Following our bullish comments on Action Alerts PLUS holding Vulcan Materials (VMC) during yesterday's December Members-Only call and today's Daily Rundown , where we named the shares one of our favorites for members, especially newer ones, for the coming year, JPMorgan has upgraded VMC to "Overweight" and lifted its price target to $200 from $185.

One of the arguments behind the upgrade is prospects for further pricing improvement for concrete and aggregates in 2023. Another is that more restrained energy prices, especially those for diesel, in 2023 should help drive margin improvement.

Earlier this week, the Energy Information Administration shared its outlook for lower diesel prices in 2023 vs. 2022, but noted they are likely to remain above those for 2019-2021. We'll monitor the trends in diesel prices and the implications for Vulcan's business as well as other portfolio holdings such as United Parcel Service (UPS) and PepsiCo (PEP) .

Meanwhile, portfolio holding Chipotle (CMG) was named by research firm Bernstein as a top pick for 2023 while UPS shares had their price target at BofA Global Research upped to $193 from $180.