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There appears to be an economic rebound taking place — and history shows ways to play it in the market, according to Bank of America. "It's official: we're in a Recovery," wrote strategist Savita Subramanian in a note to clients Sunday. An average recovery lasts nine months, though shorter durations seen in recent history raise concern that this one may not have staying power, she said. Still, the average analyst has a hold rating on the stock, according to LSEG. The average analyst has a hold rating on the stock, but price targets imply an upside of more than 7% on average.
Persons: Savita Subramanian, Subramanian, FactSet, Piper Sandler, John Barnidge, Barnidge, AIZ, Newell, Canaccord, Brian McNamara, McNamara, Molson Coors, Bud, Invesco, — CNBC's Michael Bloom Organizations: Bank of America, Wall, Newell Brands, LSEG, destocking, Anheuser, Busch InBev, Bud Light, TAP BUD, Molson Coors, Busch Inbev, Molson, ZOA Energy Locations: U.S
Goldman Sachs upgrades Devon Energy to buy from neutral Goldman said the energy company's valuation is attractive. Morgan Stanley initiates BAE Systems as buy Morgan Stanley said the aerospace and defense company has an "attractive capital deployment policy." Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it expects Tesla to build a "full-scale captive financing subsidiary as the market matures." Morgan Stanley upgrades Urban Outfitters to overweight from equal weight Morgan Stanley said in its upgrade of the stock that it has an attractive valuation. Goldman Sachs reiterates FedEx as buy Goldman said it's standing by its buy rating on FedEx heading into earnings next week.
Persons: it's bullish, Goldman Sachs, Goldman, Salesforce, Piper Sandler, Piper, AIZ, Morgan Stanley, Canaccord, Roblox, Stone, Tesla Organizations: Bank of America, Netflix, Devon Energy, PayPal, JPMorgan, Deutsche Bank, Deutsche, BAE Systems, HSBC, Stone, Urban, Oracle, FedEx, UBS, Apple Locations: Devon
The biggest week of this earnings season showed us that things aren't as bad as many feared. The week ahead of earnings, including several more Club names, should tell us more. The results are always important, but it's the guidance and management commentary we will really hone in on to better understand the path ahead. In Amazon's case, a solid first quarter for its AWS cloud business was overshadowed by management seeing a material slowdown in April. ET: Nonfarm Payrolls Looking back It was the biggest week of this earnings season for the Club as several of our mega-cap holdings and industry bellwethers reported results.
Earnings season continues next week, with Club holdings Linde (LIN), Emerson Electric (EMR) and Walt Disney (DIS) all set to report. Similarly, shares of Meta Platforms (META) have surged over 20% since CEO Mark Zuckerberg reassured investors Wednesday evening that 2023 would be the technology giant's "year of efficiency." The bull case is further supported by continued signs inflation is easing, a still-robust job market and the breadth of market-buying activity since the start of the year. Lastly on Wednesday, the Fed's Federal Open Market Committee raised the federal funds rate by 25 basis points, in line with expectations. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
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