Jefferies Financial Group Inc. operates as an investment banking and capital markets firm in the Americas, Europe, the Middle East, and the Asia-Pacific. The company operates in two segments, Investment Banking and Capital Markets, and Asset Management. It provides investment banking, advisory services with respect to mergers or acquisitions, debt financing, restructurings or recapitalizations, and private capital advisory transactions; underwriting and placement services related to corporate debt, municipal bonds, mortgage-backed and asset-backed securities, equity and equity-linked securities, and loan syndication services; and corporate lending services. The company also offers financing, securities lending, and other prime brokerage services; equities research, sales, and trading services; wealth management services; and online foreign exchange trading services. In addition, it provides investment grade distressed debt securities, U.S. and European government and agency securities, municipal bonds, leveraged loans, emerging markets debt, and interest rate and credit index derivative products; and manages and offers services to a diverse group of alternative asset management platforms across a spectrum of investment strategies and asset classes. The company was formerly known as Leucadia National Corporation and changed its name to Jefferies Financial Group Inc. in May 2018. Jefferies Financial Group Inc. was founded in 1962 and is headquartered in New York, New York.

Jefferies Financial Group Inc.

Key Points
UnitedHealth's decision to exit 100-plus Medicare Advantage plans was a prudent move.
The stock could have significant upside potential as its bottom line improves.
One key wild card for UnitedHealth, though, is the ongoing U.S. Department of Justice investigation.
Some might view UnitedHealth Group (NYSE: UNH) as a stock and a company in retreat. UnitedHealth's shares have plunged more than 40% below the high set in the fourth quarter of 2024. The health insurance stock is down almost 30% year to date.
UnitedHealth Group also recently announced that it is exiting over 100 Medicare Advantage plans. Up to 180,000 beneficiaries in 16 states will no longer have access to these plans.
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Where is UnitedHealth Group stock headed after dramatically scaling back its Medicare Advantage plans? Here's my prediction.
Know when to fold 'em
Let me first address UnitedHealth's decision regarding Medicare Advantage. I'm reminded of an old song recorded by the late Kenny Rogers called "The Gambler." Rogers sang about an old professional gambler who imparted wisdom to a younger man. The chorus included the lyrics, "You've got to know when to hold 'em, know when to fold 'em. Know when to walk away. And know when to run."
Applying this poker analogy, I think UnitedHealth knows that the smartest move right now is to fold its cards with respect to these Medicare Advantage plans. When it's too difficult to make money in a market, exiting that market makes sense.
Much of the company's current woes stem from its Medicare Advantage business. UnitedHealth Group suspended its full-year guidance and replaced its CEO earlier this year in large part because of higher-than-expected medical costs with its Medicare Advantage plans.
Importantly, though, UnitedHealth isn't running away from Medicare Advantage. The company's plans will still be available next year to around 94% of all beneficiaries eligible for Medicare. UnitedHealth should also remain the largest Medicare Advantage carrier based on total enrollment.
Where UnitedHealth Group stock is headed
I predict that UnitedHealth Group stock is headed up. By how much is hard to say. However, I think shares could trade at over $400 by this time next year and will likely top $500 within the next three years. If I'm right, UnitedHealth's upside potential is in the ballpark of 36% or more by 2028.
Exiting those 100-plus Medicare Advantage plans is a key ingredient in UnitedHealth's rebound, in my view. So is raising health insurance premiums for the plans the company will continue to offer, not just with Medicare Advantage but also with Medicare Supplement and Part D plans. These are necessary steps for UnitedHealth to improve its bottom line.
I also expect that UnitedHealth Group will right the ship with its Optum business. Optum Health is focused on creating better value-based care products. OptumInsight plans to step up its innovation as it fully recovers from the 2024 cyberattack on Change Healthcare. OptumRx is correcting some issues with a couple of its ancillary businesses.
I'm not the only one who is bullish about UnitedHealth Group. Warren Buffett initiated a significant position in the stock in the second quarter of 2025. So did billionaire David Tepper: UnitedHealth now ranks as the second-largest holding for his Appaloosa hedge fund.
Wall Street is on the UnitedHealth bandwagon, too. Of the 27 analysts surveyed by S&P Global (NYSE: SPGI) in October who cover the stock, 19 rated it as a "buy" or "strong buy." One of these analysts, Jefferies (NYSE: JEF), recently raised its 12-month price target for UnitedHealth from $317 to $409.
The biggest unknown
I'm never completely confident in any prediction that I made because I realize there are always factors that could get in the way. Probably the biggest unknown with UnitedHealth Group is the potential fallout from the ongoing U.S. Department of Justice investigation into its Medicare operations.
My best guess is that this investigation won't ultimately present a major problem for UnitedHealth. The company emerged from a lengthy previous DOJ investigation with a court-appointed Special Master determining that there was no evidence to support allegations of wrongdoing. If the outcome of the current investigation isn't as positive, though, it could weigh on UnitedHealth Group's shares more than I expect.
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Keith Speights has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Jefferies Financial Group and S&P Global. The Motley Fool recommends UnitedHealth Group. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Prediction: Here's Where UnitedHealth Stock Is Headed After Scaling Back Medicare Advantage Plans

The S&P 500 Index ($SPX) (SPY) on Friday closed up +0.53%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.52%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.65%. December E-mini S&P futures (ESZ25) rose +0.55%, and December E-mini Nasdaq futures (NQZ25) rose +0.70%.
Stock index futures recovered from sharp overnight losses and moved higher on Friday as banking worries and trade tensions eased. Solid earnings results from regional banks on Friday lifted market sentiment after Truist Financial and Fifth Third Bancorp reported better-than-expected Q3 earnings. Regional bank stocks had tumbled on Thursday amid concerns about the credit quality of regional banks, sparked by news that Zions Bancorp and Western Alliance Bancorp were victims of fraud involving loans to funds that invest in distressed commercial mortgages.
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Stock indexes also garnered support on Friday as China-US trade tensions eased slightly after President Trump said current tariffs on China were “not sustainable” and affirmed that he will meet with Chinese President Xi Jinping at the end of the month in South Korea. Stocks added to their gains Friday afternoon when Treasury Secretary Bessent expressed optimism that upcoming talks with China’s leaders could yield a broader trade deal.
Dovish comments on Friday from St. Louis Fed President Alberto Musalem were supportive for stocks when he said he estimates current Fed policy to be “somewhere between modestly restrictive and neutral,” and he could support another interest rate cut to bolster a slowing labor market.
The escalation of trade tensions between the US and China, the ongoing US government shutdown, and fears about credit quality in the US have sparked a buying spree in precious metals as a haven, with gold and silver reaching fresh all-time highs on Friday. However, both metals plunged on Friday as the easing of trade tensions and stabilization of bank stocks prompted long liquidation in precious metals.
The shutdown of the US government continues, weighing on market sentiment and delaying key economic reports. The government shutdown means delays in the release of government reports, including the last three weeks of weekly initial unemployment claims, the Aug US trade report, and the Sep payroll report. Last Friday, the Bureau of Labor Statistics (BLS) said the September consumer price report, which was originally scheduled to be released on Wednesday, will be released on October 24. The White House has warned that if the government shutdown lingers, it would trigger widespread dismissals of employees in government programs that don’t align with President Trump’s priorities. Bloomberg Economics estimates that 640,000 federal workers will be furloughed during the shutdown, which would expand jobless claims and push the unemployment rate up to 4.7%.
The markets this week will focus on earnings results as the Q3 earnings season begins. Rising corporate earnings expectations are a bullish backdrop for stocks. According to Bloomberg Intelligence, 78% of the S&P 500 companies that have reported so far have beaten forecasts. Also, more than 22% of companies in the S&P 500 that provided guidance for their Q3 earnings results are expected to beat analysts’ expectations, the highest in a year. However, Q3 profits are expected to have risen by +7.2% y/y, the smallest increase in two years. Also, Q3 sales growth is projected to slow to +5.9% y/y from 6.4% in Q2.
The markets are pricing in a 100% chance of a -25 bp rate cut at the next FOMC meeting on Oct 28-29.
Overseas stock markets settled lower on Friday. The Euro Stoxx 50 closed down -0.79%. China’s Shanghai Composite closed down -1.95%. Japan’s Nikkei Stock 225 closed down -1.44%.
Interest Rates
December 10-year T-notes (ZNZ5) on Friday closed down -9 ticks. The 10-year T-note yield rose +2.8 bp to 4.003%. Dec T-notes fell from a 6.25-month high on Friday and turned lower, and the 10-year T-note yield rebounded from a 6.25-month low of 3.934% and moved higher.
T-notes gave up overnight gains and turned lower on Friday after several regional bank stocks reported better-than-expected Q3 earnings, which eased concerns over credit quality in regional banks, improved market sentiment, and sparked long liquidation in T-notes. Additionally, the easing of US-China trade tensions has curbed safe-haven demand for government debt securities and weighed on T-notes on Friday, following President Trump’s statement that the high tariffs he has threatened to impose on China are unsustainable.
T-notes have support from the ongoing US government shutdown, which could lead to additional job losses, reduced consumer spending, and a weakened US economy, potentially allowing the Fed to continue cutting interest rates. T-notes also garnered support Friday on dovish comments from St. Louis Fed President Alberto Musalem, who said he could support another interest rate cut to bolster a slowing labor market.
European government bond yields on Friday finished higher. The 10-year German bund yield recovered from a 3.5-month low of 2.523% and finished up +1.0 bp to 2.580%. The 10-year UK gilt yield recovered from a 3.5-month low of 4.451% and finished up +3.0 bp to 4.531%.
Eurozone Sep core CPI was revised upward by +0.1 to a 5-month high of 2.4% y/y from the previously reported 2.3% y/y.
ECB Governing Council member Simkus said, “downside risks to both growth and inflation” may require the ECB to lower interest rates further in the months ahead.
Swaps are discounting a 2% chance for a -25 bp rate cut by the ECB at its next policy meeting on October 30.
US Stock Movers
Most of the Magnificent Seven technology stocks rallied on Friday and lent support to the overall market. Tesla (TSLA) closed up more than +2% and Apple (AAPL) closed up more than +1%. Also, Nvidia (NVDA) closed up +0.78%, Alphabet (GOOGL) closed up +0.76%, Meta Platforms (META) closed up +0.68%, and Microsoft (MSFT) closed up +0.39%.
American Express (AXP) closed up more than +7% to lead gainers in the Dow Jones Industrials after reporting Q3 EPS of $4.14, stronger than the consensus of $3.99.
Zions Bancorp (ZION) closed up more than +5% after Baird upgraded the stock to outperform from neutral with a price target of $65.
Jeffries Financial Group (JEF) closed up more than +5% after Oppenheimer & Co. upgraded the stock to outperform from market perform with a price target of $81.
Truist Financial (TFC) closed up more than +3% after reporting Q3 non-interest income of $1.56 billion, better than the consensus of $1.49 billion.
Ally Financial (ALLY) closed up more than +3% after reporting Q3 adjusted EPS of $1.15, stronger than the consensus of $1.00.
CSX Corp (CSX) closed up more than +1% after reporting Q3 revenue of $3.59 billion, better than the consensus of $3.57 billion.
Fifth Third Bancorp (FITB) closed up more than +1% after reporting Q3 net interest income of $1.53 billion, above the consensus of $1.52 billion.
Chipmakers and AI infrastructure stocks moved lower on Friday on long liquidation following their recent blistering rallies. Oracle (ORCL) closed down more than -6% and Super Micro Computer (SMCI) closed down more than -3%. Also, ARM Holdings Plc (ARM) closed down more than -3% to lead losers in the Nasdaq 100. In addition, Broadcom (AVGO), NXP Semiconductors NV (NXPI), Applied Materials (AMAT), Arista Networks (ANET), and Dell Technologies (DELL) closed down more than -1%.
Mining stocks tumbled on Friday after gold prices dropped by more than 1% and silver prices sank by more than 5%. Kinross Gold (KGC) closed down more than -9% and Newmont (NEM) closed down more than -7% to lead losers in the S&P 500. Also, Barrick Mining (B) closed down more than -6% and Freeport-McMoRan (FCX) closed down more than -1%.
AST SpaceMobile (ASTS) closed down more than -6% after Barclays double-downgraded the stock to underweight from overweight with a price target of $60.
Eli Lilly (LLY) closed down more than 2% after President Trump announced that the White House will negotiate the price of the diabetes drug Ozempic down to as low as $150 a month.
State Street Corp (STT) closed down more than -1% after reporting Q3 net interest income of $715 million, below the consensus of $731.3 million.
Earnings Reports(10/20/2025)
AGNC Investment Corp (AGNC), BOK Financial Corp (BOKF), Cleveland-Cliffs Inc (CLF), Crown Holdings Inc (CCK), RLI Corp (RLI), Steel Dynamics Inc (STLD), Summit Therapeutics Inc (SMMT), W R Berkley Corp (WRB), Wintrust Financial Corp (WTFC), Zions Bancorp NA (ZION).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Settle Higher as Bank Worries and Trade Tensions Recede

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Dave Inc (Symbol: DAVE), where a total volume of 3,494 contracts has been traded thus far today, a contract volume which is representative of approximately 349,400 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 85.7% of DAVE's average daily trading volume over the past month, of 407,695 shares. Particularly high volume was seen for the $230 strike put option expiring October 17, 2025, with 799 contracts trading so far today, representing approximately 79,900 underlying shares of DAVE. Below is a chart showing DAVE's trailing twelve month trading history, with the $230 strike highlighted in orange:
Alphabet Inc (Symbol: GOOG) options are showing a volume of 160,361 contracts thus far today. That number of contracts represents approximately 16.0 million underlying shares, working out to a sizeable 81.5% of GOOG's average daily trading volume over the past month, of 19.7 million shares. Especially high volume was seen for the $250 strike put option expiring October 17, 2025, with 14,284 contracts trading so far today, representing approximately 1.4 million underlying shares of GOOG. Below is a chart showing GOOG's trailing twelve month trading history, with the $250 strike highlighted in orange:
And Jefferies Group Inc. (Symbol: JEF) options are showing a volume of 22,423 contracts thus far today. That number of contracts represents approximately 2.2 million underlying shares, working out to a sizeable 62.3% of JEF's average daily trading volume over the past month, of 3.6 million shares. Especially high volume was seen for the $75 strike call option expiring January 16, 2026, with 7,369 contracts trading so far today, representing approximately 736,900 underlying shares of JEF. Below is a chart showing JEF's trailing twelve month trading history, with the $75 strike highlighted in orange:
For the various different available expirations for DAVE options, GOOG options, or JEF options, visit StockOptionsChannel.com.
Also see:
BDCs Hedge Funds Are Selling
Funds Holding SPSB
SQ Videos
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Noteworthy Friday Option Activity: DAVE, GOOG, JEF

The S&P 500 Index ($SPX) (SPY) today is down -0.07%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.04%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.20%. December E-mini S&P futures (ESZ25) are down -0.03%, and December E-mini Nasdaq futures (NQZ25) are down -0.10%.
Stock index futures recovered from sharp overnight losses and are trading mixed. Solid earnings results from regional banks have helped to lift market sentiment. Truist Financial and Fifth Third Bancorp are moving higher today to lead bank stocks higher after reporting better-than-expected Q3 earnings. Regional bank stocks tumbled on Thursday amid concerns about the credit quality of regional banks, sparked by news that Zions Bancorp and Western Alliance Bancorp were victims of fraud involving loans to funds that invest in distressed commercial mortgages. The weakness in chipmakers and AI-infrastructure stocks today is a negative factor for the overall market.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Stock indexes also garnered support today as China-US trade concerns eased slightly after President Trump said current tariffs on China were "not sustainable" and affirmed that he will meet with Chinese President Xi Jinping at the end of the month in South Korea.
The escalation of trade tensions between the US and China, the ongoing US government shutdown, and fears about credit quality in the US have sparked a buying spree in precious metals as a haven, with gold and silver reaching fresh all-time highs today.
The shutdown of the US government continues, weighing on market sentiment and delaying key economic reports. The government shutdown means delays in the release of government reports, including the last three weeks of weekly initial unemployment claims, the Aug US trade report, and the Sep payroll report. Last Friday, the Bureau of Labor Statistics (BLS) said the September consumer price report, which was originally scheduled to be released on Wednesday, will be released on October 24. The White House has warned that if the government shutdown lingers, it would trigger widespread dismissals of employees in government programs that don't align with President Trump's priorities. Bloomberg Economics estimates that 640,000 federal workers will be furloughed during the shutdown, which would expand jobless claims and push the unemployment rate up to 4.7%.
The markets this week will focus on earnings results as the Q3 earnings season begins. Rising corporate earnings expectations are a bullish backdrop for stocks. According to Bloomberg Intelligence, 78% of the S&P 500 companies that have reported so far have beaten forecasts. Also, more than 22% of companies in the S&P 500 that provided guidance for their Q3 earnings results are expected to beat analysts' expectations, the highest in a year. However, Q3 profits are expected to have risen by +7.2% y/y, the smallest increase in two years. Also, Q3 sales growth is projected to slow to +5.9% y/y from 6.4% in Q2.
The markets are pricing in a 100% chance of a -25 bp rate cut at the next FOMC meeting on Oct 28-29.
Overseas stock markets are lower today. The Euro Stoxx 50 is down -0.38%. China's Shanghai Composite closed down -1.95%. Japan's Nikkei Stock 225 closed down -1.44%.
Interest Rates
December 10-year T-notes (ZNZ5) today are down -9 ticks. The 10-year T-note yield is up +3.6 bp to 4.011%. Dec T-notes fell from a 6.25-month high today and turned lower, and the 10-year T-note yield rebounded from a 6.25-month low of 3.934% and moved higher.
T-notes gave up overnight gains and turned lower after several regional bank stocks reported better-than-expected Q3 earnings, which eased concerns over credit quality in regional banks, improved market sentiment, and sparked long liquidation in T-notes. Additionally, the easing of US-China trade tensions has curbed safe-haven demand for government debt securities and weighed on T-notes today, following President Trump's statement that the high tariffs he has threatened to impose on China are unsustainable.
T-notes have support from the ongoing US government shutdown, which could lead to additional job losses, reduced consumer spending, and a weakened US economy, potentially allowing the Fed to continue cutting interest rates.
European government bond yields are moving higher today. The 10-year German bund yield recovered from a 3.5-month low of 2.523% and is up +1.5 bp to 2.585%. The 10-year UK gilt yield recovered from a 3.5-month low of 4.451% and is up +3.4 bp to 4.536%.
Eurozone Sep core CPI was revised upward by +0.1 to a 5-month high of 2.4% y/y from the previously reported 2.3% y/y.
ECB Governing Council member Simkus said, "downside risks to both growth and inflation" may require the ECB to lower interest rates further in the months ahead.
Swaps are discounting a 2% chance for a -25 bp rate cut by the ECB at its next policy meeting on October 30.
US Stock Movers
Chipmakers and AI infrastructure stocks are sliding today, a negative factor for the broader market. Oracle (ORCL) is down more than -6% to lead losers in the S&P 500. Also, ARM Holdings Plc (ARM) is down more than -2% to lead losers in the Nasdaq 100. In addition, Advanced Micro Devices (AMD), ON Semiconductor (ON), Applied Materials (AMAT), NXP Semiconductors NV (NXPI), Microchip Technology (MCHP), Qualcomm (QCOM), Arista Networks (ANET), Broadcom (AVGO), Dell Technologies (DELL), GlobalFoundries (GFS), and Super Micro Computer (SMCI) are down more than -1%.
Cryptocurrency-exposed stocks are falling today as the price of Bitcoin has dropped by more than -2% to a 2.75-month low. As a result, Coinbase Global (COIN), Galaxy Digital (GLXY), MARA Holdings (MARA), and Riot Platforms (RIOT) are down more than -2%.
AST SpaceMobile (ASTS) is down more than -5% after Barclays double-downgraded the stock to underweight from overweight with a price target of $60.
State Street Corp (STT) is down more than -4% after reporting Q3 net interest income of $715 million, below the consensus of $731.3 million.
Eli Lilly (LLY) is down more than 3% after President Trump announced that the White House will negotiate the price of the diabetes drug Ozempic down to as low as $150 a month.
Micron Technology (MU) is down more than -2% after Reuters reported the company plans to stop supplying server chips to data centers in China after it failed to recover from a 2023 government ban on its products in critical Chinese infrastructure.
Occidental Petroleum (OXY) is down more than -1% after Wells Fargo Securities initiated coverage on the stock with a recommendation of underweight and a price target of $42.
Jeffries Financial Group (JEF) is up more than +5% after Oppenheimer & Co. upgraded the stock to outperform from market perform with a price target of $81.
American Express (AXP) is up more than +4% to lead gainers in the Dow Jones Industrials after reporting Q3 EPS of $4.14, stronger than the consensus of $3.99.
Zions Bancorp (ZION) is up more than +4% after Baird upgraded the stock to outperform from neutral with a price target of $65.
Truist Financial (TFC) is up more than +3% after reporting Q3 non-interest income of $1.56 billion, better than the consensus of $1.49 billion.
CSX Corp (CSX) is up more than +2% after reporting Q3 revenue of $3.59 billion, better than the consensus of $3.57 billion.
Fifth Third Bancorp (FITB) is up more than +2% after reporting Q3 net interest income of $1.53 billion, above the consensus of $1.52 billion.
Huntington Bancshares (HBAN) is up more than +1% after reporting Q3 adjusted EPS of 40 cents, above the consensus of 37 cents.
Earnings Reports(10/17/2025)
Ally Financial Inc (ALLY), American Express Co (AXP), Comerica Inc (CMA), Fifth Third Bancorp (FITB), Huntington Bancshares Inc/OH (HBAN), Regions Financial Corp (RF), SLB Ltd (SLB), State Street Corp (STT), Truist Financial Corp (TFC), Webster Financial Corp (WBS).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Mixed as Chipmakers Slip and Bank Stocks Stabilize

The S&P 500 Index ($SPX) (SPY) today is up +0.14%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.43%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.07%. December E-mini S&P futures (ESZ25) are up +0.10%, and December E-mini Nasdaq futures (NQZ25) are up +0.05%.
Stock index futures recovered from sharp overnight losses to trade slightly higher as solid earnings results from regional banks helped lift market sentiment. Truist Financial, Regions Financial, and Fifth Third Bancorp are moving higher today to lead bank stocks higher after reporting better-than-expected Q3 earnings. Regional bank stocks tumbled on Thursday amid concerns about the credit quality of regional banks, sparked by news that Zions Bancorp and Western Alliance Bancorp were victims of fraud involving loans to funds that invest in distressed commercial mortgages.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Stock indexes also garnered support today as China-US trade concerns eased slightly after President Trump said current tariffs on China were "not sustainable" and affirmed that he will meet with Chinese President Xi Jinping at the end of the month in South Korea.
The escalation of trade tensions between the US and China, the ongoing US government shutdown, and fears about credit quality in the US have sparked a buying spree in precious metals as a haven, with gold and silver reaching fresh all-time highs today.
The shutdown of the US government continues, weighing on market sentiment and delaying key economic reports. The government shutdown means delays in the release of government reports, including the last three weeks of weekly initial unemployment claims, the Aug US trade report, and the Sep payroll report. Last Friday, the Bureau of Labor Statistics (BLS) said the September consumer price report, which was originally scheduled to be released on Wednesday, will be released on October 24. The White House has warned that if the government shutdown lingers, it would trigger widespread dismissals of employees in government programs that don't align with President Trump's priorities. Bloomberg Economics estimates that 640,000 federal workers will be furloughed during the shutdown, which would expand jobless claims and push the unemployment rate up to 4.7%.
The markets this week will focus on earnings results as the Q3 earnings season begins. Rising corporate earnings expectations are a bullish backdrop for stocks. According to Bloomberg Intelligence, 78% of the S&P 500 companies that have reported so far have beaten forecasts. Also, more than 22% of companies in the S&P 500 that provided guidance for their Q3 earnings results are expected to beat analysts' expectations, the highest in a year. However, Q3 profits are expected to have risen by +7.2% y/y, the smallest increase in two years. Also, Q3 sales growth is projected to slow to +5.9% y/y from 6.4% in Q2.
The markets are pricing in a 100% chance of a -25 bp rate cut at the next FOMC meeting on Oct 28-29.
Overseas stock markets are lower today. The Euro Stoxx 50 is down -0.59%. China's Shanghai Composite closed down -1.95%. Japan's Nikkei Stock 225 closed down -1.44%.
Interest Rates
December 10-year T-notes (ZNZ5) today are down -6 ticks. The 10-year T-note yield is up +1.7 bp to 3.992%. Dec T-notes fell from a 6.25-month high today and turned lower, and the 10-year T-note yield rebounded from a 6.25-month low of 3.934% and moved higher.
T-notes gave up overnight gains and turned lower after several regional bank stocks reported better-than-expected Q3 earnings, which eased concerns over credit quality in regional banks, improved market sentiment, and sparked long liquidation in T-notes. Additionally, the easing of US-China trade tensions has curbed safe-haven demand for government debt securities and weighed on T-notes today, following President Trump's statement that the high tariffs he has threatened to impose on China are unsustainable.
T-notes have support from the ongoing US government shutdown, which could lead to additional job losses, reduced consumer spending, and a weakened US economy, potentially allowing the Fed to continue cutting interest rates.
European government bond yields are moving higher today. The 10-year German bund yield recovered from a 3.5-month low of 2.523% and is up +0.3 bp to 2.573%. The 10-year UK gilt yield recovered from a 3.5-month low of 4.451% and is up +3.3 bp to 4.534%.
Eurozone Sep core CPI was revised upward by +0.1 to a 5-month high of 2.4% y/y from the previously reported 2.3% y/y.
ECB Governing Council member Simkus said, "downside risks to both growth and inflation" may require the ECB to lower interest rates further in the months ahead.
Swaps are discounting a 2% chance for a -25 bp rate cut by the ECB at its next policy meeting on October 30.
US Stock Movers
Chipmakers and AI infrastructure stocks are sliding today, a negative factor for the broader market. Oracle (ORCL) is down more than -5% to lead losers in the S&P 500. Also, ARM Holdings Plc (ARM) is down more than -2% to lead losers in the Nasdaq 100, and Arista Networks (ANET) is down more than -2%. In addition, Advanced Micro Devices (AMD), Broadcom (AVGO), Dell Technologies (DELL), GlobalFoundries (GFS), and Super Micro Computer (SMCI) are down more than -1%.
Cryptocurrency-exposed stocks are falling today as the price of Bitcoin is down more than -1% at a 2.75-month low. As a result, Coinbase Global (COIN), Galaxy Digital (GLXY), MARA Holdings (MARA), and Riot Platforms (RIOT) are down more than -2%.
State Street Corp (STT) is down more than -5% after reporting Q3 net interest income of $715 million, below the consensus of $731.3 million.
AST SpaceMobile (ASTS) is down more than -3% after Barclays double-downgraded the stock to underweight from overweight with a price target of $60.
Eli Lilly (LLY) is down more than 3% after President Trump announced that the White House will negotiate the price of the diabetes drug Ozempic down to as low as $150 a month.
Micron Technology (MU) is down more than -1% after Reuters reported the company plans to stop supplying server chips to data centers in China after it failed to recover from a 2023 government ban on its products in critical Chinese infrastructure.
Booz Allen Hamilton Holding (BAH) is down more than -1% after TD Cowen downgraded the stock to hold from buy.
Jeffries Financial Group (JEF) is up more than +4% after Oppenheimer & Co. upgraded the stock to outperform from market perform with a price target of $81.
American Express (AXP) is up more than +3% to lead gainers in the Dow Jones Industrials after reporting Q3 EPS of $4.14, stronger than the consensus of $3.99.
Truist Financial (TFC) is up more than +3% after reporting Q3 non-interest income of $1.56 billion, better than the consensus of $1.49 billion.
CSX Corp (CSX) is up more than +2% after reporting Q3 revenue of $3.59 billion, better than the consensus of $3.57 billion.
Zions Bancorp (ZION) is up more than +2% after Baird upgraded the stock to outperform from neutral with a price target of $65.
Fifth Third Bancorp (FITB) is up more than +2% after reporting Q3 net interest income of $1.53 billion, above the consensus of $1.52 billion.
Huntington Bancshares (HBAN) is up more than +1% after reporting Q3 adjusted EPS of 40 cents, above the consensus of 37 cents.
Earnings Reports(10/17/2025)
Ally Financial Inc (ALLY), American Express Co (AXP), Comerica Inc (CMA), Fifth Third Bancorp (FITB), Huntington Bancshares Inc/OH (HBAN), Regions Financial Corp (RF), SLB Ltd (SLB), State Street Corp (STT), Truist Financial Corp (TFC), Webster Financial Corp (WBS).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Stabilize as Bank Stocks Recover and US-China Trade Tensions Ease

U.S. stock markets closed lower on Thursday after a volatile session. Market participants remained concerned regarding the credit practice and the growing bad loans of some regional banks. At the same time, lingering trade and tariff conflicts between the United States and China and the U.S. government shutdown dented investors’ confidence in risky assets like equities. All three major stock indexes ended in negative territory.
How Did the Benchmarks Perform?
The Dow Jones Industrial Average (DJI) fell 0.7% or 301.07 points to close at 45,952.24. Notably, 22 components of the 30-stock index ended in negative territory, while eight finished in positive territory. At the intraday high, the blue-chip index was up 169 points and at the intraday low, the index was down 472.13 points.
The tech-heavy Nasdaq Composite finished at 22,562.54, sliding 0.5% or 107.54 points driven by the weak performance of technology bigwigs. At the intraday high, the tech-laden index was up by 216.80 points and at the intraday low, the index was down 265.40 points.
The S&P 500 was down 0.6% to finish at 6,629.07. At the intraday high, the benchmark was up 0.6% and at the intraday low, the index was down 1.2%. Out of the 11 broad sectors of the broad-market index, nine ended in negative territory, while two were in positive territory.
The Financials Select Sector SPDR (XLF), the Utilities Select Sector SPDR (XLU), the Communication Services Select Sector SPDR (XLC) and the Consumer Discretionary Select Sector SPDR (XLY) tumbled 2.8%, 1.1%, 1.1% and 1%, respectively.
The fear gauge, the CBOE Volatility Index (VIX) jumped 22.6% to 25.31, its highest level since May. A total of 22.4 billion shares were traded on Thursday, higher than the last 20-session average of 20.5 billion. The S&P 500 recorded 29 new 52-week highs and 16 new 52-week lows. The Nasdaq Composite registered 113 new 52-week highs and 109 new 52-week lows.
Regional Banks Tumble
Shares of two major regional banks tanked following serious concerns about their lending practices. Bad loans gear up for Zions Bancorporation, National Association ZION and Western Alliance Bancorporation WAL, which plunged 13.1% and 10.8%, respectively, following bankruptcies of two auto industry-related companies. SPDR S&P Regional Banking ETF (KRE) also tanked 6.2%.
In September, two auto sector companies, namely, First Brands and Tricolor Holdings went bankrupt. On Oct. 16, the stock price of major investment bank Jefferies Financial Group Inc. JEF also plummeted 10.6% after the firm disclosed $715 million of exposure tied to First Brands.
Jefferies Financial Group currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
U.S.-China Trade Conflicts
On Oct. 14, China sanctioned five U.S. subsidiaries of South Korean shipbuilder Hanwha Ocean. With this any Chinese organization or individual will be prohibited from doing business with these companies. China cited national security as the primary reason for these sanctions.
On the other hand, President Donald Trump said his administration is mulling over imposing cooking oil embargo on China. In a Truth Social post, Trump wrote, “China is committing an Economically Hostile Act by “purposefully not buying our Soybeans, and causing difficulty for our Soybean Farmers.” The U.S. government is considering “terminating business with China having to do with Cooking Oil.”
Trade tensions between the two largest trading partners in the world worsened last week after China imposed stringent restrictions on exporting rare earth minerals. President Trump threatened to impose an additional 100% duty on Chinese goods over and above the current level of tariffs.
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stock Market News for Oct 17, 2025

For Immediate Release
Chicago, IL – October 17, 2025 – Today, Zacks Investment Ideas feature highlights First Solar FSLR, BMO Capital BMO, Jefferies Financial Group JEF and JPMorgan JPM and Citigroup C.
Buy the Surge in First Solar Stock Before It's Too Late?
The excitement for First Solar’s massive earnings potential is back in effect, with the solar industry leader being boosted by a powerful mix of policy support, analyst upgrades, and strong business fundamentals.
Being a prime beneficiary of the Inflation Reduction Act, which has an emphasis on incentivizing and investing in clean energy and climate initiatives, more long-term visibility demand is on the horizon amid increased government funding for renewable energy.
This comes as First Solar’s U.S. production facilities are reportedly sold out through 2028, with the company specializing in cadmium telluride (CdTe) thin-film solar modules that offer superior performance compared to traditional silicon panels.
As a reminder that the all-time high for First Solar stock is over $300 a share, FSLR has spiked +10% so far this month and is now up nearly +40% year to date.
Recently hitting a fresh 52-week peak of $248, this certainly begs the question of whether it's time to buy the surge in FSLR before it gets more expensive or if there will still be better buying opportunities ahead.
FSLR Reports On October 30
Propelling FSLR is that First Solar is expected to post strong Q3 results on Thursday, October 30. Zacks' projections call for First Solar’s Q3 sales to be up an eye-popping 74% to $1.54 billion compared to $887.67 million in the prior year quarter.
Taking advantage of this impressive top line expansion, First Solar’s earnings are expected to climb 46% to $4.24 per share versus EPS of $2.91 in Q3 2024.
FSLR Technical Analysis
With investors being lured by foreseeable expectations of high double-digit top and bottom line growth in fiscal 2025 and FY26, FSLR has been on a tear since breaking out above its 50-day and 200-day SMAs in July.
Previously, at the end of last year, the drop in First Solar’s 50-day SMA (green line) below the 200-day SMA (red line) led to an extended downtrend in FSLR before the reemergence of several catalysts, including the clarification of what ended up being favorable policy changes regarding updated rules for clean energy tax credits and federal incentives.
First Solar’s 50-day and 200-day SMA support levels are currently at roughly $169 and $210 a share, respectively.
First Solar’s Attractive P/E Valuation
At current levels, FSLR still trades at a reasonable 16X forward earnings multiple despite such an extensive rally in recent months.
From a historical perspective, First Solar stock not only offers a nice discount to the benchmark S&P 500 and many of its solar peers but also trades more than 20% from its decade-long median of 21X, with an extreme high of over 1,500X during this period.
FSLR Price Target & Analyst Upgrades
Blowing past its current Average Zacks Price Target of $231.17, several analysts have recently upgraded their price targets for First Solar stock to over $260.
This includes analysts at BMO Capital, Jefferies Financial Group and JPMorgan, with Citigroup currently having the street high price target of $300.
What the Zacks Rank Suggests
Most influential to Zacks' proprietary ranking system is the trend of earnings estimate revisions (EPS), with FSLR currently landing a Zacks Rank #3 (Hold). Over the last quarter, EPS revisions for First Solar are still positive but have dipped in the last week for FY25 and FY26.
Conclusion & Final Thoughts
Although it’s very enticing to chase the rally, the technical analysis of FSLR also shows how this stock can be very volatile and influenced by these trading indicators. It’s understandable how FOMO could be setting in, but the possibility of better buying opportunities is not off the table, even with new emerging catalysts such as the use of solar energy to support AI infrastructure.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in the coming year. While not all picks can be winners, previous recommendations have soared +112%, +171%, +209% and +232%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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First Solar, Inc. (FSLR) : Free Stock Analysis Report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Zacks Investment Ideas feature highlights: First Solar, BMO Capital, Jefferies Financial and JPMorgan and Citigroup

The excitement for First Solar’s FSLR massive earnings potential is back in effect, with the solar industry leader being boosted by a powerful mix of policy support, analyst upgrades, and strong business fundamentals.
Being a prime beneficiary of the Inflation Reduction Act, which has an emphasis on incentivizing and investing in clean energy and climate initiatives, more long-term visibility demand is on the horizon amid increased government funding for renewable energy.
This comes as First Solar’s U.S. production facilities are reportedly sold out through 2028, with the company specializing in cadmium telluride (CdTe) thin-film solar modules that offer superior performance compared to traditional silicon panels.
As a reminder that the all-time high for First Solar stock is over $300 a share, FSLR has spiked +10% so far this month and is now up nearly +40% year to date.
Recently hitting a fresh 52-week peak of $248, this certainly begs the question of whether it's time to buy the surge in FSLR before it gets more expensive or if there will still be better buying opportunities ahead.
Image Source: Zacks Investment Research
FSLR Reports On October 30
Propelling FSLR is that First Solar is expected to post strong Q3 results on Thursday, October 30. Zacks' projections call for First Solar’s Q3 sales to be up an eye-popping 74% to $1.54 billion compared to $887.67 million in the prior year quarter.
Taking advantage of this impressive top line expansion, First Solar’s earnings are expected to climb 46% to $4.24 per share versus EPS of $2.91 in Q3 2024.
FSLR Technical Analysis
With investors being lured by foreseeable expectations of high double-digit top and bottom line growth in fiscal 2025 and FY26, FSLR has been on a tear since breaking out above its 50-day and 200-day SMAs in July.
Previously, at the end of last year, the drop in First Solar’s 50-day SMA (green line) below the 200-day SMA (red line) led to an extended downtrend in FSLR before the reemergence of several catalysts, including the clarification of what ended up being favorable policy changes regarding updated rules for clean energy tax credits and federal incentives.
First Solar’s 50-day and 200-day SMA support levels are currently at roughly $169 and $210 a share, respectively.
Image Source: Zacks Investment Research
First Solar’s Attractive P/E Valuation
At current levels, FSLR still trades at a reasonable 16X forward earnings multiple despite such an extensive rally in recent months.
From a historical perspective, First Solar stock not only offers a nice discount to the benchmark S&P 500 and many of its solar peers but also trades more than 20% from its decade-long median of 21X, with an extreme high of over 1,500X during this period.
Image Source: Zacks Investment Research
FSLR Price Target & Analyst Upgrades
Blowing past its current Average Zacks Price Target of $231.17, several analysts have recently upgraded their price targets for First Solar stock to over $260.
This includes analysts at BMO Capital BMO, Jefferies Financial Group JEF, and JPMorgan JPM, with Citigroup C currently having the street high price target of $300.
Image Source: Zacks Investment Research
What the Zacks Rank Suggests
Most influential to Zacks' proprietary ranking system is the trend of earnings estimate revisions (EPS), with FSLR currently landing a Zacks Rank #3 (Hold). Over the last quarter, EPS revisions for First Solar are still positive but have dipped in the last week for FY25 and FY26.
Image Source: Zacks Investment Research
Conclusion & Final Thoughts
Although it’s very enticing to chase the rally, the technical analysis of FSLR also shows how this stock can be very volatile and influenced by these trading indicators. It’s understandable how FOMO could be setting in, but the possibility of better buying opportunities is not off the table, even with new emerging catalysts such as the use of solar energy to support AI infrastructure.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Buy the Surge in First Solar Stock Before It's Too Late?

Morgan Stanley’s MS third-quarter 2025 earnings of $2.80 per share handily surpassed the Zacks Consensus Estimate of $2.08. Also, the bottom line soared 49% from the prior-year quarter.
Shares of Morgan Stanley jumped almost 4.5% in pre-market trading as it became the latest Wall Street giant to gain from a surge in dealmaking activities during the quarter.
Behind Morgan Stanley’s Q3 Headline Numbers
Like its Wall Street peers, Morgan Stanley’s investment banking (IB) business gained from a frenzy of deal-making activities and IPOs. Advisory fees jumped 25% year over year as completed M&A transactions rose.
Further, higher non-investment grade and investment grade issuances supported the company’s fixed income underwriting fees, which surged 39%. Moreover, equity underwriting income soared 80% “as clients actively engaged in capital-raising opportunities.” Hence, total IB fees (in the Institutional Securities division) increased 44% to $2.11 billion. We had projected it to be $1.54 billion.
Similarly, MS posted a solid trading performance. Equity trading revenues climbed 35% year over year to $4.12 billion and fixed-income trading income was up 8% to $2.17 billion. Our projections for equity and fixed-income trading revenues were $3.56 billion and $2.11 billion, respectively.
Further, the performance of the company’s wealth management and investment management businesses was impressive, driven by a rise in client assets and assets under management. Morgan Stanley’s net interest income (NII) increased, given the improved lending activities. On the other hand, an increase in total non-interest expenses was the undermining factor.
Net income applicable to common shareholders was $4.45 billion, an increase of 47% from the year-ago quarter. Our estimate for the metric was $3.12 billion.
Morgan Stanley’s Revenues Surge, Expenses Up
Quarterly net revenues were $18.22 billion, surging 18% from the prior-year quarter. The top line handily beat the Zacks Consensus Estimate of $16.4 billion.
NII was $2.49 billion, up 13%. We had projected NII of $2.31 billion.
Total non-interest revenues of $15.73 billion jumped 19%. Our estimate for the metric was $13.56 billion.
Total non-interest expenses were $12.2 billion, up 10%. Our estimate for the metric was $11.44 billion.
Provision for credit losses was nil compared with $79 million in the prior-year quarter. We had projected the metric to be $85.3 million.
Morgan Stanley’s Segment Performance
Institutional Securities: Pre-tax income was $3.18 billion, jumping 67% from the prior-year quarter. Our estimate for the same was $2.25 billion.
Net revenues were $8.52 billion, up 25% year over year. The upside resulted from increased equity and fixed income trading revenues and higher IB net revenues. We had projected segment net revenues of $7.44 billion.
Wealth Management: Pre-tax income totaled $2.5 billion, rising 21% year over year. Our estimate for the metric was $1.87 billion.
Net revenues were $8.23 billion, up 13%, driven by higher asset management revenues, transactional revenues and NII. We had projected revenues of $7.14 billion.
Total client assets were $7.05 trillion as of Sept. 30, 2025, up 18% year over year. We had projected the metric to be $6.4 trillion.
Investment Management: Pre-tax income was $364 million, climbing 40% from the year-ago quarter. Our estimate for the same was $243.2 million.
Net revenues were $1.65 billion, growing 13%. The improvement was attributable to a rise in asset management and related fees, and performance-based income and other revenues. We had projected revenues of $1.46 billion.
As of Sept. 30, 2025, total assets under management or supervision were $1.81 trillion, up 13% year over year. Our estimate for the metric was $1.75 trillion.
Morgan Stanley’s Capital Position Solid
As of Sept. 30, 2025, book value per share was $62.98, up from $58.25 in the corresponding period of 2024. The tangible book value per share was $48.64, up from $43.76 as of Sept. 30, 2024.
Morgan Stanley’s Tier 1 capital ratio (advanced approach) was 17.6% compared with 16.9% in the year-ago quarter. The common equity Tier 1 capital ratio was 15.7% compared with 14.9% a year ago.
Update on Morgan Stanley’s Share Buyback Plan
In the reported quarter, Morgan Stanley repurchased 7 billion shares for $1.1 billion.
Our Viewpoint on Morgan Stanley
The rebound of the IB business and a solid deal-making pipeline are expected to support Morgan Stanley’s financials. Efforts to become less dependent on capital markets-driven revenues and inorganic expansion/strategic alliances will support top-line growth. However, elevated expenses due to expansion efforts and volatile trading revenues are concerns.
Morgan Stanley Price, Consensus and EPS Surprise
Currently, Morgan Stanley carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Morgan Stanley’s Peers
Jefferies Financial Group’s JEF third-quarter fiscal 2025 (ended Aug. 31) adjusted earnings of $1.05 per share handily surpassed the Zacks Consensus Estimate of 79 cents. The bottom line compared favorably with the prior-year quarter’s earnings of 78 cents per share. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.
JEF’s results were aided by strong performance in Investment Banking and Capital Markets and Asset Management segments. However, higher expenses remain a spoilsport.
JPMorgan’s JPM third-quarter 2025 earnings were $5.07 per share. The bottom line handily surpassed the Zacks Consensus Estimate of $4.83.
Better-than-expected performance of capital markets businesses, higher NII and decent loan growth supported JPM’s results. Higher adjusted expenses and a rise in provisions were the undermining factors.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Morgan Stanley Q3 Earnings Beat on Deal-Making Boom, Solid Trading

Key Points
Charter Communications could be due for a big rebound if analysts are right.
Jefferies Financial Group has been a loser for Buffett this year, but that could be about to change.
Constellation Brands faces tariff headwinds, but the stock has considerable support on Wall Street.
Warren Buffett has never paid much attention to what Wall Street analysts think. Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) doesn't even hold a quarterly call with analysts. I doubt that Buffett's perspective will change during his remaining few months as Berkshire's CEO.
However, analysts hold favorable views of quite a few stocks in Buffett's Berkshire Hathaway portfolio. Here are the three Buffett stocks Wall Street thinks will soar the most over the next 12 months.
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1. Charter Communications
Buffett only has a tiny stake in telecommunications company Charter Communications (NASDAQ: CHTR). It made up less than 1% of Berkshire's portfolio at the end of the second quarter of 2025. The legendary investor (or one of his two investment managers) also seems to have soured on Charter. Berkshire slashed its position in the stock by 46.5% in Q2.
That move looks smart in retrospect. Charter's share price plunged after a disappointing Q2 update in July. The telecom provider's earnings fell well below analysts' estimates.
However, Wall Street seems to remain bullish about Charter. The average 12-month price target for the stock reflects an upside potential of over 40%.
Granted, not everyone on Wall Street is upbeat about Charter. Of the 22 analysts surveyed by S&P Global (NYSE: SPGI) in October, only 10 rated the stock as a "buy." Eight analysts recommended holding Charter, while the other four analysts gave the stock an "underperform" or "sell" rating.
2. Jefferies Financial Group
Jefferies Financial Group (NYSE: JEF) is an even smaller holding than Charter for Buffett. Berkshire's position in this financial stock totals only $23 million, which amounts to pocket change for the giant conglomerate.
Like Charter, Jefferies has been a loser for Buffett so far in 2025. The stock has taken investors on a rollercoaster ride that's currently on a downswing. However, Jefferies' share price has jumped more than 80% since the end of the third quarter of 2022, when Buffett initially bought the stock.
What does Wall Street think about this Buffett stock? It depends on how you look at things. On one hand, only one of the five analysts surveyed by S&P Global this month rated Jefferies as a "buy." Three analysts recommended holding the stock, with one rating it as a "sell."
On the other hand, the average 12-month price target for Jefferies is more than 30% above its current share price. The most bullish analyst projects that the stock could soar more than 60% over the next 12 months.
3. Constellation Brands
Buffett has been a net seller of stocks for 11 consecutive quarters. However, he liked Constellation Brands (NYSE: STZ) enough to initiate a new position in the fourth quarter of 2024 and add more shares in the first and second quarters of 2025. Today, Berkshire owns 7.6% of the premium beer, wine, and spirits company.
How has Buffett's bet on Constellation Brands paid off so far? Not great. The stock has plunged more than 30% year to date. Steep tariffs imposed by the Trump administration on aluminum imports have significantly hurt Constellation.
But Wall Street remains supportive of this beaten-down alcoholic beverage stock. Fifteen of the 25 analysts surveyed by S&P Global in October rated Constellation Brands as a "buy" or "strong buy." Eight analysts recommended holding the stock, with two analysts recommending selling shares.
The consensus 12-month price target for Constellation Brands reflects an upside potential of more than 20%. One especially positive analyst expects the stock could jump more than 50% over the next year.
The best pick of these three Buffett stocks
I don't know if any of these three Buffett stocks will rise as much as Wall Street's price targets indicate they will over the next 12 months. However, I think one of these stocks could be the best long-term pick of the bunch -- Constellation Brands.
Tariffs on aluminum are certainly problematic for Constellation. The company should be able to successfully weather the storm, though. Constellation's Corona, Modelo, and Pacifico brands are among the strongest in the beer industry. I don't look for that to change.
This stock trades at a forward price-to-earnings ratio of 12, which should appeal to value investors. Its dividend yield of roughly 2.9% could attract interest from income investors. Constellation Brands probably won't be an ideal choice for growth investors. But if Wall Street is right that the stock will soar more than 20% over the next 12 months, Constellation could outperform quite a few growth stocks.
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Keith Speights has positions in Berkshire Hathaway. The Motley Fool has positions in and recommends Berkshire Hathaway, Jefferies Financial Group, and S&P Global. The Motley Fool recommends Constellation Brands. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Jefferies Financial Group Inc.

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