6 Stocks to Watch on Friday: Target Stock, Lowe’s Stock, and More

Maryam Nasir
by: Maryam Nasir
Target Stock

Wall Street is still searching for direction following last week’s huge gain, and stocks appear ready to continue treading water at the start of trade on Friday. Here are Friday’s stocks to watch:

1. Target Corporation (TGT:NYE):

Target Stock (TGT:NYE) Analysis:

Last Closing Price: $155.47

Consensus Rating: Strong Buy

12-Month Price Target: $188.90

 

Target stock (TGT:NYE) fell 12% in premarket trading after the retailer’s third-quarter profit and Christmas sales forecast fell short of forecasts. The company posted a Q3 profit of $1.54 per share, $0.64 per share below expectations.

TGT stated that it “believes it is prudent to plan for a broad range of fourth-quarter sales results, focusing on a low-single-digit fall in comparable sales.”

 

2. Lowe’s Companies Inc. (LOW:NYE):

Lowe’s Stock (LOW:NYE) Analysis:

Last Closing Price: $208.40

Consensus Rating: Buy

12-Month Price Target: $231.50

 

Lowe’s stock (LOW:NYE) rose prior to the opening bell, aided by results that surpassed Wall Street’s expectations and an upgraded projection.

The home improvement store reported a 2% increase in revenue to approximately $23.5 billion, beating estimates by $320 million. In premarket trading, LOW rose 2% in response to the results.

 

3. Grab Holdings Ltd. (GRAB:NSD):

Grab Stock (GRAB:NSD) Analysis:

Last Closing Price: $3.22

Consensus Rating: Strong Buy

12-Month Price Target: $4.12

 

Grab stock (GRAB:NSD) climbed 15% on the publication of its financial results. The company reported a loss that was smaller than anticipated, with sales that more than doubled from the previous year.

GRAB also boosted its revenue projections for 2022, projecting between $1.32 billion and $1.35 billion. Analysts had anticipated $1.28B.

 

4. Carnival Corporation (CCL:NYE):

Carnival Stock (GRAB:NYE) Analysis:

Last Closing Price: $9.51

Consensus Rating: Hold

12-Month Price Target: $11.76

 

Carnival stock (CCL:NYE) was subject to selling pressure following the announcement of a senior note issue. The company announced that it will launch a $1 billion private offering of convertible senior notes due in 2027.

The move is part of the cruise line’s intention to refinance in 2024. Concerned about the dilution of existing shareholders, CCL fell over 13% prior to the opening bell.

 

5. NVIDIA Corporation (NVDA:NSD)

NVIDIA Stock (NVDA:NSD) Analysis:

Last Closing Price: $156.77

Consensus Rating: Strong Buy

12-Month Price Target: $212.20

 

The quarterly results for Nvidia (NVDA:NSD) are scheduled to be released after the closing bell. NVDA is anticipated to earn $0.70 per share on $5.82B in revenue against widespread uncertainties over the chipmaker and the industry as a whole.

 

6. Cisco Systems Inc. (CSCO:NSD):

Cisco Stock (CSCO:NSD) Analysis:

Last Closing Price: $46.59

Consensus Rating: Buy

12-Month Price Target: $52.18

 

Cisco stock (CSCO:NSD) is another major company slated to report its quarterly results on Wednesday after the market closes. The analyst consensus for the networking equipment manufacturer is $0.84 per share in earnings and $13.3 billion in revenue.

Disclaimer

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