Investing
Futures were higher on Wednesday, after another train wreck of a trading session on Tuesday. All major indices have been hammered, with the Nasdaq now having the worst month since the fall of 2008. The safe-haven Utility index is the only sector not destroyed.
Worldwide growth concerns remain a major issue across Wall Street, as China continues its massive and unprecedented lockouts to coincide with massive COVID-19 testing efforts that some fear could initiate more of the Chinese’s draconian efforts to curb the virus. Toss in a threat cited by Bloomberg that Russian Foreign Minister Lavrov warns western countries that there is a “huge” chance of nuclear war if arms deliveries to Ukraine continue, and that’s all we need for the massive fall of Tuesday.
Yields on Treasury securities have dropped again, and despite the upcoming interest rate hike from the Federal Reserve (the next coming to the May meeting next week), concerned investors have rushed back to safety. of US debt. Both the five-year and 10-year note yields dropped by six basis points. The energy complex is across the board, with Brent and West Texas Intermediate crude closing higher, and natural gas jumping nearly 3%. Gold closed the day higher as well.
24/7 Wall St. reviews. dozens of analyst research reports every day of the week with the goal of finding new ideas for investors and traders. Some of this analyst’s daily calls cover stocks to buy. Other calls cover stocks to be sold or avoided. Note that no one analyst call should be used as the basis for buying or selling a stock. The consensus analyst’s target data is from Refinitiv.
These are the top upgrades, downgrades, and startups the analyst saw on Wednesday, April 27, 2022.
Activision Blizzard Inc. (NASDAQ: ATVI): Jefferies reiterated a Buy rating on the video game giant and has a $ 95 target price. The target consensus is $ 94.37. The last trade on Tuesday was posted at $ 77.06.
Alcoa Corp. (NYSE: AA): Goldman Sachs reiterated a Buy rating on the Conviction List member, citing a big pullback in shares recently, and the firm has a $ 110 target price. The consensus target was $ 91.67, and the closing price of the share on Tuesday was $ 66.97.
ALSO READ: 7 Highest-Yielding ‘Strong Buy’ REITs Offer Huge Dividends and Inflation Protection
Amgen Inc. (NASDAQ: AMGN): Baird maintained an Underperform rating on the biotech giant, citing the end of the giant’s $ 6 billion buyback of the company as an important point in the future. The company’s target price of $ 185 is lower than the agreed -upon target of $ 247.94. The shares were last seen on Tuesday trading at $ 249.87.
Bank of New York Mellon Corp. (NYSE: BK): JP Morgan lowered shares to Neutral from Overweight and cut its $ 59 target price to $ 51.50. The target consensus is $ 55.83. The stock closed Tuesday at $ 43.26.