In last week’s blog post we covered Daily Insider Transactions (hot stocks from the best corporate insiders); this week we decided to find fresh investing inspiration from the popular Daily Analyst Recommendations tool.
To reveal the most compelling stock opportunities we limited the results to only the top 15 analysts out of all the 4,563 analysts ranked by TipRanks. Using this ranking system, investors can make better, data-based investing decisions by only following analysts with the highest success rate and average return.
Let’s start by selecting the following filters for the recommendation type:
We also chose stocks of all market cap size from all sectors, and ranked the analysts on a 1-year basis against no benchmark. From the stocks pulled up we scanned the list for stocks recommendations by top-15 analysts- which resulted in the following stock selection:
1. Wells Fargo
The No.1 analyst on TipRanks, Gerard Cassidy, has just reiterated his Buy rating on troubled bank Wells Fargo (WFC). His $60 price target represents a 13.16% upside from the current share price of $53.02. While the RBC Capital analyst is bullish on the stock, the analyst consensus rating of Hold reflects the market’s cautious attitude to WFC following last year’s fake-account revelation. Share prices fell on Friday as the estimated number of unauthorized accounts balloons to 3.5 million. Read more about Wells Fargo’s latest scandal update here>>>
2. Upland Software
Canaccord Genuity’s Richard Davis says he would aggressively buy Upland Software (UPLD) on any kind of pullback. The company, which delivers cloud-based work-management software, has an impressive margin trajectory, says Davis. He is predicting 12-month upside potential of 17.6% for the stock, which has a Strong Buy analyst consensus rating on TipRanks.
3. Ichor Holdings
Amit Daryanani of RBC Capital- the 9th top analyst- reiterated his Buy rating on Ichor Holdings (ICHR) on May 11 with a $24 price target (18.64% upside). Shares in ICHR, which manufactures gas and chemical delivery systems for semiconductors, have more than doubled in the last six months. Daryanani also has a strong track record on ICHR stock specifically with an 80% success rate across his 5 ratings:
4. Forterra
Robert Wetenhall recommends pipe and precast product maker Forterra (FRTA). Wetenhall reiterated his buy rating on the stock on May 12 with a $23 price target (16.63% upside from current share price of $19.72). FRTA management expect the company to benefit from positive market fundamentals with improved highway spend from the FAST Act and higher state-level budgets.
5. Salesforce
Salesforce.com (CRM) is “one of the healthiest long-term growth stories in our SaaS/applications software universe”, says top Oppenheimer analyst Brian Schwartz. He reiterated his buy rating on the stock with a $95 price target (6.7% upside).
According to Oppenheimer: “CRM is a proven market share taker that possesses disruptive products and a powerful corporate culture, and is led by a visionary CEO. We think business fundamentals are robust and could get even better as adoption of SaaS and data analytics technologies expands.”
Schwartz’s take on the stock is reflective of the general Salesforce market consensus. As the CRM stock analysis page shows, 20 top analysts have published buy ratings on the stock in the last three months:
