Investing

8 Hot Stocks to Buy That Analysts Loved This Week

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24/7 Wall St. reviews dozens of analyst research reports each day of the week with a goal of finding new ideas for investors and traders alike. The calls seen in the past week show that analysts continue to look favorably on gambling stocks. Dividend-paying real estate investment trusts (REITs) also got a shout-out, as did some newish names among the meme stocks.

Following a U.S. Supreme Court decision in 2018, some 32 states have legalized sports betting, and with a new NFL season just about to start, there are some opportunities among online betting companies.

Caesars Entertainment Corp. (NYSE: CZR) just got a price target boost from $125 to $130 from Stifel. The consensus target is just $102.83, and Caesars stock closed Friday’s trading at $67.65 per share, in a 52-week range of $43.07 to $113.46. The stock has added about 14% so far in 2021, and the company does not pay a dividend.

DraftKings Inc. (NASDAQ: DKNG) received a lot of attention from meme-stock investors in mid-June, and that pulled the online betting firm’s stock back into positive territory. Shares are up about 11% for the year. Needham started coverage last week with a $73 price target, above the $70.80 consensus target. Friday’s closing print was $52.01 a share, in a 52-week range of $34.28 to $74.38. DraftKings does not pay a dividend.

Penn National Gaming Inc. (NASDAQ: PENN) has had an up-and-down year in 2021, with shares up 60% in March and down about 23% currently. Yet, Goldman Sachs has a price target of $124 on the stock, well above the $101.33 consensus figure. Penn National Gaming stock closed at $67.65on Friday in a 52-week range of $50.93 to $142.00. The company does not pay a dividend.

As noted in our review of Goldman Sachs’s recommendations for REIT stocks, there has not been a market correction of 5% in nearly a year. One will come along because one always does. Rather than rotate out of equities and into cash (in a savings or money market account paying less than 1% interest), Goldman suggested looking at dividend-paying REITs.

Hudson Pacific Properties Inc. (NYSE: HPP) pays a dividend yield of 3.89% ($1.00 annually). Goldman Sachs has a $35 price target on the stock, and the consensus target is $28. Friday’s closing price was $25.78, and the 52-week range is $18.62 to $30.35. Hudson Pacific Properties stock has added about 9% for the year to date.

Simon Property Group Inc. (NYSE: SPG) pays shareholders a distribution of 4.67% ($6.00 annually). Goldman Sachs recently raised its $148 price target to $163, while the consensus target is $138.71. Simon Property stock ended trading on Friday at $128.77, and it has a 52-week range of $59.35 to $136.70. The stock has added about 53% so far in 2021.

SL Green Realty Corp. (NYSE: SLG) investors receive a generous monthly 5.16% dividend. Goldman Sachs has set a $93 price target, compared to a consensus price objective of $77. SL Green Realty stock closed Friday at $70.48, in a 52-week range of $41.68 to $85.65. For the year to date, shares are up about 16%.

Meme stocks have lost some of their attraction since those heady days in January and February when small investors jumped on heavily shorted shares like GameStop and AMC, forcing a short squeeze that drove a virtuous (for some investors) cycle and raising share prices by orders of magnitude. Nevertheless, there are a few to keep an eye on.

Robinhood Markets Inc. (NASDAQ: HOOD) did not come public until late June and just released its first quarterly report as a public company. While the company and its underwriters remain in the post-IPO quiet period, Atlantic Equities started the stock with a $65 price target and an Overweight rating. A consensus target has not yet been set. Since going public, Robinhood Markets stock has traded between $33.25 and $85.00, and it closed at $42.64 on Friday. Three of Cathie Wood’s ARK Invest ETFs combined own about 6.34 million shares of Robinhood stock, with a current value of around $285 million.

Teladoc Health Inc. (NYSE: TDOC) has had a tough 2021. The stock trades down about 30% for the year to date, after adding nearly 140% in 2020. Nearly 12% of the float is sold short. Cowen has an Outperform rating and a $188 price target on Teladoc Health stock. The consensus target is up at $227.14, and shares closed Friday at $140.18. Cathie Wood’s ETFs hold a combined 14.98 million shares of Teladoc shares, valued at about $2.03 billion. Teladoc carries a weighting of 5.78% among all ARK investments, second only to Tesla’s 8.42% weighting.

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