We're increasing our price targets on a handful of positions that have recently made new all-time highs and another that has made a nice comeback. Amazon, Alphabet, Meta Platforms, and the rest of mega-cap tech stocks have been powering the market lately, and we think there is more room to run thanks to their generative artificial intelligence tailwinds and profitability discipline.
Eli Lilly will also continue to run as the most valuable drug company in the world keeps adding reasons to buy the stock beyond its massive diabetes and weight loss portfolio.
Palo Alto Networks, which is the only one not at new highs, has made such a recovery that signals more good times ahead for the cybersecurity leader.
Amazon's e-commerce margins are improving through a reduction in the cost-to-serve and a fast-growing advertising business with some of the highest margins despite increased content investment.
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