Freight Gets a Lift, FedEx Takes a Hit

Citigroup made the boldest sector call of the day. Analyst Ariel Rosa upgraded both ODFL and CHRW to Buy from Hold. Old Dominion's new target is $223. C.H. Robinson gets a $185 target. It is a clear bet on a freight recovery.

FDX got the opposite treatment. JP Morgan's Brian Ossenbeck cut his target on FedEx from $460 to $400. He kept a Buy rating. That is still a $60 drop — a 13% target price reduction on a stock with a $76 billion market cap.

HOOD was a bright spot. Jefferies raised its target on Robinhood from $127 to $140. The fintech firm now carries a $97 billion market cap. Short interest is a modest 4% of free float.

INTC earned a rare upgrade. Northland Capital Markets lifted Intel to Buy from Hold, setting a $120 target. Intel's market cap has climbed back above $500 billion. The turnaround thesis is gaining fresh Wall Street support.

ABNB also got a boost. Raymond James analyst Josh Beck upgraded Airbnb to Buy, setting a $200 target. The consensus on Airbnb remains mixed, with 26 analysts still holding a Sell rating.