Goldman Sachs Boosts Price Targets on 4 Strong Buy-Rated Stocks

Investing

Published: August 24, 2021 7:35 am

With August almost over and the back-to-school season upon us, the lion’s share of the outstanding second-quarter earnings results have been posted, and analysts and investors on Wall Street are very satisfied with the results. While many investors remain very nervous, especially given the continuing big rally off the market lows, and the lack of a 5% correction in almost a year, the “buy the dip” crowd continues to hold serve, at least for now.

In a series of new reports, Goldman Sachs raised the price targets on some companies that delivered the goods in a big way. Given the increases in price targets, they look to still have some very solid upside potential. Here we spotlight four of those stocks, which are all rated Buy at the firm. Remember that no single analyst report should be used as a sole basis for any buying or selling decision.
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Agilent

This stock has been on fire and is a solid holding for growth investors with a degree of risk tolerance. Agilent Technologies Inc. (NYSE: A) provides application-focused solutions to the life sciences, diagnostics and applied chemical markets worldwide.

Its Life Sciences and Applied Markets segment offers liquid and gas chromatography systems and components; liquid and gas chromatography mass spectrometry systems; inductively coupled plasma mass and optical emission spectrometry instruments; atomic absorption instruments; microwave plasma-atomic emission spectrometry instruments; raman spectroscopy; cell analysis plate-based assays; flow cytometer; real-time cell analyzer; cell imaging systems; microplate readers; laboratory software, information management and analytics; laboratory automation and robotic systems; dissolution testing; vacuum pumps; and measurement technologies.

The Diagnostics and Genomics segment provides arrays for DNA mutation detection, genotyping, gene copy number determination, identification of gene rearrangements, DNA methylation profiling and gene expression profiling, as well as sequencing target enrichment, genetic data management and interpretation support software. It also provides equipment to produce synthesized oligonucleotide.

The Agilent CrossLab segment provides GC and LC columns, sample preparation products, custom chemistries and laboratory instrument supplies, as well as startup, operational, training, compliance support, software as a service, asset management and consultation services.

Investors receive just a 0.43% dividend. The $150 Goldman Sachs price target was lifted to $170. The Wall Street consensus target is $149.87, and Agilent Technologies stock closed on Monday at $170, so the price target may go even higher soon.

BJ’s Wholesale

This is the newest entrant to the discount superstore club, having gone public back in 2018. BJ’s Wholesale Club Holdings Inc. (NYSE: BJ) operates warehouse clubs on the east coast of the United States. It offers perishable, edible grocery, general merchandise and non-edible grocery products, as well as gasoline and other ancillary services. The company also sells its products through its website and mobile app. As of June 30, 2021, it operated 221 warehouse clubs and 151 gas locations in 17 states.

Last week, the membership-based warehouse retailer reported fiscal second-quarter profit and sales that rose above expectations and surprise growth in same-store sales. Net income rose to $111.0 million, while adjusted earnings per share rose by a dime to $0.82, beating the FactSet consensus estimate.

Goldman Sachs raised its $49 price target to $59, well above the $42.05 consensus target for BJ’s Wholesale Club stock. Monday’s closing print was $54.90.