The futures traded lower once again Tuesday. After a wretched early start Monday, the markets turned around in a massive way to post gains across the board. The Treasury bond market saw big early buying across the curve, with the yields dropping in a big way on the five-year and 10-year notes early, and finally closing lower by nine and eight basis points, respectively. That can only mean one thing: nervous investors are rushing to government bonds looking for safe-haven protection from the recent equity carnage after a big run-up in yields over the past month.
The only good news for beleaguered consumers, who continue to face a rising tide of inflation and prices, was that both Brent and West Texas Intermediate crude closed lower, with each trading down almost 4%. Natural gas fought the energy selling trend on Monday, closing up over 2%. Gold rallied after a slow start to close slightly higher at the pivotal $1,900 per ounce 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 Tuesday, April 26, 2022.
American Express Co. (NYSE: AXP): Baird kept a Neutral rating on the credit card giant and has a $175 price target after first-quarter results were mostly in line. The consensus target is $201.87. Monday’s close was at $184.10 a share.
APA Corp. (NASDAQ: APA): Goldman Sachs raised the $46.50 target price to $52.50 but kept a Neutral rating on the energy giant. The consensus target is $49.98. The stock closed Monday at $39.08, which was down 4% for the day.
Apple Inc. (NASDAQ: AAPL): Baird has an Outperform rating and a $190 price target in front of the technology giant’s Thursday earnings release and suggests buying shares on any weakness after the report, as much of the positive metrics seem priced in now. The consensus target is $193.28. Monday’s final trade was at $162.88.
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AT&T Inc. (NYSE: T): Goldman Sachs reinstated coverage on the legacy telecom company with a Buy rating and a $23 price target. The consensus target is $19.51. The stock closed on Monday at $19.51.
Baker Hughes Co. (NASDAQ: BKR): HSBC Securities raised the oilfield services leader to Buy from Hold and has a $38.20 target price. The consensus target is $40.30. The shares were last seen Monday at $30.74, down almost 5% on the day.
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