The U.S. Federal Reserve's bumper 50-basis-point interest rate cut last Wednesday caught several market watchers by surprise , one chief market strategist said — sharing where and how he's investing in such an environment. The U.S. is "five weeks in front of what's a very chaotic presidential election ... and the Fed is never really supposed to make a move up or down in rates this close.
According to FactSet data, of the 20 analysts covering the stock, 18 give it a buy or overweight rating, while two have a hold rating. Analysts' average price target is $19.25, giving it nearly 19% potential upside. Biotech play Another stock Polcari is bullish on is biopharmaceutical player Amgen , given its pipeline of new products .
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