8 Stocks That Analysts Think Will Double

Now that October has arrived, 24/7 Wall St. wanted to review some of the most aggressive recent analyst calls. It doesn’t get much more aggressive than calling a stock a potential double, so that is where we drew the line. Many other aggressive analyst calls have been made in recent weeks and we have tracked eight stocks where analysts from known firms have called on a stock to double.

24/7 Wall St. tracks dozens of analyst reports and analyst calls each day of the week, which ends up being hundreds of analyst calls by the end of each week. All the following calls were made throughout the month of September. These are shown here in alphabetical order, and the date or timing of each call has been offered up so that readers do not mistake these for breaking news calls.

Included was a share price at the end of September, a target price, the firm making the call, a consensus price target (if available) and a 52-week trading range. This shows the implied upside and where the stock has traded relative to each analyst call.

These are the eight analyst calls we have tracked in recent weeks in which analysts think that the underlying stocks could rise by 100% or more.

DryShips Inc. (NASDAQ: DRYS) was started as Buy with a $5 price target at Deutsche Bank in mid-September. While the shares were at $3.00 at the time, DryShips is a volatile stock and its shares closed out on September 30 at $2.47. The Deutsche Bank research on the sector was very positive at the time, with 2015 expected to be a solid year for growth across shipping. DryShips shares have traded in a 52-week range of $2.44 to $5.00. A move to the Deutsche Bank target would be just over 100% — and it is worth noting that the street-high analyst price target is that $5 target.

ALSO READ: 8 Analyst Stocks Under $10 With Massive Upside Calls

Nxt-ID Inc. (NASDAQ: NXTD) has seen its shares whip around of late on the Apple Pay news and on the Wocket hopes. The last day of September brought a 7% rally in the stock to $2.56, after a firm called Northland Securities initiated coverage of the sub-$100 million stock with an Outperform rating and with a $6 price target. Investors should know that Nxt-ID shares have traded in a 52-week range of $1.36 to $7.25, and it has warrants trading as NXTDW after a recent capital raise. This would represent 134% upside if the firm’s target is realized, but we would also note that Northland was in the underwriting syndicate with Benchmark and Newport Coast Securities for a small financing on September 10. We have asked before: What is a fair price for this stock?

Pacific Ethanol Inc. (NASDAQ: PEIX) was part of a Cowen grouped call among its top clean tech stocks we covered in the middle of September. Cowen’s target price was $29 at the time, and the consensus price target on Tuesday was almost $30. A drop of more than 6% to $13.96 on September 30 now puts the ethanol player in the potential double category. Be advised that the Thomson Reuters shows only three analysts covering this stock, and its 52-week trading range is $2.33 to $23.97.

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