The futures were lower Thursday after a wild back-and-forth day on Wall Street. The risk of a Russian invasion of Ukraine appears to have lessened, as more pundits across Wall Street and in the State Department suggest that a diplomatic solution could be possible. The biggest concern remains spiraling inflation, and the January Federal Open Market Committee minutes seemed to reflect a somewhat increasing hawkish stance, as the Federal Reserve governors have left no doubt about a rate hike in March, the only question being how much.
After being down big most of the day, the major indexes reversed after the aforementioned FOMC minutes were released and closed mixed on the day, with the Dow Jones industrials and the Nasdaq posting small declines and the S&P 500 up slightly. Yields were mostly unchanged for Treasury securities, while Brent and West Texas Intermediate crudes gave up early sizable gains and both closed down over 2%.
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 Thursday, February 17, 2022.
Adaptive Biotechnologies Inc. (NASDAQ: ADPT): Goldman Sachs reiterated a Neutral rating and slashed the price target to $21 from $54. JPMorgan kept an Overweight rating but cut the $70 price target to $50, while BTIG Research maintained a Buy rating and sliced its target to $30 from $35. The consensus target is $46.20. The stock closed trading Wednesday at $15.43, up over 5% for the day.
Airbnb Inc. (NASDAQ: ABNB): Truist Securities reiterated a Hold rating but raised the target price to $190 from $180. Goldman Sachs kept a Sell rating but lifted the $140 price target to $150. Needham has a Buy rating and a $220 price target, which was raised from $210. Evercore ISI maintained an Outperform rating and lifted the $215 price objective to $235. The consensus target for the home-sharing giant is $192.50, and the final trade for Wednesday was at $188.53, up almost 5% after the company posted stellar results.
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