Investing

Setting Up for CPI: Analysts Upgrade or Downgrade American Express, Eli Lilly, PayPal and More

Markets pushed higher to start out the week, after stronger-than-expected employment data for May came out on Friday. By midday, the Nasdaq and the S&P 500 were up 0.5%, while the Dow Jones industrials were up less than 0.3%.

With a strong employment report in the bag, investors are now looking forward to the consumer price index report coming out later this week. The consensus estimate for May calls for a reading of 8.3%, flat with April’s print.

As the labor market continues to improve, more focus is being put on inflation and how this problem will be remedied. The Federal Reserve is looking to tackle this problem. The Federal Open Market Committee (FOMC) members will have limited interviews this week, ahead of the next policy meeting scheduled for June 14 and 15. Many are expecting another 50-basis-point hike. But have the markets priced this move in yet?

24/7 Wall St. is reviewing additional analyst calls seen on Monday. We have included the latest call on each stock, as well as a recent trading history and the consensus targets among analysts. Note that analyst calls seen earlier in the day were on Bristol-Myers Squibb, Costco, CrowdStrike, Spotify and more.

American Express Co. (NYSE: AXP): Edward Jones upgraded the stock to Buy from Hold. The 52-week trading range is $149.71 to $199.55, and shares traded above $168 apiece on Monday.

Aurora Cannabis Inc. (NASDAQ: ACB): Stifel upgraded the shares to Hold from Sell. The stock traded near $1.60 on Monday, in a 52-week range of $1.50 to $10.64.

Edison International (NYSE: EIX): UBS lowered its Buy rating to Neutral and cut the $75 price target to $73. The 52-week trading range is $54.14 to $73.32, and shares were trading near $70 on Monday.

Eli Lilly and Co. (NYSE: LLY): Mizuho reiterated a Buy rating with a $356 price target. The stock traded near $311 on Monday. The 52-week trading range is $201.83 to $324.08.

Five Below Inc. (NASDAQ: FIVE): Deutsche Bank reiterated a Buy rating but cut the $284 price target to $249. The 52-week trading range is $110.83 to $237.86, and shares traded near $131 apiece on Monday.

PayPal Holdings Inc. (NASDAQ: PYPL): Wedbush reiterated an Outperform rating with a $110 price target. This stock also is the Bear of the Day at Zacks, which cites contracting earnings this year. The shares traded near $88 on Monday. The 52-week trading range is $71.83 to $310.16.

ResMed Inc. (NYSE: RMD): RBC Capital’s upgrade to Outperform from Sector Perform included a price target hike to $244 from $233. Shares were trading near $211, in a 52-week range is $189.40 to $301.34.

Ryder System Inc. (NYSE: R): Wells Fargo reiterated an Equal Weight rating but raised the price target to $81 from $68. Also, Wolfe Research upgraded it to Peer Perform from Underperform. The 52-week trading range is $82.32 to $93.05, and shares were trading just under $82 on Monday.

Upwork Inc. (NASDAQ: UPWK): Piper Sandler reiterated an Overweight rating with a $30 price target. The stock traded near $19 on Monday, in a 52-week range of $14.85 to $64.49.


This week, four top companies are expected to hike the dividends they pay to shareholders, making their stocks good total return candidates.

See which nine Dividend Aristocrats are in sectors that are defensive and look poised to do well for the next six months to a year, at least. Plus, J.P. Morgan has three stock picks with up to nearly 80% upside potential.

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