Telephone & Data Systems (TDS: NYSE)

Telephone and Data Systems (TDS) is a U.S.-based telecom company that has been steadily growing through strategic investments in fiber and broadband infrastructure. In Q1 2024, TDS deployed 28,000 marketable fiber addresses and expanded its total service addresses by 12% year-over-year, reaching 1.7 million. This expansion enhances its market power and positions the company for continued growth.

CEO Leroy Carlson expressed optimism about TDS’s growth prospects, highlighting that investments in broadband are driving revenue and profitability. In Q2, TDS focused on balancing subscriber growth with financial discipline, leading to solid ARPU growth, cost management, improved profitability, and increased free cash flow.

We are bullish on TDS above $19.00-$20.00, with an upside target of $30.00-$31.00.

WK Kellogg (KLG: NYSE)

WK Kellogg (KLG) is capitalizing on its cereal business and implementing a new sustainable strategy, “Feeding Happiness,” to address global food system challenges. This initiative reflects the company’s commitment to both people and the environment, positioning it for long-term impact.

For 2024, WK Kellogg Co expects a mid-single-digit EBITDA increase despite flat sales projections. The company has seen a 50% increase in standalone adjusted EBITDA, reflecting a recovery from a 2021 fire and labor strike. It also flipped to a net profit of $15 million, compared to a loss of $152 million the previous year, signaling a strong turnaround.

We are bullish on KLG above $15.50-$16.00, with an upside target of $23.00-$24.00.

Ethereum (ETHUSD)

The market has had a strong week, with Ethereum closing with a 9% price increase. The Fed’s 0.50% interest rate cut on Wednesday triggered a bullish reaction across the crypto space, helping ETH break above the $2,400 level. With buyers returning, momentum is shifting back in favor of the bulls, and the current targets for Ethereum are $2,600 and $2,900, which will also act as key resistance levels.

The former resistance at $2,400 has now turned into a critical support level. As long as this level holds, buyers will have the upper hand. Looking ahead, Ethereum is finally showing signs of recovery after months of bearish price action dominated by sellers.