In this article, we discuss the 5 stocks receiving a massive vote of approval from Wall Street analysts. If you want to see more such stocks on the list, go directly to 10 Stocks Receiving a Massive Vote of Approval From Wall Street Analysts.
05. Blueprint Medicines Corporation (NASDAQ:BPMC)
Price Reaction after the Upgrade: -0.41 (-0.74%)
On October 27, Oppenheimer analyst Matthew Biegler catalyzed a significant development for Blueprint Medicines Corporation (NASDAQ:BPMC) by upgrading its market rating from Perform to Outperform. This strategic shift was accompanied by a revised price target of $85.00, indicating an optimistic outlook on Blueprint Medicines’ performance and growth potential. As of the latest market data, Blueprint Medicines Corporation (NASDAQ:BPMC) stock is currently priced at $54.81, reflecting a marginal decrease of 0.7%. This adjustment in market value subsequent to the upgrade suggests a nuanced response from investors to the improved rating and the heightened price target set by Oppenheimer.
04. Snap Inc. (NYSE:SNAP)
Price Reaction after the Upgrade: 0.00 (0.00%)
On October 26, China Renaissance analyst Ella Ji instigated a notable shift in the market dynamics for Snap Inc. (NYSE:SNAP) by upgrading its rating from Sell to Hold. This strategic reevaluation was accompanied by a revised price target of $9.00, indicating a change in perspective on Snap Inc. (NYSE:SNAP) market performance. As of the latest market data, Snap Inc. (NYSE:SNAP) stock is currently valued at $9.30, reflecting a slight increase from its target price of $9.00.
Here is what RiverPark Large Growth Fund has to say about Snap Inc. (NYSE:SNAP) in its Q3 2022 investor letter:
“SNAP shares were our top detractor for the quarter on its July decline from weaker revenue growth relative to guidance (which had been reduced in May) and the fact that management did not provide an outlook for 3Q. Shares subsequently rebounded somewhat as the company announced better-than-expected near-term revenue growth, while announcing a broadbased cost restructuring.
Although the company continues to face near-term macro headwinds and difficult year-over-year comparisons from COVID-fueled quarters last year, we believe SNAP can reaccelerate its revenue growth to greater than 20% annually over the next several years. With TTM revenue of $4.5 billion (as compared with Meta’s $120 billion), 347 million daily average users (about 1/10 of Meta’s), and $14 TTM ARPU (about 1/3 of Meta’s), we believe SNAP has a long runway for both revenue growth and expanded profitability as it improves its platform functionality, continues to grow its audience (daily active users continue to grow at a double-digit rate), and expands its monetization.”
03. Microsoft Corporation (NASDAQ:MSFT)
Price Reaction after the Upgrade: +1.92 (+0.59%)
On October 26, HSBC analyst Stephen Bersey made a significant upgrade for Microsoft Corporation (NASDAQ:MSFT), shifting the stock rating from Hold to Buy. This strategic reevaluation was accompanied by an impressive price target of $413.00 up from $347, indicating a bullish outlook on Microsoft Corporation (NASDAQ:MSFT) market performance and growth potential. As of the latest market data, Microsoft Corporation (NASDAQ:MSFT) stock is currently priced at $329.81, reflecting a modest increase of 0.6%. The adjustment in market value following the upgrade suggests a positive response from investors to the revised rating and the heightened price target set by HSBC.
ClearBridge Value Equity Strategy made the following comment about Microsoft Corporation (NASDAQ:MSFT) in its Q2 2023 investor letter:
“We initiated a small position in Microsoft Corporation (NASDAQ:MSFT) during the quarter, which may seem surprising given our concerns about index concentration. However, we seized the opportunity on a compelling entry point below our business value estimate, due to an anticipated acceleration of demand for Microsoft’s Azure cloud business and incremental revenues from integration of Microsoft’s AI Copilot program into its office platform. We believe this could support double-digit growth, while simultaneously solidifying Microsoft’s competitive position as an AI winner. Even as a small position, we believe Microsoft provides a large portfolio construction benefit given low correlation to the rest of the portfolio.”
02. Intel Corporation (NASDAQ:INTC)
Price Reaction after the Upgrade: +3.02 (+9.29%)
On October 27, HSBC analyst Frank Lee implemented a notable upgrade for Intel Corporation (NASDAQ:INTC), transitioning the stock rating from Reduce to Hold. This strategic shift was accompanied by a significant adjustment in the price target, rising from $27.00 to $33.00, signifying a more optimistic outlook on Intel’s market performance. As of the latest market data, Intel Corporation (NASDAQ:INTC) stock is currently valued at $35.54, reflecting a robust increase of 9.3%. The notable upswing in market value following the upgrade suggests a positive response from investors to the revised rating and the heightened price target set by HSBC.
ClearBridge Large Cap Value Strategy made the following comment about Intel Corporation (NASDAQ:INTC) in its Q3 2023 investor letter:
“We also added to our position in Intel Corporation (NASDAQ:INTC) to take advantage of signs that it continues to make progress on its goal of regaining technology leadership. Intel appears to be executing its technology/product roadmap; the company is on track to ramp up PC and server products over the next 12 months on advanced manufacturing nodes that we believe will be more competitive with chief rival Advanced Micro Devices. We also see green shoots in the PC and server markets, with an increasing possibility of a cyclical recovery in both end markets in 2024.”
01. Adtalem Global Education Inc. (NYSE:ATGE)
Price Reaction after the Upgrade: +6.83 (+15.83%)
On October 27, Baird analyst Jeffrey P. Meuler catalyzed a significant shift in the market sentiment for Adtalem Global Education Inc. (NYSE:ATGE) by upgrading its rating from Neutral to Outperform. This strategic reevaluation was accompanied by an upward revision in the price target, escalating from $47.00 to $55.00. The upgrade was motivated by the anticipation of accelerating growth and improving operating metrics within Adtalem Global Education. As of the latest market data, Adtalem Global Education Inc. (NYSE:ATGE) stock is currently valued at $49.98, reflecting a notable increase of 15.8%. This substantial uptick in market value following the upgrade suggests a positive response from investors to the improved rating and the elevated price target set by Baird.
Ariel Fund made the following comment about Adtalem Global Education Inc. (NYSE:ATGE) in its Q2 2023 investor letter:
“Finally, global leader in for-profit education, Adtalem Global Education Inc. (NYSE:ATGE), traded lower alongside the release of the Biden Administration’s proposal for Gainful-Employment regulations, however management does not expect the new rules to be problematic. Shares came under further pressure following an investor day where ATGE lowered its financial outlook for 2024 on plans to increase its marketing spend to improve brand awareness and invest in the student experience to enhance growth and retention. Although investors remain skeptical of the near-term backdrop, we believe ATGE is on the path to be number one in undergrad and graduate nursing enrollment in the U.S. and the largest producer of African American MDs, PhDs and nurses in the country.”
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