Costco Wholesale , Procter & Gamble And Other Defensive Stocks From Wall Street's Most Accurate Analysts
Portfolio Pulse from Lisa Levin
Wall Street analysts have updated their ratings and price targets for several consumer staples stocks. Stifel and Morgan Stanley analysts see a 3% and 15% upside for Procter & Gamble (PG) respectively. Costco Wholesale (COST) received a Buy rating from Stifel with a 1% growth forecast, while JP Morgan cut its price target but still expects a 3% surge. Kraft Heinz (KHC) was upgraded by Bernstein to Outperform with a 15% upside, and Mondelez International (MDLZ) received an Overweight rating from Morgan Stanley and Piper Sandler with a 3.5% and 2% rise expected respectively. All companies have reported recent financial results, with PG and MDLZ posting better-than-expected earnings, COST reporting strong sales, and KHC showing mixed results but raising its full-year EPS outlook.
November 24, 2023 | 12:04 pm
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POSITIVE IMPACT
Costco Wholesale holds a Buy rating from Stifel with a new price target of $595, and an Overweight rating from JP Morgan with a reduced target of $605, forecasting a 1% and 3% growth respectively.
Despite a slight price target cut by JP Morgan, the overall positive ratings and strong sales figures could drive short-term growth for COST's stock.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
Kraft Heinz was upgraded to Outperform by Bernstein with a $40 price target, while Piper Sandler maintained a Neutral rating with a target of $35, suggesting a 15% and 1% upside respectively.
Bernstein's upgrade to Outperform and the raised full-year EPS outlook could positively impact KHC's stock in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Mondelez International received an Overweight rating from both Morgan Stanley and Piper Sandler, with price targets of $74 and $73 respectively, indicating a 3.5% and 2% potential rise.
Positive analyst ratings and better-than-expected third-quarter adjusted EPS results could lead to a short-term increase in MDLZ's stock price.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Procter & Gamble received a Hold rating from Stifel with a price target increase to $155, and an Overweight rating from Morgan Stanley with a target of $174, indicating potential upsides of 3% and 15% respectively.
Positive analyst ratings and recent better-than-expected earnings suggest a potential short-term upside for PG's stock price.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 90