This Analyst With 86% Accuracy Rate Sees Around 55% Upside In Nvidia - Here Are 5 Stock Picks For Last Week From Wall Street's Most Accurate Analysts

Author: Avi Kapoor | August 26, 2024 07:36am

U.S. stocks settled higher on Friday with the Dow Jones index surging more than 450 points, following comments from Fed Chair Jerome Powell at the Jackson Hole Economic Symposium.

Wall Street analysts make new stock picks on a daily basis. Unfortunately for investors, not all analysts have particularly impressive track records at predicting market movements. Even when it comes to one single stock, analyst ratings and price targets can vary widely, leaving investors confused about which analyst’s opinion to trust.

Benzinga’s Analyst Ratings API is a collection of the highest-quality stock ratings curated by the Benzinga news desk via direct partnerships with major sell-side banks. Benzinga displays overnight ratings changes on a daily basis three hours prior to the U.S. equity market opening. Data specialists at investment dashboard provider Toggle.ai recently uncovered that the analyst insights Benzinga Pro subscribers and Benzinga readers regularly receive can successfully be used as trading indicators to outperform the stock market.

Top Analyst Picks: Fortunately, any Benzinga reader can access the latest analyst ratings on the Analyst Stock Ratings page. One of the ways traders can sort through Benzinga’s extensive database of analyst ratings is by analyst accuracy. Here’s a look at the most recent stock picks from each of the five most accurate Wall Street analysts, according to Benzinga Analyst Stock Ratings.

Analyst: Zachary Fadem

Analyst Firm: Wells Fargo
Ratings Accuracy: 89%
Latest Rating: Maintained an Overweight rating on O’Reilly Automotive, Inc. (NASDAQ:ORLY) and raised the price target from $1,200 to $1,250 on Aug. 22. This analyst sees around 12% upside in the stock.
Recent News: On July 24, O'Reilly Automotive reported worse-than-expected second-quarter financial results and issued FY24 guidance below estimates.

Analyst: William Stein

Analyst Firm: Truist Securities
Ratings Accuracy: 89%
Latest Rating: Maintained a Buy rating on Analog Devices, Inc. (NASDAQ:ADI) and slashed the price target from $275 to $266 on Aug. 22. This analyst sees around 16% upside in the stock.
Recent News: On Aug. 21, Analog Devices posted better-than-expected third-quarter financial results.

Analyst: Justin Post

Analyst Firm: B of A Securities
Ratings Accuracy: 87%
Latest Rating: Maintained a Buy rating on Uber Technologies, Inc. (NYSE:UBER) with a price target of $88 on Aug. 23. This analyst sees around 18% upside in the stock.
Recent News: On Aug. 22, the company announced a multiyear strategic partnership to bring Cruise autonomous vehicles to the Uber platform.

Analyst: Trevor Walsh

Analyst Firm: JMP Securities
Ratings Accuracy: 87%
Latest Rating: Reiterated a Market Outperform rating on Palo Alto Networks, Inc. (NASDAQ:PANW) with a price target of $380 on Aug. 20. This analyst sees about 8% gain in the stock.
Recent News: On Aug. 19, Palo Alto Networks posted better-than-expected fourth-quarter financial results, issued strong guidance and authorized an additional $500 million for repurchase.

Analyst: Hans Mesesmann

Analyst Firm: Rosenblatt
Ratings Accuracy: 86%
Latest Rating: Maintained a Buy rating on NVIDIA Corporation (NASDAQ:NVDA) with a price target of $200 on Aug. 22. This analyst sees around 55% upside in the stock.
Recent News: Nvidia is expected to announce its latest quarterly results on Wednesday, Aug. 28.

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