Sealed Air Won’t Float Any Higher

Raymond James analyst Tim Thein upgraded Cummins (NYSE: CMI) stock to outperform with a $585 price target this morning.

The engine-maker is up 44% already this year, but Thein says he still sees “a compelling risk/reward trade-off with” as much as 20% upside if truck markets recover, versus limited downside if truck production weakens further.

Cummins shares are up more than 2% on the endorsement, while the Voo gains 0.6%.

Visions of sugarplums may be dancing in others’ heads, but investment bank Jefferies is still thinking of nought but stocks this week.

This morning, Jefferies initiated coverage of spy satellite operator BlackSky Technology Inc. (NYSE: BKSY) with a buy rating and a $23 price target of $23.00. BlackSky shares reacted immediately, surging 20% to hit the new price target in mere minutes on no other news but the initiation.

Jefferies says “BlackSky’s unique space based imagery offering provides runway on expanding international adoption, recovery of USG, and a refreshed constellation by YE 2026 supporting 2 to 4X revenue generation.” That appears to mean Jefferies sees 200% to 400% revenue growth next year — an incredible prediction given that most analysts are forecasting much more moderate (but still impressive) 32.5% revenue growth.

No wonder the stock is up!