Here are some of the tickers on my radar for Wednesday, Oct. 4, taken directly from my reporter’s notebook:
- JPMorgan cuts Meta Platforms (META) price target to $400 per share from $425. Keeps overweight (buy) rating. Capex still high. Advertising should outperform. META is a stock in the CNBC Investing Club portfolio.
- Bank of America raises Club name Alphabet (GOOGL) price target to $146 per share from $142, citing search market share of 91%.
- Club name Ford (F) electric vehicle sales up 14.8% in the third quarter. Overall sales up 7.7%. Truck sales up 15.3%. Barclays sees EV demand increases among consumers worried about higher gas prices.
- Rails’ price targets cut by Barclays: CSX (CSX), Norfolk Southern (NSC) and United Pacific (UNP). Citi deep-sixes all the airlines in a sweeping fashion of price target cuts: American (AAL), Delta Air Lines (DAL), Southwest (LUV) and United (UAL).
- United orders lots of additional Boeing (BA) and Airbus jets.
- PepsiCo (PEP) price target cut to $179 from $198 at Barclays on margin worries. But they could be OK.
- RBC Capital keeps outperform (buy) rating and $460-per-share price target on Domino’s Pizza (DPZ). The modernization efforts will work. Loop Capital, meanwhile, sees Papa John’s (PZZA) recovering.
- Spice maker McCormick (MKC) estimates cut by Bank of America based on gross margin pressure. Fears of trade down. Debt increase. BofA also slashed MKC price target to $86 per share from $100. Stifel much more negative, cutting PT to $70 form $82. I talked Tuesday about how McCormick was starting to look like an attractive at these lower levels.
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- Kitchenware designer Lifetime Brands (LCUT) upgrade to hold from sell at Wells Fargo. The analysts see the company doing well, or at least better than people think.
- Kohl’s (KSS) price target cut to $28 per share from $33 at TD Cowen. The analysts do say they’re impressed with the new CEO.
- Fluor (FLR) upgraded to buy from neutral at UBS. Turnaround not yet complete but getting closer. Stronger pipeline in quantity at the engineering and construction company.
- Another silly defense: Loop says buy cloud company Snowflake (SNOW) because of AI.
- Mizuho sees Coinbase (COIN) missing quarterly revenue estimate by 10%. The analysts see a drought in retail trading of cryptocurrencies.
- Bank of America raises price target on Molson Coors (TAP) to $72 per share from $70. Wells Fargo also bumps up TAP price target to $65. The Club owns Mexican beer giant Constellation Brands (STZ), which reports its quarter before the opening bell Thursday.
- Chipotle Mexican Grill (CMG) price target cut to $2,225 per share from $2,300 at Oppenheimer. Great price move.
Here’s a full list of the stocks in Jim’s Charitable Trust, the portfolio used by the CNBC Investing Club.
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