Market Update Newsletter 1/4/23

Markets closed lower yesterday on the first day of trading in 2023. The market is opening slightly up this morning. Bitcoin is sitting at $16,800 ish.

Stocks to Watch

Microsoft (MSFT) had its rating lowered and its price target cut from $300 to $250. A slowdown in the cloud and global economic headwinds could hit PC demands.

Honeywell (HON) was downgraded to sell. Is this a good call? Global slowdown and inflation looming but this name is usually something on the defensive end. How much farther are we going down? I think it's becoming more attractive.

Target (TGT) lowered to equal weight from overweight (hold from buy). The price target was lowered to $142 from $170. High inflation and lower consumer spending might support this.

Apple's (AAPL) price target was lowered by Wedbush. China is actually opening up after failing miserably with their 0 Covid policy. Is lowering the right move here?

Happy Investing!

The Punkrock Capitalist