All the talk on Wall Street from Monday
(Here’s CNBC Pro’s live coverage of analyst calls and Wall Street chatter on Monday. Refresh every 20-30 minutes to see the latest posts.) A tech giant and a consumer staples name were among the companies mentioned by analysts on Monday. Citi reiterated Dell Technologies as a buy, noting that the stock could rise sharply following its upcoming inclusion in the S&P 500 index. Meanwhile, Morgan Stanley downgraded Church & Dwight to equal from outperform. Watch the latest calls and chatter below. All times are ET. 5:51 a.m.: Morgan Stanley downgrades Church & Dwight Following Church & Dwight’s rally, Morgan Stanley sees its bullish thesis being executed. Analyst Dara Mohsenian downgraded the consumer packaged goods stock to equal from outperform. Mohsenian’s $110 price target implies just 4.6% upside from Friday’s close. The analyst said the stock is fairly priced after rising nearly 30% since the start of 2023. That makes it one of the best-performing stocks in the coverage over that time period, Mohsenian said. However, the stock is up less than 12% in 2024, underperforming the S&P 500. CHD YTD CHD is up big this year Mohsenian also said the overweight thesis that helped get the stock upgraded early last year is now largely resolved. On top of that, he noted that the tough valuation environment for personal care and home care stocks could put pressure on parent company Arm & Hammer. Looking ahead, he said there are stronger plays in the sector. “From a firm perspective, we’re very upfront that there’s no punch in our coverage here in our view,” he said. “We remain most bullish on OW-rated Coca-Cola and Colgate as our top long-term picks and see near-term upside in EW-rated Clorox and Keurig Dr Pepper, despite our long-term EW stance.” — Alex Harring 5:51 a.m.: Dell will rally on inclusion in the S&P 500, Citi says Get ready for big gains in Dell Technologies shares, according to Citi. Analyst Asiya Merchant reiterated her buy rating and $160 price target on the stock — implying a 57% upside from Friday’s close. Shares rose more than 6% in premarket trading after S&P Dow Jones Indices announced late Friday that the laptop maker would rejoin the S&P 500 benchmark on September 23. “Dell was a member of the S&P 500 from 1996 to 2013, before going private. In previous research, we identified inclusion in the S&P 500 as a potential catalyst,” Merchant wrote. “We believe DELL stock could continue to perform post-inclusion, with other potential catalysts on the horizon including a recovery in general-purpose infrastructure demand, a PC refresh cycle heading into CY25, AI momentum, and capital gains.” The stock is up more than 33% year to date. DELL YTD DELL Year to Date — Fred Imbert
