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As the market begins a new quarter, Bank of America refreshed its list of top picks for the coming months. Here are some of the firm's top picks for the second quarter: Big Tech underperformer Alphabet is one of Bank of America's top 10 picks for the new quarter. The stock added just 8% in the first quarter of 2024 as a series of AI-related blunders bruised investor sentiment. SPOT YTD mountain Spotify shares in 2024 One of the financial stocks featured in Bank of America's top picks list was Citigroup . "A positive inflection in volumes should support low valuation and potentially drive rotation from other consumer staples sub-sectors (Beverages/Household Personal Care) as investors chase underperforming food names," wrote analyst Bryan Spillane.
Persons: Justin Post, Jessica Reif Ehrlich, Ebrahim Poonawala, Kraft Heinz, Bryan Spillane Organizations: Bank of America, Nasdaq, Bank of America's, Microsoft, Google, 2Q, Spotify, Citigroup, Assistance Locations: Thursday's
Wells Fargo raised its price target on Bank of America, now calling for more than 15% upside. Evercore ISI hiked its price target on the consumer products company to $150 per share from $133. Power has a $90 price target on the cloud software stock, implying shares can rally 44.5% in the next year. Forbes' $425 price target implies the stock can climb 43.1% from Wednesday's ending price. Analyst Mike Mayo raised his price target for the bank stock by $4 to $44, implying a 16.4% upside over Wednesday's close.
Persons: Wells Fargo, Clark, Javier Escalante, Escalante, KMB, — Jesse Pound, Jefferies, Portillo's, Andy Barish, Barish, — Brian Evans, Jason Gursky, Wednesday's, shakeup, Gursky, Alex Harring, Baird, William Power, — Alex Harring, Steven Forbes, Forbes, RH, BofA, Cintas, Heather Balsky, Balsky, Robinhood, Alex Markgraff, Markgraff, TD Cowen, John Blackledge, Grindr, Blackledge, It's, it's, Estee Lauder, Bryan Spillane, Spillane, Estee, Tom Ford, Joseph Greff, Greff, FanDuel, Vikram Gandhi, Gandhi, Wells, Bank of America Wells, Mike Mayo, Mayo, Goliath Organizations: CNBC, Bank of America, HSBC, Allstate, Kimberly, Staples, ISI, Citi, Boeing, Alaska Airlines, Dow Jones, UC, Guggenheim, RH's, FactSet, Estee Lauder Bank of America, JPMorgan, Allstate Allstate Locations: Portillo's, Five9, Estee, New Jersey, Wednesday's
If you think chocolate prices this Valentine's Day were more expensive than usual, it's not you. Year to date, futures contracts are up nearly 27%, with cocoa prices rising in six of the past seven weeks. Here's a breakdown of what's driving cocoa prices higher and how it impacts the investment case around two major chocolate stocks. Doshi thinks cocoa prices could sell off about 20%, taking them to around $4,500 to $4,800 per ton. In an interview with CNBC last week, he underscored the rising cocoa price outlook as the key driver for his lower rating.
Persons: Humza Hussain, El, Aakash Doshi, Doshi, Bernstein, Bruno Monteyne, … There's, Mondelez, Alexia Howard, Hershey, Michele Buck, Bernstein's Howard, Howard, I'd, Bryan Spillane, Morgan Stanley, Pamela Kaufman, Bank of America's Spillane Organizations: Asset Management, CNBC, Hershey, Citi, 2H, Street, Bank of America, Bank of, Cadbury Locations: Mondelez, El Niño, Ghana, Ivory, Nigeria, Europe
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailConsumers are still reacclimating to what value is, says BofA's Bryan SpillaneBryan Spillane, Bank of America Securities senior food and beverage analyst, joins 'Squawk Box' to discuss PepsiCo's quarterly earnings results, which reported mixed quarterly results as North American demand for its food and drinks weakened, price sensitivity of consumers, and more.
Persons: BofA's Bryan Spillane Bryan Spillane Organizations: Consumers, Bank of America Securities
Bank of America's top stock ideas for the 4th quarter
  + stars: | 2023-10-02 | by ( Brian Evans | ) www.cnbc.com   time to read: +6 min
Here's what stocks Bank of America is watching for the quarter ahead. Here's what stocks Bank of America is watching for the quarter ahead. Stock Chart Icon Stock chart icon Boeing stock. Stock Chart Icon Stock chart icon CSX Corp stock. Stock Chart Icon Stock chart icon Kraft Heinz stock has declined more than 17% so far in 2023.
Persons: Ronald Epstein, Dave Calhoun, Joseph Hinrichs, Ken Hoexter, Kraft Heinz, Carlos Abrams, Rivera, Bryan Spillane, — CNBC's Michael Bloom, Eduardo Munoz Organizations: of America, Nasdaq, Dow Jones, Bank of America, BofA Securities, Aerospace, Boeing, CSX, Bank of America's, CSX Corp, 3Q, North, Kraft, View, Getty Images Bank of America, Bank of, Bank of America Securities Aerospace behemoth Boeing Locations: U.S, New York
As the new calendar year kicks off, Bank of America is recommending several stocks to bet on in the new quarter. That market volatility is far from over, with Bank of America expecting little upside for the S & P 500 in 2023. Here are some of the stocks included: Consumer discretionary stocks suffered in 2022 as fears of a slowdown in spending loomed. Bank of America expects those tailwinds to continue, projecting more than 12% upside for the Ivory soap maker, compared with Friday's close. Humana was another 2022 outperformer that Bank of America recommends for the first quarter, with shares rallying more than 10% last year.
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