Barron's Weekend Stock Picks: Truist Financial, Groupon And Nvidia's Rising Stock
Portfolio Pulse from Justin Chan
Barron's has highlighted several stocks in its weekend review. Truist Financial Corp (TFC) is preparing for potential activist investor interest by selling its insurance stake and reshuffling its board. Wells Fargo & Co (WFC) is planning workforce cuts despite a resurgence in its wealth business. Groupon's (GRPN) stock jumped 16% on a 'Buy' rating with a $30 target. Novo Nordisk (NVO) raised its 2023 sales and profit outlook due to strong demand for its products in the U.S. Nvidia Corp's (NVDA) accelerated innovation in AI chips has led to a 'Buy' rating and $650 price target.

October 15, 2023 | 5:39 pm
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NEGATIVE IMPACT
Wells Fargo is planning workforce cuts despite a resurgence in its wealth business.
The planned workforce cuts could negatively impact the company's operations and potentially its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Truist Financial is preparing for potential activist investor interest by selling its insurance stake and reshuffling its board.
The company's actions suggest it is preparing for potential activist investor interest, which could lead to significant changes in the company's strategy and potentially its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Groupon's stock jumped 16% on a 'Buy' rating with a $30 target.
The 'Buy' rating and $30 target suggest that analysts are bullish on the company's prospects, which could drive its stock price higher.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Nvidia's accelerated innovation in AI chips has led to a 'Buy' rating and $650 price target.
The 'Buy' rating and $650 price target suggest that analysts are bullish on the company's prospects, which could drive its stock price higher.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Novo Nordisk raised its 2023 sales and profit outlook due to strong demand for its products in the U.S.
The raised sales and profit outlook suggests that the company's financial performance is likely to improve, which could drive its stock price higher.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90