2 Analyst Calls to Have on Your Radar

BofA Global Research kicked Pfizer off its US1 list

Digital Content Manager
Jan 4, 2023 at 10:45 AM
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Analysts are getting in some key calls early in the new year. Two targets of the brokerage bunch's sentiment shift are Pfizer Inc. (NYSE:PFE) and J B Hunt Transport Services Inc (NASDAQ:JBHT). Below we'll dig into the specifics of these analyst notes, and how these two stocks are faring after the fact. 

Pfizer's Bearish Signal Compounded By Downgrade

Just yesterday, we covered a historically bearish signal that could mean more downside for Pfizer stock into the new year. This signal seems correct so far, and PFE's negative price action is being compounded by a downgrade from BofA Global Research. The analyst cut its rating to "neutral" from "buy," and removed the stock from its US1 list. 

At last check, Pfizer stock was down 3.1% at $49.69, marking a break below long-time support at the 30-day moving average. The general consensus among analysts is still quite bullish, too, which could mean even more downgrades in the near future. Currently, 13 of the 24 in coverage call PFE a "buy" or better. Plus, the 12-month consensus price target of $55.49 is an 11.3% premium to current levels. 

JBHT Looks Promising in 2023

The shares of J B Hunt Transport Services are inching higher after Baird lifted its price target to $200 from $185. The analyst noted several "unique company-specific" growth opportunities amid a weakening demand environment. Baird also maintained its "outperform" rating on the stock, adding that it's reasonably valued right now. 

At last check, JBHT was up 0.7% at $173.82. The stock is struggling to regain support at its 140-day moving average as it comes off a 14.7% decline for 2022. Should analysts follow Baird's lead, though, it could provide additional tailwinds. Right now, 11 of the 27 in coverage call the stock a "hold" or worse. 

 

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