(C) Reuters. 3 Recently Upgraded Stocks to Buy in May
Government support, rebounding global demand and rising investor optimism have made analysts upgrade their ratings for Cummins (CMI), McKesson (MCK), and Bluelinx (BXC) to ‘Buy.’ These companies’ impressive quarterly financials, unique product portfolios, and collaborations with industry-leading giants we think make them well-positioned to generate solid returns in the coming months. Read on.The fast-paced economic recovery is helping most industries shrug off their COVID-19-pandemic-era losses and generate record sales and profits. With an annualized GDP growth rate of 6.4% in the fiscal first quarter ended March 2021, the United States is currently one of the fastest recovering economies from the pandemic-driven recession last year, and is way ahead of the eurozone.
The healthcare, housing and oil and gas industries are at the forefront of the economic recovery. These sectors of the economy are contributing significantly to the GDP growth.
Therefore, some Wall Street analysts have recently revised their take on Cummins Inc . (NYSE:CMI), McKesson Corporation (NYSE:MCK), and Bluelinx Holdings Inc . (NYSE:BXC) given their potential to outperform the broader market in the near-term.
3 Recently Upgraded Stocks to Buy in May
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