Stocks were mixed on Thursday afternoon after a very difficult Wednesday which saw all major indices as well as transport take a hit. While the tone of the Federal Reserve’s open market committee statement was somewhat accommodating, as they left interest rates unchanged and maintained the ‘transitional’ label on current inflation, they also increased inflation expectations for this year. Additionally, the policy statement indicated that the Fed may raise interest rates sooner than it expected, forecasting two interest rate hikes in 2023.
24/7 Wall St. reviews some big analyst calls seen on Thursday. We’ve included the latest analyst call on each stock, as well as recent trading history and consensus goals among analysts.
In case you missed it, Thursday’s first analyst upgrades and downgrades included Altria, Camping World, Charter Communications, Coca-Cola and more.
American Express Co, (NYSE: AXP): DZ Bank has downgraded the credit card and payments giant’s shares to Hold from Buy. The stock traded in a 52-week range of $ 89.11 to $ 167.14 and has a consensus price target of $ 154.80.
CyrusOne Inc. (NASDAQ: CONE): Cowen has lowered the shares to Outperform’s Market Perform and has a price target of $ 80, almost in line with the consensus target of $ 80.50. The stock has traded between $ 61.64 and $ 86.77 in the past 52 weeks.
Ingersoll Rand Inc. (NYSE: IR): Vertical Research raised the industrial giant’s shares to Buy from Hold, and analysts have set a price target of $ 54. The consensus goal is $ 55.57. Over the past 52 weeks, the stock has traded between $ 26.72 and $ 52.12 per share.
Honest Co. Inc. (NASDAQ: HNST): Guggenheim has downgraded Jessica-Alba-led stock, which was recently the subject of an initial public offering, to Neutral from Buy. Since the transaction was established, the shares have traded between $ 14.54 and $ 23.88. There was no consensus price target.
Northern Trust Corp. (NASDAQ: NTRS): Keefe Bruyette has demoted the white glove bank and investment firm to Market Perform from Outperform and has a price target of $ 128. The consensus price target is below $ 116.67. The shares have traded between $ 72.64 and $ 123.10 in the past year.
Nvidia Corp. (NASDAQ: NVDA): Jefferies reiterated its long-standing buy rating on the semiconductor leader while raising the price target to $ 854 from $ 740. The shares have traded in a wide 52 week range of $ 356.00 to $ 753.40 and have a consensus price target of $ 721.
Patterson Companies Inc. (NASDAQ: PDCO): Piper Sandler’s upgrade of the overweight energy company to neutral included a hike in the price target to $ 44 from $ 34. This compares to the consensus price target of $ 33.67. The shares traded in a 52 week range of $ 18.77 to $ 37.34.
QuantumScape Corp. (NYSE: QS): Wolfe Research has started covering the electric vehicle battery maker with a Peer Perform rating and a price target of $ 25. The consensus target is up to $ 49, and the shares have traded in a wide 52-week range of $ 9.74 to $ 132.73.
Stanley Black & Decker Inc. (NYSE: SWK): Gabelli raised the venerable toolmaker’s stock to buy from Hold. Over the past year, the stock has traded between $ 129.56 and $ 225 a share. The consensus price target is $ 238.31.
Goldman Sachs has four big energy ideas on its conviction list of the best stocks to buy, and all of them offer exceptional growth potential and reasonable entry points, compared to some of the other companies in the industry.
Additionally, Wednesday’s injured memes actions included AMC Entertainment and BlackBerry. Did Warren Buffett sell Chevron, Synchrony and other stocks too soon? What about GM, Merck, Sirius XM and more?