The futures were mixed Monday as investors and traders got ready to start what could be another volatile week across Wall Street. There were some reports last week that Russian President Putin noted “certain positive shifts” in the talks between Russian and Ukrainian diplomats, but an early Friday rally rolled over once again by the noon hour, as reports circulated the Russian military was moving to reposition to attack Kyiv. The four major indexes closed down big. The Nasdaq led the slide once more, down over 2% on the day, again joining the Russell 2000 in bear market territory, which is down over 20% from the highs.
All eyes this week are focused on the Federal Reserve, which is expected to raise rates by 25 basis points. Top economists expect as many as ten or more total rate increases between now and the end of 2023. These will be the most increases by the Federal Reserve since 2005, as well as the first increases since 2019.
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 Monday, March 14, 2022.
Alcon Inc. (NYSE: ALC): BofA Securities started coverage of the stock with a Buy rating and an $85 target price. The consensus target is $85.83. The stock closed trading on Friday at $73.01.
Amazon.com Inc. (NASDAQ: AMZN): Deutsche Bank started coverage on the technology heavyweight with a Buy rating and a $4,100 target price. The consensus target is $4,099.88. The shares closed Friday at $2,910.49.
Andersons Inc. (NASDAQ: ANDE): Zacks said that this is a critical link in the American agriculture supply chain, and the firm selected it as the Bull of the Day stock. The shares last closed at $43.90 and have a $45.75 consensus price target.
BlackRock Inc. (NYSE: BLK): Goldman Sachs lowered the price target of the money management behemoth to $800 from $1,000, while keeping a Buy rating on the stock. The consensus target is $943.27, and shares closed on Friday at $687.04.
Booking Holdings Inc. (NASDAQ: BKNG): Deutsche Bank started coverage with a Buy rating and a $2,512 target price. The consensus is posted at $2,661.36. The stock closed at $2,017.40 on Friday.
Caterpillar Inc. (NYSE: CAT): Wells Fargo started coverage with a Neutral rating and a $231 target. The consensus price objective for the construction equipment colossus is $171.87. The stock closed on Friday at $214.83.
Chevron Corp. (NYSE: CVX): Morgan Stanley cut shares of the integrated energy heavyweight to Equal Weight from Overweight and has a $166 price objective. The consensus target is $157.36. Friday’s final trade was reported at $170.90. As it is trading just shy of a 52-week high, this move looks like a valuation call.
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