Checking in on 5 Holdings, While Waiting to See What Happens in Washington
Let's review two Wall Street price target increases, two positive data points, and a new product that helps revenue diversification.
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As we wait to see the outcome, if any, of talks this afternoon between the White House and Democrats to avert a government shutdown, we are reading that a coalition of federal unions is calling on Democratic leadership to fight back against budget cuts to “critical public services,” even if it leads to a government shutdown and mass layoffs. We are also seeing that House Republicans were already set to be out of session this week, in part because of the Yom Kippur holiday. But reports suggest Speaker Mike Johnson has been entertaining the idea of keeping the lawmakers away longer to bring more pressure to bear on the Senate.
These details suggest the odds are increasing of a shutdown that would span at least several days. And yes, the Bureau of Labor Statistics (BLS) has shared that it will NOT be publishing economic data during the shutdown. The BLS also states that “all active data collection activities for BLS surveys will cease,” which means other reports could be delayed or the information they contain could be less than complete.
We continue to think the two factors to watch should a government shutdown occur are the duration of that shutdown and whether the Trump administration goes forward with reduction-in-force plans for mass firings.
While we wait and see what develops next, let’s review some Pro Portfolio related developments.
More Welltower Positives From Wall Street
Last week, we discussed UBS’s initiation with a Buy rating and a fresh $195 target for our newest position, Welltower (WELL) . Today, we can add KeyBanc, which lifted its price target to $200 from $150, and Deutsche Bank, which boosted its price target to $195 from $179.
Morgan Stanley Ups Its Amex Target
Following the details of its Platinum card refresh, we upped our American Express (AXP) price target to $370 from $340. Today, Morgan Stanley follows that move, lifting its target to $360 from $311.
Samsung Tips Apple’s Foldable Plans?
While we digest differing reports on iPhone 17 demand — Evercore ISI says lead times are stabilizing even though demand in China for the new iPhone 17Pro and Max models is stretched past 30 days, while Jefferies sees demand cooling off, especially in the U.S. — Samsung Display has seemingly confirmed Apple’s (AAPL) foldable plans.
Samsung Display shared that its newest organic light-emitting diode production line will come online in the first half of 2026. And Lee Cheong, the president of Samsung Display, announced that the company is ramping up preparations to produce OLED foldable smartphones. He also told reporters that the displays would be supplied to a "North American client." That’s likely more than a strong hint, especially since Google’s (GOOGL) Pixel line-up already sports a foldable product.
In our view, it’s another positive data point for the potential acceleration in the iPhone upgrade cycle as well as one for Universal Display (OLED) shares.
Axon Leans Into Non-Public Safety Body Camera Opportunities
On the last few earnings calls, Axon Enterprise (AXON) management has discussed opportunities for its body cameras outside the public safety market, name-dropping retail, healthcare, and “frontline” workers. Today, the company leaned further into that opportunity by announcing the Axon Body Workforce Mini (ABW Mini). This new body camera is smaller and lighter than current Axon cameras, and includes enhanced communications, and AI-enabled assistance for real-time translation.
With retailers looking to crack down on shrinkage and other sectors like healthcare aiming to reduce workplace violence, we like this diversification effort at Axon. And for those wondering, healthcare workers make up just 10% of the U.S. workforce yet suffer nearly half of all nonfatal workplace injuries from violence, according to the CDC's National Institute for Occupational Safety and Health. The American Hospital Association estimates the total annual financial cost of violence to hospitals in 2023 to be $18.27 billion. That’s a big pain point to address, especially when Axon’s 2025 top-line is expected to be $2.65 billion-$2.73 billion.
At the time of publication, TheStreet Pro Portfolio was long WELL, AXP, AAPL, GOOGL, OLED and AXON.
