For CapitolTrades.comJohn Curtis, the US representative for Utah’s 3rd congressional district, recently purchased shares of Advanced Micro Devices (NASDAQ:AMD). Meanwhile, Congressman Curtis sold shares of Bank of America (New York Stock Exchange: BAC) and JPMorgan Chase & Co. (New York Stock Exchange: JPM).
According to the data, Curtis bought and sold these shares on December 20, 2022. Meanwhile, these transactions ranged in size from $1-$15K.
let’s take advantage TipRanks data to find out what’s in the offing for AMD, BAC and JPM.
What is the future of AMD stock?
Shares of chipmaker AMD have fallen more than 48% in a year, reflecting inventory problems and weak demand due to the negative impact of inflation and high interest rates on consumer spending. Given the continuum weak PC shipments and price pressure, AMD shares could continue to face challenges in the near term.
However, most Wall Street analysts remain bullish on AMD stock. It has received 17 Buy recommendations and six Hold recommendations for a Moderate Buy consensus rating. KeyBanc Analyst John Vinh It lowered its price target on AMD shares to $80 from $85. The analyst expects weakness in most end markets, mainly in the automotive and industrial sectors, to continue to be a drag in the near term. However, Vinh believes that AMD is well positioned to meet the challenges in the near term. He maintains a Buy recommendation.
on TipRanks, AMD price target $83.03 implies an upside potential of 17.27%.
While analysts are cautiously optimistic about this long cloak values, Hedge Funds sold 1.4 million shares of AMD Last room. Overall, AMD’s smart score of four implies a neutral outlook.
Is Bank of America a Buy, Sell or Hold?
Bank of America stocks have a Moderate Buy consensus rating on TipRanks. He banking giant He has seven buys and five holds. Additionally, the average analyst price target of $40.63 implies 17.87% upside potential.
Deutsche Bank analyst Matt O’Connor recently demoted BAC shares to hold and reduce his price target to $36 from $45. O’Connor expects a weak macroeconomic environment to cause bookings to rise and hurt earnings. Also, he sees a downside risk from a valuation perspective in the event of a recession.
While O’Connor sees challenges ahead, hedge funds have been piling on BAC shares. In the last three months, hedge funds bought 14.6 million shares of BAC. Bank of America stocks have a smart score of over nine.
Is JPM a buy or sell?
On TipRanks, JPM stock has a Moderate Buy consensus rating based on nine Buys and five Holds. Are analyst average price target of $147.86 implies a 6% upside potential.
Like BAC, O’Connor downgraded JPM’s shares, citing challenges ahead. The analyst highlighted “ongoing macro risks” and “weakening banking fundamentals” as reasons for the downgrade.
Our data shows that hedge funds have reduced their exposure to JPM shares. Them sold 778.4K JPM shares Last room. Overall, JPM shares have a Neutral Smart Score of seven.
Bottom line
It could be to the advantage of retail investors to closely monitor the operations of politicians. In addition, investors can use TipRanks Expert Center to make informed buy and sell calls. As for AMD, BAC and JPM, near-term macro headwinds could pose challenges and limit upside potential.
