Investing

5 Outstanding Stocks to Buy That Trade Below $10 and Have Huge Upside Potential

Nokia

This telecommunications company ruled the cell phone arena until the advent of the smartphone in 2007. Now it has re-emerged as a top meme stock. Nokia Corp. (NYSE: NOK) owns two main businesses: 1) Nokia Networks, a network infrastructure equipment supplier to global wireless and wireline operators, and 2) Technologies, its patent/IPR licensing activities.

The company posted some good news when it recently indicated it expects to revise its fiscal 2021 guidance upward, citing continued strength in its business supported by “good cost control” and strength in several of the company’s end markets.

Top Wall Street analysts feel that the market is currently overstating the extent of sales losses from currency, China exposure and its lost contracts with Verizon. Most believe investors should position for the upgrade cycle that likely will continue to play out over the next 12 months.

Cowen’s $8 target for Nokia stock compares with the much lower $6.03 consensus target. On Friday, the shares closed trading at $6.10.

Polypid

Shares of this off-the-radar company have huge upside potential. Polypid Ltd. (NASDAQ: PYPD) a late-stage biopharmaceutical company that develops, manufactures and commercializes products based on polymer-lipid encapsulation matrix platform to address unmet medical needs.

The company’s lead products includes D-PLEX100, which is in Phase 3 clinical trial for the prevention of sternal (bone) surgical site infections (SSIs), as well as for the prevention of abdominal (soft tissue) SSIs. The company is aiming to improve surgical outcomes through locally administered, controlled, extended-release therapeutics.

Cantor Fitzgerald recently started coverage with an Outperform rating and a massive $24 price target. No consensus target was available. The stock was last seen on Friday at $7.93 per share.