Core Insights - Oakmark Select Fund outperformed the S&P 500 Index in Q4 2025, returning 8.42% compared to the index's 2.66% [1] - The fund's performance was driven by strong contributions from the communication services and financial sectors, while industrials negatively impacted performance [1] Company Overview: Targa Resources Corp. (NYSE:TRGP) - Targa Resources Corp. is a leading midstream natural gas and natural gas liquids (NGL) company, controlling 90% of the fractionation capacity in Mont Belvieu, the largest hub for NGLs globally [3] - The company generates approximately 90% of its earnings through multi-year fee-based arrangements, providing stability against market fluctuations [3] - As of January 13, 2026, Targa's stock closed at $180.28 with a market capitalization of $38.795 billion [2] Performance Metrics - Targa Resources Corp. experienced a one-month return of -1.15% and a 52-week decline of 12.27% [2] - Despite recent pressures from uncertainty around Permian oil production growth, Targa is viewed as well-positioned for future growth [3] Investment Sentiment - Targa Resources Corp. was held by 50 hedge fund portfolios at the end of Q3 2025, an increase from 48 in the previous quarter, indicating growing interest [4] - However, there are opinions suggesting that certain AI stocks may offer greater upside potential compared to Targa Resources Corp. [4]

Group 1 - TTM Technologies, Inc. (NASDAQ:TTMI) achieved an all-time high stock price of $96.45 during intra-day trading, closing at $93.24, which represents a 19.71% increase [2][3] - Needham & Company raised its price target for TTM Technologies from $79 to $105, indicating a 12.6% upside from the latest closing price, while maintaining a "buy" recommendation [2][3] - The price target upgrade followed the participation of TTM Technologies' President and CEO Edwin Roks and CFO Dan Boehle at the Needham Growth Conference [3] Group 2 - TTM Technologies is involved in producing technology products such as mission systems, radio frequency components, RF microwave/microelectronic assemblies, and advanced printed circuit boards [4] - For the fourth quarter of 2025, TTM Technologies aims to achieve net sales between $730 million and $770 million, with diluted earnings per share projected between $0.60 and $0.70 [4]

Core Insights - Erasca Inc. (NASDAQ:ERAS) experienced a significant stock price increase, reaching a three-year high following an 83% price target upgrade by HC Wainwright, raising it from $6 to $11 while maintaining a "buy" recommendation [1][2]. Group 1: Stock Performance - On the day of the announcement, Erasca's stock price peaked at $7.56 during intra-day trading, ultimately closing at $7.51, reflecting a 20.47% increase [1]. - The stock's performance is attributed to positive investor sentiment following the price target upgrade [1]. Group 2: Clinical Data Presentation - The price target upgrade coincided with Erasca's presentation of preliminary clinical data at the 44th Annual JP Morgan Healthcare Conference, where the company reported two confirmed partial responses and one unconfirmed partial response for its drug ERAS-0015 [3]. - Additional unconfirmed responses were noted in patients receiving 8 mg doses, with consistent pharmacokinetics observed across all evaluated dose levels [4]. Group 3: Future Expectations - Topline results from the ongoing clinical study are expected to be released in the first half of 2026, indicating a timeline for further developments in the company's drug pipeline [4].

Group 1 - Devon Energy Corporation (NYSE:DVN) is considered one of the 10 cheapest oil and gas stocks to invest in, with a current price target of $40 implying a 12% upside from current levels [1] - Barclays maintained a Hold rating on Devon Energy, while Bernstein lowered its price target from $48 to $42, citing short-term price pressure in the oil market [1] - Roth Capital forecasts that Devon Energy's 2026 production will slightly exceed its outlook, but anticipates the Bakken will experience the largest declines among its main producing assets [2] Group 2 - Devon Energy operates as an independent energy company involved in the development, exploration, and production of natural gas, natural gas liquids, and oil across the United States [3] - The company was incorporated in 1971 and is based in Oklahoma City, Oklahoma [3]

Group 1 - Range Resources Corporation (NYSE:RRC) is identified as one of the 10 cheapest oil and gas stocks to invest in [1] - Barclays maintains a Hold rating on RRC with a price target of $44, indicating a 31.3% upside from current levels, which is higher than the median Wall Street analysts' upside of 25.71% [1] - Roth MKM also reiterates a Hold rating with a lower price target of $36, which is the lowest among Wall Street ratings [1] Group 2 - On December 31, 2025, Range Resources announced plans to redeem the entire $600 million outstanding balance of its 8.25% senior notes due 2029, scheduled for January 15, 2026 [2] - The redemption will be financed through the existing revolving credit facility, allowing the company to retire higher-cost debt and reshape its capital structure [2] Group 3 - Range Resources is an independent company involved in the development, acquisition, and exploration of natural gas and oil properties, primarily in the Appalachian region [3]

Group 1 - PBF Energy Inc. is recognized as one of the largest independent petroleum refiners and suppliers of various petroleum products in the United States [2] - The stock was double upgraded from Underweight to Overweight by Piper Sandler, with a revised price target of $40, indicating a 22% upside potential from the current share price [3] - The company expects the rebuild activities at its Martinez refinery, which has been operating at partial capacity since early 2025 due to fire damage, to progress into February [4] Group 2 - Despite lower organic cash flow generation compared to peers, insurance proceeds from the fire incident are expected to support the balance sheet and potentially provide shareholder returns if margins improve [5] - PBF Energy is positioned to benefit from the U.S. strategy in Venezuela, as it already purchases crude from Chevron and could increase its intake, which may enhance refining operations and margins [6]

Group 1 - Halliburton Company (NYSE:HAL) is recognized as one of the largest providers of products and services to the global energy industry [2] - Susquehanna raised Halliburton's price target from $29 to $36, indicating an upside of over 10% from current levels, reflecting better-than-expected US drilling and completions activity [3] - Halliburton's stock has surged by over 15% since the beginning of 2026, driven by market speculation on the potential impact of US actions in Venezuela [4] Group 2 - The company had previously filed an international arbitration case against Venezuela for hundreds of millions in broken contracts, which could lead to compensation if a more US-friendly administration replaces the Maduro regime [5]

Core Insights - Valero Energy Corporation (NYSE:VLO) is recognized as a top high-yield crude oil stock, particularly benefiting from potential increases in Venezuelan oil supply due to U.S. policy changes [1][2]. Group 1: Company Overview - Valero Energy is the world's leading independent petroleum refiner and a significant producer of low-carbon transportation fuels [2]. - The company operates the largest refinery on the Gulf Coast, designed to process heavier crudes, including those from Venezuela [3]. Group 2: Market Performance - On January 8, Valero's stock reached an all-time high as investors anticipated benefits from increased Venezuelan oil supply [3]. - The share price of Valero has increased by nearly 35% over the past year [5]. Group 3: Analyst Insights - Analyst Theresa Chen from Barclays noted that Valero has the capacity to process an additional 300,000 to 400,000 barrels per day (bpd) of Venezuelan oil [3]. - Michael Burry, a notable investor, expressed confidence in Valero, highlighting that Gulf Coast refineries have been underutilized and could see improved margins [4]. - Mizuho analyst Nitin Kumar raised Valero's price target from $192 to $197, anticipating a strong Q4 performance, while maintaining a 'Neutral' rating [4].

Company Overview - AAR Corp. (NYSE:AIR) is a significant player in the aerospace and defense sector, providing components, engineering services, and various products to the aerospace industry [2]. Stock Performance - AAR Corp.'s shares have increased by 39.7% over the past year and by 16.7% year-to-date [2]. Analyst Ratings and Price Targets - RBC Capital raised its price target for AAR Corp. from $90 to $105 while maintaining an Outperform rating, citing the company's potential for mergers and acquisitions due to a healthy leverage ratio [2]. - Keybanc also maintained an Overweight rating in January, setting a price target of $93, highlighting contributions from parts distribution activity and market share gains to the company's recent quarterly performance [2]. Market Demand - Jim Cramer emphasized the strong demand for AAR Corp., noting that aerospace is a significant theme for 2026, as the company engages in leasing commercial jets and repairing engines [3].

Core Insights - Heartland Advisors' "Heartland Value Fund" reported a 2.61% gain in Q4 2025, underperforming the Russell 2000® Value Index which returned 3.26% [1] - The fund's underperformance was primarily due to stock selection issues in the healthcare sector [1] - Small-cap stocks have shown significant performance improvements, nearly catching up to large caps, attributed to increased earnings and compelling valuations [1] Company Highlights - Alexander & Baldwin, Inc. (NYSE:ALEX) is a publicly traded real estate investment trust with a market capitalization of $1.508 billion and a share price of $20.73 as of January 12, 2026 [2] - The stock experienced a one-month return of -1.10% but gained 20.73% over the last 52 weeks [2] - Heartland Value Fund initiated a position in Alexander & Baldwin in summer 2024 to increase its real estate exposure, which was previously underweight compared to its benchmark [3] Hedge Fund Interest - Alexander & Baldwin, Inc. was held by 17 hedge fund portfolios at the end of Q3 2025, a slight decrease from 18 in the previous quarter [4] - While the potential of Alexander & Baldwin as an investment is acknowledged, the company is not among the 30 most popular stocks among hedge funds [4] - The fund suggests that certain AI stocks may offer greater upside potential and less downside risk compared to Alexander & Baldwin [4]