The futures were mixed on Friday, after a brutal risk-off start to Thursday that turned around in the afternoon. Buying in the Treasury bond market was brisk, as yields once again were lower across the curve. Among the cited many reasons for the big volatility on Thursday was the ongoing debt ceiling issues, skyrocketing energy prices, record insider stock sales and a host of additional issues. On the positive side, however, multiple companies posted some very good retail earnings reports and guidance, and there was just a modest increase in new claims for unemployment.
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 debt ceiling issue and the ongoing China worries, 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 Friday, November 19, 2021.
Arista Networks Inc. (NYSE: ANET): Though Morgan Stanley downgraded the shares to Equal Weight from Overweight, the firm also raised the price target from $115 to $138. The consensus target is $126.29. The last trade for Thursday came in at $132.55 a share.
DataDog Inc. (NASDAQ: DDOG): RBC Capital Markets upgraded the stock to Outperform from Sector Perform and boosted the $191 price target to $235. The consensus price target is $205.22, and Thursday’s closing share price was $190.60.
DCP Midstream L.P. (NYSE: DCP): Stifel upgraded the shares to Buy from Hold and raised the target price to $35 from $29. The consensus target is $36.15. The final trade for Thursday was reported at $29.55.
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