A slew of companies, spanning from Google-parent Alphabet to medical supplier McKesson , are bucking this stagnant market and are on the verge of breaking out to new 52-week highs. Upcoming earnings could be the catalyst that pushes them over the top. About 23% of the companies in the S & P 500 have reported their latest quarterly results, and of these 77% posted a beat on earnings, according to FactSet data as of Tuesday afternoon.
Pro looked for stocks that are within 5% of a 52-week high and are up more than 1% so far this month. We then looked for the names where Wall Street believes the breakout is coming soon. That is, the consensus price target on these stocks call for a gain of at least 5%. Here are the stocks that made the cut, and what analysts have to say about them. Shares of Alphabet could pop following results, providing relief to investors amid a choppy month for markets, analysts believe.
's Michael Bloom contributed reporting.