While the stock market has seen record gains this year, several of its best performing companies may be due for a pullback. Throughout 2024, all three major stock averages have hit high after high. Year-to-date, the tech-heavy Nasdaq Composite has led the charge, surging 30% through Friday. The broad market S & P 500 and the blue-chip Dow Jones Industrial Average , meanwhile, have risen 24% and 14%, respectively.
Pro, using its stock screener tool , screened for stocks in the S & P 500 whose consensus analyst price target implies at least 5% potential downside, using data as of Dec. 17. Below are a few companies that turned up. Tesla has been on a tear following the victory of President-elect Donald Trump, even though the former president has been viewed as unfriendly to clean energy stocks. Since Nov. 5, the stock has soared about 67% through Friday, just about the entire year's performance.