3 Hot Stocks That Can Jump This Black Friday

Black Friday is one of the world’s largest shopping bonanzas. In 2016, shoppers spent $1.9 billion online on Thanksgiving Day and another $3.3 billion on Friday, according to Adobe. And this holiday looks set to be even bigger. Consumers plan to spend an average of $743 from Black Friday through Cyber Monday this year. This is up from an average of $505 over the same weekend last year (shows a RetailMeNot survey).

At TipRanks we cover over the latest market activity on over 5000 stocks. We can see what the Street’s best analysts are predicting for major events such as Black Friday. Interestingly, we can also combine the insights of an individual analyst with the overall analyst consensus rating to ensure we find the market’s most promising stocks. Here all three stocks covered below have a ‘Strong Buy’ analyst consensus rating, based on ratings published by analysts over the last three months. Let’s take a closer look now.

Amazon (AMZN)

E-commerce giant Amazon looks set to be one of the key beneficiaries this weekend. Indeed, top SunTrust Robinson analyst Youssef Squali says: “We continue to expect Amazon to have a record-breaking 4Q and holiday season.” Squali has a buy rating on the stock and $1270 price target (10% upside).

He is also a fan of Amazon’s latest moves into the world of apparel: “Calvin Klein will be selling new underwear exclusively through Amazon.com this holiday season as well as through pop-up shops in NYC and Los Angeles. This is just another example of Amazon offering exclusive apparel options (the fastest growing category in e-commerce according to ComScore – see below) as well as broadening its physical footprint in anticipation of the busiest shopping period.” Note that five-star Squali has a very impressive track record on AMZN stock with a 95% success rate and 44% average return.

Overall, TipRanks shows that AMZN has one of the most bullish outlooks out of the stocks we cover. In the last three months, has received 31 buy ratings vs just 1 hold rating. Meanwhile, the average analyst price target of $1,256 suggests potential upside for Amazon of close to 9% from the current share price. You can click on the screenshot below for further analysis on Amazon.

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Disclaimer: TipRanks is an independent cloud based service that measures and ranks digitally published financial advice. TipRanks' natural language processing (NLP) algorithms aggregate and ...

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