Jul. 9 at 3:53 PM
Wells Fargo just dropped a massive batch of calls and sells.
What they're upgrading:
-
$RDDT Reddit: PT raised to
$187
-
$MGM MGM Resorts: Upgraded, PT raised from
$33 to
$48
What they're cutting:
-
$CPB Campbell Soup: Underweight
-
$GIS General Mills: Underweight
Wells Fargo’s latest calls show capital rotating away from traditional defensive consumer names and toward companies with stronger growth potential and digital advantages.
RDDT saw its price target raised, driven by the value of its massive community data, advertising potential, and AI search opportunities.
MGM was upgraded as investors look at travel recovery, improving gaming trends, and online betting growth.
Meanwhile, downgrades on CPB and GIS reflect concerns around slower growth, cost pressures, and limited upside in traditional consumer staples.
The market continues rewarding companies with growth, AI leverage, and unique data assets. Do you think RDDT’s data advantage becomes a major AI monetization story, or is the upside already priced in?
