December 1, 2023

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Here are 23 stocks that Jim Cramer is watching, including Meta, Ford, and Chipotle

Here are 23 stocks that Jim Cramer is watching, including Meta, Ford, and Chipotle

Here are some of the indicators I spotted for Wednesday, October 4, taken directly from my correspondent’s notebook:

  • JPMorgan cuts its price target for Meta Platforms (META) to $400 per share from $425. Maintains Overweight (Buy) rating. Capital remains high. Advertising must excel. META is a stock in the CNBC Investing Club portfolio.
  • Bank of America raises its price target on Club Alphabet (GOOGL) to $146 per share from $142, citing a 91% search market share.
  • Club name electric vehicle sales Ford (F) rose 14.8% in the third quarter. Total sales up 7.7% Truck sales up 15.3% Barclays sees an increase in demand for electric vehicles among consumers concerned about rising gas prices.
  • Barclays cut price targets for Rails: CSX (CSX), Norfolk Southern (NSC), and United Pacific (UNP). Citi beats all the airlines in an overall way for target price reductions: American (AAL), Delta Air Lines (DAL), Southwest (LUV), and United (UAL).
  • United is ordering a lot of additional Boeing (BA) and Airbus planes.
  • Cuts price target for PepsiCo (PEP) to $179 from $198 at Barclays on margin concerns. But they can be okay.
  • RBC Capital maintains an Outperform (Buy) rating and $460 price target on Domino’s Pizza (DPZ). Modernization efforts will succeed. Meanwhile, Loop Capital expects Papa John’s (PZZA) to recover.
  • Condiment maker McCormick (MKC) estimates were cut by Bank of America based on gross margin pressure. Fears of a decline in trade. Increased debt. Bank of America also cut its price target for MKC to $86 per share from $100. Stifel is much more negative, cutting PT to $70 from $82. I talked on Tuesday about how McCormick is starting to look attractive at these lower levels.
  • Kitchenware designer Lifetime Brands (LCUT) upgraded to stop selling at Wells Fargo. Analysts believe that the company’s performance is good, or at least better than people think.
  • The price target for Kohl’s (KSS) was cut to $28 per share from $33 at TD Cowen. Analysts say they like the new CEO.
  • Fluor (FLR) was upgraded to Buy from Neutral at UBS. The transformation is not complete yet, but it is getting closer. Quantitatively stronger pipeline in engineering and construction company.
  • Another silly defense: Loop says it bought cloud company Snowflake (SNOW) because of AI.
  • Mizuho sees Coinbase (COIN) missing quarterly revenue estimates by 10%. Analysts see a drought in retail cryptocurrency trading.
  • Bank of America raises its price target on Molson Coors (TAP) stock to $72 per share from $70. Wells Fargo also raised its price target on TAP to $65. The club is owned by Mexican beer giant Constellation Brands (STZ), which is reporting a quarter before the opening bell on Thursday.
  • Chipotle Mexican Grill’s (CMG) price target was cut to $2,225 per share from Oppenheimer’s $2,300. Great price action.
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