Markets turned lower again on Thursday, with the Nasdaq and Dow Jones industrial average each down roughly 0.3%, while the S&P 500 was just slightly behind with a 0.2% retreat. All this comes after the Nasdaq posted its worst day in roughly three weeks, leading to questions of whether this is currently a bear market rally. While the economics have been improving in terms of inflation and employment, there are still lingering concerns and debate over recent gross domestic product numbers.<\/p>\n
For reference, during the dot-com bubble of 2000 to 2002 the S&P 500 dropped by roughly 51% from its prior highs. However, there were five bear market rallies over the course of the crash, with one even rallying 25%. Even with these five bear market rallies, the index still legged lower after each one, eventually to be halved.<\/p>\n
Recently, markets have been fickle, and the end may not yet be in sight, at least until some technical levels are broken and then, hopefully, with the backing of some strong economic data. Forbes thinks the bottom might not be in yet either, according to its post before July\u2019s rally.<\/p>\n
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 Dell Technologies, First Solar, FuboTV, Seagate, 3M and more.<\/p>\n
Analog Devices Inc. (NASDAQ: ADI): Needham downgraded the stock to Hold from Buy. The 52-week trading range is $138.50 to $191.95, and the share price was near $169 on Thursday.<\/p>\n
Bed Bath & Beyond Inc. (NASDAQ: BBBY): Wedbush\u2019s downgrade was from Neutral to Underperform with a $5 price target. The 52-week trading range is $4.38 to $30.14. Shares changed hands near $17 apiece on Thursday.<\/p>\n
Brinker International Inc. (NYSE: EAT): KeyBanc Capital Markets downgraded the shares to Sector Weight from Overweight. Shares have traded as high as $55.53 in the past year but were near $32 on Thursday, which is down 10% year to date.<\/p>\n
DCP Midstream L.P. (NYSE: DCP): RBC Capital Markets cut its Outperform rating to Sector Perform and lowered the $41 price target to $38. The shares traded near $38 on Thursday. The 52-week trading range is $23.58 to $39.54.<\/p>\n
Hasbro Inc. (NASDAQ: HAS): BofA Securities resumed coverage with a Buy rating and a $96 price target. The stock traded near $82 on Thursday, in a 52-week range of $76.94 to $105.73.<\/p>\n
Krispy Kreme Inc. (NASDAQ: DNUT): Evercore ISI\u2019s downgrade to In Line from Outperform included a price target cut to $15 from $20. The 52-week trading range is $11.98 to $19.55, and shares were trading near $13 on Thursday.<\/p>\n
10X Genomics Inc. (NASDAQ: TXG): The Goldman Sachs downgrade was to Sell from Neutral, and it cut the $55 price target to $35. The shares traded near $39 on Thursday. The 52-week trading range is $33.30 to $191.15.<\/p>\n
Verizon Communications Inc. (NYSE: VZ): MoffettNathanson downgraded it to Underperform from Market Perform and has a $41 price target. Shares traded near $44 on Thursday, in a 52-week range of $43.77 to $55.71.<\/p>\n
World Wrestling Entertainment Inc. (NYSE: WWE): The Buy rating at Northcoast was reduced to Neutral. The 52-week range is $46.81 to $75.23 a share, and the stock was last seen near $71.<\/p>\n \t\t\t\t