In this article, we will take a look at some of the stocks that have been making headlines recently.
JPMorgan has cut the price target of Meta Platforms (META) from $425 to $400 per share while maintaining an overweight (buy) rating. The bank highlights high capital expenditures but remains optimistic about the company’s advertising performance. Meta Platforms is currently in the CNBC Investing Club portfolio.
Bank of America has raised the price target for Alphabet (GOOGL) to $146 per share from $142, citing the company’s dominance in the search market with a 91% market share.
Club name Ford (F) has seen a 14.8% increase in electric vehicle sales in the third quarter, with overall sales up 7.7%. Barclays predicts further increases in electric vehicle demand due to consumer concerns about rising gas prices.
Barclays has also lowered its price targets for CSX (CSX), Norfolk Southern (NSC), and United Pacific (UNP), all of which are rail companies. Meanwhile, Citi has made sweeping cuts to price targets for American (AAL), Delta Air Lines (DAL), Southwest (LUV), and United (UAL), affecting the entire airline industry.
United Airlines has placed significant orders for additional Boeing (BA) and Airbus jets.
PepsiCo (PEP) has had its price target reduced to $179 from $198 at Barclays due to concerns about profit margins. However, the bank believes that the company may still perform well despite these worries.
RBC Capital maintains an outperform (buy) rating and a $460-per-share price target on Domino’s Pizza (DPZ), with confidence in the company’s modernization efforts. Loop Capital, on the other hand, predicts a recovery for Papa John’s (PZZA).
Bank of America has cut its estimates for spice maker McCormick (MKC) due to pressure on gross margins, fears of consumers trading down, and an increase in debt. BofA has also slashed the price target for MKC to $86 per share from $100, while Stifel has taken an even more negative stance, lowering the target to $70 from $82.
Kitchenware designer Lifetime Brands (LCUT) has been upgraded from sell to hold by Wells Fargo, with analysts expressing optimism about the company’s performance.
Kohl’s (KSS) has had its price target lowered to $28 per share from $33 at TD Cowen. However, the analysts have noted their satisfaction with the new CEO taking charge.
Fluor (FLR) has been upgraded from neutral to buy by UBS, noting that while the company’s turnaround is not yet complete, it is making progress and has a stronger pipeline in terms of projects.
Loop Capital recommends buying cloud company Snowflake (SNOW) due to its utilization of artificial intelligence technology.
Mizuho predicts that Coinbase (COIN) will fall short of quarterly revenue estimates by 10%, attributing this to a decrease in retail trading of cryptocurrencies.
Bank of America has raised the price target for Molson Coors (TAP) to $72 per share from $70, and Wells Fargo has increased its target to $65. The CNBC Investing Club owns Mexican beer giant Constellation Brands (STZ), which is set to report its quarter soon.
Oppenheimer has lowered the price target for Chipotle Mexican Grill (CMG) to $2,225 per share from $2,300.
For a full list of the stocks in Jim’s Charitable Trust, the portfolio utilized by the CNBC Investing Club, please refer to the source article.
– Price target: A projected price level at which an analyst believes a stock will trade in the future.
– Capital expenditures (capex): Funds used by a company to acquire, upgrade, or maintain physical assets such as property, buildings, or equipment.
– Outperform: A recommendation by an analyst to buy a stock because they believe it will perform better than the market average.
– Gross margin: The difference between revenue and the cost of goods sold, divided by revenue, expressed as a percentage.
– Price movement: A change in the price of a stock or asset.
– Market share: The percentage of the total market that is controlled by a particular company or product.
Sources: *Source article*