Top Wall Street firm Oppenheimer is out with a list of its Top 29 best stock ideas. Each of the firm’s analysts was asked to contribute one stock idea that they think could outperform over the next 12 months. This is based on both fundamentals and current market conditions.
From this list of 29 stock picks, we used TipRanks to select 10 stocks with a Strong Buy consensus from the Street. Here we look at the second five of these top stocks- for the first five read our previous blog post here.
Find your own ‘Strong Buy’ stock ideas with the Top Analyst Stocks tool>>
6. Albemarle Corp (NYSE:ALB)
Chemical giant Albemarle has a bright future according to Oppenheimer’s Colin Rusch. “We expect ALB to benefit from its No.1 position in the lithium market as the transportation industry moves toward battery electric vehicles/plug-in hybrid electric vehicles.” He sees the stock rising 56% to $157 in the next 12-18 months. As you can see from the graph below, Rusch is much more bullish than consensus when it comes to price targets:
7. Marvell Technology (NASDAQ:MRVL)
This semiconductor solutions company has made significant progress turning its business around after two transition years- and now its catch-up time, according to Top 100 analyst Rick Schafer. He sees MRVL soaring 42% in the next 12-18 months as restructuring efforts boost operating margins and free cash flow (FCF) generation. And he isn’t alone- the Street’s average price target of $28 still works out at 33% upside potential.
8. Facebook (NASDAQ:FB)
This “Strong Buy” stock is the world’s largest social networking company. Even the Cambridge Analytica data scandal barely dented the company’s massive user base of over 2 billion monthly average users. And “as users upload more personal information, this increases Facebook’s competitive position” states Top 50 analyst Jason Helfstein. His $225 price target indicates 26% upside potential. “FB is under-monetized by 40-50%, according to our analysis” concludes Helfstein. In fact, in the last three months 30 out of 32 analysts have published bullish buy ratings on FB stock.
9. Autodesk (NASDAQ:ADSK)
With 14 consecutive buy ratings in the last three months, it seems like Autodesk is everyone’s top stock. In the words of Oppenheimer’s Koji Ikeda this 3D design company “operates as an industry-standard, must-have technology in nearly every industry it operates in.” The best part is that he sees a very long growth runway for the stock. “The business is well positioned in a large but lightly penetrated construction industry that is yearning for next-generation technologies, like Autodesk’s, to help digitize the industry.” Ikeda envisions 13% upside potential from current levels.
10. Vonage Holdings (NYSE:VG)
This cloud communications company is the No.1 stock for top-ranked Timothy Horan. He is predicting 22% upside potential from the current $11.50 share price. “Within four years, VG has been able to transform itself from consumer-focused to a fledgling cloud communications leader and the next step is to move up-market to larger customers.” Plus he calls the acquisition of Nexmo a ‘key catalyst’. With Nexmo, VG can become a ‘one-stop shop’ for communications and enterprise productivity. Note that VG boasts only buy ratings from the Street in the last three months.
Find your own ‘Strong Buy’ stocks
For further inspiration and new stock ideas, use the Analysts’ Top Stocks tool to find your own stocks. This is the perfect tool for investors who want to find fresh investment ideas based on top analyst buy ratings. You can customize the filters to fit your personal investing strategy: