Daily Update - Dec 29, 2022

Selected highlights of the day

By: Matthew Otto

Despite the holiday period, there is still some information to be gleaned from today’s market.

Morgan Stanley lowers expectations on the Tesla and CarMax

  • Despite being the biggest optimist on Tesla’s stock, Morgan Stanley analyst Adam Jonas has lowered his price target to $250 from $330, Jonas carried a previous forecast of $433 at the beginning of the year, in 2021 his bullish stance had been very successful. Despite this adjustment in expectations, he still carries an Overweight rating for Elon Musk’s electric vehicle juggernaut.
  • Another stock Jonas sees potential with is CarMax for which he maintains an Overweight rating, though he has dropped the price target from $90 to $75.


TG Therapeutics gets mixed reviews

  • HC Wainwright’s analyst Edward White has expressed confidence in TG Therapeutics, upgrading the stock to a Buy rating and increasing his price target from $19 to $24. Despite a major downturn in share price, White remained confident about the stock’s future and kept his buy recommendation on it for 2021. He was also optimistic enough to set an ambitious $89 target in April 2021 while it dropped from $53 down to just $4 in the last two years.
  • BAML Securities analyst Alec Stranahan has given an Underperform rating to TGTX and increased the price target from $5 to $6.


Raymond James analyst C. Gregory Peters believes the stock of Arthur J. Gallagher is on a bullish trend

  • Peters upgraded it to Strong Buy, boosting his price target from $205 to $215 . Since his positive forecast in 2014, when the shares were valued at just over $39 apiece, the analyst stock forecasts have seen success as they continue their steady ascent upwards.
  • Peters also gave Willis Towers Watson an endorsement with an upgraded Strong Buy rating and increased his price target from $250 to $280.



  • Has long been maintained at Buy by Roth Capital analyst Gerry Sweeney, who is lowering his price target from $20 to $17. Sweeney kept a positive outlook on the company since initiating coverage in 2015 – way before Limoneira hit its current stock prices.


Conagra Brands

  • Evercore ISI Group analyst David Palmer continues eight years track record to display his confidence in Conagra Brands with an ‘Outperform’ rating and raising his price target from $40 to $42.