As the market digests the election results, it looks like manufacturing stocks might be back in favor of investors today.
With the United States election over, investors are left figuring out which stocks and sectors they should invest in for the coming months. Most of the interest and capital are focused on the technology sector as momentum chasers step on theThis trend creates new upside potential for the United States economy in the domestic manufacturing sector, which is an underlying proposal from the new administration.
Wall Street analysts, particularly those at Truist Financial, might be able to answer that question. After reiterating their Buy rating, these analysts also pushed valuations for Deere stock as high as $496 a share, a significant boost from their previous $443 price target. The price of fertilizers and other chemicals is now at its cyclical lows, while demand in Asia and South America is beginning to tick up higher. With low prices, the supply hasn’t been expanding as producers have no incentive to profit, which creates a double tailwind for Mosaic’s margins in the coming months.
Investors can see this through the bold projections made by the Royal Bank of Canada, where analysts not only reiterated their Outperform rating on CF Industries stock but also boosted their price targets to a high of $100 a share. This new view suggests the stock has enough room to deliver a rally of up to 21% from today’s price.
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