We recently published a list of 10 Stocks Lead Monday’s Charge Amid Market Bloodbath. In this article, we are going to take a look at where UWM Holdings Corporation (NYSE:UWMC) stands against other stocks that lead Monday’s charge amid market bloodbath.
The stock market kicked off the trading week in a bloodbath, erasing last week’s gains, with all major indices posting heavy losses following President Donald Trump’s confirmation that tariffs on goods from Mexico and Canada are set to take effect on Tuesday.
The tech-heavy Nasdaq posted the biggest loss, down 2.64 percent, followed by S&P at 1.76 percent, and Dow Jones at 1.48 percent.
According to Trump, there was no room left for Mexico and Canada, and his 25-percent tariff for the two countries “will start.” He also signed an additional 10-percent tariff on goods from China.
Despite the market decline, ten companies bucked an overall pessimistic sentiment, making it to the top gainers list mainly due to bullish ratings and earnings performance, among others. In this article, we have detailed the reasons behind their gains.
To come up with Monday’s top gainers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.
A woman examining her finances and a mortgage payment plan on her laptop.
UWM Holdings Corporation (NYSE:UWMC)
UWM Holdings Corporation (NYSE:UWMC) rose by 4.62 percent on Monday to finish at $6.57 apiece after an analyst from Keefe, Bruyette, and Woods upgraded its rating and price target for the company.
In its report released Monday, analyst Bose George raised UWM Holdings Corporation (NYSE:UWMC)’s rating to “outperform” from “market perform” previously while also increasing its price target to $7.5 from $6.5, which represents a 14-percent upside from its latest closing price.
According to George, the outlook adjustment was based on his belief that the stock’s 5-percent decline following its fourth-quarter earnings on February 26 was an overreaction, and that the company is expected to benefit largely from a mortgage market that is now transitioning to normal.
Meanwhile, another analyst from Wedbush maintained its hold rating for UWM Holdings Corporation (NYSE:UWMC) and set a price target of $6.5.
Overall, UWMC ranks 4th on our list of stocks that lead Monday’s charge amid market bloodbath. While we acknowledge the potential of UWMC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than UWMC but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap
Disclosure: None. This article is originally published at Insider Monkey.
