5 Stocks in the Spotlight from Wall Street’s Most Accurate Analysts Last Week
U.S. stocks settled higher on Friday, with the Dow Jones index surging more than 350 points during the session.
The Dow Jones closed higher by around 354 points to 51,202.26 on Friday. The S&P 500 rose 0.50% to 7,431.46, while the Nasdaq Composite gained 0.31% at 25,888.84 during Friday’s session.
Wall Street analysts make new stock picks on a daily basis. Unfortunately for investors, not all analysts have particularly impressive track records at predicting market movements. Even when it comes to one single stock, analyst ratings and price targets can vary widely, leaving investors confused about which analyst’s opinion to trust.
Benzinga’s Analyst Ratings API is a collection of the highest-quality stock ratings curated by the Benzinga news desk via direct partnerships with major sell-side banks. Benzinga displays overnight ratings changes on a daily basis three hours prior to the U.S. equity market opening. Data specialists at investment dashboard provider Toggle.ai recently uncovered that the analyst insights Benzinga Pro subscribers and Benzinga readers regularly receive can successfully be used as trading indicators to outperform the stock market.
Top Analyst Picks: Fortunately, any Benzinga reader can access the latest analyst ratings on the Analyst Stock Ratings page. One of the ways traders can sort through Benzinga’s extensive database of analyst ratings is by analyst accuracy. Here’s a look at the most recent stock picks from each of the five most accurate Wall Street analysts, according to Benzinga Analyst Stock Ratings.
Analyst: Ruben Roy
- Analyst Firm: Stifel
- Ratings Accuracy: 90%
- Latest Rating: Maintained a Buy rating on Cadence Design Systems Inc (NASDAQ:CDNS) and raised the price target from $395 to $432 on June 9. This analyst sees around 12% upside in the stock.
- Recent News: On June 8, Cadence announced collaboration with Intel Foundry to accelerate Intel 14A process optimization for HPC and mobile designs.
Analyst: Matt Bryson
- Analyst Firm: Wedbush
- Ratings Accuracy: 89%
- Latest Rating: Initiated coverage on Cerebras Systems Inc (NASDAQ:CBRS) with an Outperform rating and a price target of $270 on June 8. This analyst sees around 25% upside in the stock.
- Recent News: Cerebras Systems said it will release first-quarter financial results, after the market closes on Tuesday, June 23.
Analyst: Matthew Prisco
- Analyst Firm: Cantor Fitzgerald
- Ratings Accuracy: 89%
- Latest Rating: Initiated coverage on Advanced Energy Industries Inc (NASDAQ:AEIS) with an Overweight rating and a price target of $400 on June 11. This analyst sees around 12% gain in the stock.
- Recent News: On June 12, Advanced Energy announced redemption of its remaining 2.50% convertible senior notes due 2028.
Analyst: Aaron Rakers
- Analyst Firm: Wells Fargo
- Ratings Accuracy: 88%
- Latest Rating: Maintained an Equal-Weight rating on Qualcomm Inc (NASDAQ:QCOM) and raised the price target from $160 to $230 on June 12. This analyst expects around 8% surge in the stock.
- Recent News: The company reportedly forged an AI chip agreement with TikTok parent company ByteDance.
Analyst: Timothy Arcuri
- Analyst Firm: UBS
- Ratings Accuracy: 88%
- Latest Rating: Maintained a Buy rating on Applied Materials Inc (NASDAQ:AMAT) and boosted the price target from $515 to $570 on June 10. This analyst expects around 0.2% decline in the stock.
- Recent News: On June 10, Applied Materials announced a $500 million manufacturing expansion at its Tampines facility in Singapore.
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