4 Stocks Analysts Think Will Soar Over 35% By StockNews
A solid third-quarter earnings season could offset investors’ concerns over inflation and other lingering issues in the near term, leading to a Q4 rally. It could make sense to invest in fundamentally sound stocks Micron Technology, (NASDAQ:). Foot Locker (NYSE:), NUS, and MRC Global (NYSE:) to your portfolio now. Wall Street analysts expect these stocks to rally more than 35% in the near term.The major stock market indexes have experienced steep losses lately owing to investors’ rotating away from technology stocks amid rising bond yields. The inflationary environment is further being strained by ongoing supply chain disruptions as well rising oil prices. CNBC was also told by Janet Yellen from the Treasury Department that she thinks the U.S. will fall into recession if it fails to fix the borrowing limit, which is before an unprecedented default.
However, promising data for Merck & Co., Inc.’s (MRK) oral COVID-19 treatment has provided some support to the market in addition to expectations of another strong earnings season. In August, Federal Reserve Chairman Jerome Powell indicated that “rate hikes aren’t imminent,” Moreover, according to a Factset report, more S&P 500 companies have issued positive EPS guidance for the third quarter.
It could make sense to buy shares in Micron Technology, Inc., Foot Locker, Inc., Nu Skin Enterprises, Inc., MRC Global Inc., and Nu Skin Enterprises, Inc. Wall Street analysts anticipate these stocks will rise by more than 35% within the next few months.
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