5 Cheap Stocks Hedge Funds Are Bullish On

Pandora Media Inc (NYSE:P) was added to Goldman’s conviction buy list in October, and the firm also upped its price target for the media company to $19 from $17. For the third quarter, Pandora reported $0.07 loss per share, worse than the expected $0.06, while revenue of $351.9 million also fell short of consensus of $366.33 million. David Goel and Paul Ferri’s Matrix Capital Management reported ownership of 22.74 million shares of Pandora Media Inc (NYSE:P) at the end of the third quarter. It is one of the 50 hedge funds in our database that had long positions in the company as of the end of the third quarter.

Flex Ltd (NASDAQ:FLEX) was upped to Conviction Buy by Goldman Sachs in October. The firm thinks that the company’s diversification in business and prospects in “soft goods” such as sneakers provide bright opportunities in the future. Goldman has set a price target of $16 for the Singapore-based electronics company. The stock has gained over 25% year to date. At the end of the third quarter, 31 hedge funds in our database were bullish on Flex Ltd (NASDAQ:FLEX). Larry Robbins’ Glenview Capital owns 38.97 million shares of the company.

Last but not least, analysts at Goldman Sachs think Juniper Networks, Inc. (NYSE:JNPR)’s new switching products increase its chance of getting a chunk of high-end of lucrative data center switching segment. The firm thinks that the California-based networking company has better business prospects than Cisco and Arista Networks. Its new modular switches could get the attention of Google, Facebook, Amazon, which are already using the company’s routing equipment. A total of 27 hedge funds tracked by Insider Monkey were bullish on Juniper Networks, Inc. (NYSE:JNPR), as of the end of the third quarter. The stock is down 0.6% year to date.

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