Metals Stocks Drive Analyst Upgrades

RBC Capital made two bold calls on commodity names. Josh Wolfson raised his target on NEM to $155 from $135 — a 15% jump — while reiterating Buy. Newmont carries a $130B market cap and just 1.7% short interest. Gold's prolonged rally appears to be pulling more bulls off the sidelines.

The same bank lifted its target on FCX to $85 from $73. That's a 16% increase. Sam Crittenden held his Hold rating but the target move is striking. Freeport, with a $100B market cap, trades on copper sentiment. A target that large from a Hold suggests RBC sees copper prices staying elevated.

Raymond James upgraded JKHY. Analyst John Davis moved to Buy and lifted his target to $199 from $192. Jack Henry is a fintech payments processor with $10.8B in market cap. Short interest sits at 6% of the free float — not extreme, but notable for a software name.

Wells Fargo cut its target on HBAN to $21 from $23. Analyst Mike Mayo kept his Buy rating. The consensus average target also slipped to $20.19 from $20.30. Regional banks remain under pressure from margin concerns.

KR and RTX both saw consensus target price trims. Neither move was dramatic. Both stocks retain broadly neutral-to-positive analyst views.