As another earnings season picks up, Bank of America says investors may find upside opportunities in certain underowned stocks that could beat expectations. Several U.S. banks are releasing their first-quarter earnings on Friday, offering the first peek at performance since a series of bank failures in March. JPMorgan Chase , Wells Fargo , Citigroup , as well as regional name PNC Financial , are posting their quarterly results before the bell.
The stock is considered a defensive name with promising dividend growth, currently yielding 2.7%. On Thursday, Merck was upgraded by Citi, which said its drug pipeline was underappreciated by the market. More than 70% of analysts covering Merck are bullish on the stock, according to Refinitiv data. Shares are trading about 3.9% below its 12-month consensus price target of $118.96. Medical device maker Resmed also made the list, with a z-score of 0.8 and relative weight value of 0.1.
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