Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our website policy prior to making financial decisions.
As markets continue to fluctuate, investors are keeping a close eye on several key stocks, including tech giant Nvidia (NASDAQ: NVDA), lithium producer Albemarle (NYSE: ALB), and banking powerhouse Citigroup (NYSE: C).
Nvidia (NVDA) Continues Upward Momentum, Analysts Increase Price Target
Nvidia’s stock continues its impressive rally, surging 2.49% to $131.39 in morning trading. The chipmaker has seen its shares skyrocket 165.37% year-to-date, fueled by strong demand for its AI-enabled products. KeyBanc recently raised its price target for Nvidia to $180 from $130, marking the seventh analyst to boost projections in July alone.Analysts are particularly bullish on Nvidia’s next-generation Blackwell AI chips, with some forecasting $200 billion in AI-chip sales next year. The company’s market cap has swelled to $3.232 trillion, reflecting investor confidence in its long-term growth prospects.
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Albemarle (ALB) Faces Headwinds, Market Conditions Weigh in on the Lithium Stock
Albemarle, a leading lithium producer, is facing headwinds as concerns over market conditions and pricing weigh on investor sentiment. The stock is down 6.33% to $92.87 in the current session, continuing a challenging year that has seen shares decline 35.28% year-to-date.
Robert W. Baird recently lowered its price target for Albemarle to $127.00 from $170.00, though it maintained an “outperform” rating. Despite the reduced target, this still represents a potential upside of 34.99% from the previous close. Analysts maintain a consensus “Hold” rating on the stock, with an average price target of $154.26.
Citigroup (C) Stock Gains Ahead of Q2 Results
Citigroup’s stock is breaking out ahead of its Q2 earnings report, scheduled for July 14. Shares are up 2.70% to $66.49 in current trading, bringing its year-to-date gains to an impressive 31.62%. The banking giant has a history of beating earnings estimates, and analysts are predicting a robust Q2 report despite challenges in the broader financial sector.While revenue is expected to decline from Q1 levels, Citigroup’s investment banking and personal banking units are showing solid performance. The stock’s current price remains below the average analyst target of $68.02, suggesting potential upside. However, investors should be mindful of concerns over rising credit charges and the inherent volatility in the trading segment.
Disclaimer: The author does not hold or have a position in any securities discussed in the article.
The post Stocks to Watch Today: Citigroup, Nvidia, and Albemarle appeared first on Tokenist.