When it comes to investing in the stock market, making informed decisions is crucial, and insights from Wall Street experts can be invaluable. Based on the recommendations of top analysts ranked by TipRanks, a platform that assesses their past performance, we present five stocks that have garnered significant attention:
1. Salesforce (CRM):
Salesforce, a cloud-based customer relationship management software provider, recently announced its first price hike in seven years. Despite challenges in the cloud industry, BMO Capital analyst Keith Bachman believes that the company’s new generative artificial intelligence products and price increases in core cloud services can drive growth in fiscal year 2025. Bachman maintains a buy rating with a revised price target of $255.
2. Dell (DELL):
As the PC market stabilizes following a post-pandemic decline, Deutsche Bank analyst Sidney Ho sees potential in Dell’s Client Solutions Group (CSG) and expects PC shipments to rise in the second half of 2023. Ho maintains a buy rating and raises the price target to $60, highlighting the company’s strong capital returns program as a source of EPS upside.
3. Rivian Automotive (RIVN):
The U.S. electric vehicle maker, Rivian, has impressed investors with better-than-expected deliveries and strong execution. Mizuho analyst Vijay Rakesh predicts the company could surpass its 50,000 vehicle production guidance for 2023. Rakesh maintains a buy rating and raises the price target to $30, projecting significant vehicle deliveries in 2024 and 2025.
4. Mobileye Global (MBLY):
Mobileye, an Israel-based provider of autonomous driving technology, is benefiting from the growing demand for electric vehicles and advanced driver-assistance systems. Rakesh remains bullish on the stock, with an increased price target of $48, anticipating higher SuperVision system sales due to ramped-up production from key customer Zeekr.
5. Alphabet (GOOGL):
Amidst the exponential growth of generative artificial intelligence, Alphabet, Google’s parent company, continues to be a major player in the tech industry. Tigress Financial Partners analyst Ivan Feinseth believes that Alphabet’s integration of AI functionality and strategic acquisitions will help maintain its dominant position across various technology trends. Feinseth holds a buy rating with an increased price target of $172.
While these stocks show promising growth potential, remember that investing involves inherent risks. Always conduct thorough research and consider consulting with a financial advisor before making any investment decisions.