{
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KeyCorp maintained a "sector weight" rating on EastGroup Properties, while Robert W. Baird raised its price target to $194 with an "outperform" rating. Truist Financial increased its target to $180, giving a "hold" rating, and StockNews.com upgraded the stock to "hold." Analysts show a consensus of "Moderate Buy" with a target price of $191.65. EastGroup Properties, a real estate investment trust focused on industrial properties in the Sunbelt, recently reported earnings of $2.15 per share, exceeding estimates, and declared a quarterly dividend of $1.40 per share.
KeyCorp upgraded First Industrial Realty Trust to a "sector weight" rating, while Robert W. Baird raised its price target to $61.00 with an "outperform" rating. Analysts show a consensus rating of "Moderate Buy" with a target price of $58.31, as institutional investors increase their stakes in the company. First Industrial Realty Trust recently reported a quarterly EPS of $0.71, exceeding estimates, and announced a dividend increase to $0.445 per share, reflecting a yield of 3.23%.
The Nasdaq index has fallen to its lowest point since September, with major tech stocks losing a staggering $2.7 trillion in market value over three weeks. This decline, driven by fears of a trade war following President Trump's tariff announcements, has hit the largest US tech firms hard, with Nvidia, Apple, and Microsoft experiencing the most significant losses. The Nasdaq is down 4.9% for the week, on track for its worst performance in six months, with Goldman Sachs labeling the sector the “Maleficent 7.”
UBS has raised its price target for Aveanna Healthcare Holdings Inc to $4.50 from $3.20 while maintaining a Sell rating. Despite trading at $5.31 and a recent 33.5% gain, the company reported a negative EPS of -$0.34 over the last year, though it exceeded revenue expectations in Q4 2024 with $519.9 million. Aveanna's full-year revenue reached $2.024 billion, reflecting a 6.8% increase, driven by a 10.1% growth in its Private Duty Services segment.
The US Office of the Comptroller of the Currency (OCC) has issued new guidelines permitting national banks to engage in specific cryptocurrency activities without prior regulatory approval. This includes crypto-asset custody, stablecoin operations, and participation in distributed ledger networks, provided banks implement robust risk management practices.This shift aligns with a recent White House crypto summit and an executive order by President Trump, reversing the stricter oversight previously emphasized by the Biden administration. The OCC has also retracted earlier consensus statements that warned about crypto volatility and potential scrutiny, thereby easing restrictions while underscoring the importance of internal risk controls.
President Trump's administration, through the Department of Government Efficiency (DOGE) led by Elon Musk, is attempting significant government cuts without direct voter accountability, raising concerns among fiscal conservatives about bypassing Congress. While some Republican senators are urging Musk to seek congressional approval for cuts, the initiative reflects a broader push for a corporate-style governance approach, which may disrupt traditional legislative processes. Critics warn that this could undermine Congress's role in spending decisions, potentially leading to voter backlash against the administration's aggressive cost-cutting measures.
Mike Myers returned to 'Saturday Night Live' as Elon Musk, humorously referencing his iconic character Dr. Evil during the March 8 episode. The sketch featured a comedic exchange about Musk's influence in politics, with Myers portraying Musk's concerns over his declining net worth and Tesla's stock performance. The episode also included political commentary on recent statements made by Donald Trump regarding his administration's achievements and spending priorities.
Growing discontent within the Republican camp is emerging over Elon Musk's job cuts, which have contributed to a rise in the unemployment rate to 4.1%. In February, only 151,000 jobs were created, falling short of expectations, while federal job cuts have led to significant layoffs in the civil service. Treasury Secretary Scott Bessent warns of a necessary adjustment as the economy shifts from public to private spending, amid increasing uncertainty for government subcontractors facing contract cancellations.
Bank of America will pay a quarterly dividend of $0.26 on March 28, with an ex-dividend date of March 7. The company has a dividend payout ratio of 32.30% and an annualized dividend yield of 2.51%. Analysts have mixed ratings on the stock, with a consensus price target of $48.64.
UBS has upgraded Jazz Pharmaceuticals' stock rating from Neutral to Buy, raising the price target to $179 from $145, citing confidence in the company's base business and the Ziihera pipeline. The firm anticipates a 7.0x P/E multiple, supported by strong earnings projections and a robust financial health score. Jazz reported Q4 2024 earnings of $6.60 per share, exceeding expectations, and plans to acquire Chimerix for $935 million, aligning with its promising treatment pipeline.
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