Metals Miners Lead Analyst Upgrades

RBC Capital is betting big on gold and copper. The bank hiked its target on NEM from $135 to $155, upgrading the miner to Buy. Newmont carries a $130 billion market cap. Short interest sits at just 1.7% of free float — bears are largely absent.

The same RBC analyst also raised the target on FCX from $73 to $85. Freeport-McMoRan is the world's largest publicly traded copper producer. The move signals confidence in industrial metals demand. FCX has a ~$100 billion market cap.

Raymond James made a notable move in fintech. Analyst John Davis upgraded JKHY to Buy. The target rose from $192 to $199. Jack Henry serves community and mid-size banks with payment and tech solutions. Short interest is 6% of free float — above average for the sector.

On the downside, Wells Fargo's Mike Mayo cut his target on HBAN from $23 to $21. He kept his Buy rating. The bank faces margin pressure in the current rate environment.

CCL also saw a trim. Stifel lowered its Carnival target from $37 to $35, keeping Buy. The cruise operator remains widely held by analysts. 22 Buy ratings sit on the stock versus just one Sell.

This article is for informational purposes only and does not constitute financial advice.