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JPMorgan Chase's chief market strategist, Marko Kolanovic, warns of a potential market bubble due to the S&P 500's increasing levels of stock concentration, which have reached 60-year highs. Six mega-cap tech companies, including Microsoft, Alphabet, Amazon, Meta Platforms, NVIDIA, and Salesforce, account for 51% of the S&P 500's gains this year. Kolanovic also warns of the current AI frenzy, which could end in disillusionment. Potential catalysts for a large stock reversal include aggressive interest rate hikes, declining consumer savings, and a troubling geopolitical environment.

Portfolio Pulse from Piero Cingari

July 25, 2023 | 1:43 pm

TMP

Keefe, Bruyette & Woods analyst Michael Perito maintains a 'Market Perform' rating on Tompkins Finl (AMEX:TMP) and lowers the price target from $56 to $55.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 1:37 pm

SSBK

Keefe, Bruyette & Woods analyst Catherine Mealor maintains a 'Market Perform' rating on Southern States (NASDAQ:SSBK) and raises the price target from $25 to $26.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 1:36 pm

YMAB

Canaccord Genuity analyst William Plovanic maintains a 'Buy' rating on Y-mAbs Therapeutics (NASDAQ:YMAB) and raises the price target from $21 to $22.

Portfolio Pulse from jenniferd'souza@benzinga.com

July 25, 2023 | 1:35 pm

MCB

Keefe, Bruyette & Woods analyst Christopher O'Connell maintains an Outperform rating on Metropolitan Bank Holding (NYSE:MCB) and raises the price target from $57 to $65.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 1:35 pm

HOPE

Keefe, Bruyette & Woods analyst Christopher Mcgratty maintains a 'Market Perform' rating on Hope Bancorp (NASDAQ:HOPE) and raises the price target from $10 to $11.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 1:33 pm

DX

Keefe, Bruyette & Woods analyst Bose George maintains an 'Outperform' rating on Dynex Cap (NYSE:DX) and raises the price target from $13.5 to $14.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 1:32 pm

ADI

Susquehanna analyst Christopher Rolland maintains a positive outlook on Analog Devices (NASDAQ:ADI), raising the price target from $215 to $225.

Portfolio Pulse from jenniferd'souza@benzinga.com

July 25, 2023 | 1:32 pm

AMBA

Susquehanna analyst Christopher Rolland maintains a positive outlook on Ambarella (NASDAQ:AMBA), raising the price target from $85 to $92.

Portfolio Pulse from jenniferd'souza@benzinga.com

July 25, 2023 | 1:30 pm

DHI

Keefe, Bruyette & Woods analyst Jade Rahmani maintains a 'Market Perform' rating on D.R. Horton (NYSE:DHI) and raises the price target from $125 to $142.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 1:30 pm