Morgan Stanley Slashes Utilities; Airlines Split

Morgan Stanley analyst David Arcaro cut price targets across four US utilities on Friday. The sweep hit PPL, PNW, PCG, and NRG. PPL's target fell from $42 to $39. PG&E dropped from $22 to $20. The cuts signal growing concern about utility valuations. NEE also took a trim, down to $111 from $114, though Arcaro kept his Buy rating intact.

Airlines told a split story. Rothschild & Co's James Goodall lifted DAL to a $105 target — a rare upgrade — while simultaneously cutting UAL from $165 to $150. Delta carries a $52 billion market cap versus United's $35 billion. Short interest in both names sits below 6% of free float, suggesting bears aren't piling in.

The standout call was JP Morgan's Jeffrey Zekauskas upgrading BALL from Hold to Buy. The packaging giant holds a $16 billion market cap. Short interest is just 3.1% of free float. JP Morgan set a $65 target.

RDDT received a new consensus recommendation. Analysts now average a $213.7 target across 34 coverage analysts.

The railroad sector saw quiet target trims. Both CSX and UNP saw minor consensus target price reductions.