All the Wall Street firms we follow here at 24/7 Wall St. keep a list for their institutional and retail clients of high-conviction stock picks. These generally are the companies they not only like on a longer-term basis, but stocks that usually have big upside to the assigned target price. With June almost over and the second half of 2021 right around the corner, many Wall Street firms have tweaked their lists to account for potential changes the rest of the year.
The analysts at Raymond James who contribute to the firm’s well-respected Analysts Current Favorites list of stocks to buy have to provide one stock from their coverage space for inclusion in the list, and hence it is considered the favorite choice. We screened the list, looking for companies that are not overextended or overbought, and that have the biggest percentage upside to the analysts’ price targets. We found four that appear to be very good ideas for aggressive growth investors looking to reset portfolios for the rest of the year.
It is important to remember that no single analyst report should be used as a sole basis for any buying or selling decision.
This is a smart way for investors to play the fast-growing communications and content sector. EchoStar Corp. (NASDAQ: SATS) provides broadband satellite technologies and broadband internet services. It operates in two segments.
The Hughes segment provides broadband satellite technologies and internet services for home and small to medium-sized businesses. It provides broadband network technologies; managed services; equipment, hardware and communication solutions, as well as satellite services to service providers and enterprise customers. It also designs, provides and installs gateways and terminal equipment. This segment designs, develops, constructs, and provides telecommunication networks comprising satellite ground segment systems and terminals for mobile system operators and enterprise customers.
The EchoStar Satellite Services segment provides satellite services using its owned and leased in-orbit satellites and related licenses on a full-time or occasional-use basis to the U.S. government service providers, internet service providers, broadcast news organizations, content providers and private enterprise customers, which include aeronautical and government enterprises. It serves in North America, South and Central America, Asia, Africa, Australia, Europe, India and the Middle East.
Raymond James has a massive $63 price target on the shares, which is well above the Wall Street consensus target of $40. The stock closed Thursday at $26.62 a share. Hitting the Raymond James target would be a gain of over 100%.
This company is at the forefront of cybersecurity and the stock has awesome growth potential. Ping Identity Holding Corp. (NYSE: PING) is a leader in identity access and management. Its products safeguard enterprise applications and data by providing controls around user authentication, access and more.
Ping’s single-sign-on technology helps streamline user workflow by providing a single password for multiple applications to reduce log-ins. Additional product features include consumer identity management, Internet of Things and application programming interface management. Ping differentiates with a history of complex deployments across hybrid networks.