Edited by Peter Hillerberg1 min readStories are generated from ORTEX data and reviewed by the ORTEX team. How we publish
Morgan Stanley dominated Thursday's analyst tape, issuing a batch of target price changes across financials and energy that pulled in opposite directions.
The sharpest cut came on BAC. Betsy Graseck at Morgan Stanley sliced her target from $67 to $61, a 9% reduction, while keeping her Buy rating. PRU and PFG both drew target trims from JP Morgan's Pablo Singzon, each falling a dollar, with Hold calls left unchanged.
Energy told a different story. Morgan Stanley's Devin McDermott raised his target on CVX to $226 from $218 and lifted the rating to Buy. He also nudged up APA to $43 from $41, though the Sell rating remained. The divergence between the two oil names reflects CVX's stronger balance sheet heading into a softer macro backdrop.
BLK was the standout upgrade. Mike Cyprys at Morgan Stanley lifted his target to $1,531 from $1,468, the largest absolute target increase in the batch. The Buy rating held firm.
One off-the-radar call came from Bernstein, where Alexia Howard upgraded SJM to Buy with a $160 target, a modest premium to consensus. Smucker has faced cocoa and commodity cost pressure for over a year, and the call signals the firm sees margins turning.
CVNA drew a rare target cut alongside a Buy from Adam Jonas at Morgan Stanley, dropping to $88 from $90. German car registration data tracked by ORTEX Alt Data is running 133% above the same quarter last year for GM, which reports 20 October, suggesting used-vehicle demand signals remain mixed ahead of the print.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data and reviewed by the ORTEX team. Content is informational only and does not constitute investment advice.
