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Jim Cramer’s top 10 things to watch in the stock market Monday

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My top 10 things to watch Monday, July 24

1. Chevron (CVX) on Sunday announced excellent preliminary second-quarter results, while extending the contract of CEO Mike Wirth. The United States’ second-largest oil firm in May announced an agreement to expand its shale operations by acquiring PDC Energy (PDCE) in a deal valued at $7.6 billion, including debt. Chevron is set to release its full second-quarter report on Friday.

2. Truist on Monday lowered its price target on Club oil name Pioneer Natural Resources (PXD) to $196 a share, from $220, while maintaining a hold rating on the stock. The firm said it expects free cash flow for most exploration-and-production firms like Pioneer to be down over 50% given lower commodity prices.

3. Piper Sandler on Monday downgraded Club name Estee Lauder (EL) to neutral, from a buy-equivalent rating. The firm also lowered its price target on the cosmetics firm to $195 a share, down from $265. This is the result of of the downfall of the Chinese consumer, which seems endless.

4. Deutsche Bank on Monday raised its price target on Club holding Apple (AAPL) to $210 a share, up from $180, citing upside to the tech giant’s iPhone, Mac and services revenues. Apple is set to report fiscal third-quarter results on Aug. 3.

5. UBS on Monday downgraded electric-vehicle maker Tesla (TSLA) to hold, from buy, noting “very limited” upside to the company’s share price going forward. Still, the firm raised its price target on Tesla to $270 a share, up from $220.

6. Mizuho on Monday raised its price target on Club holding Nvidia (NVDA) to $530 a share, up from $400, while maintaining a buy rating on the stock. The analysts cited accelerating demand for generative artificial intelligence.

7. KeyBanc on Monday, in a call I love, raised its price target on Airbnb (ABNB) to $160 a share, from $135, on the back of reaccelerating travel spending. The firm reiterated an overweight, or buy, rating on Airbnb stock.

8. Mizuho on Monday raised its price target on Intel (INTC) to $33 a share, from $30, arguing semiconductor group multiples have improved. The firm maintained a neutral rating on the stock.

9. Raymond James on Monday upgraded home-construction company DR Horton (DHI) to outperform, or buy, from market perform on the back its “outstanding” fiscal third-quarter results. The firm, which has a price target of $160 on DHI shares, noted an “impressive rebound” in homebuilding margins.

10. Wells Fargo on Monday downgraded its rating on Interpublic Group (IPG) to equal weight, or neutral, from overweight, ahead of a late-cycle downturn. The firm lowered its price target on IPG to $33 a share, from $43.

(See here for a full list of the stocks in Jim Cramer’s Charitable Trust.)

As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, TOGETHER WITH OUR DISCLAIMER.  NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.  NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.


My top 10 things to watch Monday, July 24

1. Chevron (CVX) on Sunday announced excellent preliminary second-quarter results, while extending the contract of CEO Mike Wirth. The United States’ second-largest oil firm in May announced an agreement to expand its shale operations by acquiring PDC Energy (PDCE) in a deal valued at $7.6 billion, including debt. Chevron is set to release its full second-quarter report on Friday.

2. Truist on Monday lowered its price target on Club oil name Pioneer Natural Resources (PXD) to $196 a share, from $220, while maintaining a hold rating on the stock. The firm said it expects free cash flow for most exploration-and-production firms like Pioneer to be down over 50% given lower commodity prices.

3. Piper Sandler on Monday downgraded Club name Estee Lauder (EL) to neutral, from a buy-equivalent rating. The firm also lowered its price target on the cosmetics firm to $195 a share, down from $265. This is the result of of the downfall of the Chinese consumer, which seems endless.

4. Deutsche Bank on Monday raised its price target on Club holding Apple (AAPL) to $210 a share, up from $180, citing upside to the tech giant’s iPhone, Mac and services revenues. Apple is set to report fiscal third-quarter results on Aug. 3.

5. UBS on Monday downgraded electric-vehicle maker Tesla (TSLA) to hold, from buy, noting “very limited” upside to the company’s share price going forward. Still, the firm raised its price target on Tesla to $270 a share, up from $220.

6. Mizuho on Monday raised its price target on Club holding Nvidia (NVDA) to $530 a share, up from $400, while maintaining a buy rating on the stock. The analysts cited accelerating demand for generative artificial intelligence.

7. KeyBanc on Monday, in a call I love, raised its price target on Airbnb (ABNB) to $160 a share, from $135, on the back of reaccelerating travel spending. The firm reiterated an overweight, or buy, rating on Airbnb stock.

8. Mizuho on Monday raised its price target on Intel (INTC) to $33 a share, from $30, arguing semiconductor group multiples have improved. The firm maintained a neutral rating on the stock.

9. Raymond James on Monday upgraded home-construction company DR Horton (DHI) to outperform, or buy, from market perform on the back its “outstanding” fiscal third-quarter results. The firm, which has a price target of $160 on DHI shares, noted an “impressive rebound” in homebuilding margins.

10. Wells Fargo on Monday downgraded its rating on Interpublic Group (IPG) to equal weight, or neutral, from overweight, ahead of a late-cycle downturn. The firm lowered its price target on IPG to $33 a share, from $43.

(See here for a full list of the stocks in Jim Cramer’s Charitable Trust.)

As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, TOGETHER WITH OUR DISCLAIMER.  NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.  NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.

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