Analysts Are Upgrading These 10 Stocks

Published September 20, 2021 at 9:14 am EDT Updated September 7, 2026 at 12:59 pm EDT

In this article, we discuss the 10 stocks that analysts are upgrading.

The United States (US) economy has recovered from the COVID-19 pandemic faster than expected. According to a data depository maintained by the Department of Commerce, the size of the US economy is now slightly larger than it was before the onset of the coronavirus. This recovery is all the more impressive when viewed in context of the devastation that the virus caused. The US Bureau of Economic Analysis claims that the pandemic recession was the deepest going back over more than seven decades to 1948.

However, this economic downturn was also one of the shortest on record, lasting for just over two months before the markets started bouncing back, according to the National Bureau of Economic Research. Moving forward, several catalysts are likely to spur economic growth. Mark Zandi, the chief economist for financial services company Moody’s Analytics, believes that the US job market will fully recover from the impact of the lockdowns by 2023. Official data indicates that the unemployment rate in the US has plunged from 15% in April 2020 to 5% last month.

Another positive from the pandemic has been the stimulus payments handed by the federal government that have helped keep over 11 million Americans out of poverty, limiting some of the damage from the virus-related recession. The Bureau of Labor Statistics reported earlier this month that job openings in the US stood at close to 11 million in July, a record high over more than two decades and up sharply from 7 million openings in February 2020, just before the virus crisis. All these indicators point to accelerated growth moving forward.

Some of the stocks that analysts have reiterated their positive outlook on recently as the economic recovery continues to gather steam include NVIDIA Corporation (NASDAQ: NVDA), Facebook, Inc. (NASDAQ: FB), Alphabet Inc. (NASDAQ: GOOG), Apple Inc. (NASDAQ: AAPL), and Advanced Micro Devices, Inc. (NASDAQ: AMD), among others discussed in detail below. NVIDIA Corporation and Advanced Micro Devices have benefited from a semiconductor shortage that has pushed prices sky high.

Facebook, Alphabet, and Apple have continued on a growth trajectory accelerated by the pandemic because of the rush towards digital. The S&P 500 has nearly doubled from a March 2020 low and presently stands at a record high. However, investors should be wary of the spread of the Delta variant of the virus, increased skepticism towards vaccinations in some parts of the world, and the possibility of intermittent lockdowns, all factors that are likely to affect the recovery momentum.

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Our Methodology

With this context in mind, here is our list of the 10 stocks that analysts are upgrading. All the firms listed below have had their ratings upgraded by an investment advisory on September 17 or September 16.

The hedge sentiment around each stock was gauged using the data of 873 hedge funds tracked by Insider Monkey. The list is ranked according to the number of hedge funds having stakes in each firm.

Why pay attention to hedge fund holdings? Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by wide margins Between March 2017 and July 2021 our monthly newsletter’s stock picks returned 186.1%, vs. 100.1% for the SPY. Our stock picks outperformed the market by more than 86 percentage points (see the details here). That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.

Analysts Are Upgrading These Stocks

10. Eni S.p.A. (NYSE:E)

Number of Hedge Fund Holders: 3

Eni S.p.A. (NYSE:E) is placed tenth on our list of 10 stocks that analysts are upgrading. The company explores, develops, and produces crude oil and natural gas. It is headquartered in the city of Rome in Italy.

On September 17, investment advisory JPMorgan upgraded Eni S.p.A. stock to Overweight from Underweight with a price target of EUR15, noting that European oil stocks offered outsized exposure to stronger commodity prices.

At the end of the second quarter of 2021, 3 hedge funds in the database of Insider Monkey held stakes worth $69 million in Eni S.p.A., down from 4 in the previous quarter worth $74 million.

Just like NVIDIA Corporation, Facebook, Inc., Alphabet Inc., Apple Inc., and Advanced Micro Devices, Inc., Eni S.p.A. is one of the stocks that analysts are bullish on heading into the third quarter.

9. InterContinental Hotels Group PLC (NYSE:IHG)

Number of Hedge Fund Holders: 6

InterContinental Hotels Group PLC (NYSE:IHG) is ranked ninth on our list of 10 stocks that analysts are upgrading. The firm owns, manages, and leases hotels across the world. It is headquartered in the United Kingdom.

On September 17, investment advisory Berenberg upgraded InterContinental Hotels Group PLC stock to Buy from Hold and hiked the price target to GBP5,400 from GBP4,500, underlining that the firm was well-positioned to beat consensus estimations in 2021.

At the end of the second quarter of 2021, 6 hedge funds in the database of Insider Monkey held stakes worth $10 million in InterContinental Hotels Group PLC, down from 8 in the preceding quarter worth $19 million.

In its Q4 2020 investor letter, Fundsmith LLP, an asset management firm, highlighted a few stocks and InterContinental Hotels Group PLC (NYSE:IHG) was one of them. Here is what the fund said:

“We hardly need to discuss the reasons for the poor performance of InterContinental Hotels. Airline and travel reservations and hotel management have not been happy places to be in the past year, although it is worth noting nowhere near as bad as investing in actual airlines or hotels. InterContinental’s share price fall of -9.9% compares with a drop of -35.1% for the Dow Jones US Hotel and Lodging REIT Index. This illustrates the virtues of InterContinental’s business model in contrast to the industry it serve.

However, whilst they face a difficult situation, we are pleased that management has spent its time and effort managing liquidity and costs in an effort to ensure that they survive these events rather than pointlessly speculating about the likely timescale and course of recovery. We believe that they should not only survive but also strengthen their competitive position.”

8. Accolade, Inc. (NASDAQ:ACCD)

Number of Hedge Fund Holders: 24

Accolade, Inc. (NASDAQ:ACCD) is a Pennsylvania-based company that markets technology solutions to help people navigate the healthcare industry in the United States. It is placed eighth on our list of 10 stocks that analysts are upgrading.

On September 17, investment advisory Baird upgraded Accolade, Inc. stock to Outperform from Neutral but lowered the price target to $54 from $58, highlighting that the shares of the firm were trading at a discount to peers.

At the end of the second quarter of 2021, 24 hedge funds in the database of Insider Monkey held stakes worth $594 million in Accolade, Inc., up from 19 the preceding quarter worth $471 million.

In addition to NVIDIA Corporation, Facebook, Inc., Alphabet Inc., Apple Inc., and Advanced Micro Devices, Inc., Accolade, Inc. is one of the stocks that has received positive coverage from stock analysts recently.

7. Mister Car Wash, Inc. (NYSE:MCW)

Number of Hedge Fund Holders: 31

Mister Car Wash, Inc. (NYSE:MCW) is an Arizona-based company that provides car wash services. It is ranked seventh on our list of 10 stocks that analysts are upgrading.

On September 17, investment advisory Bank of America upgraded Mister Car Wash, Inc. stock to Buy from Neutral with a price target of $23, backing growth based on recovery in miles driven, protection against online disruptors, and industry consolidation.

Out of the hedge funds being tracked by Insider Monkey, California-based investment firm Leonard Green & Partners is a leading shareholder in Mister Car Wash, Inc. with 229 million shares worth more than $4.9 billion.

6. DTE Energy Company (NYSE:DTE)

Number of Hedge Fund Holders: 32

DTE Energy Company (NYSE:DTE) is placed sixth on our list of 10 stocks that analysts are upgrading. The firm engages in utility operations and operates from Michigan.

On September 17, investment advisory Evercore upgraded DTE Energy Company stock to Outperform from In Line and hiked the price target to $127 from $119, noting that earnings growth and regulatory jurisdiction had positioned the stock for an expanded multiple.

At the end of the second quarter of 2021, 32 hedge funds in the database of Insider Monkey held stakes worth $469 million in DTE Energy Company, up from 26 in the preceding quarter worth $205 million.

NVIDIA Corporation, Facebook, Inc., Alphabet Inc., Apple Inc., and Advanced Micro Devices, Inc. are some of the stocks with growth potential in the coming months, alongside DTE Energy Company.

5. ZoomInfo Technologies Inc. (NASDAQ:ZI)

Number of Hedge Fund Holders: 35

ZoomInfo Technologies Inc. (NASDAQ:ZI) is ranked fifth on our list of 10 stocks that analysts are upgrading. The company markets a cloud-based market intelligence platform for sales and marketing teams across the world. It operates from Washington.

On September 17, investment advisory Barclays upgraded ZoomInfo Technologies Inc. stock to Overweight from Equal Weight and raised the price target to $83 from $66, citing attractive valuation based on 2023 estimates for the firm.

Out of the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in ZoomInfo Technologies Inc. with 2.6 million shares worth more than $136 million.

4. Five9, Inc. (NASDAQ:FIVN)

Number of Hedge Fund Holders: 45

Five9, Inc. (NASDAQ:FIVN) is a California-based company that provides cloud software for contact centers globally. It is placed fourth on our list of 10 stocks that analysts are upgrading.

On September 17, investment advisory Piper Sandler upgraded Five9, Inc. stock to Overweight from Neutral but lowered the price target to $200 from $203, noting that the risk/reward setup for the firm was attractive ahead of the shareholder vote on a takeover bid.

At the end of the second quarter of 2021, 45 hedge funds in the database of Insider Monkey held stakes worth $2.1 billion in Five9, Inc., the same as in the preceding quarter worth $1.6 billion.

In its Q1 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Five9, Inc. (NASDAQ:FIVN) was one of them. Here is what the fund said:

“Five9 is a cloud-based contact center as a service software provider that is replacing aging on-premise legacy solutions that dominate the installed base. Companies are being forced to modernize and cloud penetration is still low; Five9 is positioned to benefit and should see further growth driven by its cross-selling add-on modules and an AI product that generates high revenue.”

3. UiPath Inc. (NYSE:PATH)

Number of Hedge Fund Holders: 46

UiPath Inc. (NYSE:PATH) is a New York-based company that markets an automation platform robotic process automation solutions in the US and Japan. It is ranked third on our list of 10 stocks that analysts are upgrading.

On September 17, investment advisory Barclays upgraded UiPath Inc. stock to Overweight from Equal Weight and raised the price target to $71 from $70, underlining relative value in the share on a growth-adjusted basis.

At the end of the second quarter of 2021, 46 hedge funds in the database of Insider Monkey held stakes worth $3.4 billion in UiPath Inc..

In its Q1 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and UiPath Inc. (NYSE:PATH) was one of them. Here is what the fund said:

“We participated in the IPO of UiPath, a developer of software for robotic process automation that uses AI, natural language processing and design to streamline complex processes across a variety of technology environments. The company is an industry leader with a superior solution for leveraging software to optimize workloads. Organizations around the world are beginning to understand the power of automation, with momentum picking up toward fully automating business processes, a $60 billion market today that could grow to $200 billion or more by 2030. UiPath has a unique pricing model, broad partner ecosystem and thoughtful management team supporting one of the strongest growth profiles in technology. Risks we are watching include a partial cloud transition ahead and increased competition from larger software platforms over time.”

2. SVB Financial Group (NASDAQ:SIVB)

Number of Hedge Fund Holders: 49

SVB Financial Group (NASDAQ:SIVB) is placed second on our list of 10 stocks that analysts are upgrading. The company provides an array of financial services and is headquartered in California.

On September 17, investment advisory Wedbush upgraded SVB Financial Group stock to Outperform from Neutral and raised the price target to $700 from $600, noting that the firm had delivered several blowout quarters by emphasizing on innovation.

At the end of the second quarter of 2021, 49 hedge funds in the database of Insider Monkey held stakes worth $1 billion in SVB Financial Group, the same as in the previous quarter worth $1.2 billion.

In its Q1 2021 investor letter, Artisan Partners, an asset management firm, highlighted a few stocks and SVB Financial Group (NASDAQ:SIVB) was one of them. Here is what the fund said:

“Among our top contributors was SVB Financial. SVB Financial Group is a leading provider of banking services to the innovation economy across the US and in key international markets. Headquartered in Silicon Valley, SVB offers financial products to clients in the technology, life science/health care and private equity/venture capital. Total client funds increased 51% to $243 billion in 2020—one of the company’s strongest years—as investors seek differentiated returns in innovative private companies. SVB’s high level of client service and long experience in the industry give it not only a historical data and knowledge advantage, but also a reputational edge. We believe this enables the company to quickly bring products to market and make speedy underwriting decisions. Given SVB’s strong profit growth comes at a time when net interest margins are depressed, we believe shares are priced attractively and added to our position.”

1. American Express Company (NYSE:AXP)

Number of Hedge Fund Holders: 52

American Express Company (NYSE:AXP) is ranked first on our list of 10 stocks that analysts are upgrading. The company provides payments solutions and operates from New York.

On September 16, investment advisory Bank of America upgraded American Express Company stock to Neutral from Underperform with a price target of $169, underlining that the risk/reward on the stock had turned “more balanced” after recent underperformance.

Out of the hedge funds being tracked by Insider Monkey, Washington-based firm Fisher Asset Management is a leading shareholder in American Express Company with 15.3 million shares worth more than $2.5 billion.

In its Q2 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and American Express Company (NYSE:AXP) was one of them. Here is what the fund said:

“In financials, American Express has done an excellent job demonstrating the resiliency of its franchise in the midst of a global pandemic that drove a 60% decline in its core travel and entertainment business. The company’s spend-centric model has been helped by fiscal stimulus ensuring a flush consumer, while management continues to execute well by adding millions of new consumer and small and medium business accounts, which should benefit the franchise over the medium to long term. We remain optimistic regarding the company’s prospects as travel and entertainment activity rebounds, adding to our position in the quarter.”

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