July 21, 2024

My top 10 things to watch Tuesday, June 18

  1. Markets are poised for a subdued open Tuesday following a strong rally Monday to record highs. May retail sales came in weaker than expected, up 0.1% on the month compared with the 0.2% expected.
  2. JPMorgan boosted its price target on shares of Apple to $245 each from $225 after the firm raised iPhone volume expectations in 2025 and 2026 due to artificial intelligence upgrades. We have been saying for months that Apple’s upcoming AI-infused devices should drive a major upgrade cycle.
  3. More price-target hikes for Nvidia: Wells Fargo went to $155 a share from $125 at Wells Fargo while Rosenblatt Securities went to $200 from $140. Over the past month, the leading AI chipmaker’s stock is up nearly 40%.
  4. Piper Sandler called the sell-off in Celsius Holdings overdone and reiterated its $90 price target and buy-equivalent rating. Shares of the energy drink maker are down 11.7% over the past five days and 37.2% over the past month.
  5. BMO Capital Markets upgraded Kroger to a buy-equivalent rating while bumping up its price $60 a share from $58. That implies 17.5% upside from the stock’s close Monday. The analysts called Kroger an attractive investment with or without the Albertsons acquisition, which has faced pushback from U.S. antitrust regulators.
  6. Shares of Merck climbed higher after the Food and Drug Administration approved its pneumococcal conjugate vaccine (PCV). Investors are now turning their focus to a meeting next week of a CDC advisory committee, which analysts say will help determine the usage of Merck’s vaccine.
  7. Micron was added to Bank of America’s so-called “US 1 List.” Meanwhile, Stifel increased its price target on the memory chipmaker’s stock to $165 a share from $145 ahead of earnings June 26. Micron is up 73% year to date.
  8. Lennar reported better-than-expected earnings per share of $3.38 versus the $3.23 estimate. However, the Miami-based homebuilder’s guidance on new orders and gross margin slightly missed consensus, putting pressure on the stock.
  9. Piper Sandler lifted its AbbVie price target to $190 a share from $185, with analysts citing two positive U.S. gastroenterologist surveys to help support their optimistic outlook on the stock. Sales erosion for Humira is accelerating in the U.S., the firm wrote, but a lot is expected to be made up for by other Abbvie drugs Skyrizi and Rinvoq.
  10. Netflix‘s price target raised to $750 a share from $700 by analysts at Loop Capital. The analysts think a subscription price increase is coming this year ahead of Netflix’s first-ever Christmas NFL games.

Sign up for my Top 10 Morning Thoughts on the Market email newsletter for free

(See here for a full list of the stocks at Jim Cramer’s Charitable Trust.)

What Investing Club members are reading right now

As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, TOGETHER WITH OUR DISCLAIMER.  NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.  NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.

link

Leave a Reply

Your email address will not be published. Required fields are marked *