Traders work on the floor of the New York Stock Exchange on the last day of trading for the year on December 29, 2023 in New York City.Stocks rose Monday, adding to their solid performance in the prior week, with Wall Street looking toward fresh inflation data this week.
Sacconaghi has currently assigned the stock an outperform rating accompanied by a price target of $195, implying that shares could add nearly 7% from their Friday close.first time in roughly three years Against this backdrop, the bank wrote that it currently prefers consumer staples stocks over their discretionary counterparts.
The consumer price index report is due Wednesday. Economists polled by Dow Jones expect CPI to have risen in April by 0.4% month over month and 3.4% year on year. Core CPI, which excluded food and energy, is expected to have risen 0.3% from March and 3.6% year over year.European markets kicked off the new trading week in mixed territory, with pan-European Stoxx 600 gaining slightly to trade up 0.03%.