5 Stocks That Wall Street Loves This Week
Broadcom, Costco and CrowdStrike were among the stocks that Wall Street analysts were pounding the table on this past week.
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Every week, 24/7 Wall St. reports on the top analysts’ research calls from the major brokerage firms and banks that we cover, both inside and outside the United States. We provide details on many of the hundreds of various stock upgrades and downgrades, as well as resumptions and initiations of coverage.
Research analysts typically provide an in-depth look into everything from a company’s business silo and products to balance sheet and financials, while raising, lowering or maintaining their specific price target. This week we found five top stocks that Wall Street analysts are absolutely pounding the table on, and all make sense for equity investors looking for fresh ideas for their stock portfolios.
It is important to remember that many times analysts are providing coverage on companies that their firms’ investment banking teams have provided services for, so while usually very fair, it is part of the equation. It is also important to remember that no single analyst report should be used as a sole basis for any buying or selling decision.
Here are five stocks that Wall Street loves this week.
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Broadcom Inc. (NASDAQ: AVGO | AVGO Price Prediction): Truist Securities reiterated a Buy rating on the sizzling chip stock and lifted the target price to $686 from $659. UBS maintained a Buy rating and moved its $665 price objective to $690. J.P. Morgan kept an Overweight rating, and its target price rose to $715 from $700. The consensus target is $677.67. The shares were trading near $592 on Friday.
Costco Wholesale Corp. (NASDAQ: COST): Truist Securities reiterated a Buy rating on the popular retailer, and oddly the target price slipped to $603 from $606. BMO Capital Markets maintained an Outperform rating and lifted the $560 target price to $580. Evercore ISI also kept an Outperform rating, and its target price rose to $565 from $560. The consensus target is $557.12, and shares of the retail colossus were trading on Friday near $541.
CrowdStrike Holdings Inc. (NASDAQ: CRWD): BTIG Research upgraded the cybersecurity giant to Buy from Neutral and has a $257 target price. The consensus target is $266.10. The stock was seen on Friday near $194, after the company posted outstanding results that beat expectations earlier in the week and prompted the shares to shoot 20% higher.
Dollar Tree Inc. (NASDAQ: DLTR): Piper Sandler raised its Neutral rating on the popular discount retailer to Overweight and hiked the price objective to $181 from $157. Loop Capital upgraded the shares to Buy for Hold and lifted the $140 target price to $200. The consensus target is $158.17. The shares were trading Friday near $149. Some very positive changes in the board of directors had investors buying the shares this week, according to published reports.
S&P Global Inc. (NYSE: SPGI): Goldman Sachs started coverage with a Buy rating and a $485 target price. Barclays initiated coverage with an Overweight rating and a $500 price objective. The consensus target is $488.15. The stock was trading close to $382 per share on Friday.
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Lee Jackson has covered Wall Street analysts' equity and debt research and equity strategy daily for 24/7 Wall St. since 2012. His broad, diverse career, including a stint as creative services director at an NBC affiliate in Austin, Texas, gives him unique insight into the financial industry.
Lee Jackson's journey in the financial industry spans more than 30 years, including nearly two decades as an institutional equity salesperson at Bear Stearns, Lehman Brothers, and Morgan Stanley. His career spanned pivotal sell-side Wall Street events, from the dot-com rise and bubble to the Long-Term Capital Management debacle, 9/11, and the Great Recession of 2008. This reflects his resilience and adaptability amid market volatility.
Lee Jackson’s practical financial industry experience, gained through a career at some of the biggest banks and brokerage firms, is complemented by a lifetime of writing across various platforms. This unique combination allows him to shed light on the intricacies of Wall Street in a way only someone with deep insider experience and knowledge can. Moreover, his extensive network across Wall Street continues to provide direct access for him and 24/7 Wall St., a privilege few firms enjoy.
Since 2012, Jackson’s work for 24/7 Wall St. has been featured in Barron’s, Yahoo Finance, MarketWatch, Business Insider, TradingView, Real Money, The Street, Seeking Alpha, Benzinga, and other media outlets. He attended the prestigious Cranbrook Schools in Bloomfield Hills, Michigan, and has a degree in broadcasting from the Specs Howard School of Media Arts.
