Every time there is major carnage in the stock market, you see top companies trade into the single digits. During the global financial crisis in 2008 and 2009, stocks like Bank of America traded in the low-to-mid single digits. This time is no different, as well-known companies, some considered sector leaders, have been crushed and are now single-digit midgets.
We have been screening the top sell-side firms that we cover looking at changes and new commentary on each firm’s list of top stocks to buy. All major Wall Street brokerage firms have a list of top picks that they show their institutional and retail customers. At Raymond James, this list is called the Analyst Current Favorites.
The Raymond James Analyst Current Favorite contains current favorite stock ideas from the analysts in Equity Research. Analysts may only have one “buy” idea (from their stocks under coverage rated Strong Buy or Outperform) on the list at any given time. We screened the list and found five stocks trading under $10 that could be massive bargains now and have big upside to the price targets. All are rated Strong Buy.
This company in the gaming business could be an acquisition target. Everi Holdings Inc. (NYSE: EVRI) engages in the provision of technology solutions to the casino gaming industry. It operates through two segments.
The Games segment provides solutions directly to gaming establishments to offer patrons gaming entertainment related experiences such as leased gaming equipment, sales and maintenance related services of gaming equipment, gaming systems and ancillary products and services.
The FinTech segment allows gaming establishments to offer patrons cash access services and products including access to cash at gaming facilities via ATM cash withdrawals; credit card cash access transactions and point of sale debit card cash access transactions; check-related services; fully integrated kiosks and maintenance services; compliance, audit and data software; casino credit data; and reporting services and other ancillary offerings.
Raymond James has a gigantic $14 price target on the shares, and the consensus price target on Wall Street is $13.50. The shares closed Wednesday at $4.01, up a staggering 27% on the day.
This off-the-radar biotech play is an interesting idea for aggressive accounts to consider. Flexion Therapeutics Inc. (NASDAQ: FLXN) operates as a biopharmaceutical company, which engages in the development and commercialization of novel and local therapies. It specializes in the treatment of patients with musculoskeletal conditions, including osteoarthritis. It offers products under the Zilretta brand.
The company recently entered into an exclusive license agreement with HK Tainuo and Jiangsu Tainuo for the development and commercialization of Zilretta. HK Tainuo will pay Flexion an upfront payment of $10 million. Flexion also will be eligible to receive up to $32.5 million in aggregate development, regulatory and commercial sales milestone payments.
The Raymond James price objective is a massive $23, though the consensus price target is higher at $25.89. The stock closed most recently at $8.50, up over 11% on Wednesday.