This Analyst With 86% Accuracy Rate Sees Around 16% Upside In Nvidia - Here Are 5 Stock Picks From Wall Street's Most Accurate Analysts
Portfolio Pulse from Lisa Levin
Five of Wall Street's most accurate analysts have made new stock picks, with potential upsides ranging from 1% to 24%. The picks include Best Buy, Clear Secure, Nvidia, Nutanix, and Splunk, all of which have recently reported better-than-expected financial results.
May 30, 2023 | 11:05 am
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NEUTRAL IMPACT
Wells Fargo analyst Zachary Fadem maintained an Equal-Weight rating on Best Buy and cut the price target from $80 to $75, seeing around 1% upside in the stock.
Fadem's rating is based on Best Buy's better-than-expected Q1 EPS results and reaffirmed FY24 guidance. However, the 1% upside is relatively small, indicating a neutral short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Wells Fargo analyst Aaron Rakers maintained an Equal-Weight rating on Nutanix and raised the price target from $32 to $35, seeing the stock gaining around 19%.
Rakers' rating is based on Nutanix's better-than-expected Q3 financial results. The 19% gain indicates a positive short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Raymond James analyst Chris Caso maintained a Strong Buy rating on Nvidia and boosted the price target from $290 to $450, expecting around 16% gain in the stock.
Caso's rating is based on Nvidia's better-than-expected Q1 results and strong guidance. The 16% gain indicates a positive short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Piper Sandler analyst Rob Owens maintained an Overweight rating on Splunk and raised the price target from $118 to $123, seeing around 24% growth in the stock.
Owens' rating is based on Splunk's better-than-expected Q1 financial results and above-estimate Q2 revenue guidance. The 24% growth indicates a positive short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Stifel analyst Mark Kelley reinstated a Hold rating with a price target of $28 on Clear Secure, seeing around 12% upside in the stock.
Kelley's rating is based on Clear Secure's better-than-expected Q1 EPS and sales results. The 12% upside indicates a positive short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100