Four Upgraded Stocks To Buy On The Dip

The market has been weak in the last couple of weeks with the S&P 500 being down 8%.

The POWR Ratings can help you identify the best stocks to buy. This exercise is even more important in down markets as upgraded stocks tend to have strong business momentum and investors are using weakness to accumulate shares.

Let’s take a look at four of the more intriguing POWR Rating upgrades: Mercado Libre (MELI), Autodesk (ADSK), General Mills (GIS), and Church & Dwight Company (CHD).
Mercado Libre (MELI)

When it comes to eCommerce stocks, few are as intriguing as MELI. MELI is the top e-commerce company in Latin America. The company also provides a digital payment system to boot, making it easy for those who lack a bank account to shop online.

This POWR Ratings star simply cannot be stopped. MELI has “A” grades in the Industry Rank, Trade Grade, Peer Grade, and Buy & Hold Grade components. Furthermore, MELI is ranked first of 58 publicly traded companies in the Internet category.

The top analysts are bullish on MELI, setting an average price target of $1,366.92, indicating the stock has nearly 7% upside. Out of the 13 analysts who have studied the stock, 11 rates it as a “Buy”, two consider it a “Hold” and none advise selling.

Autodesk (ADSK)

This software and services business provides digital media solutions to those in a litany of industries. ADSK revenue is up 15% compared to this point last year. Furthermore, operating expenses are increasing at a slower rate than the company’s sales. Add in the fact that ADSK’s deferred revenue is up more than 28% and you have all the more reason to be hopeful for this stock. If that weren’t enough to whet your appetite for ADSK, consider the fact that the company is using augmented reality for its premier product dubbed AutoCAD that facilitates software design for clients.

ADSK has “A” grades in the Buy & Hold Grade, Trade Grade, and Peer Grade components. The stock is ranked above all but one in the Software – Business category. The analysts anticipate ADSK will reach $270.46, indicating the stock has around 13% room for upward movement.

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Disclaimer: Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice.

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