U.S. stocks closed mixed on Friday, with the S&P 500 snapping a six-day winning streak. However, the broad market index recorded gains last week. The S&P 500 gained around 1.1%, while the blue-chip Dow added about 0.7% last week.
Wall Street analysts make new stock picks on a daily basis. Unfortunately for investors, not all analysts have particularly impressive track records at predicting market movements. Even when it comes to one single stock, analyst ratings and price targets can vary widely, leaving investors confused about which analyst's opinion to trust.
Benzinga's Analyst Ratings API is a collection of the highest-quality stock ratings curated by the Benzinga news desk via direct partnerships with major sell-side banks. Benzinga displays overnight ratings changes on a daily basis three hours prior to the U.S. equity market opening. Data specialists at investment dashboard provider Toggle.ai recently uncovered that the analyst insights Benzinga Pro subscribers and Benzinga readers regularly receive can successfully be used as trading indicators to outperform the stock market.
Top Analyst Picks: Fortunately, any Benzinga reader can access the latest analyst ratings on the Analyst Stock Ratings page. One of the ways traders can sort through Benzinga's extensive database of analyst ratings is by analyst accuracy. Here's a look at the most recent stock picks from each of the five most accurate Wall Street analysts, according to Benzinga Analyst Stock Ratings.
Analyst: Jay McCanless
- Analyst Firm: Wedbush
- Ratings Accuracy: 88%
- Latest Rating: Reiterated a Neutral rating on D.R. Horton, Inc. DHI with a price target of $115 on Jan. 23, 2024. This analyst sees around 18% downside in the stock.
- Recent News: D.R. Horton reported first-quarter fiscal 2024 sales growth of 7% year-over-year to $7.73 billion, beating the consensus of $7.60 billion.
Analyst: William Stein
- Analyst Firm: Truist Securities
- Ratings Accuracy: 87%
- Latest Rating: Maintained a Hold rating on Tesla, Inc. TSLA and cut the price target from $227 to $193 on Jan. 25, 2024. This analyst sees around 5% upside in the stock.
- Recent News: Tesla reported worse-than-expected fourth-quarter financial results.
Analyst: Matt Bryson
- Analyst Firm: Wedbush
- Ratings Accuracy: 86%
- Latest Rating: Reiterated a Neutral rating on Seagate Technology Holdings plc STX with a price target of $100 on Jan. 25, 2024. This analyst sees around 11% upside in the stock.
- Recent News: Seagate reported quarterly earnings of 12 cents per share, surpassing the analyst consensus estimate of a six-cent loss.
Analyst: Aaron Rakers
- Analyst Firm: Wells Fargo
- Ratings Accuracy: 85%
- Latest Rating: Maintained an Overweight rating on Western Digital Corporation WDC and boosted the price target from $62 to $72 on Jan. 26, 2024. This analyst sees around 24% surge in the stock.
- Recent News: Western Digital reported quarterly adjusted losses of 69 cents per share beating the analyst consensus estimate of losses a $1.13 per share by 38.94%.
Analyst: Philip Gibbs
- Analyst Firm: Keybanc
- Ratings Accuracy: 85%
- Latest Rating: Maintained an Overweight rating on Materion Corporation MTRN and boosted the price target from $130 to $140 on Jan. 23, 2024. This analyst sees around 21% upside in the stock.
- Recent News: Materion, during November, posted better-than-expected third-quarter earnings.
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