Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Tuesday’s key moments. No man’s land Watch Big Tech holdings Stick with Coterra Energy 1. No man’s land Stocks edged up Tuesday morning, as the market attempted to stage a rebound following a day of losses on Monday. Still, the market remained in no man’s land, with the S & P 500 Short Range Oscillator essentially flat — meaning equities are neither overbought nor oversold. Wall Street’s move higher comes amid positive economic data Tuesday. New home sales rose more than expected in May, despite high mortgage rates, according to the Census Bureau. New construction and home renovations bode well for the Club’s newest holding, Stanley Black & Decker (SWK). We’re continuing to look for an opportunity to add to our small position . 2. Watch Big Tech Another Alphabet (GOOGL) downgrade late Monday: Bernstein went to market perform from outperform (hold from buy), while maintaining a price target of $125 per share. With Alphabet stock now up 40% from its November lows, it’s now “fairly valued” and the risk-reward is balanced, analysts at Bernstein argued. Meanwhile, Citi raised its price target on Meta Platforms (META) to $360 from $315 and reiterated a buy rating on the stock. The firm cited an improving online-advertising market and growing adoption of the Instagram parent’s Reels video offering. Watch your email and texts later Tuesday for a commentary on the GOOGL versus META online ad battle. 3. Stick with Coterra Energy JPMorgan on Tuesday upgraded oil-and-gas producer Coterra Energy (CTRA) to outperform from neutral (buy from hold), citing increased confidence in operations going forward. The firm also noted Coterra’s capital expenditures will likely come in well below the company’s guidance for the year while highlighting its “more attractive relative valuation” at current share levels. JPMorgan analysts slightly lowered their price…
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