Top 2 Analyst Picks: Stocks Set for Big Growt

Analysts' sentiment is important in determining the right time to buy stock. However, the trend in sentiment and coverage is more important than the consensus rating. A Moderate Buy or Buy rating doesn't mean as much if recent revisions include downgrades, price target revisions, and lapsed coverage. Those are headwinds for stock prices that can signal a top and a high potential for bearish reversals. A stock with a consensus rating of sell with recent upgrades and price target increases would be a better choice; those are tailwinds that can help a market bottom and enter a bullish reversal. Increasing analyst coverage is another tailwind for stock prices because growing coverage equates to growing inflows of investor money. The stocks in this article are attracting new coverage, and upgrades and revisions support their markets. Because Chewy (NYSE: CHWY) and Gitlab (NASDAQ: GTLB) are leaders in their respective fields, the odds are high that their stock prices will follow the analysts' lead and move higher. TD Cowen Takes a Bite of Chewy, Inc. Citing Long-Term Growth PotentialChewy analysts began increasing their price targets over the summer after results ...Full story available on Benzinga.com

By admin

October 16, 2024

0

1

Analysts’ opinions help decide the best time to buy stocks, but trends in their sentiment are more crucial than just ratings. A stock rated as a Moderate Buy or Buy may not be as strong if there are recent downgrades or changes in price targets. Conversely, a stock with a Sell rating but recent upgrades may indicate a potential for price increases.

More analyst coverage is beneficial, as it generally leads to increased investor interest. Companies like Chewy CHWY and Gitlab GTLB are gaining analyst attention, signaling positive market movement.

TD Cowen Sees Growth Potential in Chewy, Inc.

Analysts raised price targets for Chewy after strong results, with 22 analysts showing a positive outlook. TD Cowen has a Buy rating with a $38 price target, suggesting a potential 28% rise. Recent consensus estimates also indicate growth.

Chewy�s growth is expected to accelerate, with revenue forecasted to rise above 5% in F2026, supported by an increasing customer base and service offerings. The company maintains a healthy balance sheet with minimal debt, and institutional ownership is nearly 95%, indicating strong market support.

Chewy CHWY stock chart

Morgan Stanley Highlights Gitlab’s Market Position

Morgan Stanley has rated Gitlab Overweight with a $70 price target, seeing it as a key player in a fragmented market with a forecasted 25% revenue growth over the next four years. Analyst coverage has also doubled in the past 18 months, further enhancing Gitlab’s positive outlook.

Gitlab GTLB stock chart