Yesterday, the stock markets mostly declined. The S&P 500 and Nasdaq 100 recorded losses of -0.22% and -0.56%, respectively. However, even in times of negative market volatility, there are individual stocks that defy the trend and record gains.
Among yesterday's winners were companies such as Chevron (NYSE: NYSE:CVX), The Travelers (NYSE: NYSE:TRV), Nike (NYSE: NYSE:NKE), Verizon (NYSE: NYSE:VZ), Boeing (NYSE: NYSE:BA), and Cisco (NASDAQ: NASDAQ:CSCO). Identifying such stocks is not a coincidence but rather the result of a sophisticated strategy. But let's first take a look at what happened with each of these stocks.
Cisco recently received a buy recommendation from BofA and is seen as promising by analysts. Experts point to three growth drivers for the company, including Splunk (NASDAQ: NASDAQ:SPLK), security, and artificial intelligence. This information suggests that the company is well-positioned to achieve future growth. The price target has been raised from $55 to $60, which represents a potential return of nearly 25% from the current price of $48.11.
The Travelers recovered yesterday from a setback associated with the quarterly report, with analysts citing high damages from natural disasters. However, the fair value is $251.96, indicating an upside potential of 20%. The average target price from 22 analysts is $229.83.
Nike gained momentum from a study by JPMorgan (NYSE: JPM), which predicts the beginning of an "innovation super-cycle." Analyst Matthew Boss reaffirmed Nike's rating as "Overweight" with a price target of $122. Boss mentioned four new product developments that will kickstart this cycle, presenting a profit potential of 23%.
Chevron is benefiting from geopolitical tensions in the Middle East, driving up oil prices. Following the recent escalation between Israel and Iran, pre-market trading today indicated a 0.43% increase. Piper Sandler thus raised its price target from $180 to $204 (+23.5%). This target aligns closely with the fair value of $204.20 according to InvestingPro.
The news for Boeing is less positive. Northcoast Research downgraded the stock from "Neutral" to "Sell" with a new price target of $140. Analysts are concerned about the financial health of the aerospace company ahead of the next quarterly report. Whether this concern is justified remains to be seen. Nonetheless, the average target price from 29 analysts leaves ample room for growth at $233.87.
And now, to the question of what the secret behind selecting these stocks is. Quite simply, it's the Dow Detectives strategy. While the S&P 500 and Nasdaq 100 experienced losses, the Dow Detectives gained 0.23%. This strategy, along with 5 other AI-based strategies, is part of InvestingPro.
Every month, the Dow Detectives AI analyzes stocks from the Dow Jones and filters out the 10 stocks with the greatest potential to consistently outperform the market. And the effectiveness of this strategy is demonstrated not only by yesterday's performance but also by its development from 2013 to the present.
While the Dow Jones gained a relatively modest 201.9%, the Dow Detectives strategy achieved a total return of 629.8%.
InvestingPro includes, alongside the AI strategies Dow Detectives (629.8%), S&P 500 Samurai (1083.9%), Value Vault (975.5%), The Best of Buffett (375.0%), Tech Stars (1779.8%), and Mid Cap Marvels (643.0%), many other useful tools (stock screeners, ProTips, and more).
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