My Top 10 Scenes to Watch on Friday, December 16, 2022 1. Federal Reserve-led sell-off continues in stocks, but long bonds do nothing. These moves say earnings should decline. But the question is, which ones? As the Fed outlined a more hawkish outlook on Wednesday, the Dow Jones Industrial Average lost more than 900 points in overall declines. 2. Atlantic Equities expects growth in the club’s Estee Lauder ( EL ) holding as China eases Covid restrictions. As we’ve said before, analysts there say the lifting of Covid rules unlocks China’s potential. Atlantic set an Overweight (Buy) rating on EL with a price target of $302 per share. 3. JPMorgan sees AbbVie ( ABBV ) and Club Holding Eli Lilly ( LLY ) in 2023 best in class and top picks in biopharma 2023. From our December “Monthly Meeting” on Thursday, here’s a quick update on all 33 stocks in our portfolio. 4. Meta Platforms ( META ) has the worst behind it, says JPMorgan, which upgrades Club holdings to overweight (buy) and raises its price target to $150 a share from $115. Big Tech has had a rough year. But we are commenting on the reasons we are continuing for now. 5. Apple’s (AAPL) club holding has been named a top tech pick by Evercore ISI. Analysts there said “China’s supply chain headwinds are likely to be transitory.” 6. Advent International to buy Maxar Technologies (MAXR) for $53 a share, or about $4 billion, a more than 120% premium to Thursday’s close, and that’s reflected in premarket trading. Maxar has more than 90 satellites in orbit serving customers from the US government to SiriusXM ( SIRI ). 7. Accounting firm Mazars Group has stopped working with crypto clients, according to crypto exchange Binance. “Unfortunately, this means we will not be able to work with Mazars at this time,” Binance told CNBC. 8. Barclays raises price target on General Electric ( GE ) to $96 a share from $92 before the healthcare spin-off. From industrials, we like Emerson Electric ( EMR ). The club opened positions on Wednesday and bought more on Thursday. 9. Goldman Sachs likes United Airlines ( UAL ) and Delta Air Lines ( DAL ); sees recovery tails. Resumes coverage with both buy ratings and price targets of $51 and $40 per share, respectively. 10. Nike (NKE) price target at Credit Suisse from $110 to $122 per share; maintains an outperform (buy) rating. Marks as mandatory equity. (Jim Cramer’s Charitable Trust is long EL, LLY, META, AAPL, and EMR. See the full list of stocks here.) As a subscriber to the CNBC Investing Club with Jim Cramer, you’ll receive a trade alert before Jim makes a trade; Jim waits 45 minutes after sending a trade alert before buying or selling a share in his charitable trust portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after the trade alert has been issued. INFORMATION ON THE INVESTMENT CLUB IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY WITH OUR DISCLAIMER. NO FIDUCIARY OBLIGATION OR OBLIGATION EXISTS OR IS CREATED WITH RESPECT TO YOUR OBTAINING INFORMATION PROVIDED WITH INVESTOR CLUB. NO SPECIFIC RESULTS OR PROFITS ARE GUARANTEED.
My Top 10 Views Friday, December 16, 2022
1. Federal Reserve-led sell-off continues in stocks, but long bonds do nothing. These moves say earnings should decline. But the question is, which ones? As the Fed outlined a more hawkish outlook on Wednesday, the Dow Jones Industrial Average lost more than 900 points in overall declines.
2. Atlantic Equities expects growth in Club holding Estee Lauder (EL) to accelerate as China eases Covid restrictions; As we’ve said before, analysts there say the lifting of Covid rules unlocks China’s potential. Atlantic set an Overweight (Buy) rating on EL with a price target of $302 per share.
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