Tuesday's Top Analyst Upgrades and Downgrades: AbbVie, Alibaba, American Airlines, Chipotle, JD.com, Pfizer, Starbucks and More

Investing

Published: July 27, 2021 8:50 am

Last Updated: July 27, 2021 10:57 am

The futures were lower on Tuesday after we started the week with all three of the major indexes again printing fresh intra-day all-time highs. Almost 165 S&P 500 companies are due to report in this the biggest earnings week of the season, with most of the technology heavyweights ready to step up to the plate. Wall Street pundits are watching China’s regulatory crackdown, which has expanded to for-profit education and property management sectors. In addition, the bipartisan infrastructure deal appears to be on track to come together this week. Speaker Pelosi reiterated it will not get a House vote without progress on a pork-packed reconciliation bill focused on Democratic priorities

Many across Wall Street remain leery of the beginning of the tapering of the quantitative easing program after the clear building of inflationary pressures, despite the fact the Federal Reserve is vowing to keep interest rates contained. That could be one reason for the continued moves higher in the equity markets even after sell-offs. Also note that money markets continue to see massive inflows, which is another big plus.

With major Wall Street firms still warning of the potential for impending 5% to 10% correction across the board, it makes sense for investors to continue building some cash reserves into the market strength while repositioning portfolios for the rest of 2021.

24/7 Wall St. reviews dozens of analyst research reports each day of the week with a goal of finding new 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, July 27, 2021.

AbbVie Inc. (NASDAQ: ABBV): Truist Securities resumed coverage of the pharmaceutical giant’s stock with a Buy rating and a $118 price target. The consensus target is higher at $124.08. The final trade on Monday came in at $117.79 a share.

Advance Auto Parts Inc. (NYSE: AAP): Raymond James raised its Outperform rating on the popular retailer to Strong Buy and also lifted the price target to $250 from $215. The $218.60 consensus price objective is closer to Monday’s closing print of $214.09.