The futures were lower Thursday, after an attempt at a follow-through second day of the risk-on rally succeeded and all the major indexes and the transports closed dramatically higher. As expected, the Federal Reserve raised interest rates 25 basis points for the first time since 2018, and it is expected the Fed will raise the same quarter point during the next six meetings planned for this year. Treasury note and bond yields were higher across the curve, as the move by the central bank was widely anticipated, but yields once again all closed at 52-week highs.
Oil prices were essentially flat, and gold was marginally lower after a big move above the $2,000 per ounce level recently. The lower commodity prices and very oversold conditions are being attributed as the reason for the two-day rally. Toss in some supportive comments from China, and the possibility for continued progress in the talks between Russia and Ukraine, as other reasons for the turn around.
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, March 17, 2022.
Adobe Inc. (NASDAQ: ADBE): Stifel lowered the $700 price target on the technology heavyweight to $600 while maintaining a Buy rating on the stock. The consensus target is $642.44. The final trade on Wednesday was reported at $442.36, which was up nearly 5% for the day.
American Airlines Group Inc. (NYSE: AAL): Goldman Sachs kept a Sell rating on the carrier while slicing the $14 target price to $12. The consensus target is $17.40, and the stock closed almost 6% higher on Wednesday to $16.47.
Atlas Technical Consultants Inc. (NASDAQ: ATCX): Stifel raised the price target on the Buy-rated shares to $16 from $13. The consensus target is $14.33. The stock closed on Wednesday at $11.45.
BWX Technologies Inc. (NYSE: BWXT): BofA Securities raised its $55 price target to $65 while maintaining a Buy rating. The consensus target is $62.13. The last trade on Wednesday hit the tape at $52.49.
Coupa Software Inc. (NASDAQ: COUP): Goldman Sachs maintained a Buy rating on the stock but slashed the $251 target price to $83. The consensus target is $193.57 for now. The shares closed Wednesday at $79, up almost 9%, after getting crushed earlier in the week on disappointing forward guidance.
Delta Air Lines Inc. (NYSE: DAL): Zacks named this stock as its Bear of the Day. The analyst says that even though this airline has beaten the number more often than not of late, estimates have slipped. Shares have traded as high as $51.82 in the past year but closed most recently at $36.93, down more than 5% year to date.
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