These are the stocks that analysts are most interested in
When it comes to investing, it is always a good bet to follow the money. No matter how good a company is, no matter how undervalued it is, as big and safe as the dividend is, if the market isn’t interested, the price action in stock prices will wallow. Therefore, tracking analysis sentiment in stocks is a good indicator of turning points. When analytical sentiment changes, it can profoundly affect the flow of money into or out of a stock. Today we look at the three most upgraded stocks of the quarterly reporting season for the first quarter of 2022. These stocks follow waves of positive sentiment fueled by secular trends that we see pushing stock prices even higher.
MarketBeat.com – MarketBeat
Airbnb is in the nexus of travel trends
Airbnb (NASDAQ: ABNB) and its extensive network of services forms the nexus of travel and hospitality trends today. On the one hand, we have people who are either looking to distance themselves or have become accustomed to the AirBNB lifestyle, while on the other, the travel industry is anticipating a very strong summer this year indeed. That’s why the company received 24 positive comments in the past 90 days and why new analysts are reporting. Marketbeat.com’s consensus rating rose to a firm Hold-next-on-Buy from firm Hold over the past 30 days, but the price target has fallen slightly lower. However, Marketbeat.com’s consensus price target is still 68% above current price action and trending higher in the 3 and 12 month comparisons.
“The travel recovery that began in 2021 has accelerated to the first quarter of 2022. Despite global headwinds in the quarter, Nights and Experiences Booked surpassed pre-pandemic levels, crossing 100 million for the first time, fueling strong global demand for travel.” shows.” Airbnb said in its earnings release.
EOG Resources A well-positioned game on energy
EOG Resources (NYSE: EOG) is a “small-cap” energy game (compared to big guys like ExxonMobil (NYSE: XOM†) but one that is well positioned in Texas and the Caribbean. The company has received 21 positive comments in the past 90 days, which is saying something because it has 22 analysts with current coverage. They rate the stock as a solid buy and sentiment is moving higher. However, Marketbeat.com’s consensus price target is only about 10% above recent price action, but it is also on an upward trend. The high price target is more in line with our view on the stock and implies about 34% of the upside potential. It should be noted that the last 11 comments have all had a price target that was above consensus.
Raymond James is the most recent to comment on the stock and analysts there are upgrading it to a Strong Buy. They didn’t change their $170 price target, the second highest on Wall Street, but said they saw a chance of more than 40% gains from that target. That works out to about $238 a share or just 100% up.
Occidental Petroleum is also getting an upgrade…
Western petroleum (NYSE: OXY† has been in the news because of Warren Buffet, but that’s not all the company is willing to pay for it. Not only is it a well-positioned vertically integrated global energy game, but the analysts are improving it. The company has received 20 analyst updates in the past 90 days and comes with a price target similar to that of EOG Resources. The consensus price target is just a few digits above the price action, but leads it higher in the 30, 90, and 365 day comparisons. The high price target belongs to the most recent series and the trend in that figure is also higher.