Accenture, FedEx, McAfee, PubMatic, ServiceNow, Sofi, Trade Desk, etc. – 24/7 Wall St.

Futures went higher on Wednesday, and after Tuesday’s high back and forth, the opening rose sharply after Monday’s sharp drop, and then the stock price went up and down before the close. The Standard & Poor’s 500 Index and the Dow Jones Industrial Index closed down, while only the Nasdaq Index rose.

Although more accusations are directed at Evergrande, a shaky Chinese real estate company with debts of more than US$300 billion, China’s restrictions on various industries are also considered to be a fly in the ointment. Although Evergrande’s problem is big, the person in charge of the Wall Street conversation said that despite the problems, this is not the time for Lehman Brothers. In September 2008, Lehman Brothers filed for bankruptcy protection. At that time, this 164-year-old company was the fourth largest investment bank in the United States, and its bankruptcy triggered the global financial crisis.

Although the consumer price index and retail sales eased some inflation and growth concerns last week, concerns about stagflation continued to intensify despite continued supply chain and input pressures and the recovery headwinds brought about by the spread of Delta variants. Many on Wall Street believe that the head of the Fed’s conversation will provide very clear hints on reductions at this week’s meeting, but strategists also expect monetary policy to remain extremely accommodative.

24/7 Wall St. reviews dozens of analyst research reports every day of the week, with the purpose of finding new ideas for investors and traders. Some of these daily analyst calls cover the stocks to be purchased. Other calls cover stocks to be sold or avoided. Remember, any analyst call should not be used as a basis for buying and selling stocks. Consensus analyst target data comes from Refinitiv.

These are the top analyst upgrades, downgrades, and launches seen on Wednesday, September 22, 2021.

Accenture PLC (NYSE: ACN): MoffettNathanson raised the stock from “Neutral” to “Buy” with a target price of $405. The consensus target on Wall Street is only $338.06. The stock closed at $331.15 on Tuesday.

Ambarella Inc. (NASDAQ: AMBA): KeyBanc Capital Markets upgraded its industry weight rating to Overweight, with a target price of $85. The consensus price target is $142.80. The stock closed at $148.92 on Tuesday.

American Car-Mart Inc. (NASDAQ: CRMT): Investors should wait for the next catalyst, because this car dealer recommends Zacks, which the company named today’s bear market stock. The stock price recently closed at US$119.92 per share, with a consensus target price of US$165.75.