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Raymond James analyst Tim Thein upgraded Cummins (NYSE: CMI) stock to outperform with a $585 price target this morning.
The engine-maker is up 44% already this year, but Thein says he still sees “a compelling risk/reward trade-off with” as much as 20% upside if truck markets recover, versus limited downside if truck production weakens further.
Cummins shares are up more than 2% on the endorsement, while the Voo gains 0.6%.
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Visions of sugarplums may be dancing in others’ heads, but investment bank Jefferies is still thinking of nought but stocks this week.
This morning, Jefferies initiated coverage of spy satellite operator BlackSky Technology Inc. (NYSE: BKSY) with a buy rating and a $23 price target of $23.00. BlackSky shares reacted immediately, surging 20% to hit the new price target in mere minutes on no other news but the initiation.
Jefferies says “BlackSky’s unique space based imagery offering provides runway on expanding international adoption, recovery of USG, and a refreshed constellation by YE 2026 supporting 2 to 4X revenue generation.” That appears to mean Jefferies sees 200% to 400% revenue growth next year — an incredible prediction given that most analysts are forecasting much more moderate (but still impressive) 32.5% revenue growth.
No wonder the stock is up!
This article will be updated throughout the day, so check back often for more daily updates.
Another holiday-shortened trading week begins today, and the Vanguard S&P 500 ETF (NYSEMKT: VOO) is feeling the Christmas spirit. The ETF opened up 0.6% Monday.
Helping to fuel the rally is again Nvidia (Nasdaq: NVDA), which plans to begin shipments of its H200 AI chip to China in February. Initial orders are said to total anywhere from 40,000 to 80,000 H200 chips. At prices as high as $40,000 per ship, that’s as much as $3.2 billion in revenue for Nvidia, all in one go.
In precious metal news, gold prices are up another 1% at $4,443.10 per ounce today. Silver is up 2.3% to $69.06 per ounce. Gold prices are up 68% so far this year, and silver prices have more than doubled.
And in M&A news, asset manager Janus Henderson (NYSE: JHG) just announced it will sell itself to Trian and General Catalyst for $49 per share cash in a deal valued at $7.4 billion.
Janus stock is up nearly 4% on the news.
Earnings
There’s not a lot happening on the earnings front this week, but this morning office paper supplier Ennis (NYSE: EBF) beat earnings by a penny with $0.42 per share earned in Q3 2025.
Revenue for the quarter was $100.2 million, slightly below estimates, but investors seem in a forgiving mood. Ennis stock is up nearly 3%. versus the consensus estimate of $100.9 million.
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