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Futures were higher on Thursday after a solid Wednesday that saw all major indices finish higher. The song remains the same as investors and Wall Street await Federal Reserve Chairman Jay Powell’s speech at the Jackson Hole Economic Symposium. Recently, there has been talk among top strategists that Powell will remain hawkish and push back on any change in Fed policy for the foreseeable future. Others say Powell may discuss slowing the pace of tightening, fearing too much will push the economy into a deep recession.

Sellers were back in the Treasury market on Wednesday. Yields rose along the curve and the benchmark 10-year bond was solid above the 3% mark to close at a yield of 3.11%. The inversion with the two-year note held as it closed at 3.40%. Here, too, many bond market experts see the inversion as a harbinger of inflation.

Both Brent and West Texas Intermediate crude were up 1% on Wednesday, with Brent reclaiming the $100 mark. Natural gas closed higher, rallying to close at $9.33 after trading lower for most of the day. The commodity had a massive run that briefly propelled the price above $10 this week, which has not happened since 2008. Both gold and bitcoin closed higher on the day.

24/7 Wall St. reviews dozens of analyst research reports every day of the week with a goal of finding new ideas for investors and traders alike. Some of these daily analyst calls are for stocks to buy. Other calls are related to stocks to sell or avoid. Remember that a single analyst call should never be used as the basis for buying or selling a stock. Consensus analyst target data is from Refinitiv.

These are the top analyst upgrades, downgrades, and initiations seen on Thursday, August 25, 2022.

Advance Auto Parts Inc. (NYSE: AAP): Goldman Sachs kept a Buy rating with a price target of $219 after the company announced second-quarter earnings and lower estimates. The consensus target stands at $222.06. The stock closed at $179.91 on Wednesday, down nearly 10% for the day on the poor results.

Arista Networks Inc. (NYSE:ANET): Deutsche Bank initiated coverage with a hold rating and a target of $135. The consensus target is $149. Wednesday’s closing price was $125.63.

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Bank of Nova Scotia (NYSE: BNS): BMO Capital Markets downgraded shares from Outperform to Market Perform with a target of $95. Consensus target is lower at $68.36. The stock closed at $57.86 on Wednesday.

Benchmark Electronics Inc. (NYSE: BHE): Fox Advisors began coverage with an Overweight rating and a price target of $35. The $35.33 consensus is on the line and Wednesday’s close was $27.94.

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