The futures were trading mixed as we prepare to finish off the trading week with a triple-witching Friday, after a big risk-on day across Wall Street when all the major indexes traded higher. The venerable Dow Jones industrial average led the surge, finishing the day up 0.96% at 34,907.11. Investors shook off some hotter than expected inflation data on Wednesday and Thursday, after retail sales numbers soared unexpectedly in August partially on rising gasoline prices. Initial jobless claims came in at 220,000, versus expectations of 225,000. One big threat on the horizon is the potential for a government shutdown if an agreement is not reached by the September 30 deadline.

Treasury yields were higher across the yield curve Thursday, especially through the longer maturities, as the bond market, (as opposed to the equity market) was not overly thrilled with the higher than expected inflation data this week. The benchmark 10-year note closed the session at 4.29%, while the shorter two-year paper was last seen at 5.02%. While the inversion between the two has narrowed, it has remained in place for almost a year ,and many feel it is a harbinger of recession next year.

Brent and West Texas Intermediate crude renewed their charge higher on Thursday, with both benchmarks closing the day solidly higher. Brent closed up 2.16% at $94.04, while WTI ended the day at $90.58. Natural gas also had a solid day, up 1% to close at $2.70.

Gold closed the day slightly lower after the producer price index number came in higher and the big retail sales numbers. The December contract closed at $1,931.60. Bitcoin roared higher for the second day in a row, closing the session at $26,609.20, up another 1.54% on the day.

24/7 Wall St. reviews dozens of analyst research reports each weekday 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 Friday, September 15, 2023.

Arco Platform Ltd. (NASDAQ: ARCE): J.P. Morgan downgraded the stock to Neutral from Overweight and lowered its $17 target price to $14. The consensus target is $16.47, and the shares ended Thursday trading at $13.76 apiece.

AvalonBay Communities Inc. (NYSE: AVB): Colliers Securities upgraded the stock to Buy from Neutral and has a $202 target price. The consensus target is $204.32. Shares closed on Thursday at $183.47.

BJ’s Wholesale Club Holdings Inc. (NYSE: BJ): TD Cowen started coverage with an Outperform rating and a $80 price target following much better than expected results from the company. The consensus target is $71.39. The stock closed almost 4% higher on Thursday at $69.83 after the upgrade.
Carnival Corp. & PLC (NYSE: CCL): Redburn Atlantic upgraded the shares to Overweight from Neutral. Its target price of $23 compares with a $17.81 consensus target and Thursday’s close at $15.63, which was up 4% for the day on the upgrade.

Carrier Global Corp. (NYSE: CARR): Mizuho cut its Buy rating to Neutral and its $63 target price to $61. The consensus target is $60.38, and the stock closed on Thursday at $54.76.

Etsy Inc. (NASDAQ: ETSY): Wolfe Research’s upgrade was from Peer Perform to Outperform with a $100 target price. The consensus target is higher at $107.96. The stock closed over 3% higher on Thursday at $66.68.

First Solar Inc. (NASDAQ: FSLR): BMO Capital Markets upgraded the company from Market Perform to Outperform with a $237 target price. The consensus target is $246.01. Thursday’s close at $177.00 was a gain of nearly 4% for the day, after the upgrade.

Frontier Group Holdings Inc. (NASDAQ: ULCC): When TD Cowen lowered its Outperform rating to Market Perform, its $12 target price dropped to $8. That compares with a $12.11 consensus target and Thursday’s closing share price of $5.57.

Herbalife Nutrition Ltd. (NYSE: HLF): D.A. Davidson initiated coverage with a Neutral rating and a $13.50 target. The consensus is up at $20.70, and the stock closed 3% higher on Thursday at $15.01.

J.M. Smucker Co. (NYSE: SJM): As BofA Securities downgraded the shares to Neutral from Buy, its target price fell to $145 from $170. The consensus price target is $149.18. On Thursday, the closing share price was $127.42.

MetLife Inc. (NYSE: MET): Jefferies upgraded the shares to Buy from Hold. The analyst also raised its $58 target price to $73, which is still below the $78.92 consensus target. Thursday’s close was at $65.93.

MSCI Inc. (NYSE: MSCI): Redburn Atlantic downgraded the stock to Neutral from Overweight and slashed its $650 price target to $554. The consensus target is $589.64. The last trade for Thursday hit the tape at $538.69.

Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH): Redburn Atlantic boosted its Neutral rating to Overweight with a $25 target price. The consensus target is $20.64. Thursday’s $17.28 close was almost 6% higher for the day on the upgrade.

Oracle Inc. (NYSE: ORCL): DZ Bank upgraded the shares to Buy from Hold. Its $125 target price is well above the consensus target of $117.97. The last trade on Thursday was reported at $113.66.
Prudential Financial Inc. (NYSE: PRU): Jefferies upgraded the shares to Hold from Underperform and lifted its target price to $93 from $70. The consensus target is $99.93, while Thursday’s closing share price was $99.14.

RAPT Therapeutics Inc. (NASDAQ: RAPT): Berenberg initiated coverage with a Buy rating and a $34 target price. The consensus target is higher at $41.67. The stock closed on Thursday at $19.21.

RTX Corp. (NYSE: RTX): BofA Securities lowered its Neutral rating to Underperform, and its $95 price objective shrank to $75. That compares with a $95 consensus target and Thursday’s closing print of $75.50. The company reported earlier this week that its profits would be taking a hit.

Semtech Corp. (NASDAQ: SMTC): Susquehanna raised the stock from Neutral to Positive with a $30 target price. The consensus target is up at $38.64. The shares closed on Thursday at $25.18. That was up close to 10% for the day after strong quarterly results were posted.

S&P Global Inc. (NYSE: SPGI): Wolfe Research initiated coverage with an Outperform rating and a $453 target price. The consensus target is $447.10. Thursday’s close was at $396.19.

Victoria’s Secret & Co. (NYSE: VSCO): Citing negative earnings estimate revisions, Zacks named this as its Bear of the Day stock. In the past year, the shares have traded as high as $48.16, but they closed most recently at $17.81.

Virtu Financial Inc. (NASDAQ: VIRT): Citigroup upgraded the shares to Buy from Neutral. The firm’s $20 target price is less than the consensus target of $21.24. After the upgrade, shares closed over 6% higher on Thursday at $17.94.

Get Our Free Investment Newsletter

I have read, and agree to the Terms of Use

These seven major energy infrastructure stocks offer safe and reliable distributions and, with oil prices on the rise, look like great buys now for income investors seeking total return potential.

Eventually, the Federal Reserve will lower interest rates to get the economy moving again, and investors in higher-yielding stocks could see a big rally. Seven top stock picks with dependable dividends make sense now for growth and income investors.

What the federal poverty rate does not tell you.

Thursday’s top analyst upgrades and downgrades included American Airlines, Apple, Conagra Brands, Fortinet, Mondelez, Oracle, Rivian Automotive, Sealed Air, Take-Two Interactive Software, Tapestry and Tesla.

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