Brown said that while there was nothing to dislike about the report, the stock is starting to get a little expensive over $90 per share, up almost 30% year to date. After being a shareholder since January, he said that he has swapped out his holdings in favor of the SPDR Healthcare ETF (XLV), so that he can lock in gains, while maintaining exposure to the group.
Finally, Goldman removed Ford Motor (F) from its conviction buy list and put on General Motors
Adami was quick to note that Goldman still seems optimistic on shares of Ford after it raised its price target to $20 from $17. For now, he thinks the trade on Ford is to wait. There could be further downside ahead from this news but with earnings on July 24, he thinks that could be the next catalyst to drive shares higher.
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