5 Stocks In The Spotlight: Wall Street's Most Accurate Analysts Weigh In
U.S. stocks settled mixed on Friday, with the Nasdaq Composite falling around 50 points during the session following the release of the inflation report.
All major indices recorded losses for the week, with the S&P 500 falling 1.4% and the Dow declining 1.2%. The Nasdaq notched a weekly loss of 2.1%.
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 last week’s 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: 89%
- Latest Rating: Maintained a Buy rating on IPG Photonics Corporation (NASDAQ:IPGP) and raised the price target from $92 to $165 on Feb. 13. This analyst sees around 9% upside in the stock.
- Recent News: On Feb. 12, IPG Photonics reported better-than-expected fourth-quarter financial results and issued first-quarter adjusted EPS guidance with its midpoint above estimates.
Analyst: William Stein
- Analyst Firm: Truist Securities
- Ratings Accuracy: 88%
- Latest Rating: Maintained a Hold rating on Microchip Technology Inc (NASDAQ:MCHP) and raised the price target from $68 to $69 on Feb. 11. This analyst sees around 13% downside in the stock.
- Recent News: On Feb. 10, the company announced the pricing of $800 million aggregate principal amount of Convertible Senior Notes due 2030.
Analyst: Matt Bryson
- Analyst Firm: Wedbush
- Ratings Accuracy: 87%
- Latest Rating: Maintained a Neutral rating on Tower Semiconductor Ltd (NASDAQ:TSEM) and raised the price target from $125 to $140 on Feb. 12. This analyst sees around 9% gain in the stock.
- Recent News: On Feb. 11, Tower Semiconductor posted upbeat quarterly earnings.
Analyst: Aaron Rakers
- Analyst Firm: Wells Fargo
- Ratings Accuracy: 86%
- Latest Rating: Maintained an Overweight rating on Arista Networks Inc (NYSE:ANET) and increased the price target from $175 to $185 on Feb. 13. This analyst expects around 31% gain in the stock.
- Recent News: On Feb. 12, Arista Networks reported better-than-expected fourth-quarter financial results and issued first-quarter sales guidance above estimates.
Analyst: Atif Malik
- Analyst Firm: Citigroup
- Ratings Accuracy: 85%
- Latest Rating: Maintained a Buy rating on Nova Ltd (NASDAQ:NVMI) and boosted the price target from $370 to $520 on Feb. 13. This analyst expects around 17% rise in the stock.
- Recent News: On Feb. 12, Nova reported upbeat financial results for the fourth quarter.
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