The past two years have been fruitful for stock investors, but recently the market — especially tech stocks that trade high relative to earnings — has been sensitive to the prospect of rising interest rates.
If they are right, it means investors have already priced in the uncertainty of a rising-rate environment and geopolitical concerns, and the market should get back on an upward path soon. The Jefferies team cautioned that it might be too soon to assume the end of last week was the worst of the pullback, but they also gave several reasons that it might be:
Among the Nasdaq-100, about two-thirds of the stocks are rated “buy” or the equivalent by a majority of analysts polled by FactSet. Narrowing further to a “conviction list,” here are the eight with at least 85% “buy” ratings, sorted by upside potential over the next 12 months implied by consensus price targets among analysts polled by FactSet:Then read Tomi Kilgore’s detailed guide to the wealth of information available for free on the MarketWatch quote page.
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