On the weekend of July 4th, many analysts sit back and check out early, so calls for the morning were few and far between. Friday’s futures were positive ahead of June’s unemployment report. Estimates call for hiring to be accelerated, with non-farm workers expected to grow by 720,000, representing a sixth consecutive monthly increase. The unemployment rate is projected to fall to 5.6%, which would be a low in the pandemic era. How stocks will react to this report or the Federal Reserve remains to be seen.
Wall Street is concerned about the tapering of the quantitative easing program, but despite significantly increasing inflationary pressures, the Federal Reserve vows to keep interest rates down. This could be one reason for the continued uptrend in the equity markets, even after sell-offs. Another big plus is the ongoing massive inflows into the money markets.
With big Wall Street firms still warning of the potential for an impending 5% to 10% correction across the board, it makes sense for investors to continue building some cash reserves into market strength while keeping portfolios for the coming quarter and the rest of the year To be repositioned in 2021.
24/7 Wall St. reviews dozens of analyst research reports each day of the week with the aim of discovering new ideas for investors and traders alike. Some of these daily analyst calls relate to stocks to be bought. Other calls concern stocks to be sold or avoided. Remember, no single analyst call should ever be used as a basis for buying or selling a stock. The target data of the consensus analysts come from Refinitiv.
These are the top analyst upgrades, downgrades, and initializations for Friday July 2nd, 2021.
Arcos Dorados Holdings Inc. (NYSE: ARCO): JPMorgan resumed coverage with an overweight position with a target price of $ 8.50. Shares last closed near $ 6 apiece, and the consensus price target is $ 6.55 per share.
Arcturus Therapeutics Holdings Inc. (NASDAQ: ARCT): Cantor Fitzgerald started coverage with an overweight and a target price of $ 71. The stock closed at around $ 36 per share. The 52-week trading range is $ 24.87 to $ 129.71.
Bloom Energy Corp. (NYSE: BE): Zacks has named this fuel cell manufacturer “Bear of the Day”. The analyst suggests investors should take profits after a big rally in this alternative energy game. The share last closed at $ 26.62 with a consensus price target of $ 32.40.
BRP Inc. (NASDAQ: DOOO): Raymond James started reporting with a strong buy rating. The stock last traded at $ 78, a 52-week range of $ 40.03 to $ 96.44.
Camping World Holdings Inc. (NYSE: CWH): Raymond James began reporting with an Outperform rating and a price target of $ 45. The stock last closed at $ 41 and has a consensus price target of $ 56.43.
ContextLogic (NASDAQ: WISH): Evercore ISI downgraded its stock from Outperform to In-Line and lowered its price target from $ 17 to $ 13. The stock last closed at around $ 12 per share but has a consensus price target of $ 18.00.
Harrow Health Inc. (NASDAQ: HROW): Ladenburg Thalmann started coverage with a buy rating and a price target of USD 14.25. The stock closed near $ 9 on a 52-week range of $ 4.65 to $ 11.24.
ALSO READ: 5 July 4th All-American Stocks To Buy All Year Round
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source https://dailyhealthynews.ca/bloom-energy-camping-world-contextlogic-national-storage-pnc-financial-and-more-24-7-wall-st/
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