My top 10 things to watch Tuesday, June 18
- 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.
- 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.
- 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%.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
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