Take Investing Inspiration From These Three Upside-Heavy Stocks

We picked three top stocks with positive price movement- leading us to these three hot stocks we recommend that you keep your eye on:

Neurocrine (NBIX)

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With an incredible upside potential of 68%, this Californian biopharma develops drugs for neurologic, psychiatric and endocrine related disorders. Four-star HC Wainwright analyst Andrew Fein placed a very bullish $130 price target on the stock on May 24- a long way from the stock’s current price of $46.

Its key product- Ingrezza for movement disorder tardive dyskinesia- was approved by the FDA in April. However, Neurocrine recently stated that the drug failed to meet its primary endpoint for the treatment of Tourette’s diseases in children and teenagers. Fein was not too disheartened by the announcement, and instead praised the way the trial had been carried out by Neurocrine.

“In this case, we applaud management for having exactly the right type of attitude in pursuing the clinical path forward for Ingrezza in pediatric TS with laser-focus clarity: with the right dose, in the right patient population, with the right endpoints”. He remains optimistic on the stock and on larger pivotal trials going forward.

Western Digital (WDC)

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Storage solution provider Western Digital is one of the largest computer hard disk drive manufacturers in the world. It has an upside potential of 31% from the current price of $90. Benchmark analyst Mark Miller is the third best analyst out of all the 4,571 analysts tracked by TipRanks. He believes the stock can hit $135 in the next 12 months, which translates into a very significant 50% upside from its share price right now. The stock is benefiting from a number of factors including high demand and limited supply for NAND flash chips.

“We believe investors should continue to focus on the primary drivers of the Western Digital story: the firm’s leadership in storage, the double digit CAGR for storage demand and NAND flash, ability to lead the ramp of next generation 3D NAND chips, the execution of its projected synergistic savings, its strong cash generation and modest valuation” Miller concludes in an optimistic investor report on May 24.

MasTec (MTZ)

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MasTec, an infrastructure engineering and construction company based in Florida, has upside potential of 31% from the current share price of $41 to the 12-month price target from best-performing analysts of $54.

Four days ago, five-star Canaccord analyst Robert Burleson said that investors should see any weakness in the shares as a buying opportunity. He reiterated his buy rating on the stock with a price target of $52 (26% upside).

“We continue to expect strong growth this year (+11% Y/Y) for MTZ driven by solid Oil and Gas demand particularly in first half as large project work is completed” says Burleson. He adds that management expect Communications to resume strong growth in 2018 “amidst robust spending initiatives planned by major industry participants.”

Disclaimer: TipRanks is an independent cloud based service that measures and ranks digitally published financial ...

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