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Buy 5 Stocks with Upgraded Broker Ratings for the New Year
With the turbulent 2022 coming to an end, it's time for investors to re-assess their portfolio and investment strategy for the New Year. While recent economic data point to the effectiveness of the Federal Reserve's ultra-aggressive monetary tightening, we are still not out of the woods. The central bank is expected to keep interest rates high til inflation comes down reasonably.
This has made investors wary, as higher rates will likely lead to a recession/economic slowdown in 2023. The bearish sentiments are leading to huge market volatility, making it difficult for individual investors to pick stocks independently and generate solid returns. At this stage, one way to choose the right stocks in the current situation is to follow rating upgrades by brokers. In this regard, stocks like The Chefs' Warehouse, Inc., Synopsys, Inc., Enphase Energy, Inc., ONEOK, Inc. and Fabrinet are worth a look.
As brokers directly communicate with the top management, they have a deeper understanding of what is happening in a particular company. They meticulously assess companies' publicly available documents and even attend conference calls.
Brokers have an extra understanding of the overall sector and industry. They place company fundamentals against the current economic backdrop to determine how a particular stock will fare as an investment.
Hence, when brokers upgrade a stock, you can rely on their judgment. But solely depending on broker upgrades is not a good way to build your investment portfolio. Several other factors should be taken into consideration to ensure steady returns.
Here are five of the seven stocks that qualified for the screening:
Ridgefield, CT-based Chefs' Warehouse is engaged in the distribution of specialty food products. CHEF's product portfolio includes nearly 50,000 stock-keeping units, such as specialty food products, such as artisan charcuterie, specialty cheeses, unique oils and vinegars, truffles, caviar, chocolate and pastry products.
Chefs' Warehouse's 2023 earnings are projected to grow 9.7%. The company, sporting a Zacks Rank #1 at present, has witnessed a 16.7% upward revision in broker ratings over the past four weeks.
Mountain View, CA-based Synopsys is a vendor of electronic design automation software for the semiconductor and electronics industries. SNPS' products are used to design a chip, from concept to the point of delivery to the manufacturer for fabrication.
The company's earnings for fiscal 2023 are expected to increase 13.8%. Synopsys, currently carrying a Zacks Rank #2, has witnessed an 8.3% upward revision in broker ratings over the past four weeks.
Headquartered in Fremont, CA, Enphase Energy is a global energy technology company that delivers energy management technology for the solar industry. ENPH designs, develops, manufactures and sells home energy solutions, which connect energy generation, energy storage and control and communications management on one intelligent platform.
Enphase Energy's 2023 earnings are projected to rise 25.8%. The company, carrying a Zacks Rank #2 at present, has witnessed a 4.4% upward revision in broker ratings over the past four weeks.
ONEOK, based in Tulsa, OK, is an energy company engaged in natural gas and natural gas liquids businesses. OKE's operations are divided into three reportable business segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines.
ONEOK's 2023 earnings are projected to increase 13.9%. The company, carrying a Zacks Rank #2 at present, has witnessed a 7.1% upward revision in broker ratings over the past four weeks.
Cayman Islands-based Fabrinet provides optical packaging and precision optical, electro-mechanical and electronic manufacturing services. FN offers a wide range of advanced optical and electro-mechanical capabilities in the manufacturing process.
The company's earnings for fiscal 2023 are expected to increase 22%. Fabrinet, currently carrying a Zacks Rank #2, has witnessed a 20% upward revision in broker ratings over the past four weeks.
Get the rest of the stocks on the list and start putting this and other ideas to the test. It can all be done with the Research Wizard stock picking and backtesting software.
The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your Research Wizard trial today. And the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out.
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
Zacks.com created the first and best screening system on the web earning the distinction as the "#1 site for screening stocks" by Money Magazine. But powerful screening tools is just the start. That is why Zacks created the Screen of the Week to highlight profitable stock picking strategies that investors can actively use.
Strong Stocks that Should Be in the News
Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has more than doubled the market from 1988 through 2016. Its average gain has been a stellar +25% per year. See these high-potential stocks free >>.
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.
See More Zacks Research for These Tickers
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Zacks.com featured highlights include The Chefs' Warehouse, Synopsys, Enphase Energy, ONEOK and Fabrinet
For Immediate Release
Chicago, IL – December 23, 2022 – Stocks in this week’s article are The Chefs' Warehouse, Inc. (CHEF - Free Report) , Synopsys, Inc. (SNPS - Free Report) , Enphase Energy, Inc. (ENPH - Free Report) , ONEOK, Inc. (OKE - Free Report) and Fabrinet (FN - Free Report) .
Buy 5 Stocks with Upgraded Broker Ratings for the New Year
With the turbulent 2022 coming to an end, it's time for investors to re-assess their portfolio and investment strategy for the New Year. While recent economic data point to the effectiveness of the Federal Reserve's ultra-aggressive monetary tightening, we are still not out of the woods. The central bank is expected to keep interest rates high til inflation comes down reasonably.
This has made investors wary, as higher rates will likely lead to a recession/economic slowdown in 2023. The bearish sentiments are leading to huge market volatility, making it difficult for individual investors to pick stocks independently and generate solid returns. At this stage, one way to choose the right stocks in the current situation is to follow rating upgrades by brokers. In this regard, stocks like The Chefs' Warehouse, Inc., Synopsys, Inc., Enphase Energy, Inc., ONEOK, Inc. and Fabrinet are worth a look.
As brokers directly communicate with the top management, they have a deeper understanding of what is happening in a particular company. They meticulously assess companies' publicly available documents and even attend conference calls.
Brokers have an extra understanding of the overall sector and industry. They place company fundamentals against the current economic backdrop to determine how a particular stock will fare as an investment.
Hence, when brokers upgrade a stock, you can rely on their judgment. But solely depending on broker upgrades is not a good way to build your investment portfolio. Several other factors should be taken into consideration to ensure steady returns.
Here are five of the seven stocks that qualified for the screening:
Ridgefield, CT-based Chefs' Warehouse is engaged in the distribution of specialty food products. CHEF's product portfolio includes nearly 50,000 stock-keeping units, such as specialty food products, such as artisan charcuterie, specialty cheeses, unique oils and vinegars, truffles, caviar, chocolate and pastry products.
Chefs' Warehouse's 2023 earnings are projected to grow 9.7%. The company, sporting a Zacks Rank #1 at present, has witnessed a 16.7% upward revision in broker ratings over the past four weeks.
Mountain View, CA-based Synopsys is a vendor of electronic design automation software for the semiconductor and electronics industries. SNPS' products are used to design a chip, from concept to the point of delivery to the manufacturer for fabrication.
The company's earnings for fiscal 2023 are expected to increase 13.8%. Synopsys, currently carrying a Zacks Rank #2, has witnessed an 8.3% upward revision in broker ratings over the past four weeks.
Headquartered in Fremont, CA, Enphase Energy is a global energy technology company that delivers energy management technology for the solar industry. ENPH designs, develops, manufactures and sells home energy solutions, which connect energy generation, energy storage and control and communications management on one intelligent platform.
Enphase Energy's 2023 earnings are projected to rise 25.8%. The company, carrying a Zacks Rank #2 at present, has witnessed a 4.4% upward revision in broker ratings over the past four weeks.
ONEOK, based in Tulsa, OK, is an energy company engaged in natural gas and natural gas liquids businesses. OKE's operations are divided into three reportable business segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines.
ONEOK's 2023 earnings are projected to increase 13.9%. The company, carrying a Zacks Rank #2 at present, has witnessed a 7.1% upward revision in broker ratings over the past four weeks.
Cayman Islands-based Fabrinet provides optical packaging and precision optical, electro-mechanical and electronic manufacturing services. FN offers a wide range of advanced optical and electro-mechanical capabilities in the manufacturing process.
The company's earnings for fiscal 2023 are expected to increase 22%. Fabrinet, currently carrying a Zacks Rank #2, has witnessed a 20% upward revision in broker ratings over the past four weeks.
Get the rest of the stocks on the list and start putting this and other ideas to the test. It can all be done with the Research Wizard stock picking and backtesting software.
The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your Research Wizard trial today. And the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out.
Click here to sign up for a free trial to the Research Wizard today.
For the rest of this Screen of the Week article please visit Zacks.com at: https://www.zacks.com/stock/news/2031307/buy-5-stocks-with-upgraded-broker-ratings-for-the-new-year
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
Zacks.com created the first and best screening system on the web earning the distinction as the "#1 site for screening stocks" by Money Magazine. But powerful screening tools is just the start. That is why Zacks created the Screen of the Week to highlight profitable stock picking strategies that investors can actively use.
Strong Stocks that Should Be in the News
Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has more than doubled the market from 1988 through 2016. Its average gain has been a stellar +25% per year. See these high-potential stocks free >>.
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Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Contact: Jim Giaquinto
Company: Zacks.com
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Email: pr@zacks.com
Visit: https://www.zacks.com/
Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.