5 Stock Picks Last Week From Wall Street's Most Accurate Analysts
U.S. stocks settled higher on Friday, with the Dow Jones index jumping more than 1,200 points during the session. The index notched fresh record highs Friday, topping the 50,000-point milestone.
The Dow Jones closed higher by around 1,207 points to 50,115.67 on Friday. The S&P 500 jumped 1.97% to 6,932.30, while the Nasdaq Composite jumped 2.18% at 23,031.21 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: Asiya Merchant
- Analyst Firm: Citigroup
- Ratings Accuracy: 89%
- Latest Rating: Maintained a Buy rating on Seagate Technology Holdings PLC (NASDAQ:STX) and raised the price target from $460 to $480 on Feb. 6. This analyst sees around 12% upside in the stock.
- Recent News: On Jan. 27, Seagate reported quarterly earnings of $3.11 per share, which beat the analyst consensus estimate of $2.81 by 10.52%, according to data from Benzinga Pro.
Analyst: Ruben Roy
- Analyst Firm: Stifel
- Ratings Accuracy: 89%
- Latest Rating: Maintained a Buy rating on Coherent Corp (NYSE:COHR) and raised the price target from $220 to $235 on Feb. 5. This analyst sees around 3% upside in the stock.
- Recent News: On Feb. 4, Coherent reported quarterly earnings of $1.29 per share, which beat the Street estimate of $1.21 by 6.79%, according to Benzinga Pro.
Analyst: Matthew Prisco
- Analyst Firm: Cantor Fitzgerald
- Ratings Accuracy: 88%
- Latest Rating: Maintained an Overweight rating on Microchip Technology Inc (NASDAQ:MCHP) with a price target of $100 on Feb. 6. This analyst sees around 32% gain in the stock.
- Recent News: On Feb. 5, Microchip Technology posted upbeat quarterly earnings.
Analyst: Michael Ciarmoli
- Analyst Firm: Truist Securities
- Ratings Accuracy: 88%
- Latest Rating: Maintained a Buy rating on RBC Bearings Inc (NYSE:RBC) and increased the price target from $542 to $599 on Feb. 6. This analyst expects around 12% gain in the stock.
- Recent News: On Feb. 5, RBC Bearings posted upbeat quarterly results.
Analyst: Matt Bryson
- Analyst Firm: Wedbush
- Ratings Accuracy: 87%
- Latest Rating: Maintained an Outperform rating on Advanced Micro Devices Inc (NASDAQ:AMD) with a price target of $290 on Feb. 4. This analyst expects around 39% rise in the stock.
- Recent News: On Feb. 3, Advanced Micro Devices reported upbeat financial results for the fourth quarter.
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