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BNP Paribas Exane has revised its price target for KKR & Co. Inc. to $170 from $174 while maintaining an outperform rating. KKR operates primarily in two sectors: insurance, which accounts for 59.9% of revenues, and asset management, contributing 40.1%. As of 2023, the firm manages assets totaling USD 552,801 million.
HSBC has upgraded its outlook for PNC Financial Services Group from Hold to Buy as of March 31, 2025. The average one-year price target for PNC is $221.12/share, indicating a potential upside of 25.80% from its recent closing price of $175.77/share. Institutional ownership has increased, with a bullish sentiment reflected in a put/call ratio of 0.81.
Capital Research Global Investors increased its stake in Wells Fargo & Company to 15,734,874 shares valued at $1.1 billion, while Two Sigma Advisers LP grew its position by 730.4% to 5,954,600 shares worth $336 million. Northern Trust Corp raised its holdings by 10.7%, owning 34,339,295 shares valued at $2.4 billion. Institutional investors hold 75.90% of the company's stock, which has a current rating of "Moderate Buy" with an average price target of $74.97.
Arizona State Retirement System increased its stake in Bank of America by 0.5%, owning over 2 million shares valued at $89 million. Keybank National Association OH and Charles Schwab Investment Management also raised their holdings, with institutional investors owning 70.71% of the stock. Bank of America reported a quarterly EPS of $0.82, exceeding estimates, and declared a dividend of $0.26, reflecting a 2.50% yield.
MarketBeat highlights five stocks recommended by top analysts as better buys than JPMorgan Chase & Co., which holds a Moderate Buy rating. Meanwhile, nuclear energy stocks like Cameco Corp and Paladin Energy have surged over 40% in 2024, with potential for further gains. Insider trading at JPMorgan shows significant sales, while institutional investors continue to increase their stakes, with 71.55% of the stock owned by such entities.
JPMorgan Chase & Co. (NYSE:JPM) ranks 7th among the best very cheap stocks to buy according to billionaires, with a forward P/E of approximately 13.2x and 14 billionaire investors backing it. Analysts remain optimistic about its growth potential, driven by investments in technology and a favorable market outlook, particularly in capital markets and M&A advisory. Despite this, some experts suggest that deeply undervalued AI stocks may offer greater returns in a shorter timeframe.
Charles Schwab Investment Management Inc. increased its stake in Reddit to 503,321 shares, valued at $33.2 million, while several firms, including Cerity Partners LLC and Daiwa Securities Group Inc., acquired new positions in the company during the third quarter. Wells Fargo & Company lowered its price target for Reddit from $215 to $158, maintaining an "overweight" rating, while other analysts have varied opinions, with a consensus rating of "Moderate Buy" and an average target price of $163. Reddit's stock opened at $107.57, with a market cap of $19.46 billion.
Hedge funds are rapidly selling off global tech stocks, with U.S. tech making up 75% of the net selling, particularly in semiconductors. This shift, driven by macroeconomic pressures and a bearish outlook, has reduced hedge fund exposure to the tech sector to a five-year low of 16.4%. Concerns over AI valuations and trade tariffs have further fueled the selloff, despite reassurances from Goldman Sachs about the sector's strong fundamentals.
Citigroup Inc. reported a quarterly EPS of $1.34, surpassing estimates, with revenue of $19.58 billion, a 12.3% increase year-over-year. The company declared a quarterly dividend of $0.56, yielding 3.19%, and announced a $20 billion stock repurchase plan. Analysts maintain a "Moderate Buy" rating, with a consensus price target of $84.50.
Hedge funds rapidly sold off tech stocks last week, marking the fastest pace in six months and the highest levels in five years, as concerns over impending tariffs and potential economic recession grew. Goldman Sachs reported that U.S. tech stocks accounted for about 75% of the selling, particularly impacting AI-related hardware companies. This shift has brought hedge fund exposure to tech stocks to a five-year low, following a brief period of buying in mid-March.
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bnp paribas exane lowers kkr price target but maintains outperform rating
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