Stocks fall, retail prices rise

news7g02/06/2023

3 5 minutes read

My 10 Most Watched Things Monday, February 6 1. Goldman Sachs’ David Kostin offers common sense, much-loved: Fed engineers soft landing, and it’s already priced in above market. So sell stocks and buy short paper for high yield because that will work? Looks like it…at least to start the week. The Dow, S&P 500 and Nasdaq on Monday are on track to add to Friday’s sharp jobs-led decline. 2. Credit Suisse raises Estee Lauder (EL) price target to $305 per share from $215. This is a catch-up for this Club, which has been growing steadily since November. Most recently, aided by China’s withdrawal of Covid-19 and the reopening of its economy. Here’s a quick update on all 34 stocks in my Charity Trust. Also, my blueprint to change your mind about this new bull market. 3. JPMorgan raises its target price for TJX Companies Club (TJX) stock from $90 to $95 per share; holds an overweight (buy) rating for the discount retailer behind TJ Maxx, Marshalls, and HomeGoods. Analysts at JPMorgan also made similar moves for rival TJX’s Burlington Stores (BURL). 4. Raymond James downgrades Coterra Energy (CTRA) to market performance from better (keep from buy). Analysts see a strong balance sheet but cite drag from the collapse of natural gas, which accounts for about 50% of the business the Club is holding. 5. Bernstein upgraded Diageo (DEO) to outperform market performance (buy from hold) and raised price target to $225/share from $215. Analysts see compelling value, a big driver for the company behind brands like Johnnie Walker whiskey, Ketel One vodka and Guinness beer. For the Club, we like and own the Constellation Brands (STZ) of the Mexican beer powerhouse. 6. Barclays lowered its Clorox (CLX) price target to $2/share to $110; keep undervalued (sell). Analysts still hate it, even after a good quarter. In consumer staples, we own Procter & Gamble (PG). It’s good to have a recession-proof stock in a diversified portfolio. 7 . Dell Technologies (DELL) cut 6,650 jobs, reflecting the struggle in the personal computer sector. Rival HP Inc. (HPQ) has also announced up to 6,000 job cuts. 8. Public Archives (PSA) offers $11 billion bid to rival Life Storage (LSI). The offer puts a premium close to 8% on Friday’s LSI close, which is reflected in Monday’s early trading. 9. Baird raises price target on Regeneron (REGN) to $756/share from $670; keep rating keep neutral. Dupixent works fine. Panacea? Treatment of eczema and asthma. Canaccord PT to $853 from $750; Continue to buy. RBC Capital reduces PT to $787 from $789; keep industry (hold) performance ratings. 10. T-Mobile (TMUS) downgraded by MoffettNathanson to market performance from better (keep from buy); keep a price target of $174 per share. The downgrade was surprising because analysts loved it. (Jim Cramer Long Term Charitable Trust EL, TJX, CTRA, STZ, PG. See here for a full list of stocks.) As a CNBC Investment Club subscriber with Jim Cramer, you will receive a trade alert before Jim makes a decision. trade. Jim waits 45 minutes after sending the trading notice before buying or selling shares in his charity’s portfolio. If Jim had talked about a stock on CNBC, he would have waited 72 hours after issuing a trading warning before taking a trade. INFORMATION ABOUT THE ABOVE INVESTMENT CLUB IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, PLUS OUR DISCLAIMER. NO PROCEDURE RESPONSIBILITIES OR OBLIGATIONS ARE existent, OR GENERAL, BECAUSE OF YOUR RECEIVING OF ANY INFORMATION PROVIDED IN RELATED TO THE INVESTMENT CLUB. NO SPECIFIC RESULTS OR PROFITS GUARANTEED.

My Top 10 Things to Watch for Monday, February 6

first. Goldman Sachs’ David Kostin offers the conventional wisdom, much loved: Fed engineers soft landing and it’s already priced in the market. So sell stocks and buy short paper for high yield because that will work? Looks like it…at least to start the week. The Dowthe S&P 500 and Nasdaq on Monday is on track to add to Friday’s sharp decline in jobs.

2. Credit Suisse increases Estee Lauder (EL) price target from $215 to $305 per share. This is a catch-up call for this Club, which has been growing steadily since November. Most recently, aided by China’s withdrawal of Covid-19 and the reopening of its economy. this is a Quick update on all 34 stocks in my charity trust. Also, my blueprint for change your mind for this new bull market.

3. JPMorgan raises price target on Club stock Company TJX (TJX) from $90 to $95 per share; holds an overweight (buy) rating for the discount retailer behind TJ Maxx, Marshalls, and HomeGoods. Analysts at JPMorgan have a similar move on rival TJX Burlington Store (BURL).

4. Raymond James downgraded Coterra Energy (CTRA) for better market performance (keep from buy). Analysts see a strong balance sheet but cite drag from the collapse of natural gas, which accounts for about 50% of the business the Club is holding.

5. Bernstein upgrade Diageo (DEO) to outperform the market (buy from hold) and raise the target price to $225 per share from $215. Analysts see compelling value, a big driver for the company behind brands like Johnnie Walker whiskey, Ketel One vodka and Guinness beer. For the Club, we like and own the Mexican beer powerhouse constellation brand (STZ).

6. Barclays down clorox (CLX) price target of $2 per share to $110; keep undervalued (sell). Analysts still hate it, even after a good quarter. In consumer staples, we own Procter & Gambling (PG). It’s good to have a recession-proof stock in a diversified portfolio.

7. Dell Technology (DELL) cut 6,650 jobs, reflecting the struggle in the personal computer sector. competitor HP Corporation(HPQ) has also announced up to 6,000 job cuts.

8. Public Archives (PSA) makes $11 billion bid for rival Life Archives (LSI). The offer puts a premium close to 8% on Friday’s LSI close, which is reflected in Monday’s early trading.

9. Baird raises price target above regeneration (REGN) to $756 per share from $670; keep rating keep neutral. Dupixent works fine. Panacea? Treatment of eczema and asthma. Canaccord PT to $853 from $750; Continue to buy. RBC Capital reduces PT to $787 from $789; keep industry (hold) performance ratings.

ten. T Mobile (TMUS) downgraded by MoffettNathanson to market performance from better (hold from buy); keep a price target of $174 per share. The downgrade was surprising because analysts loved it.

(Jim Cramer Long Term Charitable Trust EL, TJX, CTRA, STZ, PG. See This for a complete list of stocks.)

As a subscriber to CNBC’s Investment Club with Jim Cramer, you’ll receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending the trading notice before buying or selling shares in his charity’s portfolio. If Jim had talked about a stock on CNBC, he would have waited 72 hours after issuing a trading warning before taking a trade.

INFORMATION OF THE ABOVE INVESTMENT CLUB IS OUR DEPARTMENT TERMS AND CONDITIONS AND PRIVACY POLICYACCOUNTING WITH US DISCLAIMER US DISCLAIMER. NO PROCEDURE RESPONSIBILITIES OR OBLIGATIONS ARE EXISTED, OR CREATED, BECAUSE OF YOUR RECEIVING OF ANY INFORMATION PROVIDED IN RELATED TO THE INVESTMENT CLUB. NO SPECIFIC RESULTS OR PROFITS GUARANTEED.