Wall Street’s top analysts are betting on buy-rated stocks like DraftKings and Etsy right now
Boosted by fresh stimulus hopes, the markets have rallied this week. But the overall picture remains one of volatility and uncertainty. As yet no stimulus deal has actually been agreed, and with so many different factors at play (with the coronavirus vaccines, and upcoming elections) it’s not easy to pinpoint stocks poised to outperform.
One way to find the most compelling investing opportunities is to follow the latest stock recommendations from analysts with a proven track record of success. TipRanks analyst forecasting service attempts to pinpoint Wall Street’s best-performing analysts. These are the analysts with the highest success rate and average return measured on a one-year basis — factoring in the number of ratings made by each analyst.
What’s more all six stocks covered below don’t just have the support of one top analyst. These stocks all score a ‘Strong Buy’ Street consensus on TipRanks, based on all the top analyst ratings published over the last three months.
Here are the best-performing analysts’ six favorite stocks right now:
Five-star Needham analyst Brad Erickson has just initiated coverage of sports betting giant DraftKings. He kicked off his coverage with a buy rating and $70 price target.
“We view DKNG as one of the leading beneficiaries as online sports betting and gambling take off in the U.S. – an opportunity we size between $42 and $58 billion annually longer-term” the analyst stated on September 30.
Looking forward, he expects the regulatory tailwind to persist and believes online providers’ access to data creates a structurally better user experience vs. brick & mortar.
“Thanks to DKNG’s data-centric approach to customer acquisition and its leading brand & marketing approach, we believe the company could