The S&P 500 index reached a new record high, marking its fourth consecutive week of gains as U.S. stocks closed higher on Friday. The week ended with the S&P 500 gaining 1.4%, showcasing the market’s positive momentum.
For investors seeking reliable stock picks, the task of discerning trustworthy analysts can be daunting. The variance in analyst ratings and price targets often leaves traders in a quandary, questioning whose insights to heed. However, there is a beacon of hope in the form of Benzinga’s Analyst Ratings API, a goldmine of stock ratings vetted by the Benzinga news desk through esteemed partnerships with leading sell-side banks.
Toggle.ai, an investment dashboard provider, has attested to the merit of the analyst insights available to Benzinga Pro subscribers and readers. Data specialists discovered that these insights can serve as effective trading indicators, capable of outperforming the stock market itself.
Top Analyst Picks: Traders can access the latest analyst ratings on the Analyst Stock Ratings page. Sorting by analyst accuracy is one method to navigate Benzinga’s comprehensive database of analyst ratings. The latest stock picks from the five most accurate Wall Street analysts, as per Benzinga’s Analyst Stock Ratings, are as follows:
- Analyst: Jay McCanless
- Analyst Firm: Wedbush
- Ratings Accuracy: 89%
- Latest Rating: On Feb. 2, 2024, Jay McCanless maintained a Neutral rating on Beazer Homes USA, Inc. BZH and raised the price target from $32 to $33. This analyst foresees around 11% upside in the stock, despite the company’s weaker-than-expected first-quarter results.
- Analyst: Trevor Walsh
- Analyst Firm: JMP Securities
- Ratings Accuracy: 88%
- Latest Rating: On Jan. 31, 2024, Trevor Walsh sustained a Market Outperform rating on Palo Alto Networks, Inc. PANW and raised the price target from $300 to $380. This analyst envisions over 10% upside in the stock, notwithstanding the company’s legal setback involving a substantial payout.
- Analyst: Brian Bittner
- Analyst Firm: Oppenheimer
- Ratings Accuracy: 87%
- Latest Rating: On Jan. 30, 2024, Brian Bittner initiated coverage on Pinstripes Holdings Inc. PNST with an Outperform rating and a price target of $6. This analyst envisions approximately 60% upside in the stock, following Pinstripes’ robust third-quarter performance.
- Analyst: Mark Kelley
- Analyst Firm: Stifel
- Ratings Accuracy: 87%
- Latest Rating: On Feb. 2, 2024, Mark Kelley maintained a Buy rating on Meta Platforms, Inc. META and raised the price target from $405 to $527. This analyst anticipates an approximately 11% surge in the stock, buoyed by Meta’s impressive fourth-quarter financial results and initiation of a quarterly dividend.
- Analyst: Chris Caso
- Analyst Firm: Wolfe Research
- Ratings Accuracy: 87%
- Latest Rating: On Feb. 2, 2024, Chris Caso upgraded the rating on Allegro MicroSystems, Inc. ALGM from Peer Perform to Outperform with a price target of $35. This analyst envisions around 22% upside in the stock, despite the company’s mixed third-quarter financial results.
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