Former Stock Picks Re-Enter the Technical Spotlight — Barrons.com

Dow Jones Newswires

By Doug Busch

Markets have a way of repeating themselves, and some of yesterday's ideas can become today's opportunities. Here are this week's examples of stock picks whose charts are demanding attention:

Roblox, introduced by Adam Levine in November.
Brunswick, covered by Todd Chanko in November.
Peabody Energy, analyzed by Dan Victor last September.

This is a weekly column. Read last week's edition here.

Roblox

The gaming platform has fizzled 40% over the last three months, which I think presents an opportunity. The stock now trades 50% off its annual peak made on July 31.

On its weekly chart, the weakness started with a double top after a bearish shooting star candle the first week of August with the November 2021 time frame. The last two weeks recorded consecutive doji candles, which are adept at signaling potential trend changes, and today is retesting a prior break above a cup with handle pivot of $75.84. Look for this stock to travel toward $135 by year end 2026, which would represent a gain of 78% from current prices. Remain bullish above $69.

Roblox was trading around $76 Tuesday.

Brunswick

The recreational boating company has added 17% over the last year and pays a dividend yield of more than 2%. The stock underwent an ugly 19 of 21 week losing streak from November 2024 to April 2025. It has now gained back almost all of those losses and closed the last three weeks very tautly — each close separated by 23 cents or less — for very bullish action given the big run.

On its daily chart, notice how since June it has been steadily outperforming retail peers on the ratio chart against the State Street Consumer Discretionary Select Sector ETF. As well take notice of the accumulation in the fourth quarter with big volume accompanying price appreciation. Since November, the 200-day simple moving average is sloping higher suggesting favorable long term secular trend. The stock is holding its 21-day exponential moving average nicely. Enter here after Tuesday's break above a bull flag pivot of $76.25, which could see a move toward $100 in the second half of 2026. That represents a gain of 19% from current prices. Remain bullish above $74.

Brunswick was trading at $80 Tuesday.

Peabody Energy

The coal producer has rallied over the last year, advancing more than 50%. Even with the stock falling five of the last six weeks, it is still 13% off its most recent 52-week high. That was a prudent pause after an enormous move of 275% from the April lows to the recent peak in mid October.

The stock has come a long way since bouncing off the very round $10 number after completing a bullish island reversal on April 8. That 9% gap up was followed up by another 9% advance the following day. A bullish golden cross was recorded in August as the 50-day simple moving average crossed above the 200-day simple moving average. Its daily chart represents a nice opportunity as it approaches a cup with handle pivot of $31.90. The base began with a bearish dark cloud cover candle on Oct. 15 and bottomed with a bullish hammer on Oct. 30. Look for this to travel toward $51 by year end, which would represent a gain of % from current prices. Remain bullish above $27.50.

Peabody Energy was trading around $32.50 Tuesday.

As always, the charts will ultimately decide whether these former picks are setting the stage for another sustained move.

Doug Busch is the senior technical analyst at Barron's Investor Circle . His technical view is added to stock picks, including those published exclusively for Investor Circle readers. A glossary of technical terms is updated regularly with new entries.

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

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Roblox stock falls after TD Cowen cuts price target on growth concerns

Investing.com

Advanced Micro Devices

-17.31%

Tesla

-3.78%

Investing.com -- Roblox Corp (NYSE:RBLX) stock fell 5.4% Tuesday after TD Cowen analyst Doug Creutz lowered his price target on the online gaming platform, citing worse-than-expected deceleration in December user engagement.

Creutz reduced his price target to $70 from $77 while maintaining a Sell rating on the stock. The analyst noted that December engagement growth slowed throughout the month, with hours spent in Roblox experiences growing 74% YoY compared to 99% in November and 110% in October. The final week of December saw growth of just 66% YoY.

The slowdown represents the lowest percentage growth during a holiday season in at least four years for the platform, according to Creutz. He attributed part of this deceleration to continued attrition from viral hits that emerged during the summer.

Despite lowering his Q4 Roblox bookings projection slightly from $2.26 billion to $2.24 billion, Creutz’s estimate still remains significantly above both consensus expectations and the top end of management’s guidance range. His projection represents a 17% quarter-over-quarter increase and a 65% YoY jump in bookings.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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REG - Anglo American PLC - Updates on Post Offer Intention Statements

London Stock Exchange

Peabody Energy

-0.62%

RNS Number : 3049M Anglo American PLC 19 December 2025

Anglo American plc

Registered office: 17 Charterhouse Street, London EC1N 6RA

Registered number: 3564138 (incorporated in England and Wales)

Legal Entity Identifier: 549300S9XF92D1X8ME43

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

THE FOLLOWING ANNOUNCEMENT IS BEING MADE PURSUANT TO THE REQUIREMENTS OF RULE 19.6(B) AND RULE 19.6(C) OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE").

19 December 2025

Rule 19.6(b) update and 19.6(c) confirmation with respect to post-offer intention statements made by Anglo American plc in May 2024

On 14 May 2024, Anglo American plc ("Anglo American") announced that it was accelerating the delivery of its strategy to unlock significant value from its portfolio and accelerate the delivery of consistently stronger shareholder returns.

Anglo American announces today that, in accordance with the requirements of Rule 19.6(b) of the Code, it is providing the following update in relation to Steelmaking Coal, De Beers and Crop Nutrients, and in accordance with the requirements of Rule 19.6(c) of the Code, it has confirmed compliance in writing to The Panel on Takeovers and Mergers in relation to Nickel and Anglo American Platinum, in each case regarding the relevant post-offer intention statements detailed in its announcement of 14 May 2024 (the "2024 Announcement") in respect of the matters set out below.

Rule 19.6(c) confirmations

Nickel

Anglo American announced on 18 February 2025 that it had entered into a definitive agreement to sell its nickel business to MMG Singapore Resources Pte. Ltd, a wholly owned subsidiary of MMG Limited, for cash consideration of up to US$500 million.

Anglo American is working to finalise the last outstanding regulatory approval with the European Commission required in order for the transaction to complete.

Anglo American Platinum

Anglo American announced on 2 June 2025 that it had completed the demerger of c.51% of its interest in Anglo American Platinum (now renamed Valterra Platinum Limited), resulting in Anglo American holding only a remaining 19.9% interest in Valterra Platinum Limited immediately following the demerger.

Anglo American subsequently announced on 4 September 2025 that it had sold the entirety of that remaining 19.9% interest in Valterra Platinum Limited, raising cash proceeds of ZAR44.1 billion (approximately US$2.5 billion).

Rule 19.6(b) updates

Steelmaking Coal

Anglo American announced on 29 January 2025 that it had completed the sale of its entire 33.3% interest in Jellinbah Group Pty Ltd to Zashvin Pty Ltd for total cash proceeds of A$1.6 billion (approximately US$1.0 billion).

Additionally, Anglo American announced on 25 November 2024 that it had entered into definitive agreements to sell the entirety of its remaining steelmaking coal business to Peabody Energy ("Peabody") for cash consideration of up to US$3.775 billion.

Anglo American subsequently announced on 19 August 2025 that Peabody had made a statement purporting to terminate its agreements to acquire the steelmaking coal business. As a result, Anglo American has re-initiated a formal sale process for the remaining steelmaking coal business.

De Beers

Anglo American confirmed in its Q3 Production Report dated 28 October 2025 that good progress continues to be made on the divestment or demerger of De Beers, with a dual-track separation and structured sale process currently under way.

Crop Nutrients

Anglo American confirmed in its 2025 interim results released on 31 July 2025 that the pace of development of the Woodsmith project had slowed to focus on a number of areas of critical work, including the ongoing sinking of the 1.6km deep service shaft, designed to confirm key schedule and capital assumptions for the project's overall development. Those interim results also stated that forecast capital expenditure for the Woodsmith project for 2025 remained at c.$0.3 billion, marginally above the target level set out in the 2024 Announcement. Work is also ongoing to satisfy the three conditions required before the project would be sanctioned for full development - completion of a full feasibility study (as also referred to in the 2024 Announcement), a clear pathway to syndication for value, and balance sheet capacity.

Clare Davage

VP, Deputy Company Secretary

Anglo American plc

Notes:

Anglo American is a leading global mining company focused on the responsible production of copper, premium iron ore and crop nutrients - future-enabling products that are essential for decarbonising the global economy, improving living standards, and food security. Our portfolio of world-class operations and outstanding resource endowments offers value-accretive growth potential across all three businesses, positioning us to deliver into structurally attractive major demand growth trends.

Our integrated approach to sustainability and innovation drives our decision-making across the value chain, from how we discover new resources to how we mine, process, move and market our products to our customers - safely, efficiently and responsibly. Our Sustainable Mining Plan commits us to a series of stretching goals over different time horizons to ensure we contribute to a healthy environment, create thriving communities and build trust as a corporate leader. We work together with our business partners and diverse stakeholders to unlock enduring value from precious natural resources for our shareholders, for the benefit of the communities and countries in which we operate, and for society as a whole. Anglo American is re-imagining mining to improve people's lives.

Anglo American is currently implementing a number of major structural changes to unlock the inherent value in its portfolio and thereby accelerate delivery of its strategic priorities of Operational excellence, Portfolio simplification, and Growth. The sale of our steelmaking coal and nickel businesses and the separation of our iconic diamond business (De Beers) continue to progress and, once completed, will focus Anglo American on its world-class resource asset base in copper, premium iron ore and crop nutrients.

Group terminology

In this document, references to "Anglo American", the "Anglo American Group", the "Group", "we", "us", and "our" are to refer to either Anglo American plc and its subsidiaries and/or those who work for them generally, or where it is not necessary to refer to a particular entity, entities or persons. The use of those generic terms herein is for convenience only, and is in no way indicative of how the Anglo American Group or any entity within it is structured, managed or controlled. Anglo American subsidiaries, and their management, are responsible for their own day-to-day operations, including but not limited to securing and maintaining all relevant licences and permits, operational adaptation and implementation of Group policies, management, training and any applicable local grievance mechanisms. Anglo American produces group-wide policies and procedures to ensure best uniform practices and standardisation across the Anglo American Group but is not responsible for the day to day implementation of such policies. Such policies and procedures constitute prescribed minimum standards only. Group operating subsidiaries are responsible for adapting those policies and procedures to reflect local conditions where appropriate, and for implementation, oversight and monitoring within their specific businesses.

Disclaimer

This document is for information purposes only and does not constitute, nor is to be construed as, an offer to sell or the recommendation, solicitation, inducement or offer to buy, subscribe for or sell shares in Anglo American or any other securities by Anglo American or any other party. Further, it should not be treated as giving investment, legal, accounting, regulatory, taxation or other advice and has no regard to the specific investment or other objectives, financial situation or particular needs of any recipient.

Forward-looking statements and third party information

This document includes forward-looking statements. All statements other than statements of historical facts included in this document, including, without limitation, those regarding Anglo American's financial position, business, acquisition and divestment strategy, dividend policy, plans and objectives of management for future operations, prospects and projects (including development plans and objectives relating to Anglo American's products, production forecasts and Ore Reserve and Mineral Resource positions) and sustainability performance related (including environmental, social and governance) goals, ambitions, targets, visions, milestones and aspirations, are forward-looking statements. By their nature, such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Anglo American or industry results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Such forward-looking statements are based on numerous assumptions regarding Anglo American's present and future business strategies and the environment in which Anglo American will operate in the future. Important factors that could cause Anglo American's actual results, performance or achievements to differ materially from those in the forward-looking statements include, among others, levels of actual production during any period, levels of global demand and product prices, unanticipated downturns in business relationships with customers or their purchases from Anglo American, mineral resource exploration and project development capabilities and delivery, recovery rates and other operational capabilities, safety, health or environmental incidents, the effects of global pandemics and outbreaks of infectious diseases, the impact of attacks from third parties on our information systems, natural catastrophes or adverse geological conditions, climate change and extreme weather events, the outcome of litigation or regulatory proceedings, the availability of mining and processing equipment, the ability to obtain key inputs in a timely manner, the ability to produce and transport products profitably, the availability of necessary infrastructure (including transportation) services, the development, efficacy and adoption of new or competing technology, challenges in realising resource estimates or discovering new economic mineralisation, the impact of foreign currency exchange rates on market prices and operating costs, the availability of sufficient credit, liquidity and counterparty risks, the effects of inflation, terrorism, war, conflict, political or civil unrest, uncertainty, tensions and disputes and economic and financial conditions around the world, evolving societal and stakeholder requirements and expectations, shortages of skilled employees, unexpected difficulties relating to acquisitions or divestitures, competitive pressures and the actions of competitors, activities by courts, regulators and governmental authorities such as in relation to permitting or forcing closure of mines and ceasing of operations or maintenance of Anglo American's assets and changes in taxation or safety, health, environmental or other types of regulation in the countries where Anglo American operates, conflicts over land and resource ownership rights and such other risk factors identified in Anglo American's most recent Annual Report. Forward-looking statements should, therefore, be construed in light of such risk factors and undue reliance should not be placed on forward-looking statements. These forward-looking statements speak only as of the date of this document. Anglo American expressly disclaims any obligation or undertaking (except as required by applicable law, the City Code on Takeovers and Mergers, the UK Listing Rules, the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority, the Listings Requirements of the securities exchange of the JSE Limited in South Africa, the SIX Swiss Exchange, the Botswana Stock Exchange and the Namibian Stock Exchange and any other applicable regulations) to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in Anglo American's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

Nothing in this document should be interpreted to mean that future earnings per share of Anglo American will necessarily match or exceed its historical published earnings per share. Certain statistical and other information included in this document is sourced from third party sources (including, but not limited to, externally conducted studies and trials). As such it has not been independently verified and presents the views of those third parties, but may not necessarily correspond to the views held by Anglo American and Anglo American expressly disclaims any responsibility for, or liability in respect of, such information.

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Street Calls of the Week

Investing.com

Ulta Beauty

+0.78%

First Commonwealth Financial

Investing.com -- Here is your Pro Recap of the top takeaways from Wall Street analysts for the past week.

InvestingPro subscribers always get first dibs on market-moving AI analyst comments. Upgrade today!

Ulta Beauty

What happened? On Monday, TD Cowen upgraded Ulta Beauty (NASDAQ:ULTA) to Buy with a $725 price target.

*TLDR: TD Cowen upgrades ULTA Buy. Needs TikTok, influencers, Gen Z.

What’s the full story? TD Cowen upgrades ULTA to Buy with a $725 target, betting that new CEO Kecia Steelman transforms this beauty box into something resembling actual growth. The analyst sees Steelman’s "operational expertise" fixing stores, supply chains, and whatever "cross-functional go-to-market alignment" means in corporate-speak.

The thesis: ULTA remains the dominant specialty beauty retailer with fat margins, 29,000 SKUs, and a loyalty program that actually works—essentially an asset manager for lipstick and mascara.

But here’s where it gets interesting. TD Cowen argues ULTA desperately needs to become TikTok’s beauty BFF, courting influencers while transforming stores into "wellness destinations"—because apparently selling makeup isn’t enough anymore. The analyst wants more "editorial marketing presence" and "community building," which translates to: stop being boring and start being where Gen Z discovers products.

They’re betting ULTA leverages its scale to lock down hot brands before competitors do, without letting them disappear into the retail abyss.

Classic retail turnaround story, except this time with better margins and shinier packaging.

Roblox

What happened? On Tuesday, Freedom Capital Markets initiated Roblox (NYSE:RBLX) at Hold with a $99 price target.

*TLDR: Roblox streams toward $9.5 billion bookings. Regulatory hellfire threatens growth momentum.

What’s the full story? Freedom Capital projects a 7.5x EV/bookings multiple on their FY27 $9.5 billion estimate, betting Roblox keeps printing money like a digital casino for kids. The analyst sees this gaming platform as the industry’s lone bright spot—democratizing video games while hoovering up 150+ million daily users and generating cash flows that make traditional publishers weep.

Q4 looks juiced thanks to gift card season, with bookings and DAUs rocketing 50% and 80% in FY25.

But here’s where the fairy tale gets ugly: multiple U.S. states are suing over safety failures, facial age verification is spooking users, and Freedom Capital spots "a bit soft" trends as the company cracks down on fake accounts. Margins face a squeeze as Roblox throws more money at developers and beefs up safety measures—essentially paying protection money against regulatory hellfire.

The analyst models FY25 bookings at $6.7 billion with 24.3% EBITDA margins, slightly above management’s suspiciously conservative guidance. Freedom Capital projects steady expansion through FY27, hitting $9.5 billion in bookings, though consensus dreams even bigger at $9.565 billion.

The real question lurking: whether Roblox can maintain its growth trajectory while navigating the minefield of child safety regulations and slowing user momentum.

Waters Corp.

What happened? On Wednesday, Wolfe Research upgraded Waters Corp. (NYSE:WAT) to Outperform with a $480 price target.

*TLDR: Wolfe upgrades undervalued WAT despite BD dilution. Management execution justifies higher valuation than today.

What’s the full story? Wolfe Research is upgrading WAT because apparently buying quality assets at a discount still works in this market as reports of value investing’s death have been greatly exaggerated (via Berkshire’s cash position overall being at record levels.).

The stock is trading at roughly 17x 2026 EV/EBITDA and 22.6x FCF, a 10-12% haircut to peers who frankly aren’t running half as tight a ship. Sure, the BD Life Sciences bolt-on might water down the organic growth story like cheap whiskey in a frontier saloon, but Wolfe’s analysts figure management knows what they’re doing.

The premium’s compressed from 25% to 15% post-deal, which seems about right for a company that just ate something that might give it indigestion. But here’s the thing: above-average core growth, beats on pro forma targets, gorgeous free cash flow, and a management team that actually delivers?

That cocktail’s worth more than today’s price, even if the BD acquisition makes the story marginally less pure.

Roku

What happened? On Thursday, Jefferies upgraded Roku (NASDAQ:ROKU) to Buy with a $135 price target.

*TLDR: Jefferies sees 20%+ growth, cleanest revision story.

What’s the full story? Jefferies smells blood in the water on Roku.

The analysts see the Street’s limp 15% year-over-year growth guess for 2026 Platform revenue as low-hanging fruit—try 20% or better once the DSP rockets fire (Amazon’s ramp, Trade Desk’s relentless march), political ad dollars flood in, subscriptions keep compounding, and that home-screen overhaul finally drops.

Management’s still swinging the cost-discipline axe hard enough that mid-single-digit opex growth can bankroll double-digit revenue for years. In a sector full of guidance cuts and excuse-making, Roku shapes up as the cleanest upward revision story on the board heading into 2026.

Citigroup

What happened? On Friday, JPMorgan upgraded Citigroup (NYSE:C) to Overweight with a $124 price target.

*TLDR: JPMorgan upgrades Citi, believes transformation story. Expects everything to be fixed eventually, somehow.

What’s the full story? JPMorgan throws Citigroup a lifeline, upgrading the perpetual turnaround story to Overweight because—get this—they believe in transformation. The analysts figure Citi’s revenue concentration makes it the perfect casino bet on "solid economy and strong markets," which surely nothing could disrupt.

Here’s the punchline: JPMorgan expects Citi to simultaneously fix its efficiency ratio, satisfy its regulatory overlords on those pesky consent orders, eliminate stranded costs like some corporate Marie Kondo, and somehow monetize that albatross DTA. All while outperforming peers on RoTCE—because if there’s one thing markets reward, it’s a bank promising to get its house in order tomorrow.

The analysts seem convinced these improvements will "continue over time," that delightfully vague phrase meaning somewhere between next quarter and the heat death of the universe.

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Peabody Energy Is Maintained at Neutral by UBS

Dow Jones Newswires

Peabody Energy

-0.62%

This news item displays a headline only and has no other text.

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Roblox Shares Have Little Upside for 2026, JPMorgan Says — Market Talk

Dow Jones Newswires

Roblox

-3.56%

Roblox could see engagement headwinds, slowing bookings growth and compressing margins in 2026 and as a result, the shares have little upside, say JPMorgan analysts, who downgrade the stock to neutral from overweight. The facial age estimation rollout in January plus a ban in Russia could each drag down engagement, and while the analysts say Roblox should deliver 20% bookings growth next year, they don't see much upside "unless new viral hits emerge or advertising ramps, which we're not counting on." Meanwhile, higher developer expense will weigh on margins. "We don't think the company can grow its way out of margin compression in 2026, " the analysts say. (nicholas.miller@wsj.com)

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