Welcome to Extreme Investor Network, where we provide unique insights and information to help you navigate the world of investing. Today, we will be discussing stocks that have led the market’s comeback and could potentially see more upside in the future.
After a significant sell-off in early August, equities have rebounded and are on stronger footing. The S&P 500, Dow Jones Industrial Average, and Nasdaq Composite have all recovered their losses, with gains of roughly 2%, 1%, and 1% respectively in August.
But what comes next for these stocks? Our team at Extreme Investor Network has screened FactSet data to identify stocks that have stood out during the market rebound and may have more room to run. Our criteria included stocks that have hit a fresh 52-week high since August 5, have buy ratings from at least 55% of analysts, and have seen a 10% rise or more since the sell-off.
One stock that caught our attention is pharmaceutical firm Eli Lilly. With shares up nearly 64% in 2024 and 19% in August alone, the stock hit a fresh 52-week high of $972.53 on August 22. Analysts are bullish on Eli Lilly’s future potential, with 67% maintaining a buy rating and average forecasts suggesting over 6% upside.
Another standout is Walmart, with shares climbing over 45% this year and 11% in August. The retailer hit a record high of $76.45 per share on Tuesday after reporting strong fiscal second-quarter results. With consumer spending remaining robust, Walmart raised its full-year sales growth forecast, prompting over 69% of analysts to maintain a buy rating with an average price target implying 6% upside.
In addition to Eli Lilly and Walmart, other stocks on our list include insurance firm Progressive and retailer Ross Stores, which have also notched sharp rebounds.
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