Top Dow stocks in August and where analysts see them going next

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International Business Machines Corp Nouvelles

Coca-Cola Co,Merck & Co Inc,Mcdonald's Corp

These stocks led the Dow in August and all but two are set up for more gains ahead.

These stocks have led the Dow Jones Industrial Average higher in August, and investors believe all but two of them are poised for more upside. This comes as the month has been a volatile one for stocks. In early August, lackluster jobs data for July sparked fears that the U.S. economy was headed for a recession, sending the market into chaos. That global market sell-off saw the Dow post its worst day in almost two years , dropping more than 1,000 points.

McDonald's is right behind Walmart as the third-best Dow leader this month, according to FactSet, with shares up nearly 9% month-to-date. With 47.4% of investors issuing a buy rating on the stock, its average price target implies 3% upside from Wednesday's close. Among them, Wolfe Research recently reiterated McDonald's at peer perform, saying burger chain's release of collectible cups has conjured up nostalgic feelings.

 

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