96% Of S&P 500 Stocks Show Upside Potential Vs. Street Estimates: Which Offers The Best Opportunity?
Portfolio Pulse from Piero Cingari
96% of S&P 500 companies are trading below Wall Street targets, indicating potential profits. SPDR S&P 500 ETF Trust (SPY) fell 3.7% in April, the worst month since September 2023. Only the Energy Select Sector SPDR Fund (XLE) avoided losses, while the Real Estate Select Sector SPDR Fund (XLRE) dropped 10%. High inflation and geopolitical risks have increased market volatility, presenting buying opportunities. Top contrarian stocks include Globe Life (GL), Caesars Entertainment (CZR), Warner Bros. Discovery (WBD), Bio-Rad Laboratories (BIO), and Carnival Corp (CCL), all showing significant gaps between current prices and analyst targets.
April 18, 2024 | 5:01 pm
News sentiment analysis
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POSITIVE IMPACT
Bio-Rad Laboratories faces a downturn but holds a 55.51% potential upside according to analysts.
The maintained price target amidst a market downturn indicates strong analyst confidence in BIO's recovery.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Carnival Corp's stock dropped significantly, but analysts see a 52.20% upside.
Despite recent losses, steady analyst targets suggest confidence in CCL's recovery potential.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Caesars Entertainment's recent decline is met with a bullish 61% price target from analysts.
The minimal adjustment in price targets despite the downturn reflects a strong analyst outlook for CZR.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Globe Life Inc. plummeted after a critical report but has since rebounded, with analysts seeing a 100% upside.
Despite a significant drop due to a short seller report, the strong rebound and maintained analyst targets suggest high recovery potential for GL.
CONFIDENCE 85
IMPORTANCE 95
RELEVANCE 100
POSITIVE IMPACT
Warner Bros. Discovery's price fell, yet a 57.19% upside is forecasted.
Despite a significant year-to-date decline, the potential upside suggests analyst belief in WBD's value recovery.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Energy Select Sector SPDR Fund was the only sector to avoid losses in April.
As the only sector ETF to avoid losses, XLE's performance indicates resilience in the energy sector despite broader market challenges.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 70
NEGATIVE IMPACT
SPDR S&P 500 ETF Trust fell 3.7% in April, marking a significant downturn.
The ETF's performance directly reflects the overall market downturn, influenced by high inflation and geopolitical tensions.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 80
NEGATIVE IMPACT
Real Estate Select Sector SPDR Fund experienced a 10% downturn in April, the worst among sectors.
XLRE's significant loss reflects the broader impact of high inflation and market volatility on the real estate sector.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 80