6 Stocks Ronnie Moas Is Shopping For Amid Market Selloff
Ronnie Moas of Standpoint Research has been waiting for a "correction" of Monday's magnitude for 18 months and sees the action as an "opportunity" to go shopping.
In a letter to clients, Moas stated he has been sitting on the sidelines and waiting for this "correction" to add new names and reinstate names that have been hit hard or have underperformed.
Moas noted that the last "shopping" opportunity back in October 2014 netted gains on 14 names between 20 to 40 percent by the end of the first quarter of 2015.
Moas founded Standpoint Research in 2003 after spending years developing a proprietary 155-variable valuation and diagnostic model to generate investment ideas. Combined with the use of fundamental and subjective analysis, the research firm has been ranked as one of the highest in terms of accuracy of picks.
Here is Moas' new "shopping list" with initiations and upgrades.
- Shares of Alibaba Group Holding Ltd (NYSE: BABA) were initiated at Buy with a 2017-2018 price target of $84.
- Shares of Juno Therapeutics Inc (NASDAQ: JUNO) were initiated at Buy with a 2017-2018 price target of $47.
- Shares of Macy's, Inc. (NYSE: M) were initiated at Buy with a 2017-2018 price target of $72.
- Shares of QUALCOMM, Inc. (NYSE: UAL) were upgraded to Buy from Hold with a 2017-2018 price target of $72.
- Shares of WESCO International, Inc. (NYSE: WCC) were upgraded to Buy from Hold with a 2017-2018 price target of $68.
- Shares of United Continental Holdings Inc (NYSE: UAL) were initiated at Buy with a 2017-2018 price target of $70.
Latest Ratings for BABA
|Jan 2017||Bernstein||Initiates Coverage On||Outperform|
|Jan 2017||Standpoint Research||Upgrades||Hold||Accumulate|
|Nov 2016||Brean Capital||Maintains||Buy|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.