It hasn’t been a bad year for the S&P 500, considering that fears around a possible recession overshadowed stock-market forecasts coming into 2023. Year to date, the index has remained resilient, up nearly 14% as of Friday.
But only a handful of names, specifically the magnificent seven mega-cap stocks, accounted for most of those gains; the rest of the market has been largely left behind. Investors hunting for gains have also been able to add risk-free returns from the higher yields US bonds have offered.
For Dave Sekera, Morningstar’s chief US market strategist, now is a good time for investors to bargain-hunt for value stocks that are trading at discounts. In a recent interview with Insider, he shared a list of high-quality picks across various sectors that his firm pegs as trading at deep discounts — between 9% to 42% below their fair market value.
If you’re looking for other ideas of quality picks with even higher upsides, TipRanks compiles a list of strong-buy-rated stocks that are most recommended by top-rated Wall Street analysts.
TipRanks, a stock-market research platform, designates four or five-star ratings to analysts based on three main criteria:
An analyst’s average returns
Profits or losses on recommendations
The volume of corrections and transactions they make
Below is a list of the eight mega- and mid-cap stocks expected to see the highest upsides.
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