10 things to watch in the stock market Thursday including the latest call on Nvidia

1. Wall Street is looking to extend its record rally Thursday with the Nasdaq once again leading the way. The tech-heavy index is riding a seven-session winning streak. The S&P 500, meanwhile, has climbed in six of the past seven trading days. U.S. markets were closed Wednesday for the Juneteenth holiday.
2. Nvidia shares are higher as the leading artificial intelligence chipmaker is poised to extend its lead as the most valuable public company. It edged out fellow Club name Microsoft for the first time in Tuesday’s session. Stifel raised its price target on Nvidia to $165 a share from $114, implying nearly 22% upside from Tuesday’s close.
3. Darden Restaurants reported a small top and bottom line beat for its fiscal 2024 fourth quarter, though flat same-store sales growth was a slight miss. Olive Garden was down 1.5% in the quarter ended May 26 while LongHorn Steakhouse increased 4%. Darden’s fiscal 2025 guidance was pretty much in line. It also boosted its dividend by 6.9%.
4. Club name Honeywell is putting money to work to beef up its aerospace and defense business through a $1.9 billion all-cash acquisition of CAES System Holdings from a private equity firm. The company said it will be accretive to adjusted earnings per share in the first full year of ownership. CAES’ products include antennas and missile instrumentation solutions.
5. Keybanc raised its price target on Club holding Meta Platforms to $540 a share from $475, citing a “meaningful uptick” in ad prices. That implies about 8% upside from Tuesday’s close. The analysts now think the social media giant’s second quarter revenues will “approach” the high end of guidance.
6. Advanced Micro Devices has sat out the recent AI rally, but Piper Sandler called the stock its top large-cap semiconductor pick for the second half of the year following a meeting with management.
7. Accenture‘s fiscal third quarter results missed on the top and bottom line, but the consulting firm’s results were not as bad as feared. Shares are jumping in the premarket. Investors seem to be taking comfort in more than $900 million of generative AI bookings.
8. Keefe, Bruyette & Woods increased its price target on Citigroup to $69 a share from $66 after the bank held an investor day focused on its Citi Services business. KBW analysts maintained their hold-equivalent rating on Citi.
9. Club name Eli Lilly published an open letter condemning the use of its GLP-1 medicines for cosmetic weight loss and warned about the risks of using compounded versions of tirzepatide. That is the active ingredient in fast-growing Zepbound for obesity and Mounjaro for type-2 diabetes. Eli Lilly shares closed Tuesday at a record high of $891.46 apiece.
10. Tesla price target lowered to $227 a share from $293 at RBC Capital, but analysts maintained their outperform rating on the electric vehicle maker’s stock. RBC shifts some of its projected robotaxi revenue contribution from Tesla to Uber and Lyft.

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