The solid firms on Wall Street that we cover on a daily basis always have one consistent habit. They roll with the markets up or down, and adjust their top picks based on the most current data available to them. With constant shifting metrics, and the markets trading at daily new all-time highs, a refreshed list is just what investors need.
In a new research report, the RBC Capital Markets’ equity research team released their U.S. equity Top Picks List update for June. We screened the list for the stocks with highest upside to the specified target price.
Advance Auto Parts Inc. (NYSE: AAP) makes the list, and auto-parts stores as a whole are having a fantastic year. The brutal winter weather wreaked havoc with cars in general, and the retailers have seen a direct benefit. Investors are paid a miniscule 0.2% dividend. RBC has a $149 price target for the stock. The Thomson/First Call consensus price target is $138.50. The stock closed Thursday at $127.43 a share. A move to the target is a 20% gain for shareholders.
CBS Corp. (NYSE: CBS) may be in the best position of all the broadcast networks and is one of the top picks at RBC. With an outstanding prime time lineup, solid sports franchises like the NFL, March Madness College Basketball, The Masters and other top programming, the venerable network has been an outstanding stock for shareholders. Investors are paid a small 0.8% dividend. The stock is up more than 60% in the past year. The RBC price target is $70. The consensus estimate is $63. CBS closed Wednesday at $60.48. A move to the target is a 17% gain.
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Marvell Technology Group Ltd. (NASDAQ: MRVL) is the tech stock investors have waited on for years for their ship to come in. The key to Marvell’s success is that it is gaining market share at Western Digital and the advent of SSDs has turned out to be a solid catalyst. In addition, hard disk drives are also being used for non-PC applications such as server storage and data centers. Marvell enjoys a 50% share of Western Digital’s enterprise business, which is significant. Investors are paid a 1.5% dividend. RBC has a $23 price target, and the consensus number is $16.82. Marvell closed trading Thursday at $15.22. A jump to the RBC target would be just shy of a 50% gain.
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