Procter and Gamble increased full-year 2023 guidance due to bullish data coming out of China.  

Nobias Insights: 66% of recent articles published by credible authors focused on Procter and Gamble shares offer a “bullish” bias.  Two out of the three credible Wall Street analysts who cover PG offer a “bullish” outlook.  The average price target being applied to PG by these credible analysts is $157.00, which implies upside potential of approximately 9.8% relative to the stock’s current share price of $142.97.

Bullish Take: Robert Abbott, a Nobias 4-star rated author, said, “Procter & Gamble has been profitable for all 10 years of the past decade. That reflects its industry-leading operating and net margins of 22.03% and 18.11% respectively.”

Bearish Take: Shawn Johnson, a Nobias 4-star rated author, said, “At a roughly 15% premium compared to the 3% discount to the average consumer defensive sector, the consumer goods company is still one of the more highly valued stocks in the sector”

After 2022, a year in which Netflix posted net subscriber losses for the first time, the company provided strong growth guidance for 2023.  

Nobias Insights: 51% of recent articles published by credible authors focused on Netflix shares offer a “bearish” bias. while  4 out of the 6 credible credible Wall Street analysts who cover NFLX offer a “bullish” outlook.  Yet, the average price target being applied to NFLX by these credible analysts is $361.17 which implies upside potential of less than 10% relative to the stock’s current share price of $342.50. 

Bullish Take: Nobias 4-star rated author, Patrick Seitz, said, “The streaming video leader late Thursday said it added 7.66 million new subscribers worldwide in the December quarter, ending the year with 230.75 million total subscribers.

Bearish Take: Alex Sherman, a Nobias 4-star rated author said, “For the past three years, the global media and entertainment industry has been defined by the streaming wars. Each media company created a streaming service to compete. Only the strongest would survive, the narrative went. The losers would consolidate or die.”

JPMorgan’s quarterly data showed that a consumer slowdown hasn’t occurred yet, with credit card spending up 12% and overall loans on cards up 20% on a year-over-year basis.  

Nobias Insights: 55% of recent articles published by credible authors focused on JPM shares offer a “Neutral” bias.  4 out of the 7 credible credible Wall Street analysts who cover JPMorgan believe shares are likely to fall in value. Yet, the average price target being applied to JPM by these credible analysts is $139.57, which implies upside potential of approximately 3.3% relative to the stock’s current share price of $135.08.

Bullish Take: Harrison Miller, a Nobias 4-star rated author, said, “JPMorgan earnings rose 7% to $3.57 per share and reported revenue grew 18% to $34.5 billion.”

Bearish Take: AJ Fabino, a Nobias 5-star rated author, said, “As interest rates rise, banks may also experience an increase in defaults on loans — this is why most of them are increasing provisions for defaults and delinquencies.”

Strong net interest income (bolstered by higher rates) and Bank of America’s more diversified loan book have helped this stock to outperform its peers over the last 6 months.

Nobias Insights: 57% of recent articles published by credible authors focused on BAC shares offer a “Bullish” bias. Furthermore, the average price target being applied to Bank of America shares by the credible analysts that the Nobias algorithm tracks is $43.50 which implies upside potential of approximately 23.5% relative to the stock’s current share price of $35.23.  

Bullish Take: Growth at a Good Price, a Nobias 4-star rated author, said: “I added heavily to my Bank of America position last year, and I have no plans to stop this year. Bank of America Corporation definitely is a solid pick to consider for 2023.”

Bearish Take: Chris Lau, a Nobias 4-star rated author said, “The FOMC cut its GDP growth targets for 2023. It expects the GDP will grow by only 0.5%, as shown below. The negligible growth forecast is as good as predicting a mild recession next year, followed by a rebound from 2024 to 2025.”

Wells Fargo continues to deal with the fallout from its scandalous past, with 5-star Nobias author, John Foley, noting that “the total notional cost of Wells Fargo’s misconduct” has not exceeded $100 billion.  

Nobias Insights: 55% of recent articles published by credible authors focused on WFC shares offer a “bullish” bias. Furthermore, all three credible Wall Street analysts who recently covered Wells Fargo believe the share price is likely to rise. The average price target applied to WFC by credible analysts is $51.33, implying upside potential of approximately 16.1% relative to the stock’s current share price of $44.22.   

Bullish Take: John Reosti, a Nobias 4-star rated author, said: “The firm pulled in a record $13.4 billion in net interest income in the quarter, surpassing analyst expectations. The 45% rise from a year earlier shows the dramatic impact of the Federal Reserve's interest rate hikes on Wells Fargo's bottom line.”

Bearish Take: Giles Gwinnett, a Nobias 4-star rated author, said, “In the three months to end-December, the US's fourth largest lender posted a profit of US$0.67 per share, compared to US$1.38 per share in the fourth quarter of 2021.”

Taiwan Semiconductor continues to outperform its peers in the semiconductor industry and the company’s recent announcement for plans to produce 3nm chips points towards continued technological superiority.  

Nobias Insights: 67% of recent articles published by credible authors focused on TSM shares offer a “Bullish” bias. Three out of the four credible Wall Street analysts who cover Taiwan Semiconductor believe shares are likely to rise in value. The average price target applied to TSM by credible analysts is $88.50, which implies a small upside potential of 3.0% relative to the current share price of $86.80.  

Bullish Take: Patrick Seitz, a Nobias 4-star rated author, said: “TSMC is leading the race to make chips with ever smaller circuits.”
Bearish Take: Growth at a Good Price, a Nobias 4-star rated author, said, “If you choose to invest in Taiwan Semiconductor Manufacturing, there is one risk you'll want to watch out for: Geopolitical risk.”

Intel plans to open up the world's largest chip making facility in Ohio in the coming years, bringing back much needed domestic production of high-end semiconductors.  
Nobias Insights: 47% of recent articles published by credible authors focused on INTC shares express a “Bearish” bias.  7 out of the 13 credible credible Wall Street analysts who cover Intel believe shares are likely to fall in value.  However, amongst these 13 credible individuals, the average price target being applied to INTC is $37.25, which implies upside potential of approximately 29.7% relative to INTC’s current share price of $28.76.  

Bullish Take: Lee Jackson, a Nobias 4-star rated author, said: “This legacy leader in semiconductors has been hammered, and while some feel it is a value trap, it is hard to count out the company that defined the semiconductor revolution.”
Bearish Take: Rob Starks Jr., a Nobias 5-star rated author, said, “Because Intel's management fumbled the ball the last several years, Advanced Micro Devices (AMD) caught up; AMD is now eating Intel's lunch in the data center space, and gaining market share.”

Nobias Insights: 50% of recent articles published by credible authors focused on WBA shares offer a “Bearish” bias.  However, the average price target being applied to WBA shares by the credible analysts that the Nobias algorithm tracks is $40.67, which implies upside potential of approximately 12.2% relative to WBA’s current share price of $36.44.  

Bullish Take: Gen Alpha, a Nobias 5-star rated author, said, “I continue to find WBA to be attractive at the current price of $39, with a forward PE of just 8.7, sitting well below its long-term normal P/E of 15.7.”

Bearish Take: Mark Roussin, a Nobias 4-star rated author, said, “2023 is expected to be a year of growth for WBA, as analysts expect the company to continue reinvesting in the business, and earnings are expected to fall.”

Nobias Insights: 59% of recent articles published by credible authors focused on Amazon shares offer a “Bullish” bias.  14 out of the 15 credible credible Wall Street analysts who cover AMZN believe shares are likely to rise in value.  The average price target being applied to Amazon by these credible analysts is $171.21, which implies upside potential of approximately 103.8% relative to Amazon’s current share price of $84.00.  

Bullish Take: Rob Starks Jr., a Nobias 5-star rated author, said: “Amazon sells for a price-to-sales (P/S) ratio of 1.7; the last time it traded at a P/S ratio this low was in 2015. As a result, many investors consider the stock undervalued, a holiday present for investors looking for a solid "buy the dip" opportunity.”

Bearish Take: Luc Olinga, a Nobias 4-star rated author, said, “The numbers speak for themselves: The Amazon stock closed the December 22 trading session at $83.79, which represents a 49.7% drop compared to December 31, 2021. This is the lowest closing level for the Amazon stock since March 12, 2019. Basically, the group, founded by Jeff Bezos, has completely erased all the gains during the two years when strict restrictions were put in place to limit the spread of COVID-19.

Nobias Insights: 67% of recent articles published by credible authors focused on JNJ shares offer a “Bullish” bias.  4 out of the 5 credible credible Wall Street analysts who cover Johnson and Johnson believe shares are likely to rise in value.  The average price target being applied to JNJ by these credible analysts is $192.40, which implies upside potential of approximately 8.7% relative to JNJ’s current share price of $177.56.  
Bullish Take: Mark Roussin, a Nobias 4-star rated author, said: “JNJ is a dividend king with strong portfolio of products and a rare AAA credit rating, making an investment in JNJ about as reliable as they come.”
Bearish Take: Jonathan Block, a Nobias 4-star rated author, said, “Johnson & Johnson (NYSE:JNJ) has had a modest year and is up just 3%.”

Nobias Insights: 50% of recent articles published by credible authors focused on AAPL shares offer a “Neutral” bias.  However, 11 out of the 13 credible credible Wall Street analysts who cover Apple believe shares are likely to rise in value.  The average price target being applied to Apple by these credible analysts is $186.82, which implies upside potential of approximately 45.5% relative to Apple’s current share price of $128.42.  
Bullish Take: Harsh Chauhan, a Nobias 4-star rated author, said: “In fiscal 2022 (which ended on Sept. 24, 2022), Apple reported services revenue of $78 billion. The segment's revenue jumped 14% year over year and accounted for nearly 20% of the company's top line.”
Bearish Take: Patrick Seitz, a Nobias 4-star rated author, said, “Apple's production and supply issues related to iPhone 14 Pro handsets led many analysts to slash their sales and earnings forecasts for the company's December quarter.”

Nobias Insights: 50% of recent articles published by credible authors focused on FDX shares offer a “Neutral” bias.  However, 5 out of the 7 credible credible Wall Street analysts who cover FedEx believe shares are likely to rise in value.  The average price target being applied to FDX by these credible analysts is $198.57, which implies 12.2% upside potential compared to the stock’s current price of $176.95. 

Bullish Take: Bascome Majors of Susquehanna, a Nobias 4-star rated analyst, said: “Its results and outlook more convincingly support a cycle EPS floor of at least $13.00, with investor focus gradually shifting from downside risk to cyclical opportunity deeper into 2023.”  

Bearish Take: Mark Solomon, a Nobias 4-star rated author, said, “FedEx Express’ operating income plummeted to $186 million from $660 million in the fiscal 2022 first quarter.”