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Futures were broadly higher on Monday as we begin a new week of trading in which investors look to recoup some of the losses suffered last week as the S&P 500 recorded five straight days of losses for the first time since February. The big market development data that hit on Friday was that the producer price index rose 0.7% in August from a month ago, above the estimate of 0 , 6% of the Dow Jones. Final demand prices rose 8.3% from a year ago, with the largest increase on record in 2010. The data pretty much confirms what many on Wall Street already know, that the so-called transient inflation could be there longer than expected.
Despite the concerns and the potential for a “taper tantrum” as we saw in 2013, the Federal Reserve is committed to keeping interest rates contained. With that in mind, Fed officials have strongly hinted that the $ 120 billion per month QE purchases will start scaling back as early as November and that all massive bond purchases could be completed by the end. from 2022.
While big Wall Street companies still warn of the potential for an imminent 5% to 10% correction across the board (which may have started last week), it makes sense for investors to continue to build up liquidity reserves in any market force while repositioning portfolios. for the remainder of 2021.
24/7 Wall St. examines dozens of analyst research reports every weekday with the aim of finding new ideas for investors and traders. Some of these daily analyst calls cover stocks to buy. Other calls relate to stocks to sell or to avoid. Remember that no analyst call should ever be used as a basis for buying or selling a stock. Target data for consensus analysts comes from Refinitiv.
These are the main analyst upgrades, demotions and initiations seen on Monday, September 13, 2021.
Airbnb Inc. (NASDAQ: ABNB): Goldman Sachs started its hedging with a sell note and a price target of $ 132. The consensus target price is much higher at $ 175.71. Friday’s last trade came in at $ 165.20 per share.
Amazon.com Inc. (NASDAQ: AMZN): Goldman Sachs began hedging the tech giant’s shares with a buy note and a massive price target of $ 4,250. The consensus target is $ 4,142.65, and the stock was last seen at $ 3,469.15 on Friday.