For Immediate Release
Chicago, IL – November 12, 2020 – Stocks in this week’s article are Catalyst Biosciences, Inc. (
CBIO Quick Quote CBIO - Free Report) , UFP Industries, Inc. ( UFPI Quick Quote UFPI - Free Report) , VeriSign, Inc. ( VRSN Quick Quote VRSN - Free Report) , InMode Ltd. ( INMD Quick Quote INMD - Free Report) and Castle Biosciences, Inc. ( CSTL Quick Quote CSTL - Free Report) . 5 Stocks Set to Pop on New Analyst Coverage
New analyst coverage unearths extensive data on stocks for investors. As analysts are privy to vital information, which is crucial for investment decisions, they are much relied on as lack of information creates chances of misinterpretation (over- or under-valued).
Analysts don’t add a stock to their coverage randomly. New coverage on a stock is usually the result of huge investor focus on it or its promising prospects.
Interestingly, stocks typically see an incremental upward price movement with new analyst coverage compared to what they witness with continuation of existing analyst coverage. Of course, the price movement depends on the recommendations from the new analysts. Positive recommendations — Buy and Strong Buy — lead to a significant positive incremental price reaction than Strong Sell, Sell or Hold recommendations.
Moreover, if an analyst gives a new recommendation on a company that has limited or no analyst coverage, investors start paying more attention to it. Also, any new information attracts portfolio managers to build a position in the stock.
However, one should preferably look for the average change in broker recommendation rather than a single recommendation change. Then again, an upgrade, an initiation or even increased coverage is equally important.
Keeping this mind, it’s a good strategy to focus on the number of analyst recommendations that have increased over the last few weeks.
Below, we have selected five stocks that have seen increased analyst coverage over the last few weeks.
For the rest of this Screen of the Week article please visit Zacks.com at: https://www.zacks.com/stock/news/1100082/5-stocks-set-to-pop-on-new-analyst-coverage Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. About Screen of the Week
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Strong Stocks that Should Be in the News
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