From 24/7 Wall St. · Lee Jackson · · 1m 30s
Wall Street Analysts Split on Stock Targets
Wall Street analysts slashed targets on financial stocks while betting big on AI tech.
In brief
Wall Street analysts slashed targets on financial stocks while betting big on AI tech. Wall Street analysts upgraded AI and cloud stocks while downgrading financial and consumer names. Originally reported by 24/7 Wall St..
Wall Street Analysts Split
Wall Street analysts delivered a dramatic split verdict Monday, slashing targets on financial and consumer names while placing bold bullish bets on AI infrastructure and cloud players.
Stock Market Mixed
Stocks traded mixed with Nasdaq up sharply as we start another action-packed trading week, driven by a flood of third-quarter earnings from some of the biggest U.S. companies.
Index Performance
The Nasdaq fell 2.15% to 26,140, marking its worst week since June, while the S&P 500 closed at 7,659, down 1.09%.
Treasury Bonds
Yields fell across the curve as buyers loaded up on some of the highest-yielding U.S. sovereign debt in years.
Oil and Gas
Iran launched missile and drone strikes at commercial tankers in the Strait of Hormuz, reducing daily oil flows from 17.15 million to 11.62 million barrels.
Gold and Silver
Gold closed at $4,164, down 0.12%, while silver ended at $57.12, down 0.43%.
Crypto Market
Bitcoin climbed 1.7% to $82,162, but altcoins took the brunt of selling, with Bitcoin Cash plunging more than 6%.
Upgrades
Boyd Gaming upgraded to Overweight from Equal Weight at Morgan Stanley, trimming target price to $83 from $89.
Downgrades
Ameriprise Financial was double downgraded to Underperform from Buy at Bank of America, slashing target price to $445 from $570.
In short
Wall Street analysts upgraded AI and cloud stocks while downgrading financial and consumer names.
