A number of global stocks that trade in the U.S. have the potential to more than double over the next 12 months, according to average analyst price targets.
Pro screened for U.S.-traded stocks of overseas-headquartered firms covered by 10 or more analysts. The table below lists 11 stocks that analysts give over 100% upside potential in their local currency over the next 12 months. Investors should note that these stocks are exposed to foreign exchange fluctuations.
line The company recently unveiled its plans for its Shaakichiuwaanaan lithium project in James Bay, Québec. "In our view, the shows attractive project economics and reinforces the potential for PMET to become an important global hard rock lithium player," said Desjardins analysts led by Frederic Tremblay in a note to clients on Aug. 22. The investment bank has a "speculative buy" rating and a price target of 16.50 Canadian dollars on the stock.
line Similarly, analysts at Guggenheim Securities are bullish on the stock over the next 12 months. "We forecast VALN operating margins expanding to a mid-40% range over time and assume a 21% tax rate after expiration of ," said Guggenheim analyst led by Evan Wang in a note to clients on Aug. 14. Investors also cautioned that the stock carries some specific risks, however.