What Cramer is watching Monday — Price target cuts and downgrades, few bright spots

Published Mon, Jul 11 20229:03 AM EDT

What I am looking at July 11, 2022 Twitter jump ball: Elon Musk terminates deal. Twitter (TWTR) says it will sue. The stock sinks 5% in the premarket. Baird price target cut to $33 per share from $45. Meta Platforms (META), a Club holding, downgraded to sell from hold (underperform from hold) at Needham. Pretty radical given how Reels has taken off. Metaverse obsession by Zuckerberg? Club holding Nvidia (NVDA) is not done going down, yet. It can't until all the target price cuts are finished. Monday, it's Piper Sandler going to $235 per share from $250. Russia, China, and ether, gaming all weighing on the numbers. Watch our Investing Club "Monthly Meeting" at 12 p.m. ET to learn more. No end to the price-target cutting on Boston Beer (SAM). This time it's Credit Suisse going to $400 per share from $620. Miss and guidance cut coming. We prefer Trust-owned Constellation Brands (STZ), which is now above where it reported earnings. Piper Sandler's cuts price target for Restaurant Brands International (QSR), which owns Burger King, $52 per share from $60, sees share loss. I think McDonald's (MCD) is set up for good for the quarter. Loop Capital starts covering Boyd Gaming (BYD) with a buy rating. Club holding Wynn Resorts (WYNN) continues to have problems in Macau. Piper lowers Blackstone (BX) and KKR (KKR). Endless price target cuts. Club holding Honeywell (HON) upgraded to buy from neutral at Bank of America. Jefferies takes Lululemon (LULU) downgraded to sell from hold (underperform from hold), with a price target cut to $200 per share from $375. Stryker (SYK) goes to neutral from buy at BofA. Mattel (MAT) upgraded to buy from neutral at Goldman Sachs, cites new toys fixed cost leverage. "Thor: Love and Thunder" is huge winner for Club holding Disney (DIS): $143 million in domestic box office opening. But no one cares at all as Wall Street regards it as a relentless loser, a notion we just don't understand. Range Resources (RRC) goes to buy from hold (overweight from equal weight) at Wells Fargo; Southwestern Energy (SWN) also to buy. Citi cuts price target on American Airlines (AAL) to $15.75 per share from $22. Crown Castle (CCI) to $200 per share from $204 at Citi, which says it will miss consensus. American Express (AXP) price target cut to $157 per share from $190 at Barclays, which sees some provision risk. Goldman Sachs downgrades Upstart (UPST) to sell from neutral, with a new price target of $14 per share versus prior $40. Goldman sees slowdown in origination and revenue growth, reduced confidence in differentiation, lending decision buyers will need higher rates. Bad preannouncement. Must now quote a higher rate. Cost of funding going up. AI not working versus FICO score. Goldman likes Buy Now, Pay Later Affirm (AFRM) as best in class, but sees regulatory, funding, margins as problems. Club holding Advanced Micro Devices (AMD) price target cut to $85 from $115 at Barclays, believes second half much more brutal. Intel (INTC) to $40 from $45 Barclays, same reasoning. Barclays takes DuPont (DD) price-target to $64 per share from $78; Dow Inc. (DOW) to $60 from $72; Barclays cites Club holding Linde (LIN) as top pick in chemicals sector. KB Home (KBH) downgraded to hold from buy (neutral from outperform) at Credit Suisse, which cuts price target to $35 per share from $42. Evercore Marriott (MAR) to buy from hold (outperform from in line). Cowen says Apple (AAPL) sales likely healthy. Wireless tech company Qorvo (ORVO) downgraded to hold from buy (market perform from outperform) at Cowen, which sees more core business and macro challenges. Baird downgrades Dutch Bros. (BROS) to hold from buy (neutral from outperform). Tactical downgrade. Rising risk of downturn in broader discretionary spending. (Jim Cramer's Charitable Trust is long NVDA, WYNN, HON, META, AMD, LIN and AAPL. See here for a full list of the stocks.) 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.

Mark Zuckerberg, CEO of Meta Platforms, appears on CNBC's "Mad Money" with Jim Cramer on June 22, 2022.

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What I am looking at July 11, 2022

Twitter jump ball: Elon Musk terminates deal. Twitter (TWTR) says it will sue. The stock sinks 5% in the premarket. Baird price target cut to $33 per share from $45.

Meta Platforms (META), a Club holding, downgraded to sell from hold (underperform from hold) at Needham. Pretty radical given how Reels has taken off. Metaverse obsession by Zuckerberg?

Club holding Nvidia (NVDA) is not done going down, yet. It can't until all the target price cuts are finished. Monday, it's Piper Sandler going to $235 per share from $250. Russia, China, and ether, gaming all weighing on the numbers. Watch our Investing Club "Monthly Meeting" at 12 p.m. ET to learn more.

No end to the price-target cutting on Boston Beer (SAM). This time it's Credit Suisse going to $400 per share from $620. Miss and guidance cut coming. We prefer Trust-owned Constellation Brands (STZ), which is now above where it reported earnings.