Fed Anticipation: Analysts Upgrade or Downgrade Amazon, Macy\u2019s, Twitter and More

Markets bounced back on Wednesday after a few consecutive down days. The Nasdaq was leading the charge with a gain of roughly 0.4%, while the Dow Jones industrials and S&P 500 lagged, up only about 0.2% each.

This comes in anticipation of the Federal Reserve’s upcoming moves regarding monetary policy. The central bank is hosting its annual symposium in Jackson Hole, Wyoming, later this week, where many are expecting the Fed to reaffirm its commitment to monetary tightening in the coming weeks and months.

Regardless of what is said at the symposium or whatever takeaways investors may have, the next date to watch is September 21, when many are expecting the Fed to continue to raise interest rates by another 75 basis points.

24/7 Wall St. is reviewing additional analyst calls seen on Wednesday. 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 CrowdStrike, Palo Alto Networks, PayPal, Schlumberger and more.

Amazon.com Inc. (NASDAQ: AMZN): Bernstein reiterated an Outperform rating with a $160 price target. Shares traded near $133 on Wednesday, in a 52-week range of $101.26 to $188.11.

AvalonBay Communities Inc. (NYSE: AVB): Wolfe Research upgraded the stock to Outperform from Peer Perform. The 52-week trading range is $183.35 to $259.05, and the share price was near $208 on Wednesday.

Beyond Meat Inc. (NASDAQ: BYND): Piper Sandler reiterated an Underweight rating and cut the price target to $9 from $12. Shares traded near $26 on Wednesday, in a 52-week range of $20.50 to $123.70.

Catalyst Pharmaceuticals Inc. (NASDAQ: CPRX): Though Roth Capital lowered its Buy rating to Neutral, it also raised the $10 price target to $15.50. The 52-week trading range is $4.81 to $15.07. Shares changed hands near $13 apiece on Wednesday.

Dick’s Sporting Goods Inc. (NYSE: DKS): Cowen reiterated an Outperform rating and raised the $128 price target to $142. Shares have traded as high as $147.39 in the past year but were near $109 on Wednesday, which is down 21% year to date.

Macy’s Inc. (NYSE: M): Cowen reiterated an Outperform rating and raised the price target to $30 from $27. The 52-week trading range is $15.85 to $37.95, and shares were trading near $19 on Wednesday.

Medtronic PLC (NYSE: MDT): The Raymond James downgrade was to Market Perform from Outperform. The 52-week trading range is $86.70 to $135.89 a share, and the stock was last seen near $89.

Twitter Inc. (NYSE: TWTR): Rosenblatt’s downgrade to Neutral from Buy included a price target cut to $37 from $52. The shares traded near $39 on Wednesday. The 52-week range is $31.30 to $68.41.

XPeng Inc. (NYSE: XPEV): Barclays downgraded the shares to Equal Weight from Overweight and lowered the $30 price target to $22. The stock traded near $19 on Wednesday, in a 52-week range of $18.01 to $56.45.

Oil prices tumbled during the summer and could be poised for a big rebound. Plus, Warren Buffett has been focused on energy stocks lately. Seven top energy picks may be just the ticket for investors ahead of the dangerous months of September and October.

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