This Analyst With 87% Accuracy Rate Sees Over 13% Upside In Amazon.com - Here Are 5 Stock Picks For Last Week From Wall Street's Most Accurate Analysts
Portfolio Pulse from Avi Kapoor
Wall Street analysts have varying success rates in predicting market movements, but Benzinga's Analyst Ratings API curates high-quality stock ratings. Toggle.ai found these ratings can be used as trading indicators. The article highlights five recent stock picks from the most accurate analysts, including upgrades and maintained ratings for GoDaddy (GDDY), Amazon (AMZN), Papa John's (PZZA), L3Harris Technologies (LHX), and SMART Global Holdings (SGH), with expected upsides ranging from 11% to over 13%.
January 16, 2024 | 12:06 pm
News sentiment analysis
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POSITIVE IMPACT
Mark Kelley from Stifel maintained a Buy rating on Amazon and raised the price target from $173 to $175, seeing over 13% upside. Amazon's Audible is reducing its workforce by 5%.
The price target increase and maintained Buy rating by a highly accurate analyst could boost investor confidence, despite the workforce reduction at Audible.
CONFIDENCE 87
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Analyst Michael Olson from Piper Sandler upgraded GoDaddy from Neutral to Overweight, with no specific price target mentioned. GoDaddy recently refinanced its Tranche B-5 term loans.
The upgrade by a high-accuracy analyst suggests a positive outlook, potentially influencing investor sentiment and driving short-term price appreciation.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Seth Seifman from JP Morgan upgraded L3Harris Technologies from Neutral to Overweight with a price target of $240, anticipating a 15% surge. The company is collaborating with Booz Allen Hamilton.
The upgrade and collaboration news could drive positive market sentiment, potentially leading to a short-term increase in LHX's stock price.
CONFIDENCE 83
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
Eric Gonzalez from Keybanc maintained an Overweight rating on Papa John's and increased the price target from $75 to $80, seeing around 11% upside. The company had downbeat earnings for Q3.
The positive rating and increased price target could outweigh the impact of the Q3 earnings miss, suggesting potential for short-term stock growth.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Quinn Bolton from Needham maintained a Buy rating on SMART Global Holdings and raised the price target from $22 to $24, seeing around 12% upside. The company reported Q1 adjusted EPS that topped estimates.
The positive earnings report and increased price target by a reputable analyst could lead to bullish sentiment and a short-term rise in SGH's stock price.
CONFIDENCE 83
IMPORTANCE 70
RELEVANCE 80