Leaning Into Energy Stocks as Midterm Elections Draw Near
I can’t predict the midterms, but I can see I was let down by Johnson & Johnson — and that energy stocks are surging.
I can’t predict the midterms, but I can see I was let down by Johnson & Johnson — and that energy stocks are surging.
Upgrades:
ArcelorMittal ($MT) upgraded to Overweight from Neutral at JPMorgan
Array Technologies ($ARRY) upgraded to Outperform from Neutral at Mizuho, Target: $5
Bank of America ($BAC) upgraded to Outperform from Neutral at Baird, Target: $62
BorgWarner ($BWA) upgraded to Buy from Neutral at BofA, Target: $85
Brighthouse Financial ($BHF) upgraded to Neutral from Underweight at JPMorgan, Target: $55
CarMax ($KMX) upgraded to Buy from Underperform at BofA, Target: $65
Casey’s General Stores ($CASY) upgraded to Outperform from Sector Perform at RBC Capital, Target: $825
Cemex ($CX) upgraded to Buy from Neutral at Citi, Target: $12
Crocs ($CROX) upgraded to Overweight from Equal Weight at Barclays, Target: $139
Fortrea ($FTRE) upgraded to Buy from Hold at Deutsche Bank, Target: $25
Lithium Americas ($LAC) upgraded to Speculative Buy from Hold at Canaccord
Quantinuum ($QNT) upgraded to Overweight from Equal Weight at Morgan Stanley, Target: $62
Scotts Miracle-Gro ($SMG) upgraded to Buy from Neutral at UBS, Target: $70
Walmart ($WMT) upgraded to Buy from Hold at Deutsche Bank, Target: $136
Zions Bancorp ($ZION) upgraded to Outperform from Neutral at Baird, Target: $75
Downgrades:
Albertsons ($ACI) downgraded to Neutral from Overweight at JPMorgan, Target: $14
Albertsons ($ACI) downgraded to Neutral from Buy at Goldman Sachs, Target: $13
Align Technology ($ALGN) downgraded to Neutral from Outperform at Baird, Target: $162
Cirrus Logic ($CRUS) downgraded to Sector Weight from Overweight at KeyBanc
Dauch ($DCH) downgraded to Underperform from Buy at BofA, Target: $5
Envista ($NVST) downgraded to Neutral from Outperform at Baird, Target: $26
Par Pacific ($PARR) downgraded to Neutral from Buy at Goldman Sachs, Target: $94
Spotify ($SPOT) downgraded to Hold from Buy at StoneX
ZTO Express ($ZTO) downgraded to Neutral from Buy at Goldman Sachs, Target: $22
New research coverage
AngloGold Ashanti ($AU) initiated with a Buy at Goldman Sachs, Target: $104
Antero Resources ($AR) initiated with a Sector Outperform at Scotiabank, Target: $46
APA Corp. ($APA) initiated with a Sector Perform at Scotiabank, Target: $44
Black Hills ($BKH) initiated with a Buy at Jefferies, Target: $87
Bright Minds Biosciences ($DRUG) initiated with an Outperform at Wolfe Research, Target: $150
CAMP4 Therapeutics ($CAMP) initiated with a Buy at Needham, Target: $8
Chord Energy ($CHRD) initiated with a Sector Outperform at Scotiabank, Target: $192
CNX Resources (CNX) initiated with a Sector Perform at Scotiabank, Target: $34
Crescent Energy ($CRGY) initiated with a Sector Outperform at Scotiabank, Target: $18
CRISPR Therapeutics ($CRSP) initiated with a Neutral at UBS, Target: $52
Devon Energy ($DVN) initiated with a Sector Outperform at Scotiabank, Target: $61
Diamondback Energy ($FANG) initiated with a Sector Outperform at Scotiabank, Target: $250
Digital Turbine ($APPS) resumed with a Buy at Roth Capital, Target: $19
Eloxx Pharmaceuticals ($ELOX) initiated with an Overweight at Cantor Fitzgerald
EOG Resources ($EOG) initiated with a Sector Perform at Scotiabank, Target: $144
EQT Corporation ($EQT) initiated with a Sector Perform at Scotiabank, Target: $54
Establishment Labs ($ESTA) initiated with a Buy at Stifel, Target: $85
Fidelity National Information Services ($FIS) resumed with a Buy at BofA, Target: $42
First Financial Bankshares ($FFIN) initiated with a Market Perform at Raymond James
Fiserv ($FISV) resumed with an Underperform at BofA, Target: $48
Global Payments ($GPN) resumed with a Buy at BofA, Target: $114
Gold Fields ($GFI) initiated with a Neutral at Goldman Sachs, Target: $38
Gulfport Energy ($GPOR) initiated with a Sector Outperform at Scotiabank, Target: $217
HawkEye 360 ($HAWK) initiated with an Overweight at Piper Sandler, Target: $22
Hemab Therapeutics ($COAG) initiated with an Overweight at JPMorgan, Target: $70
Infinity Natural Resources ($INR) initiated with a Sector Outperform at Scotiabank, Target: $17
Magnolia Oil & Gas ($MGY) initiated with a Sector Outperform at Scotiabank, Target: $31
Matador Resources ($MTDR) initiated with a Sector Perform at Scotiabank, Target: $59
MGE Energy ($MGEE) initiated with a Neutral at JPMorgan, Target: $76
Murphy Oil ($MUR) initiated with a Sector Perform at Scotiabank, Target: $41
Netflix ($NFLX) assumed with a Buy at Jefferies, Target: $85
Northern Oil and Gas ($NOG) initiated with a Sector Perform at Scotiabank, Target: $27
onsemi ($ON) initiated with a Buy at StoneX, Target: $110
Ovid Therapeutics ($OVID) initiated with an Outperform at Wolfe Research, Target: $5
Permian Resources ($PR) initiated with a Sector Outperform at Scotiabank, Target: $29
Rapport Therapeutics ($RAPP) initiated with an Outperform at Wolfe Research, Target: $50
Rapport Therapeutics ($RAPP) initiated with a Buy at UBS, Target: $71
Redwire ($RDW) initiated with a Neutral at Piper Sandler, Target: $11
Shift4 Payments ($FOUR) resumed with a Neutral at BofA, Target: $42
Sight Sciences ($SGHT) initiated with a Buy at H.C. Wainwright, Target: $14
SM Energy ($SM) initiated with a Sector Perform at Scotiabank, Target: $39
Solid Biosciences ($SLDB) initiated with a Buy at UBS, Target: $20
Spectrum Brands ($SPB) resumed with a Buy at UBS, Target: $97
Suja Life ($SUJA) initiated with a Hold at Needham
Ultragenyx ($RARE) initiated with a Neutral at UBS, Target: $16
Vail Resorts ($MTN) initiated with a Market Perform at Citizens
Versant Media ($VSNT) initiated with an Equal Weight at Morgan Stanley, Target: $38
Viking Therapeutics ($VKTX) initiated with a Buy at UBS, Target: $94
Viper Energy ($VNOM) initiated with a Sector Outperform at Scotiabank, Target: $54
Warner Music Group ($WMG) initiated with a Buy at StoneX
Wave Life Sciences ($WVE) initiated with a Buy at UBS, Target: $11
York Space Systems ($YSS) initiated with a Neutral at Piper Sandler, Target: $9
Position: TheStreet Pro Portfolio is long BAC, NFLX
As oil prices continue to rise, these three stocks show solid upside potential.
We’re getting a clear signal from the charts about how the market views the latest from the Middle East.