Happy Tuesday afternoon to everyone on The Street. Here's a snapshot of where markets ended the trading session, plus tomorrow's trade idea delivered to you today.

• 🟥 | US stocks finished lower on the final trading day of 2024, a lackluster end to another banner year for Wall Street.

• 📈 | One Notable Gainer: Stock in pharma player Nutriband surged nearly 13% after the company announced an expedited review process for its abuse-deterrent opioid patch, AVERSA Fentanyl.

• 📉 | One Notable Decliner: Shares of biotech firm Sangamo plummetted more than 56% after Pfizer terminated an agreement to license and develop its hemophilia A gene therapy.

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MARKET MOVERS

NVIDIA, Intel, United Airlines

NVDA (-2.3%) Veteran fund manager reveals shocking Nvidia stock price target for 2025 (The Street)

INTC (+1.2%) LG’s lightweight Gram laptops get new Intel chips and offline AI features (The Verge)

UAL (-1.1%) Passengers, crew of United Airlines flight safe following emergency landing in Albuquerque (ABQ Journal)

BHVN (+4.4%) Biohaven director John Childs acquires shares worth $1.04M (Investing.com)

OVERHEARD ON THE STREET

WSJ: Stocks are on track for their best two years in a quarter-century, though some caution that sustained gains may be unlikely.

Bloomberg: Elon Musk and Mark Zuckerberg led the world's 500 richest people to a record $10T year, fueled by a surge in US technology stocks.

CNBC: The housing market is entering 2025 with a concerning trend: listings are rising, but so is the time they sit on the market.

Barron’s: NVIDIA stock is on track to close the year up more than 175% — but it’s still just the third-best annual performer in the S&P 500. Here are the other two.

CNN: Bernie Madoff's victims have recovered 94% of their losses as the US government fund makes its final batch of payments from history's largest Ponzi scheme.

TOMORROW’S TRADE IDEA, TODAY

Bluebird Bio Gets a Big Bump

Biotech Player in Focus

Bluebird Bio (BLUE) just got a big price bump.

Never heard of it? You’re not alone. The clinical-stage biotechnology company has been developing cutting-edge gene therapies for severe genetic conditions and cancer since 1992 — but it’s not exactly a household name.

That could change soon.

From $2 to $40

Barclays analyst Gena Wang recently upgraded Bluebird Bio to Buy, setting an ambitious price target of $40. Before that, Wang’s price target for the stock was just $2.

What changed? Wang believes the company’s recent 1:20 reverse stock split, implemented to meet Nasdaq’s listing requirements, drastically reshaped its stock structure. This move, paired with robust updates to product valuations, underpins Wang’s bullish stance. 

The revised price target reflects a revaluation of Bluebird’s key products, which hold immense growth potential based on their probability-adjusted cash flow models, according to the analyst.

Not All Bullish on Bluebird

Barclays is more bullish than most. Several sites and brokerages have begun weighing in on Bluebird Bio (BLUE). Of 10 analysts covering the stock, the average rating is a Hold, and while 2 consider it a Buy, 2 more rate it a Sell.

But with the stock closing today’s session at just $8.34, Wang’s upgrade could be one to watch closely. We’ll see if the “bluebird of happiness” decides to visit investors in the new year.

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ON OUR RADAR

NYT: A blackout left over 1.3M Puerto Ricans without power today as the territory prepared for New Year's, with restoration expected to take up to two days.

AP: China's manufacturing activity slowed in December despite recent stimulus measures, amid growing trade risks.

Reuters: A report reveals that inspections to LVMH-owned Dior's production arm in Italy failed to identify major issues.

CNBC: Horse racing is poised for a resurgence despite the closure of America's oldest track.

MONDAY’S POLL RESULTS

Which stock do you think will outperform over the next 12 months?

🟩🟩🟩🟩🟩🟩 Dell (DELL)

🟩🟩🟩🟩🟩🟩 Ingram Micro (INGM)

🟨🟨🟨⬜⬜⬜ TD Synnex (SNX)