Futures fell again on Thursday, after another day of demoralization across Wall Street Wednesday in which all major indexes were shredded, as well as transportation and even utilities. As always, one of the biggest concerns remains spiraling inflation. This showed in big ways when big-box retailer Target posted horrible quarterly results and cited rising costs as a big reason for gross margin compression. The parts are hammered, closing 25% in the day.
Safe haven buyers have returned to the Treasury market, as yields have dropped across the curve. Both Brent and West Texas Intermediate crude closed lower during the day, and natural gas closed flat. Gold was slightly higher, while Bitcoin shook again, closing nearly 4%.
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 Thursday, May 19, 2022.
Bill.com Holdings Inc. (NYSE: BILL): Goldman Sachs reiterated a Buy rating on the shares but cut its $ 216 target price to $ 170. The target consensus is $ 232.94. Shares closed nearly 7% on Wednesday at $ 101.63.
Block Inc. (NYSE: SQ): Baird has appointed Outperform-rated stock as a new member of the company’s Fresh Picks list of top stock ideas. The $ 120 target price is lower than the $ 156.57 target agreed upon. The stock closed more than 3% lower on Wednesday at $ 82.06.
Cardinal Health Inc. (NYSE: CAH): Evercore ISI’s upgrade to Outperform from Inline included a price increase target to $ 68 from $ 55. The target consensus is $ 59.77. Wednesday’s close was at $ 55.68.
Caterpillar Inc. (NYSE: CAT): Baird reiterated an Outperform rating on construction equipment heavyweight and has a $ 280 price goal. The $ 235.12 consensus target is closer to Wednesday’s close at $ 207.94.
Century Aluminum Co. (NASDAQ: CENX): Wolfe Research lowered shares in Peer Perform from Outperform, and cut its $ 30 target price to $ 14. The target consensus is $ 28.00 right now. The shares closed more than 16% lower on Wednesday at $ 11.54.