Top Analysts Predict Gains for Key Stocks Amid Market Volatility
US stocks ended last month on a high note, with the Dow Jones index recording its fifth consecutive monthly gain. The Dow added over 1% in August, while the S&P 500 and Nasdaq rose by 2.6% and 3.9%, respectively.
Wall Street analysts have varying track records for predicting market movements, but Benzinga's Analyst Ratings API provides a curated collection of high-quality stock ratings from major sell-side banks. The data specialists at Toggle.ai found that using these analyst insights as trading indicators can help outperform the stock market.
The top five most accurate Wall Street analysts, according to Benzinga's Analyst Stock Ratings, are Wamsi Mohan, Dave Kang, Seamus Fernandez, Chris Snyder, and Tim Thein. These analysts have made their latest recommendations, including:
Mohan maintained a Neutral rating on NetApp Inc (NASDAQ:NTAP) with an increased price target of $206, representing around 11% upside.
Kang downgraded Ciena Corp (NYSE:CIEN) to Neutral and reduced the price target from $516 to $413, indicating an 8% potential gain.
Fernandez downgraded Tenax Therapeutics Inc (NASDAQ:TENX) to Neutral from Buy.
Snyder maintained an Equal-Weight rating on Honeywell International Inc (NASDAQ:HON) with a raised price target of $250, representing around 17% surge in the stock.
Thein maintained an Outperform rating on Deere & Co (NYSE:DE) and increased the price target from $700 to $730, indicating around 11% gain.