Top 10 things to watch on Friday, May 17th
1. Wall Street trended towards sideways on Friday, capping off a strong week that started in earnest on Wednesday following a weaker-than-expected April consumer price index.of S&P 500 And that Nasdaq It set another record during Thursday’s trading, but closed slightly lower.of Dow On Thursday, the number of visitors exceeded 40,000 for the first time in history. But that also ended a little low.
2. applied materials We had great results in the second quarter. I think I’d buy the semiconductor manufacturing equipment maker’s stock because it’s in the right space. JPMorgan raised its forecast, with a price target of $230 to $240 per share. Analysts maintain a Buy rating.
3. reddit It’s being pushed all over Wall Street after the social media site reached a data licensing agreement with OpenAI, the creator of the club’s namesake ChatGPT. microsoft. That’s not surprising given Reddit’s rich dataset. The stock rose more than 10% premarket. Terms of the deal were not disclosed, but analysts at JMP Securities believe data sales could eventually become a $500 million business for Reddit. This company did everything right in the process.
Four. cracker barrel Business performance plummeted after the restaurant chain announced major changes to its brand and operations. The company’s quarterly dividend will be cut from $1.30 to 25 cents a share, freeing up funds to invest in the overhaul. Management expects adjusted earnings growth to begin to fully accelerate in fiscal 2027.
Five. Jeffries upgrades club name dupont The price target is buy from hold at $101 per share, representing a 30% upside from Thursday’s closing price. The recovery in DuPont’s electronics business is a key part of our thesis, and it also informs our more positive view of Jefferies’ stock. Analysts also see multiple paths for the stock to expand.
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6. Bank of America hopes to own club Nvidia It expects to report better-than-expected results next week, but warns that the stock could be volatile in the short term. Reasons include a quarterly slowdown ahead of the launch of next-generation artificial intelligence chips. Analysts maintain a buy rating and $1,100 price target on the stock, making it one of my two “own, don’t trade” stocks. apple the other one is.
7. TD Cowen raises price target TJX companies The stock rose to $120 per share ahead of next week’s earnings report. Analysts say the company, the parent company of TJ Maxx Marshalls & Home Goods, beat same-store sales expectations and could raise its full-year profit outlook. On Thursday, the Wall Street Journal published a fun article about how more billionaires are shopping at TJX stores for deeply discounted designer brands. This “treasure hunt” experience is what we love about this company. We own it for the club.
8. BTIG has been upgraded Darden Restaurants Change the stock rating from hold to buy. The target price is $175 per share. Analysts see a “compelling valuation” for Olive Garden & Longhorn Steakhouse Co. and say investors should place more emphasis on the company’s stock’s annual dividend yield of about 3.5%. ing.
9. JP Morgan lowers target price Dear Shares rose from $425 to $385 on Thursday after the farm equipment maker cut its full-year outlook for the second time in a number of earnings reports. Analysts at TD Cowen, Stifel and Bank of America have conversely raised their price targets. The harsh global agricultural environment is weighing heavily on Deere’s business. Our club has removed Deere from our watch list in response to the revised guidance.
Ten. Mizuho Securities lowers target price of cloud security platform Z scaler From $310 to $240 per share. Analysts believe the business is tougher than expected at this point. Contrarian call. On Thursday, Stifel also lowered Zscaler’s price target from $270 to $220.
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