The Club’s 10 things to watch Monday, Nov. 11
1. Wall Street is headed for a higher open Monday as the postelection rally continues. Many Trump-related trades are extending their gains from last week, most notably Tesla and bitcoin, which topped $82,000 each. The S&P 500, Nasdaq and Dow all finished last week at all-time closing highs. Big week ahead: Club names and Dow stocks Home Depot and Disney are out with earnings, and the government releases two key inflation reports.
2. Wedbush’s Dan Ives raised his price target on Tesla to $400 a share from $300, implying 24.5% upside from Friday’s close. Ives, a noted tech bull, believes Donald Trump’s presidential election win “will be a gamechanger” for autonomous driving and Tesla’s AI story. In a piece for Club members Friday, we looked at what a second Trump administration could mean for artificial intelligence writ large.
3. JPMorgan upgraded Cisco Systems to a buy-equivalent overweight rating on networking demand recovery. There also is some room for multiple expansion and potential upside from Cisco’s security business, analysts said. Cisco is set to report after Wednesday’s close.
