Top Analysts Predict Upside for These Stocks Amid Market Volatility
Stocks closed higher on Friday after Treasury yields stabilized, but major indices still recorded losses last week. The Dow Jones index gained over 500 points during the session, but ended with a 0.9% weekly loss. The S&P 500 fell 1.4%, and the Nasdaq lost 2%, bringing both indices' three-week winning streaks to an end.
Despite these losses, some Wall Street analysts are making optimistic predictions about certain stocks. According to Benzinga's Analyst Stock Ratings page, which displays overnight ratings changes on a daily basis, the top five most accurate analysts have made several recommendations in recent days.
The analyst with the highest accuracy rating, 86%, is Atif Malik of Citigroup. He has maintained a Buy rating on Marvell Technology Inc (NASDAQ:MRVL) and increased his price target from $225 to $275. Malik sees around 16% upside in the stock, citing recent news about a custom chip agreement with Alphabet Inc.
Another analyst, Sergey Glinyanov of Freedom Broker, also has an impressive accuracy rating of 85%. He upgraded his rating on Taylor Devices Inc (NASDAQ:TAYD) from Hold to Buy and raised his price target from $67 to $70. This represents around a 25% upside in the stock.