(C) Reuters. 3 Top Stocks Analysts Predict Will Rally By 20% Or More
The current market volatility has spooked some investors, which is why David Cohne recommends stocks that analysts think will rally. Stocks such as Regeneron Pharmaceuticals (NASDAQ:REGN), Arcelor Mittal (MT), and Boyd Gaming (NYSE:BYD) have high upside potential based on their average price targets.A strategy many investors practice is to follow the recommendations of Wall Street analysts. The easiest way to do this is by looking at analyst price targets. Wall Street analysts are typically responsible for coverage on a select group of stocks based on industry and market size.
Analysts meet with management and other stakeholders to help determine a company’s current and future value based on its financials and growth potential. They use this information to generate earnings estimates and target prices that help them form their overall ratings. While we don’t need to pay too much attention to analyst ratings, we should keep an eye on price targets. A price target is what analysts think the stock is worth per share.
When you take an average of analyst price targets, you can get a good idea of what price a stock could reach. If a stock is trading below its average target price, there is a solid chance it will increase its price. If a stock is trading more than 20% below its average price target, there is a strong chance it will rally, which is why investors should consider stocks such as Regeneron Pharmaceuticals, Inc. (REGN), ArcelorMittal (NYSE:MT), and Boyd Gaming Corporation (BYD).
3 Top Stocks Analysts Predict Will Rally By 20% Or More
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