Monday’s Top Analyst Upgrades and Downgrades: Ally Financial, Chesapeake Energy, C3.ai, First Solar, Medtronic, Opendoor Technologies and More

The futures dipped lower to start out the week after a fairly uneventful Friday. Earnings are continuing to roll in, but markets have yet to really pick a definitive direction. Many expect the Federal Reserve to pivot and even lower rates this year, but with inflation remaining stubbornly higher than expected, not only will rates go up another 25 basis points in early May, some now feel there could be even more rate hikes coming down the pipe after that.

Brent and West Texas Intermediate crude continued their slide, as WTI pushed even further below the $80 a barrel level to $77. While oil has backed up from the big move higher, which was a result of OPEC announcing a big production cut, analysts cite the summer driving season and increased Chinese demand as support for higher prices to come.

Gold edged higher but is still holding just below the $2,000 level at $1,994. Some feel that gold can take a run at new all-time highs, should there be any disruptions in the equity markets. Bitcoin traded lower again in Monday’s premarket, down just over 2% at $27,338.

24/7 Wall St. reviews dozens of analyst research reports each day of the week with a goal of finding fresh 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 Monday, April 24, 2023.

ADC Therapeutics S.A. (NYSE: ADCT): BofA Securities downgraded the stock to Underperform from Neutral and cut its price target to $2 from $7. The consensus target is $12.17. The stock closed on Friday at $2.30.

Ally Financial Inc. (NYSE: ALLY): BofA Securities upgraded the shares to Neutral from Underperform and raised its $24 price target to $28. The consensus target is $32.12. The stock closed down almost 2% on Friday at $25.86.

Alpha Tau Medical Ltd. (NASDAQ: DRTS): H.C. Wainwright initiated coverage with a Buy rating and a $9 price target. That is well above the $16.50 consensus target and Friday’s closing print of $2.85.

Alteryx Inc. (NYSE: AYX): Loop Capital raised its Hold rating to Buy with a $65 price target. The consensus target is $78.13. Friday’s final trade was for $52.13 a share.

Arbor Realty Trust Inc. (NYSE: ABR): J.P. Morgan’s downgrade was to Neutral from Overweight. The analyst also cut the $15 price target to $11, well below the $16.00 consensus target. Friday’s closing share price was $10.69.

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