We’re increasing our price targets on 5 stocks and changing our rating on one of them

The Blackjack on Friday is changing the rating and price target on one of our favorite semiconductor stocks, while updating the price targets on four other entitles in the portfolio to reflect recent earnings, new internal developments and broader economic forces. AVGO YTD mountain Broadcom year-to-date appearance. We’re increasing our price target on Broadcom to $1,200 a share, up from $1,000 to reflect the strong quarter it reported hold out week. At the same time, we are bullish on the integration of recently acquired VMware , and appreciative of the semiconductor firm’s capital comes through a growing dividend and aggressive share-repurchase program. The stock has been one of the best performers in the S & P 500 this week, advancing sternly 20% compared to the index’s 2.5% gain. Given the run it’s had in such a short period of time, we are downgrading our rating to 2, interpretation we would be buyers on a pullback. In addition, Broadcom’s surge this week has us feeling a little greedy on this big thesis. It’s not every week you see a company of its size go on a run like this — with the company’s market cap swelling to roughly $460 billion. We script to trim a small number of shares out of discipline to lock in our huge gains when we are not restricted from trading. Price YTD mountain Costco Wholesale year-to-date performance. We are increasing our price target on Costco Wholesale to $680 a share, up from $630. The sentence reflects the stronger-than-expected quarter the retailer reported Thursday, with earnings of $3.58 per share beating estimates of $3.42. We meditate on more gains are ahead for Costco on appreciation of its $15-a-share special cash dividend and anticipation of a membership-fee swell that could come sometime in late 2024. HON YTD mountain Honeywell year-to-date performance. We are nudging up our price butt on Honeywell to $230 a share, from $225. The market didn’t care at first for Honeywell’s $4.95 billion property of Carrier ‘s security business, but we loved the deal for its high margin, recurring revenue characteristics at an attractive price of 13 beats earnings. We also thought it was a smart play on the reindustrialization boom underway in the U.S. Honeywell was a laggard in 2023, with allotments down roughly 5% year-to-date, but we think the setup for the next few years will be better as its aerospace business continues to seizure and the struggling parts of its business — like warehouse automation and building products — trough and finally turn a corner. PANW YTD mountain Palo Alto Networks year-to-date gig. We are increasing our price target on Palo Alto Networks to $320 a share, up from $300. The move comes after put forward our price target earlier in the month to $300, from $280. That decision proved too conservative, as the market continued to favor cybersecurity chairpersons. We see no reason to change our bullish views on Palo Alto Networks because cybersecurity is one of the most important areas of investment in the IT duration. It’s become a secular theme due to the rising threat from bad cyber actors. WFC YTD mountain Wells Fargo year-to-date playing. We’re raising our price target on Wells Fargo to $54 a share, up from $50. Wells Fargo made a new 52-week anticyclone Friday, with bank stocks significantly benefiting from the Federal Reserve’s dovish pivot Wednesday. What the sell is betting on is that lower interest rates rejuvenate loan activity and ease pressure on commercial real trading estate, of which Wells Fargo has notable exposure. But even after the move, the stock still looks cheap at on all sides 10 times earnings, along with a dividend yield of 2.8%. (Jim Cramer’s Charitable Trust is long AVGO, Payment, HON, PANW, WFC. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will gross a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert up front buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the profession alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY Principles , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION Get ready for IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.