesday’s $181.92 closing price.

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