If you want to know which stocks analysts are getting excited about right now, turn to TipRanks’ Trending Stocks tool. Over the week, TipRanks’ algorithms have churned through all the Street’s latest ratings to reveal the best-rated stocks right now. Here we look at the results on a one-week basis but you can shift this to one month or even just 72 hours.
These three stocks clearly stand out as compelling picks right now. Check out the bullish ‘Strong Buy’ analyst consensus and the fact that each stock has received over 5 buy ratings in just 7 days. This is with no hold or sell ratings.
Let’s delve in and take a closer look at these three stocks now:
1. Amazon (AMZN)
Amazon has just hosted a special event in Seattle where it took to the stage for an unveiling that was described as “the largest number of devices and features that Amazon has ever launched in a day.” During the Amazon Devices Event, the company expanded its reach in the home and automobile with an onslaught of new innovations largely designed to ultimately make it easier to shop on Amazon.
Five-star Monness analyst Brian White (Track Record & Rating) described it as a ‘rainforest of new innovations.’ Prepare yourself for Alexa Guard which monitors your home and sends suspicious activity alerts, while Cook with Alexa helps out in the kitchen. Also upcoming: new Echo devices, Amazon smart home devices and Fire TV Recast (“a DVR that lets you watch and record live over-the-air TV at Home and on your mobile devices – All with no monthly fees”).
White reiterates a Buy rating on Amazon shares with a price target of $2,300 (16% upside potential), as “the company’s growth path is very attractive across the e-commerce segment, AWS, digital media, advertising, Alexa and more.”
Meanwhile Jefferies’ Brent Thill (Track Record & Rating) ramped up his price target from $2,185 to $2,350 arguing that shares could surge to $3,000 by 2020. This would give AMZN a whopping $1.46 trillion in market value. He explains: “AWS, advertising, and subscription are all growing ~2 times faster than the core and are more profitable. We estimate conservatively these businesses will be on a combined $115B+ run rate by 2021.”
2. Blackstone Group (BX)
Blackstone is a private equity firm that covers both investments and financial advice i.e. on corporate M&A and restructuring. Following the company’s investor day, no less than 6 analysts published buy ratings on the stock. One of these analysts is JMP Securities Devin Ryan (Track Record & Rating).
This top-rated analyst has just boosted his price target from $39 to $43. He writes: “we believe the primary takeaway is the company’s detailed roadmap for significant growth, ultimately to $1T+ of AUM [assets under management] over the next eight years (assets total $439B today).”
Ryan’s take on BX was echoed by Citi analyst William Katz (Track Record & Rating), who left the event impressed by the “multitude of earnings drivers” at Blackstone. He now sees prices spiking 22% to $47.50 due to the company’s “growing competitive moat and longer-term opportunities”.
3. Sarepta Therapeutics (SRPT)
With 8 buy ratings in just one week, analysts are clearly rooting for this cutting-edge biotech. Sarepta specializes in precision genetic medicines to treat rare neuromuscular diseases, such as Duchenne muscular dystrophy.
And now SRPT has received some good news. The FDA has just lifted a clinical hold on the company’s Ph1/2 microdystrophin gene tx trial. The hold was due to a contaminant in research grade raw materials- and SRPT has resolved this by switching to higher grade raw materials.
For Cowen & Co’s Ritu Baral (Track Record & Rating) the FDA’s decision makes sense. She has just reiterated her buy rating on the stock with a $178 price target (15% upside). “As this clinical hold was entirely quality-control driven with no evidence of clinical side effects, we expected FDA to lift the clinical hold.” She does not anticipate any material delay in planned dosing of the pivotal cohort which “we very conservatively expect to start in 1H19”.
Discover the market’s hottest stocks
TipRanks’ new Trending Stocks tool takes advantage of our big data capabilities. We scan stock recommendations from over 4,800 analysts, giving users the most up-to-date and objective picture of the market. The result: we can reveal which stocks analysts are really getting excited about.
At the click of a button users can discover the best, worst and most rated stocks. Looking for investment ideas? This is a great place to start.
