HomeFinance NewsJim Cramer's Watchlist: Dire Consumer Forecast & Top 12 Stocks, All Analyzed!

Jim Cramer’s Watchlist: Dire Consumer Forecast & Top 12 Stocks, All Analyzed!

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The retail sector is facing numerous challenges, especially for lower to middle-class consumers. JPMorgan retail analyst Matt Boss highlights various concerning trends such as rising mortgage rates, increasing credit card debt, stagnant wages, and a decline in apparel trade. In addition, the unemployment rate is at an 18-month high, personal savings rates are below 2019 levels, and the resumption of student loan payments adds to the financial burden. These factors indicate that consumers in this demographic are struggling to meet essential expenses.

Banks are also dealing with uncertainty due to the struggling commercial real estate sector. However, there are some positive aspects that may help safeguard their bottom lines. Wells Fargo and Morgan Stanley, for example, have tailwinds in their financial names that can provide some stability. Despite this, JPMorgan has lowered its price target on Netflix ahead of the company’s quarterly earnings announcement. Online advertising tech company Trade Desk has received a buy rating and $100-per-share price target from UBS, as there is optimism that companies will shift their advertising spending to streaming platforms.

Workday, a company that provides cloud services for HR and finance teams, experienced a decline in shares by almost 11% after revealing their Investor Day details. The company’s forecast for annual subscription revenue growth, as well as weakened Co-CEO confidence, contributed to the negative response. Similarly, Bank of America has reduced its price target on Advance Auto Parts due to concerns about the new CEO’s turnaround plans. Nevertheless, Paychex has received multiple price target increases from TD Cowen, Morgan Stanley, and Bank of America.

In the beverage industry, TD Cowen has initiated coverage of Diageo with a $152-per-share price target and a market perform (hold) rating. The CNBC Investing Club holds a positive view and ownership of Constellation Brands, the owner of Corona and Modelo. However, the price target for Walgreens Boots Alliance has been cut by TD Cowen due to the upcoming quarter and 2024 guidance being seen as vital to the stock’s near-term direction. Lastly, JPMorgan has raised the price target on Take-Two Interactive, indicating positive outlook with regards to the release of Grand Theft Auto VI. On the other hand, Barclays has reduced the price target on United Parcel Service ahead of their earnings release next month.

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