U.S. stocks settled mixed on Friday, with the Nasdaq Composite falling around 0.2% during the session. The Nasdaq fell 3% last week, while the S&P 500 and the Dow each declined more than 1%.
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: Asiya Merchant
- Analyst Firm: Citigroup
- Ratings Accuracy: 89%
- Latest Rating: Maintained a Buy rating on Sandisk Corporation (NASDAQ:SNDK) and increased the price target from $150 to $280 on Nov. 7. This analyst sees around 12% upside in the stock.
- Recent News: On Nov. 6, Sandisk reported better-than-expected first-quarter financial results and issued second-quarter guidance above estimates.
Analyst: Ruben Roy
- Analyst Firm: Stifel
- Ratings Accuracy: 87%
- Latest Rating: Maintained a Buy rating on Coherent Corp. (NYSE:COHR) and raised the price target from $140 to $168 on Nov. 6. This analyst sees around 6% upside in the stock.
- Recent News: On Nov. 5, Coherent reported better-than-expected first-quarter financial results and issued second-quarter sales guidance above estimates.
Analyst: William Stein
- Analyst Firm: Truist Securities
- Ratings Accuracy: 87%
- Latest Rating: Reiterated a Hold rating on Microchip Technology Incorporated (NASDAQ:MCHP) and cut the price target from $64 to $60 on Nov. 7. This analyst expects around 5% surge in the stock.
- Recent News: On Nov. 6, the provider of embedded control solutions reported net sales of $1.140 billion for the second quarter, exceeding the midpoint of guidance and growing 6% sequentially.
Analyst: Christopher Dendrinos
- Analyst Firm: RBC Capital
- Ratings Accuracy: 86%
- Latest Rating: Maintained a Sector Perform rating on SolarEdge Technologies, Inc. (NASDAQ:SEDG) and raised the price target from $25 to $34 on Nov. 6. This analyst expects around 17% decline in the stock.
- Recent News: On Nov. 5, SolarEdge Technologies reported better-than-expected third-quarter financial results.
Analyst: Aaron Rakers
- Analyst Firm: Wells Fargo
- Ratings Accuracy: 86%
- Latest Rating: Maintained an Overweight rating on Micron Technology, Inc. (NASDAQ:MU) and raised the price target from $220 to $300 on Nov. 7. This analyst expects a 20% gain in the stock.
- Recent News: On Sept. 23, Micron Technology posted upbeat quarterly results.
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