Here Are Tuesday's Top Wall Street Analyst Research Calls: AT&T, Amgen, CrowdStrike, Gilead, Hims & Hers, Intuit, Lowe's,Qualcomm, Rivian, Strategy and More
Quick Read
A stunning reversal in oil prices provided some momentum for stocks, as all major indices closed higher on Monday. West Texas Intermediate and Brent Crude both ended Monday lower after surging higher overnight. The stock market is still dangerously overbought even after the recent pullback, so investors still need to use extreme caution, as the Iran War fundamental issues have not changed yet.
Futures are trading higher as many across Wall Street breathed a semi-sigh of relief yesterday after oil futures, which shot up to $120 overnight, retreated below $100 on Monday. That was the biggest spike in oil pricing since 2020. With the retreat in the black gold, the major indices did a massive midday turnaround. Then, news hit the tape that President Trump is considering taking control of the Strait of Hormuz, which sent all the major indices higher. When it was all said and done, all four finished the day higher. The battered Nasdaq led the comeback, closing up 1.38% at 22,695, with the small-cap Russell 2000 in close pursuit, finishing the day up 1.13% at 2,556. The S&P 500 closed Monday at 6,795, up 0.83%, and the Dow Jones closed out the winners at 47,740, up 0.50%. While the rally was encouraging for investors who were hammered last week, it was likely driven by large-scale short covering, and we may still not be out of the woods.
Yields were down across the Treasury curve except for the maturities of 1 year and shorter. Buyers returned to the belly of the curve and the longer-dated maturities, the same area that drew buyers on Friday. Surging global oil prices stoked inflation fears and raised the specter of stagflation, prompting investors to brace for prolonged high interest rates amid ongoing geopolitical tensions. The 30-year long bond closed Monday’s session at 4.72% while the benchmark 10-year note was last seen at 4.11%.
Once again, Wall Street remained laser-focused on oil pricing, and, as mentioned, after trading near $120 overnight, the quick return to $100 and lower was a huge boost for the stock market and equities in general following last week’s across-the-board selling. Brent Crude closed Monday at $90.91, down 1.92%, and the most important number for the American consumer was West Texas Intermediate, which closed down 4.13% at $87.15. Natural gas closed down 4.49% at $3.03.
Cryptocurrencies showed notable strength Monday, with Bitcoin advancing amid rising oil prices and heightened geopolitical uncertainty. The late-day rally in the equity markets helped to push the total crypto market cap beyond $2.3 trillion. Ongoing short covering and some bargain-value buying helped provide a tailwind yesterday. At 8 AM EDT, Bitcoin was trading at $70,624, up 4.5% over the last 24 hours, while Ethereum was trading at $2,063.
- AT&T Inc. (NYSE: T) was upgraded to Neutral from Sell at Arete with a $28 target price.
- CrowdStrike Holdings Inc. (NASDAQ: CRWD) was upgraded to Overweight from Equal Weight at Morgan Stanley, which raised the target price for the cybersecurity giant to $510 from $487.
- Hims & Hers Health Inc. (NYSE: HIMS) was upgraded to Neutral from Sell at Citigroup, which lifted the target price for the shares to $24 from $13.25.
- Intuit Inc. (NASDAQ: INTU) was upgraded to Buy from Neutral at Rothschild & Co Redburn, who raised the price target for the company to $700 from $670.
- Rivian Automotive Inc. (NASDAQ: RIVN) was raised to Buy from Hold at TD Cowen, which bumped the target price for the stock to $20 from $17.
- Day One Biopharmaceuticals Inc. (NASDAQ: DAWN) was downgraded to Neutral from Buy at H.C. Wainwright, which trimmed the target price for the company to $21.50 from $22.
- Novo Nordisk A/S (NYSE: NVO) was downgraded to Hold from Buy at TD Cowen, which lowered the target price on the shares to $42 from $45.
- Qualcomm Inc. (NASDAQ: QCOM) was downgraded to Underperform from Neutral at Bank of America, with a $145 target price.
- Talkspace Inc. (NASDAQ: TALK) was cut to Sector Weight from Overweight at KeyBanc, as the company will be acquired for $5.25
- Amgen Inc. (NASDAQ: AMGN) was initiated with a Hold rating at Jefferies, with a $350 target price objective.
- Gilead Sciences Inc. (NASDAQ: GILD) was initiated with a Buy rating at Jefferies, which has a $180 price target for the shares.
- Lowe’s Companies Inc. (NYSE: LOW) was started with a Neutral rating at KGI Securities, which has a $255 target for the retail giant.
- Rocket Companies Inc. (NYSE: RKT) was started with a Buy rating at Compass Point, which has set a $21 target price.
- Strategy Inc. (NASDAQ: MSTR) was initiated with a Buy rating at B. Riley, which has a $175 target price set.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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