The futures traded lower across the board Wednesday on what is typically a very slow day as traders and investors are leaving early to get a jump on the Thanksgiving holiday. The Nasdaq was pummeled again Tuesday, while both the Dow Jones industrials and the S&P 500 closed higher.
It has become pretty clear that institutional money managers are taking profits, as many of the hyper-growth technology and communication stocks were hit, whether profitable or not. President Biden retaining Fed Chair Powell remains a hot topic, as many are expecting the Federal Reserve may have to speed up to a more aggressive policy shift given the persistent and ongoing inflation that consumers and businesses are experiencing.
Top strategists across Wall Street remain focused on the potential for rising interest rates, the quantitative easing tapering, big increases in energy costs and the ongoing supply chain issues and stagflation worries. Toss in the very pressing debt ceiling issue and the ongoing China concerns, and there is still plenty of potential for volatility.
24/7 Wall St. reviews dozens of analyst research reports each day of the week with a goal of finding new 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 Wednesday, November 24, 2021.
Agilent Technologies Inc. (NYSE: A): Cowen reiterated an Outperform rating and lifted the price target to $187 from $180, while Stifel kept a Hold rating but nudged the firm’s price objective to $169 from $162. Tuesday’s closing trade was reported at $154.78, which was down almost 5% for the day.
Allstate Corp. (NYSE: ALL): Goldman Sachs started the insurance giant with a Sell rating and a $106 price target. The consensus price target is up at $132.79. Tuesday’s closing share price was $114.90.
BurgerFi International Inc. (NYSE: BFI): BTIG Research started the popular fast-food restaurant with a Buy rating and an $11 price target. The shares have traded as high as $17.70 in the past year but closed on Tuesday at $7.31.
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