The futures traded solidly lower to start the second full week of 2021 trading. With all of the major indexes and the Russell 2000 at all-time highs, some caution could be in order. It is also important to note that a flood of fourth quarter-earnings are about to come pouring out of Wall Street, so investors need to check portfolios and make sure they are ready for what could be a wild first quarter.
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 Monday, January 11, 2021.
Airbnb Inc. (NASDAQ: ABNB) was started with a Buy rating at Tigress Financial. Since the recent red-hot initial public offering, it has traded between $121.50 and $174.97. The Wall Street consensus target is set at $154.16, and the last trade on Friday hit the tape at $149.77.
Anaplan Inc. (NYSE: PLAN) was upgraded to Outperform from Neutral at Piper Sandler, which also lifted the price target to $87. Jefferies upgraded it to Buy from Hold and raised the price target to $85. Those targets compare with the $77.26 consensus target and Friday’s $71.46 per share close.
Archer Daniels Midland Co. (NYSE: ADM) was downgraded to Market Perform from Outperform at BMO Capital Markets, though the price target was raised to $56. The consensus target is $54.92. The final trade last Friday was posted at $52.57.
Boot Barn Holdings Inc. (NYSE: BOOT) was raised at JPMorgan from Neutral to Overweight with a $60 target price. The consensus target is $44.27. On Friday, the stock ended trading at $48.50. Shares were up over 6% in Monday’s premarket action.
Carrols Restaurant Group Inc. (NASDAQ: TAST) was named as the Zacks Bear of the Day stock. The firm said that this fast-food restaurant owner and operator is struggling along with the rest of the industry. Shares last closed at $6.20 and have a consensus price target of $7.83.
ContextLogic Inc. (NASDAQ: WISH) had a recent high-profile IPO but has not fared well since. The quiet period has ended and many top firms have jumped in with coverage on the e-commerce company:
- BofA Securities with a Buy rating and a $26 target
- Credit Suisse with an Outperform rating and a $31 target
- Cowen with an Outperform rating
- Deutsche Bank as a Buy with a $26 price objective
- Goldman Sachs with a Neutral rating and a $19 target
- JPMorgan with a $30 target and an Overweight rating
- Oppenheimer at Outperform with a $30 price objective
- UBS with a $28 target price and a Buy rating
ContextLogic shares were last seen on Friday trading at $20.36 apiece.
CrowdStrike Holdings Inc. (NASDAQ: CRWD) was upgraded to Buy from Hold at Jefferies, which also raised the price target to $275. The consensus target is $198.37, and shares closed on Friday at $223.73.
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