Top Consumer Stocks
Consumer stocks surged after new data indicated 2018 holiday season sales rose to their best levels in six years. At last look, shares of consumer staples companies in the S&P 500 climbed nearly 1.8% this afternoon while shares of consumer discretionary firms in the S&P 500 were ahead over 4.9%.
Among consumer stocks moving on news:
(+) Tesla ( TSLA ) climbed over 8% on Wednesday after analysts at Wedbush set a $440 price target for the electric car manufacturer, representing a 37% gain over the next 12 months from current levels. The Wedbush analysts also reiterated their outperform rating for the company's stock.
In other sector news:
(+) Roku ( ROKU ) was trading 9% higher this afternoon, after Needham & Co named the video-access application its "Top Pick" for 2019 while maintaining a buy rating and a $45 price target for the company's stock.
(+) Amazon.com ( AMZN ) was almost 7% higher after saying sales during the current holiday season were its best ever, although the online retailer did not provide specific sales totals.
(+) JD.com ( JD ) climbed almost 5% higher at one point during Wednesday trading after the Chinese ecommerce platform began a new stock buyback program to repurchase up to $1 billion of its common shares over the next 12 months.
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