Jim Cramer shares 10 things to watch in the stock market on Friday

1. The stock market on Friday S&P 500 and Nasdaq It closed at a record high the previous day. The Dow Jones Industrial Average is down this week, but the S&P and Nasdaq are having a strong week following two encouraging inflation reports.
2. Adobe The stock surged after the company reported an unusually high quarterly profit that combined highs and lows, a standout performance after its shares had fallen in recent months, and the company also raised its full-year earnings outlook.
3. Club name target price rises Broadcom The stock’s rally continued after the chipmaker reported strong quarterly earnings on Wednesday night. Three Wall Street banks followed suit with similar increases: Deutsche Bank ($1,500 to $1,900), Citigroup ($1,560 to $1,750) and Baird ($1,500 to $1,950). All three maintained their buy ratings. In a member’s article, we outlined three reasons why we expect Broadcom’s stock to continue to rise.
4. Piper Sandler gets downgraded Huntington Bankshares From hold to sell equivalent rating. Wow. The Ohio-based regional bank is in the penalty box after lowering its outlook for net interest income, a key metric in the banking industry, earlier this week. After dropping nearly 8% over the past four sessions, shares are back on the decline on Friday.
5. Target share price cuts continue Darden Restaurant The companies are due to report their fourth-quarter earnings next Thursday morning. Barclays cut its price to $180 from $187, and Stevens cut its price to $165 from $170. These are at least the fifth and sixth stocks to lower Darden’s PT this week. Olive Garden should be pretty weak. It also owns chains like Longhorn Steakhouse and Yard House.
6. Bank of America reinstates club-retained insurance Kotera Energy With a buy recommendation and price target of $34 a share, the stock is looking at an upside of more than 25% from Thursday’s closing price.Cotera’s substantial exposure to natural gas is finally a plus for the producer after a disastrous decline in commodity prices earlier this year.Cotera CEO Thomas Jorden explained to me on “Mad Money” earlier this week how the company stands to benefit from the artificial intelligence boom.
7. Morgan Stanley downgrades Twilio The stock was upgraded to the equivalent of a hold from an overweight rating on the possibility that consumer health could hurt the communications software maker. The company’s new price target was cut to $60 per share from $70, suggesting upside of less than 8% based on Thursday’s closing price. Twilio is the enterprise software stock that nobody needs.
8. Career Global“Carrier is a really great company. The stock’s target price was raised by Barclays to $81 per share from $79, which represents a rise of more than 26% from Thursday’s closing price. Analysts believe that among U.S. HVAC suppliers, Carrier will benefit the most from the growing global adoption of HVAC systems.
9. Tesla The electric-car maker’s shares rose again Friday, on track for a third straight day of gains, after shareholders voted to reinstate CEO Elon Musk’s $56 billion compensation package. A reinvigorated Musk offers exciting potential.
10. Loop Capital has raised its target price for the club name Costco The stock has risen to $940 a share from $890, and analysts have expressed optimism about the membership retailer’s leverage potential. The firm also noted that Costco had strong same-store sales in May. Earlier this week, we discussed for club members how Costco’s online expansion could affect the company’s stock price.

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