The S&P 500 is close to another record. Here are the stocks Wall Street sees ahead from here
Amazon logo seen displayed on a smartphone.
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the S&P 500 is a few centimeters from a record, recently stimulated by actions mobilized for an economy in reopening like Boeing and the banks. Wall Street analysts believe a new group of stocks will lead the way from here.
CNBC PRO has selected stocks for the S&P 500 with a “buy” rating of over 75% of analysts covering the names at this point. From this pool, we selected the top 20 names ranked based on their upside potential against their 12-month average price targets among analysts.
Among the preferred names are now several mega-cap tech stocks, suggesting that the recent sideways and downward moves in Big Tech stocks in recent weeks are making stocks attractive at current prices.
Several FAANG shares – the group of names of tech giants referring to Facebook, Amazon, Apple, Netflix and Google-parent Alphabet – have struggled recently. Apple and Netflix shares fell 5% and 9% respectively in 2021.
But some investors might view the relatively weak performance of tech stocks as a buying opportunity. Amazon, Microsoft, Facebook, and Alphabet are all on Wall Street’s favorites list with a potential increase in value.
Here are some of Wall Street’s favorite stocks that analysts say will lead the way from here: