Markets were somewhat mixed to start out the week. While the Dow Jones and S&P 500 each were pushing a slight gain on the day, the Nasdaq was looking at a loss of roughly 0.4%. A lagging tech sector was the contributing factor that was holding back markets.
This is also shaping up to be one of the most jam-packed weeks of the year, not just for major earnings but also for economic data and Fed moves. Look out for big names like, Apple, Alphabet, Microsoft, Amazon and more reporting earnings this week. Also, the Fed is announcing — what most likely will be — a 75-basis-point interest rate hike later this week. And to top all of this off, the GDP estimate for the second quarter will come out on Thursday, which will may indicate if the US economy is in a recession.
24/7 Wall St. is reviewing additional analyst calls seen on Monday. We have included the latest call on each stock, as well as a recent trading history and the consensus targets among analysts. Note that analyst calls seen earlier in the day were on Activision Blizzard, AutoDesk, Boston Beer, and more.
Blackstone Inc. (NYSE: BX): Keefe Bruyette downgraded to a Market Perform rating from Outperform and cut the price target to $115 from $127. The shares traded near $96 on Monday. The 52-week trading range is $86.97 to $149.78.
Lam Research Corp. (NASDAQ: LRCX): Barclays downgraded to an Equal Weight rating from Overweight and cut the price target to $450 from $625. The stock traded near $454 on Monday. The 52-week trading range is $375.87 to $731.85.
Latch, Inc. (NASDAQ: LTCH): Keefe Bruyette downgraded to an Underperform rating from Market Perform and cut the price target to $1.15 from $3.25. The 52-week trading range is $1.02 to $14.83. The stock traded near $1 on Monday.
Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN): SVB Leerink downgraded to a Market Perform rating from Outperform with a $630 price target. The 52-week trading range is $538.01 to $747.42, and shares were trading near $584 on Monday.
SVB Financial Group (NASDAQ: SIVB): Evercore ISI upgraded to an Outperform rating from In Line with a $430 price target. The stock traded near $389 on Monday, in a 52-week range of $355.37 to $763.22.
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