Markets pushed higher on Thursday, continuing Wednesday’s optimism in regards to slowing inflation. The Dow Jones industrials led the charge higher, up about 0.7%, while the Nasdaq and S&P 500 were up 0.5% each.
Jobless claims rose for the second consecutive week, demonstrating that there was some softening within the labor market, despite a strong July employment report. According to the U.S. Department of Labor, initial claims rose 14,000 to 262,000, coming in just under a consensus estimate of 263,000.
It is worth pointing out that economists previously noted that, should jobless claims fall within the range of 270,000 to 300,000, there might very well be a material slowdown in the labor market.
24/7 Wall St. is reviewing additional analyst calls seen on Thursday. 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 Coinbase, Disney, Micron, Shopify, Take-Two Interactive and more.
Boot Barn Holdings Inc. (NYSE: BOOT): Seaport Research Partners upgraded the stock to Buy from Neutral and has a $100 price target. The stock traded near $71 on Thursday, in a 52-week range of $58.51 to $134.50.
BuzzFeed Inc. (NASDAQ: BZFD): The BofA Securities downgrade to Underperform from Neutral included a price target cut to $2.00 from $4.50. The 52-week trading range is $1.50 to $14.77, and shares traded near $2 apiece on Thursday.
Cheniere Energy Partners L.P. (NYSE: CQP): Evercore ISI raised its In-Line rating to Outperform and nudged the $54 price target to $55. The 52-week trading range is $38.00 to $61.91. Shares changed hands near $48 apiece on Thursday.
Coupang Inc. (NYSE: CPNG): Deutsche Bank’s downgrade to Neutral from Buy came with a price target cut to $15.00 from $18.50. The shares traded near $21 on Thursday. The 52-week trading range is $8.98 to $36.49.
Exxon Mobil Corp. (NYSE: XOM): Credit Suisse resumed coverage with an Outperform rating and a $125 price target. The stock traded near $92 on Thursday, in a 52-week range of $52.10 to $105.57.
First Solar Inc. (NASDAQ: FSLR): The KeyBanc Capital Markets upgrade was from Sector Weight to Overweight with a $145 price target. The 52-week trading range is $59.60 to $123.13, and the share price was near $117 Thursday.
Lowe’s Companies Inc. (NYSE: LOW): Citigroup downgraded it to Neutral from Buy and cut the $222 price target to $205. The 52-week trading range is $170.12 to $263.31, and shares were trading near $201 on Thursday.
Traeger Inc. (NYSE: COOK): William Blair’s Outperform rating was cut to Market Perform. Robert Baird lowered its Outperform rating to Neutral and reduced its $7 price target to $4. Shares have traded as high as $29.46 in the past year but were near $4 on Thursday, which is down 67% or so year to date.
Upstart Holdings Inc. (NASDAQ: UPST): The Atlantic Equities downgrade was to Underweight from Neutral, and the firm cut the $32 price target to $22. The stock traded at around $34 on Thursday. The 52-week range is $22.42 to $401.49 a share.
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