Benzinga
5 Stocks Top Analysts Are Bullish On At The Start Of Q2
The U.S. President Joe Biden’s unveiling of the .3 trillion infrastructure plan aimed at rebuilding American roads, bridges, mass transit, and water infrastructure, has boosted the U.S. market’s morale heading into the second quarter of the year. . But more immediate concerns continue to stoke fear among Wall Street investors as the number of coronavirus cases across the globe continues to rise. In these circumstances, top wall street analysts are favoring the following five stocks, as compiled by TipRanks for CNBC. Here’s a list of the best-performing Wall Street analysts’ five favorite stocks right now, as compiled by TipRanks. Facebook Inc (NASDAQ: FB): Monness analyst Brian White continues to remain bullish on the social media giant despite a recent House hearing which grilled the CEOs of Facebook, Alphabet Inc (NASDAQ: GOOGL) (NASDAQ: GOOG), and Twitter Inc (NYSE: TWTR) on misinformation. The analyst reiterated a “Buy” rating on the stock and maintained a $375 price target, implying a 27% upside potential. According to White, Facebook CEP appeared well-prepared, thoughtful, professional and respectful of the issues at stake and open to improving the social-media platform during the hearing. Though, according to White, the hearing brought to fore certain serious issues that have been brought about by social media and meaningful changes are imperative, the hearing was a “brazen political grandstanding on both sides of the aisle,” and that lawmakers were trying to appeal to local constituents. The subcommittee members also called for the “break up of Big Tech,” and as per White if such events takes place, the valuation of Facebook and other big tech companies could jump even higher. As one of the top 75 analysts tracked by TipRanks, White’s calls see an average annual return of 28.2%, with the success rate landing at 73%. Shares of Facebook closed 1.4% higher at $298.66 on Thursday and have a 52-week high of $304.67 and low of $150.83. Micron Technology Inc (NASDAQ: MU): RBC Capital analyst Mitch Steves reiterated a “Buy” rating and raised the price target to $120 from $110 on the stock, implying a 36% upside potential. Steves’ price target raise comes after the chipmaker’s quarterly earnings beat last week and a better-than-expected outlook. The analyst notes that Micron’s gross margins are “expanding rapidly considering that the firm guided to 41.5% gross margins at the midpoint.” The Wall Street Journal reported last week that Micron and Western Digital are considering a deal that would result in the acquisition of Kioxia for about $30 billion. Steves has a 76% success rate and 35.2% average return per rating and is among the top 30 analysts tracked by TipRanks. Shares of Micron closed 4.76% higher at $92.41 on Thursday and has a 52-week high…
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