Tuesday’s Top Analyst Upgrades and Downgrades: Altria, AIG, Datadog, DraftKings, Marriott, NortonLifeLock, Opendoor, Realty Income, Roblox, Under Armour and More
The futures traded higher Tuesday after another dumpster fire day across Wall Street, when the relentless selling from last week returned to start the week off. All the major indexes ended lower, with the Nasdaq once again taking the brunt of the selling and ending down 3.7%. Last week marked the fifth straight week that the S&P 500 closed lower, the longest losing streak for the venerable index since 2011. The culprits were the same Monday, as soaring interest rates and the Federal Reserve’s hawkish monetary policy stance were cited by top strategists, along with the China lockdowns and the inflation worries.
One positive sign on Monday was that both Brent and West Texas Intermediate crude closed over 6% lower, and some energy analysts feel we may have hit the peak in gasoline prices, unless another geopolitical bombshell drops. Natural gas was down over 13%, after a torrid run recently that had pushed prices over the $8 level. Gold was also down almost 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 Tuesday, May 10, 2022.
Altria Inc. (NYSE: MO): Bernstein downgraded the cigarette maker to Market Perform from Outperform and lowered the $58 target price to $53. The consensus target is $57.29, and shares closed on Monday at $55.26.
American International Group Inc. (NYSE: AIG): Goldman Sachs reiterated its Buy rating and has an $81 target price. The stock is also on the firm’s Conviction List. The consensus target is $69.92. The stock closed over 4% lower on Monday to $59.61.
AMETEK Inc. (NASDAQ: AME): Baird kept a Neutral rating on the shares while cutting the $156 price target to $140. The consensus target is $157.36. The shares ended Monday trading at $121.97.
Barings BDC Inc. (NYSE: BBDC): Oppenheimer maintained an Outperform rating with a $12 target price. The consensus target is $12.18. The closing share price on Monday was $10.20.
Cigna Corp. (NYSE: CI): Oppenheimer reiterated an Outperform rating with a $310 target price. The consensus target is $269.75. The stock closed at $261.41 on Monday.
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