These 8 ‘strong buy’ stocks are expected to soar by more than 100% to 200%, according to Wall Street’s top analysts
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- This year, investors reaped gains from mega-cap tech stocks.
- Meanwhile, the rest of the stock market was largely left behind.
- These eight stocks could be strong plays as top analysts peg them with high upsides.
Given that fears of a possible recession overshadowed stock-market forecasts for 2023, the S&P 500 hasn’t had a bad year. The index has remained resilient year to date, up nearly 14% as of Friday.
However, only a few names, specifically the magnificent seven mega-cap stocks, accounted for the majority of those gains, leaving the rest of the market far behind. Investors looking for gains have also been able to add risk-free returns from higher yields on US bonds.
According to Morningstar’s chief US market strategist, Dave Sekera, now is a good time for investors to look for value stocks that are trading at a discount. In a recent interview with Insider, he shared a list of high-quality picks from various sectors that his firm believes are trading at deep discounts ranging from 9% to 42% below fair market value.
TipRanks compiles a list of strong-buy-rated stocks that are most recommended by top-rated Wall Street analysts if you’re looking for more ideas of quality picks with even higher upsides.
TipRanks, a stock-market research platform, gives analysts four or five stars based on three main criteria:
- The average returns of an analyst
- Recommendation profits or losses
- The number of corrections and transactions they perform
The eight mega- and mid-cap stocks with the highest expected upside are listed below.
1. Ultragenyx Pharmaceutical
Ticker: RARE
Market cap: $3.13B
Top analysts’ price target: $105.71
Upside: 202.46%
2. Roivant Sciences
Ticker: ROIV
Market cap: $7.19B
Top analysts’ price target: $23.00
Upside: 169.01%
3. Shoals Technologies
Ticker: SHLS
Market cap: $2.76B
Top analysts’ price target: $31.00
Upside: 139.94%
4. Sunrun
Ticker: RUN
Market cap: $2.33B
Top analysts’ price target: $23.36
Upside: 132.67%
5. Viasat
Ticker: VSAT
Market cap: $2.19B
Top analysts’ price target: $43.25
Upside: 127.99%
6. Madrigal Pharmaceuticals
Ticker: MDGL
Market cap: $3.00B
Top analysts’ price target: $309.00
Upside: 126.62%
7. Array Technologies
Ticker: ARRY
Market cap: $2.75B
Top analysts’ price target: $29.40
Upside: 113.51%
8. Agilon Health
Ticker: AGL
Market cap: $5.55B
Top analysts’ price target: $23.67
Upside: 103.00%
