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Alcoholic beverage company Diageo will see limited upsides ahead, says Goldman Sachs. "With muted growth in the US, we see limited positive catalysts for Diageo and thus limited scope for earnings upgrades for the group," said Nicolaï. To be sure, he noted that if the company's U.S. market share gains accelerated, the company could strongly outperform the rest of the market. Goldman expects negative worsening volume trends and a weaker pricing outlook for U.S. spirits wholesalers over the next six months. The firm noted that "the secular premiumization trend is expected to be on hold after strong gains in 2020–2022."

Persons: Goldman Sachs, Oliver Nicolaï, Nicolaï, Goldman, — CNBC's Michael Bloom Organizations: Diageo Locations: U.S, FY23e

It's time to buy Domino's Pizza, according to Stifel. O'Cull thinks that "over the next 12 months, the company will stabilize delivery sales and continue growing carryout sales to new record levels. The analyst pointed out that Domino's shares have "performed poorly since 2021 as delivery sales have declined." "Carry-out sales should continue to be a significant growth opportunity," O'Cull said. Domino's shares were up 2% Thursday during premarket trading.

Persons: Chris O'Cull, O'Cull, — CNBC's Michael Bloom

"Patience should be rewarded," Morgan Stanley said about T-Mobile shares. Analyst Simon Flannery maintained his overweight rating on shares, while increasing his price target by $1 to $178. The company offers investors low leverage, strong FCF generation, a recurring revenue model, network leadership, growing market share and reasonable valuations," Flannery wrote in a Thursday note. Flannery noted temporary headwinds from wholesale traffic off-loading by DISH and Verizon are temporary headwinds to T-Mobile shares. The company's ability to outperform the sector may become harder as it gains more market share, he added.

Persons: Morgan Stanley, Simon Flannery, Flannery, Michael Bloom Organizations: Mobile, Iridium, Verizon

Citi says it has "greater conviction" in Corning 's margin recovery potential. Analyst Asiya Merchant upgraded the glass maker's shares to buy from neutral. She also raised her price target to $40 from $36, implying shares rallying more than 20% from Wednesday's close. A 20% price increase in the company's display segment offerings will help offset incremental costs and foreign exchange headwinds, helping the company's margin expansion targets, the analyst said. Merchant noted near-term demand recovery in the optical market remains uncertain.

Persons: Asiya, Merchant, — CNBC's Michael Bloom Organizations: Citi, Asiya Merchant, Auto Locations: Corning, Wednesday's

While Wall Street debates whether the S & P 500 is truly out of a bear market, these individual stocks are in bull market territory. CNBC Pro screened for the stocks in a true bull market that fall under the following criteria: S & P 500 or Russell 1000 member. Made a new 52-week high Tuesday. Shares have gained more than 10% in 2023 and may rally an additional 7.6%, according to its average price target. The stock's average price target suggests shares could rally 18.6% from Tuesday's close.

Persons: hasn't, Russell, — CNBC's Michael Bloom Organizations: CNBC Pro, Apple, Semiconductor, Applied Materials, Semiconductors, Materials, Walmart Locations: Tuesday's

Biogen — Shares of the biotech stock dipped 2.8% after Biogen revamped its board of directors. Oracle — Shares rose 0.2% to an all-time high on the back of a strong earnings report for the fiscal fourth quarter. Oil stocks — Oil shares rose broadly as WTI crude gained following Monday losses. Chinese internet stocks, metals and mining stocks — Shares of Chinese internet companies and metals and mining stocks jumped Tuesday after the People's Bank of China cut a key short-term policy rate in an effort to stimulate a post-Covid recovery. Metals and mining stocks were also boosted by the news, with shares of Freeport-McMoRan and Steel Dynamics rallying 5.3% and 6%, respectively.

Persons: Susan Langer, Biogen, Refinitiv, Goldman Sachs, Morgan Stanley, Transocean, JD.com, —, Samantha Subin, Sarah Min, Alexander Harring, Jesse Pound, С. Organizations: Biogen, Oracle, Revenue, Cruise Line Holdings, Bank of America, Royal, Urban Outfitters, Devon Energy, —, VanEck Oil Services, Halliburton, People's Bank of, CSI China, Metals, Steel Dynamics Locations: China, Gu'an, Royal Caribbean, Devon, Salt Lake City, People's Bank of China, Freeport, McMoRan

The S & P 500 's recent rally has many investors convinced the bear market is drawing to a close, but Citi's Scott Chronert isn't convinced. Chronert, U.S. equity strategist at Citi, isn't buying the rally. He is maintaining his full-year S & P 500 target of 4,000 as he forecasts a pullback in the second half of 2023. According to CNBC Pro's Market Strategist Survey , Barclays, Morgan Stanley and UBS are forecasting the broad market index to fall below 4,000 at year-end. His base case for the S & P 500 forecasts a mid-year 2024 target of 4,400.

Persons: Citi's Scott Chronert isn't, Morgan Stanley, Chronert, — CNBC's Michael Bloom Organizations: Citi, CNBC Pro's, Survey, Barclays, UBS Locations: U.S

In the last few years, however, this outlook has changed to "Tesla, BYD , and everyone else," according to Evercore. Chinese EV-manufacturer BYD sold more NEVs, or new energy vehicles, in 2022 than Tesla. Evercore noted that BYD's sales guidance for China in 2023 could potentially exceed the total EV sales in the U.S. and EU combined from 2022. "In many respects, such as battery and commercial vehicle platforms, BYD is already leading TSLA & others. Correction: Chinese EV-manufacturer BYD sold more NEVs, or new energy vehicles, in 2022 than Tesla.

Persons: Tesla, BYD, Evercore, Chris McNally, Warren Buffett, Charlie Munger's Berkshire Hathaway, Munger, McNally, — CNBC's Michael Bloom Organizations: EV, EU Locations: China, U.S, BYD, Berkshire, Omaha, Europe, EU, Thailand

Amid "continued demand momentum" for the cruise industry, JPMorgan is bullish on Carnival . The bank upgraded the cruise liner's shares to overweight from neutral in a Monday note. Analyst Matthew Boss also raised his price target to $16 from $11, implying more than 22% upside from Friday's close. Boss underscored Weinstein's comments that Carnival is "no longer riding the coattails of a post-pause pent-up." "On the top-line, we came away confident in current trends with all three management teams," Boss said.

Persons: Matthew Boss, Boss, Josh Weinstein —, —, — CNBC's Michael Bloom Organizations: JPMorgan, CCL

Wolfe Research thinks software company Oracle has a strong growth story thanks to the generative AI boom. The analyst said Oracle has created a significant second mover "architectural and cost advantage" around its second-generation Oracle Cloud Infrastructure — which its competitors are unable to match. Notably, Oracle's cloud software has spare GPU, or graphics processing unit, capacity. GPUs are necessary to process AI functions and have seen a surge in demand as more companies engage in AI. Growth has also been strong over a 12-month period, with shares gaining more than 63%.

Persons: Wolfe, Alex Zukin, Zukin, CY25, Oracle, Michael Bloom Organizations: Wolfe Research, Oracle, Oracle Cloud Infrastructure, Infrastructure Locations: GenAI

The bank hiked its price target to $154 from $139, which implies 24.7% upside from where shares closed on Friday. "We were encouraged by CEO commentary that retail margins could improve beyond pre-pandemic levels (4-5% in US)," wrote analyst Justin Post. "In 1Q, Amazon US retail margins were up 340bps y/y, one of the best quarters in the company's history for y/y margin improvement," Post added. Post thinks that, based on margin improvement year-to-date, metrics showing strong leverage and management's commentary, Amazon's 2024 U.S. retail margins could reach a range of 4% to 5%. The analyst noted that a 22% year-over-year decline in U.S. retail gasoline prices should aid retail margin improvement.

Persons: there's, Justin Post, Andy Jassy's, Amazon's, — CNBC's Michael Bloom Organizations: Bank of America, Amazon, Shipping

Despite recent execution blunders that have sent SentinelOne shares plunging by more than 35% over the past 12 months, Morgan Stanley thinks the market is now mispricing the cybersecurity company. Analyst Hamza Fodderwala upgraded shares to overweight from equal weight. The bank said SentinelOne has inherent value as a "long-term share gainer" with the potential for meaningful margin upside. The company's management execution has significantly weighed upon its material topline slowdown, according to Morgan Stanley. That said, Fodderwala thinks SentinelOne offers "a market-leading product and growing distribution channels" which could see more than 20% durable topline growth.

Persons: Morgan Stanley, Hamza Fodderwala, SentinelOne, Fodderwala, —, Michael Bloom

ET, the yield on the 10-year Treasury was up by more than 4 basis points to 3.755%. The 2-year Treasury yield was trading more than 4 basis points higher at 4.566%. U.S. Treasury yields rose on Friday as investors looked ahead to the Federal Reserve monetary policy meeting next week, where officials will announce a fresh interest rate decision. Investors weighed what could be next for interest rates ahead of the Fed's next meeting on June 13 and 14. Further data points are expected before the Fed makes its decision, including May's consumer inflation report on Tuesday.

Organizations: Treasury, U.S, Federal Reserve, Labor Department, Fed

Solar investment could reach a turning point in 2023, and some stocks are well-positioned to benefit from the boom. In the U.S., the Inflation Reduction Act is expected to lead to $600 billion in new investment in solar technology, according to the Solar Energy Industries Association. More than 62% of analysts are bullish on the home solar energy company. ReNew Energy's average price target suggests shares rallying 47% in the coming months. The residential solar energy provider could see shares surge almost 90%, according to its average price target.

Persons: Michael Grubb, Grubb, Morgan Stanley Organizations: International Energy Agency, University College London, Bank, Development, Solar Energy Industries Association, CNBC Pro, Nasdaq, York Stock Exchange, Energy, Energy Global, Sunnova Energy Locations: U.S, India

Higher rates and overhangs from this year's banking crisis will drastically slow economic growth for the biggest global economies, the World Bank said Tuesday. U.S. GDP growth is expected to decelerate in 2024 to 0.8% as high interest rates further weigh on growth. The bank estimates overall global growth will decelerate to 2.1% in 2023, down from 3.1% in 2022. However, World Bank chief economist Indermit Gill said excluding China, growth in developing economies would be less than 3%. This marks "one of the weakest growth rates in the last five decades," Gill told reporters Tuesday.

Persons: Indermit Gill, Gill Organizations: World Bank Locations: Japan, U.S, China

There's a burgeoning bull case for Saudi Arabia stocks. The iShares MSCI Saudi Arabia ETF (KSA) is up more than 8% year to date and almost 20% over a three-year period. The MSCI Saudi Arabia Index is composed of almost 45% in financials, followed by 22.1% in materials, mostly consisting of petrochemicals groups. More foreign investment The kingdom's Vision 2030 economic blueprint aims to raise foreign direct investment contributions to 5.7% by 2030 from 0.7% currently . Another fund that does this is the Franklin FTSE Saudi Arabia ETF (FLSA) .

Persons: Morgan Stanley, Carlos Asilis, Ramzi Sidani, — it's, they've, It's, Andrew Miller, Miller, Glovista's, HSBC's Sidani, Mondrian, — CNBC's Michael Bloom Organizations: Glovista Investments, JPMorgan —, HSBC's Global Research, Saudi, HSBC's Frontier Equity, United Arab Emirates, Mondrian Investment Partners, Franklin FTSE, Franklin FTSE Saudi Arabia, Aramco, Al, Al Rajhi Bank Locations: Saudi Arabia, Saudi, Russia, Ukraine, East, Korea, Australia, Chile, Poland, financials, Qatar, Franklin FTSE Saudi, Al Rajhi

The S & P 500 is up 1.8% week to date, on pace for a third consecutive week in the green. Cruise companies Royal Caribbean and Norwegian Cruise Line also had a strong week, gaining 7.8% and 9.3%, respectively. The consensus price target for shares implies just 7.2% additional upside, per FactSet data. Another cruise line on the list is Carnival , which saw shares rise 6.7% week to date. Dish could soar an additional 124.1% based off the average price target on shares.

Organizations: Dow Jones Industrial, Nasdaq, Match, Cruise, Royal, Royal Caribbean, Dish, Bloomberg News, Enphase Energy, Intel, Netflix, Digital Realty Trust Locations: Royal Caribbean

Goldman Sachs released its list of high conviction stocks — with a new twist. What makes this list unique from the typical top picks list is that members of Goldman's Investment Review Committee were the ones choosing the names, adding a second layer of analysis. Take a look at some of the names that made the list, and where Goldman sees them going forward. Goldman expects shares to have 42% upside over the next 12 months. The tech giant's scale, platform breadth, category diversification and end-market exposure will further fuel its upside opportunity in the years ahead, according to Sheridan.

Persons: Goldman Sachs, Steven Kron, Goldman, Kate McShane, Chris Shibutani, Eric Sheridan, Brett Feldman, Max —, — CNBC's Michael Bloom Organizations: Goldman's Investment, Pharmaceutical, Merck, Goldman, Amazon, Services, Warner Bros, HBO Max Locations: Sheridan, WarnerMedia

Macy's also slashed its full-year earnings and sales guidance, after "demand trends weakened" for discretionary items in March. Dollar General — Shares tumbled 9% after the company reported an earnings and revenue miss for the first quarter. The lingerie retailer reduced its full-year revenue guidance in the low-single digits range from the prior mid-single digit range estimates. Veeva also raised its full-year earnings per share guidance by 26 cents. The company's full-year revenue guidance also topped analysts' estimates.

Persons: Nordstrom, Nordstrom's, Salesforce, Okta, Okta's, Macy's, CrowdStrike's, Refinitiv, Veeva, Macheel, Samantha Subin, Jesse Pound, Michelle Fox Organizations: BMO Capital, Saudi Arabia's Public Investment Fund, Chewy, —, JPMorgan, CSX, UBS, Systems Locations: New York City, Canada

Now is the time to buy SeaWorld shares, according to Goldman Sachs. Analyst Lizzie Dove initiated coverage on the Florida theme park with a buy rating. Despite investor caution on park stocks amid an uncertain macro environment, Dove said the risk has already been priced into shares. The analyst cited SeaWorld's high exposure to the growing Orlando market, which she noted gives it admissions pricing power. Dove added the park could struggle to increase its staffing due to its lower hourly wage compared to its competitors.

Persons: Goldman Sachs, Lizzie Dove, Dove, — CNBC's Michael Bloom Organizations: SeaWorld, Disney, Universal Locations: Florida, Tuesday's, Orlando

Sovos Brands , which owns the pasta sauce brand Rao's, is "full of pasta-bility while making sauce and cents," according to Needham. "Growth in pasta sauce coupled with brand extension into adjacent categories provides ample opportunity for Rao's brand growth," analyst Matt McGinley wrote in a Wednesday note. McGinley initiated a buy rating on Sovos shares. "With operating leverage driving margin expansion, EBITDA and cash flow will grow faster than the top line, in our view. Sovos shares have jumped about 29% year to date.

Persons: Matt McGinley, McGinley, Needham, Sovos, " McGinley, — CNBC's Michael Bloom Organizations: Brands Locations: Needham, Tuesday's

Analyst Brent Bracelin raised his price target on shares to $400 from $348, saying he was increasing estimates "for an AI All-Star." Recall, Microsoft Cloud is poised to exceed $110B in F2023 which is larger than the entire business in F2013 at $78B. We think the Microsoft AI opportunity could be bigger than cloud," Bracelin wrote in a Tuesday note. Microsoft shares have been on fire this year, surging more than 38%, as excitement grows around the prospects of artificial intelligence. The analyst added, however, that "AI tailwinds can justify further multiple expansion as AI news flows further converts into higher confidence in out-year growth."

Persons: Piper Sandler, Brent Bracelin, MSFT, Bracelin, Michael Bloom Organizations: Microsoft Locations: Seattle

American Express is one of Wells Fargo's top picks for a tougher recession scenario. The firm said the payment card company has an excellent risk-reward valuation — even in the case of revenue growth being cut in half. "Their ability to flex peak investment expense is a powerful lever," Wells Fargo said in a Wednesday client note. "We view AXP shares as quite defensive, and it's our Top Pick. We believe their earnings would hold up better than many expect should we head into a tougher economic environment than the mild recession we assume.

Persons: Wells Fargo's, Wells Fargo, Donald Fandetti, Fandetti, — CNBC's Michael Bloom Locations: Wells

Avis Budget has been "left behind, without cause," opening up a buying opportunity for investors, according to Deutsche Bank. Analyst Chris Woronka upgraded shares to buy from hold. He also raised his price target to $263 from $239, implying 61% upside potential from Tuesday's close. CAR YTD mountain CAR year to date "It is no secret that CAR's earnings have benefited from gains on the resale of its vehicles for some eight quarters now, or that the company's pricing metric ('RPD') remains some 36% ahead of comparable 2019 levels on a TTM basis. "Buy the laggard," Woronka added.

Persons: Chris Woronka, Woronka, Avis, — CNBC's Michael Bloom Organizations: Avis Budget, Deutsche Bank

Fundstrat Global Advisors' head of research, Tom Lee, thinks earnings and valuations will reemerge as a top priority in coming weeks with much of the debt ceiling overhang lifted. "That's going to also be valuation and valuation is really anchored or constrained by what the Fed's doing, and the Fed is fighting inflation," he added. President Joe Biden and House Speaker Kevin McCarthy reached a deal over the weekend to raise the debt ceiling. Lee added that cooling inflation and prospects of a Federal Reserve rate hike pause also present further opportunity for investors. Conversely, Lee said he is avoiding sectors such as utilities, consumer staples and many health-care names that have become expensive in recent months.

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