Good riddance, 2022. Tuesday officially marked the start of a new year on Wall Street, and while there is no guarantee 2023 will be a great one for stocks, for now it’s nice to turn the page on the worst year since 2008 . After recently highlighting Club holdings that analysts tapped as their top picks for 2023, we wanted to take the Street’s temperature on our stocks in a different way. So, we screened our portfolio to find the holdings that are rated buy or overweight by at least 75% of relevant analysts, and also have a 15% upside to those analysts’ average price target based on where the stock closed on the final trading day of 2022. These are the 10 stocks that match our specific criteria, according to data from FactSet, in order from the highest-to-lowest percentage of buy or overweight ratings: Amazon (AMZN) Alphabet (GOOGL) Microsoft (MSFT) Halliburton (HAL) Walt Disney (DIS) Humana (HUM) Wells Fargo (WFC) Salesforce (CRM) Constellation Brands (STZ) Advanced Micro Devices (AMD) Amazon Percentage of analysts with a buy/overweight rating: 92% Upside to average price target: 60.9% Analysts expect Amazon to bounce back in a big way after shares tumbled nearly 50% last year. We’ve continued to stay invested in the ecommerce and cloud-computing giant, but have been clear about what we need to see from management in the coming months — namely, more robust discipline on costs. That’s key for Amazon shares to make a meaningful move higher in the face of growing recession fears. Alphabet Percentage of analysts with a buy/overweight rating: 92% Upside to average price target: 40.1% Like with Amazon, the Street continues to stand with Google parent Alphabet, despite a 39.1% decline in its share price in 2022. Similar to Amazon, we want to see Alphabet rationalize its hiring and spending because its main source of revenue — advertising — remains pressured by mounting economic headwinds. Microsoft Percentage of analysts with a buy/overweight rating: 92% Upside to average price target: 22.2% Microsoft — the third mega-cap tech stock to make the list — is also well-liked by analysts following a year in which shares tumbled nearly 29%. Microsoft is one of the best-run companies out there, which allows us to see through any near-term macroeconomic challenges and focus on its long-term growth prospects, particularly in enterprise cloud computing. We may be looking to book some profits if the stock climbs toward the $300 level, after ending 2022 around $240 per share. Halliburton Percentage of analysts with a buy/overweight rating: 86% Upside to average price target: 16.8% Halliburton was a big winner last year, climbing 72% in 2022, and the vast majority of analysts who cover the company believe it can go even higher, even if gains are more muted this year. While day-to-day oil price fluctuations may at times test our conviction in our energy investments — West Texas Intermediate crude closed down more than 3.7% Tuesday — Halliburton’s multiyear growth story remains intact. We also believe it boasts pricing power, a key attribute for this current economic environment . Walt Disney Percentage of analysts with a buy/overweight rating: 82% Upside to average price target: 37.7% Analysts expect some magic to return to Disney following a miserable 44% slide in 2022. We hope so, too, now that Bob Iger is back as CEO . Iger should help steady the ship, especially on Disney’s money-losing streaming side. Humana Percentage of analysts with a buy/overweight rating: 80% Upside to average price target: 19.5% Humana is the only Club holding besides Halliburton to post share gains in 2022 and land on Tuesday’s top-10 screen. Many of the same factors that fueled Humana’s outperformance last year, with the stock rising 10.4%, are still relevant and explain why we added to our position in the health insurer earlier Tuesday . Those reasons include a lack of economic sensitivity and limited exposure to the strong U.S. dollar . Wells Fargo Percentage of analysts with a buy/overweight rating: 79% Upside to average price target: 30.9% Despite fears of a U.S. recession on the horizon, most analysts view Wells Fargo favorably. The bank’s shares outperformed the S & P 500 last year, falling only 13.9% compared with the index’s roughly 19% slide. Even as we await the full dissipation of the regulatory cloud that hovers over Wells Fargo , it’s one of the best-capitalized banks in the U.S. and poised to benefit from higher interest rates. Salesforce Percentage of analysts with a buy/overweight rating: 78% Upside to average price target: 47.2% Add Salesforce to the list of beaten-up tech stocks that most analysts expect to recover in 2023. Salesforce shares fell almost 48% last year, a steep decline we admittedly didn’t expect. We’ll be looking to see if the value-creation potential that activist investor Starboard sees in Salesforce starts to materialize in 2023, while Mark Benioff resumes his prior role as sole CEO . Constellation Brands Percentage of analysts with a buy/overweight rating: 78% Upside to average price target: 18.8% The maker of Corona and Modelo beer also held up much better than the S & P in 2022, declining only 7.7%. We still believe Constellation’s business should prove relatively durable in an economic slowdown, and added to our position right before the holidays. Advanced Micro Devices Percentage of analysts with a buy/overweight rating: 76% Upside to average price target: 35.7% Of the 10 stocks on this list, AMD saw the biggest decline in 2022. The chipmaker’s shares sank 55%. However, most analysts expect its fortunes to improve this year, after having been weighed down by soft demand in end markets like PCs. The chip industry does not seem to be out of the woods yet , but we’re continuing to back AMD over the long term. (See here for a full list of the stocks in Jim Cramer’s Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
Packages move along a conveyor belt at an Amazon Fulfillment center on Cyber Monday in Robbinsville, New Jersey, on Monday, Nov. 28, 2022.
Stephanie Keith | Bloomberg | Getty Images
Good riddance, 2022.
Tuesday officially marked the start of a new year on Wall Street, and while there is no guarantee 2023 will be a great one for stocks, for now it’s nice to turn the page on the worst year since 2008.
Rivian will power its DC fast-charging network with renewable energy company RWE’s Champion Wind farm in Texas.
The two companies just signed a 15-year power purchase agreement (PPA) for electricity from RWE’s repowered Champion Wind in Nolan and Mitchell counties, west of Abilene.
The 127-megawatt (MW) Champion Wind is getting new turbine nacelles and blades, which will extend the wind farm’s lifespan. Originally commissioned in 2008, the wind farm is expected to be fully upgraded by mid-2025. When the wind farm is back online, it’ll be capable of generating enough electricity to power nearly 1 billion miles of renewable driving every year for Rivian, or the equivalent of powering 36,000 homes annually in Texas.
This wind power is set to support Rivian’s DC fast-charging Adventure Network with renewable energy. Rivian has set a specific goal to enable 7 billion miles of renewable driving.
Paul Frey, Rivian’s VP of propulsion, charging & adventure products, said, “Champion Wind is a powerful enabler for Rivian drivers to become active participants in building a cleaner grid every time they charge their vehicle. This project shows the potential to meaningfully decarbonize the grid and support a more circular economy through reuse and recovery of existing infrastructure, all while maintaining highly competitive economics.”
Siemens Gamesa is supplying 41 turbines with new nacelles and blades on existing towers. The nacelles and blades are being manufactured in the US. In addition, as part of the repowering project, six new Siemens Gamesa turbines rated at 3.1 MW each will also be added to the wind farm.
The decommissioned wind turbine blades from Champion will be repurposed. RWE is working with REGEN Fiber, an Iowa-based company that recycles wind turbine blades to make reinforcement fibers for the construction industry. Those fibers are then used in concrete to add strength and durability, extending the lifespan of infrastructure.
RWE is the third-largest renewable energy company in the US.
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Rivian is bringing back its “All-Electric upgrade offer” from now until November 30th, but with some changes to the program.
Earlier this year, Rivian offered $1k-$5k off a new Rivian if you trade in an old gas car, from April to June. The offer was available for specific vehicles, and with a sliding discount scale based on which Rivian vehicle you order.
Now the program has come back, but with quite a few changes from the previous version.
As of today, October 31, if you buy a new Rivian R1T or R1S new inventory vehicle from the R1 Shop, you can get a $3,000 discount if you also prove that you own or lease a qualifying gas-powered vehicle.
This is simultaneously simpler, more lenient, and more restrictive than the previous offer, in various ways.
First, the discount is a flat $3k (or $4,100 CAD), rather than having a scale based on what model you order, which is more streamlined.
Second, the discount applies to every gas or hybrid vehicle owner – you don’t have to trade in your vehicle, and you’re not limited to a specific list of vehicles. Just prove that you own or lease a gas car (copy of registration, proof of insurance, etc), and you get the discount.
However, third, it’s more restrictive as to what vehicles you can purchase. The current offer applies only to Rivian new inventory vehicles in the R1 Shop, and excludes demo vehicles, pre-owned vehicles, or custom build vehicles. It also does not apply to Rivian’s base Dual Standard models, but everything else is fair game.
In order to qualify, you need to place your order between today and November 30, and you must take delivery of the vehicle before December 31. Check out all the specifics of the offer on Rivian’s site here.
Electrek’s Take
Rivian is clearly trying to round out its yearly numbers with this offer, as the market for pricy cars is somewhat soft with increased interest rates. It just slightly lowered its annual delivery guidance, now planning to see roughly similar deliveries this year than last.
But its R1 vehicles just got a huge refresh to help the company with costs and to offer new features. The R1S is still one of the most popular high-priced vehicles in the US, and the company’s products earn universal acclaim from owners.
The interesting thing is that Rivian had a similar offer earlier this year, before the refresh, to help clear out inventory of older vehicles. It didn’t see it fit to offer the discount last quarter, perhaps buoyed by the updated model, but after a rough Q3 of deliveries it now brought the offer back.
Rivian is still guiding to reach a slight gross profit in Q4, though we’re sure we’ll hear more about that in its upcoming quarterly earnings next week.
If our coverage of Rivian has helped inform you about the brand, feel free to use our Rivian referral code to get 6 months of free charging or 750 Rivian Rewards points with your purchase.
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Hyundai’s new low-cost EV is getting a bold design upgrade. The Hyundai Casper EV Cross was spotted for the first time in public, revealing new design elements.
Although we knew a rugged “Cross” variant was headed to Europe, this was the first time the domestic model was spotted with an upgraded design.
The Inster EV is Hyundai’s overseas version of its domestic Casper Electric model. In Korea, Hyundai’s Casper EV starts at around $20,000 (27.4 million won). Hyundai said its new EV can be bought for under $8,000 (10 million won) with subsidies.
In Europe, it starts at under $27,000 (25,000 euros). The Cross variant is built for “those looking for an EV with a more adventurous look,” Hyundai said.
Although it offers the same versatility as the standard model, the Inster EV Cross gains rugged design elements, including new front and rear bumpers, black claddings, skid plates, a roof rack, and more.
Here’s our first look at the Hyundai Casper EV Cross
After a rugged new variant with the Casper EV logo was spotted in Korea for the first time, a Cross model is expected to debut shortly.
The new video from HealerTV reveals added design elements, including the roof rack and more aggressive black trim.
The reporter notes that the Hyundai Casper EV Cross has a “much more mechanical and futuristic feel than the existing model.”
It almost appears “robot-like” with an added off-road feel. The Inster EV Cross gets up to 223 mi (360 km) WLTP driving range. In Korea, the Casper Electric is rated with up to 195 miles (315 km) driving range.
Although Hyundai Casper (Inster) EV is not expected to launch in the US, the low-cost model was spotted driving in California for the first time this month.
In the meantime, off-road fans can get in line for Hyundai’s upgraded 2025 IONIQ 5, which will be available with a rugged XRT trim. The 2025 IONIQ 5 XRT model was also recently caught testing ahead of deliveries.
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