5 Upgraded Stocks Ready To Rally Into 2021

The stock market is putting together an impressive rally and looks poised to retest previous highs.
 
The POWR Ratings can help you identify the stocks with the best chances of outperformance. Some industries showing strength are healthcare, insurance, and housing.
Here is a quick look at five of the more intriguing POWR Rating upgrades: PPG Industries (PPG), Paychex (PAYX), Dover (DOV), DaVita (DVA), and Goosehead Insurance (GSHD).
 
PPG Industries (PPG - Get Rating)

Coatings applied for protection and decoration are big businesses as evidenced by PPG’s success. PPG’s business segments range from commodity chemicals and glass to optical and specialty materials, performance, and applied coatings, and industrial coatings.

The POWR Ratings show PPG has “A” grades in the Peer Grade, Buy & Hold Grade, and Trade Grade components. PPG is ranked first of 69 stocks in the Chemicals category. The company’s ’19 price return was 32.81%. PPG’s three-month price return is 21.84%. The stock’s five-year return is 42%.

The market’s best analysts are bullish on PPG, setting an average price target of $148.15, indicating the stock has a 10% upside. PPG has increased its dividends for nearly a quarter-century without exception. PPG’s brass recently upgraded its sales volume expectations for the third quarter.

The bottom line is the strong demand for paint and coatings should help PPG sustain its current price or climb even higher.

Paychex (PAYX - Get Rating)

Now that the economy is bouncing back, hiring is picking up and payroll processors such as PAYX are set to rake in the cash. PAYX also provides human resources and employee benefits outsourcing services for businesses of varying types and sizes.

Take a look at the PAYX POWR Ratings, and you will find “A” grades in the Peer Grade, Trade Grade, and Buy & Hold Grade components. PAYX is ranked first of 57 publicly traded companies in the Outsourcing – Businesses Services segment.

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