TOP 5 STOCK PICKS - THE BEST OF THE REST
When choosing the next best investment stock, the profit potential is the first thing we look for, of course. Which stocks are priced below current company performance? Is the stock priced below the average consensus?
Many stocks are simply overlooked and abandoned by analysts in the stock hub of Wall Street. This doesn't mean the aforementioned have no potential by any means. In fact, there is an abundance of hot stocks that Wall Street has seemingly turned their back on. In today's article, we take a look at just a handful of stocks certainly worth consideration.
Let’s begin with Capri Holdings (CPRI), the proprietor of the fashion duo, Versace and Jimmy Choo. Currently, the price is ranging around $42. This appears to be a basement range for the stock. With Chinese sales back on the up, providing some much-needed stimulus, the price could easily rise to $48. Offering a lucrative return in the near term future.
Tesla (TSLA), at times, contentious stock, are trading presently near to their significant $250 level of support. It is fairly unlikely that we will see a breach of this level any time soon, leaving plenty of potential to the upside. Bulls will be targeting previous levels in the vicinity of $320. Further to this, more optimistic bulls will have long term targets in the region of $400. It appears the markets have already priced in a weak start to the year following the first quarter close. At the time of writing TSLA is currently trading at $268.42, again offering a sizeable return potential.
Elsewhere, my eye is is trained on the money management firm Invesco (IVZ). As of writing, the stock currently trades at $21.07. With a projection price of $24.50, this presents a terrific long opportunity. My confidence in this potential rise has taken a jump on the back of the recent acquisition of Oppenheimer. Aimed at boosting operational scale in the U.S, this could have a very positive reflection in the weeks and months to come.
Another very striking stock in my sight is that of Wyndham Destinations (WYND), currently trading at $43.03, the timeshare company is favoured by many looking on in, to reach new highs of $62, taking out previous highs of $57.31 per share. This confidence is based on the sheer earnings power of the company and the overall strength of the team tasked with management. For me, this is the best of the bunch.
Gap stock (GPS) is extremely attractive right now! Trading in the present at $25.99 per share, I am positioning myself for a rally in the region of $50. Overall Gap stock has demonstrated poor performance over the past year, down over 20%. However, there is one diamond amongst the average stones, Old Navy. This portion of the Gap enterprise is the flagship performer and the ramp-up in production of this series looks likely to serve towards pushing the price of the brand as a whole.
The final stock I will discuss is the energy company Range Resources (RRC). The current price of $10.16 is presently some way off my projected price of $18, again offering a highly rewarding return. This bias is formed on the recently disclosed plans to naturally reduce debt over the next 5 years, with the potential sale of assets expediting the liability at an advanced rate.
The stock suggestions presented above are just a handful on my watchlist. I find that with due caution and tight risk management, it’s very advantageous to diversify my investment portfolio. Allowing a portion of my capital to grow organically alongside day trading activities in the Foreign Exchange and Cryptocurrency markets, this gives me a new level of freedom to pursue other ventures in my spare time. In the coming weeks, I will follow up with a performance review of my selected stocks and discuss the next batch on my watch list.
If you would like me to analyse any stocks, comment them below and I will pick a few of them! Until then, trade safe....